Brantford home sales were down substantially in November compared to the previous month.
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Statistics from the Brantford Regional Real Estate Association indicate 111 homes were sold in November, a decrease of almost 23 per cent compared to October’s 144 sales. Sales in Brantford were down 30 per cent, with the stats brought up by a seven per cent increase in sales in Brant County.
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Although home sales took a dip last month, they were up more than seven per cent over November 2022, said the real estate association.
“While things slowed down in November, overall, the market remains steady,” said David DeDominicis, association president. “As we head toward the end of the year, we can be satisfied with the current numbers. Inventory continues to increase month over month, and that is something we can be grateful for.”
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The Brantford-Brant market had 1,015 listings in total supply at the end of November, up from 878 listings at the same time last year. The total inventory includes all property types, from residential to commercial.
The average residential sale price in Brantford and Brant County moved from $680,000 in 2022 to $657,000, a decrease of about three per cent.
The average price of detached homes also decreased in November, from $759,000 in October to $735,000. The average price for detached homes in Brantford is $641,000 and $1.06 million in Brant County, decreasing by 7.5 per cent and .05 per cent over November 2023, respectively.
Homes stay on the market for an average of 32 days, on par with last year.
The close price to list price ratio is almost 98 per cent, meaning sellers can expect to get close to their listing price.
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Months of inventory have increased to five months, up from four months in 2022. This is the time it would take to turn over the current housing supply at the current rate of sales activity.
Locally, the highest average home prices last month were in Brant County’s Ward 4, which includes Scotland and Burford ($1.2 million). That was followed by Brant’s Ward 1, which includes St. George ($1.07 million); Ward 3, which includes Paris ($751,000), and Ward 2, which also includes Paris ($584,000). There was no average home price provided for Ward 5, which includes Onondaga, Mount Pleasant, Cainsville and Oakland.
The highest average sale prices for a home in Brantford last month was in Ward 1 ($756,000), followed by Ward 3 ($720,000), Ward 4 ($620,000), Ward 2 ($616,000), and Ward 5 ($505,000).
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