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.

Brantford Real Estate Market Update

Resale housing market continues to soar in April

Home sales recorded through the MLS System of the Brantford Regional Real Estate Association remained very strong in April 2010, coming in just two sales below the record for the month set back in 2004.

According to statistics provided by the Association, residential sales totalled 231 units in April 2010, up 32 per cent from the same month in 2009. This stands less than one per cent below the peak for April sales reached in 2004.

April was another strong month for home sales, said Daniel Marchuk, President of the Brantford Regional Real Estate Association. It is likely that some future demand is being pulled forward right now by buyers motivated to finalize purchases in advance of interest rate hikes and the introduction of the HST.

The average price of home sales in April 2010 was $234,024, an increase of 11 per cent from a year earlier.

The dollar value of all home sales in April 2010 totalled $54.1 million, up 47 per cent from the same month in 2009.

Total sales activity in Brantford numbered 239 units in April 2010, climbing 32 per cent on a year-over-year basis. The total value of all sales activity amounted to $58.2 million, 47 per cent above levels reported in April 2009.

New residential listings on the Association's MLS System rose 15 per cent from year-ago levels to 373 units in April. Despite the rise in new listings, the overall supply of homes for sale on the market remains below last year's levels. Active residential listings on the Association's MLS System numbered 758 units at the end of April, 13 per cent below levels reported one year ago.

There were 3.3 months of inventory at the end of April 2010, the lowest level since August 2007. 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.

The Brantford Regional Real Estate Association serves an area of Southwestern Ontario that includes the rural areas and communities in Brant County, which includes the City of Brantford, Town of Paris, Villages of Burford, Mount Pleasant, Oakland, Scotland and St. George.