2015 is looking like it’s going to be a very good year for Real Estate. Brampton Real Estate market stats for 2016 are out now With an average selling price increase of over 11% in January alone this year is looking like it will be a strong market. Demand and supply is steadily increasing as Brampton continues to be one of the fastest growing cities in southern ontario. Check these numbers out:
What does this data mean for prospective buyers?
At first glance an average market selling price increase of 11.5% may seem unfavourable to buyers, we need to take a step back to understand what exactly this means for the market of wherever you’re considering buying. Every market is going to have it’s ups and downs, however ultimately, generally you’ll be looking for a market with a general upward trend if you want a safe investment. Brampton provides this, as house prices have been increasing steadily over the past many years.
We’re seeing an influx of first-time home buyers, as well as many people migrating out of Toronto in favour of more affordable choices such as Mississauga, Barrie, and you guessed it – Brampton. While we obviously can’t promise any cold hard numbers or predictions for the future, we can safely say that this is one of the better areas to buy in right now, and while there is a lot of demand in the area, there’s also plenty of supply. Furthermore, with all the new developments in the area, supply is steadily increasing for the forseeable future.
What does all this mean for sellers?
As the data clearly points out, sellers are pretty much getting what they’re asking for and quite quickly at that. Average days on market is lower than last year, and most homes are going for north of 98% of their original asking price. We’re seeing more of a demand market than a supply one right now, it’s definitely a good time to list your house if you’ve been considering it for some time now.