***PLEASE WATCH THE VIDEO ABOVE***
Here is your Brantford Real Estate Update for September 2020 with the statistics from last month for the detached residential homes in the City of Brantford, the North End neighbourhoods, and the West Brant area.
The average sale price for a detached single-family home for all areas of Brantford in August 2020 was $547,478, which is up by 24.14% or $106,463 higher compared to the average sale price of $441,015 in August 2019. The sales-to-new listings ratio in August was 75.26%, which means that almost 8 homes in Brantford were sold for every 10 homes that were listed, indicating a strong Seller's market last month.
The average sale price in Brantford’s North End neighbourhoods in August 2020 was $616,380, which is up 28.09% or $135,180 compared to the average sale price of $481,200 in August 2019. The sales-to-new listings ratio in the North End areas last month was 61.70%, which means that 6 homes were sold in the North End neighbourhoods for every 10 new listings in the North End that came on the market, indicating a Seller's market in the North End areas.
The average sale price in the West Brant area in August 2020 was $671,819, which is up by 30.16% or $155,665 compared to the average sale price of $516,154 in August 2019. The sales-to-new listings ratio in West Brant for the month of August was 83.33%, which means that 8 homes in West Brant were sold for every 10 homes that came on the market, indicating a very strong Seller's market in the West Brant areas.
Terry's Take on the Brantford Real Estate Market
There were 20.5% more new listings that came on the market last month compared to a year ago, giving the Buyers a few more options to choose from which slowed down the market for a week or so due to the increase in inventory. However, this was short-lived as those new listings were sold quickly to bring us back to a shortage of inventory again as the high demand for the houses for sale in Brantford continues to outpace the supply of homes that are available for sale. Almost all of our listings have been receiving multiple offers and selling for well above their asking prices in this hot market! We are finding that with our aggressive marketing and targeted advertising to the Buyers in the areas outside of Brantford, such as Toronto, Oakville, Hamilton, Mississauga, Brampton, Burlington, Milton, Guelph, Kitchener, Cambridge, Waterloo, and so on, we are getting a lot of Buyers from those areas who are wanting to move to Brantford becuase they are finding the prices in Brantford to be very attractive compared to where they currently live.
If you live in Brantford or Brant County and you are planning on making a move this year just give us a call or text to put our proven and aggressive marketing system to work for you so you can make the most money possible from the sale of your home! You can Call or Text The Terry Summerhays Team at 519-802-8770.
To learn more about how Terry Summerhays is able to consistently sell his listings for 4%-6% more money year-after-year check out our proven and aggressive Summerhays Selling System so you can sell your Brantford home faster, easier, and put more money in your pocket!
Thank you for your time and have a great day!
***Statistical information was compiled from data provided by the Brantford Regional Real Estate Association