Home sales slowed as inventory climbed in June

There was a drop in the number of homes sold locally last month and a dip in prices but an increase in the number of properties for sale.

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Statistics provided by the Brantford Regional Real Estate Association show 173 homes sold in June, down from 186 sales in May and a drop of almost 20 per cent compared to 2023.

There was a substantial increase in the listings available. At the end of the month, the BRREA had 1,004 properties listed versus 870 that were on the market at the same time last year.

“Overall, the industry remains steady, with growth in key areas and increasing inventory,” said the board’s new president, Judy Lillico.

“The increase in housing prices and the slowdown in sales during the summer months are natural fluctuations in the market that can be expected year over year.”

Last month, the average residential sale price for the city and surrounding county was $718,927, down just slightly from last year.

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The average price for a detached home in Brantford was $680,233 and the average in Brant County was $1,026,791. Both of those averages are up over 2023.

In June, the average time a house was on the market was 22 days and the closing prices were almost at 100 per cent of the asking prices.

There’s more inventory available now: the association says there is about three months worth of properties on the market, up about a month from the same time last year and sitting steady with May.

Locally, the highest average home prices in Brantford last month were in Ward 1 with houses averaging $821,290 and condos $700,000. Ward 1 also had the highest number of new listings at 101.

The most sales – 27 – took place in Ward 2, where homes averaged $655,200.

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Ward 3 and Ward 4 were comparable with 20 and 19 sales, averaging $699,000 and $670,000 for freehold homes.

Ward 5 had 23 freehold sales and seven leases. It also had 62 new listings – the second highest in the city. The average price of a freehold home was $510,945.

In Brant County, the highest number of sales were in Wards 2, 3 and 4 with 11 or 12 sales each.

The highest prices were in Ward 4 (Scotland and Burford) at $1.1 million, followed by Ward 3 (Paris) at just under $1.1 million and then Ward 2 (also Paris) $762,764.

Ward 1, which includes St. George, had just four sales and the average price was $888,000.

There were no sales in Ward 5 (Onondaga, Mount Pleasant, Cainsville and Oakland).

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