Brantford Real Estate August Market Update

Home sales recorded through the MLS System of the Brantford Regional Real Estate Association were up from the same month last year in August 2010. Meanwhile, new supply continues to trend lower. This is reducing the number of homes available on the market, which in turn is keeping the market in balance.

According to statistics provided by the Association, residential sales totalled 169 units in August 2010. This is up 15 per cent from levels in August 2009. Some 1,486 homes have traded hands on a year-to-date basis in 2010, also 15 per cent above levels reported in the first eight months last year.

On a seasonally adjusted basis, sales activity was up five per cent month-over-month in August. It was the first increase in five months. Seasonal adjustment removes normal seasonal fluctuations.

Supply continues to trend lower in response to the recent softening in demand. New residential listings on the Association's MLS System declined 14 per cent from year-ago levels to 238 units in August. There were 760 active residential listings on the Association's MLS System at the end of August, down seven per cent from the same month in 2009.

The average price of homes sold in August was $232,400, up nine per cent from August 2009.

The dollar value of all home sales in August 2010 totalled $39.3 million, rising 26 per cent from the same month in 2009.

Total sales activity in Brantford numbered 179 units in August 2010, up 21 per cent on a year-over-year basis. The total value of all sales activity amounted to $43.2 million, 38 per cent above levels reported in August 2009.

There were 4.5 months of inventory at the end of August 2010, down from 5.6 months a year earlier. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Bankruptcies Lower in 2010 than 2009

Here is a great article about bankruptcies in Brantford, they are down in 2010 compared to 2009.

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