May has been an extremely good month for Brampton real estate. As statistics in this article will show, the market is still blazing hot and isn’t expected to cool down anytime soon. We will be comparing the market statistics from May of 2014 with May of 2015 to give buyers and sellers an idea of what’s going on, if they were thinking of either buying or selling. Homes in May 2015 are selling much faster than they were last year at the same time and also, they’re selling for more $$. So is it still possible for people looking to enter the market to get a good deal? Absolutely, let’s take a look at what’s going on.
In May 2014, the average price of a home in Brampton was stated at $430,963. Homes at these prices were also selling at 90% list to sale ratio and within an average 20 days on market.
In May 2015, there have been 1,102 total sales in the month with an average selling price of a home in Brampton at $492,566. Homes selling at this price on average were also selling at 100% list to sale ratio! Yes, you read that correct, 100%. These homes took an average of 14 days on market to achieve these statistics.
2014: $499,749 – Average days on market 21
2015: $577,028– Average days on market 14
2014: $382,650 – Average days on market 17
2015: $442,611 – Average days on market 11
2014: $373,288 – Average days on market 14
2015: $402,084 – Average days on market 13
2014: $285,358 – Average days on market 23
2015: $323,192 – Average days on market 21
Summary: The market is proving that it’s still a very good time to buy and sell real estate in Brampton. Buyers would want to get into their new home before the prices continue to rise, as they look like they are. Sellers on the other hand would definitely want to consider putting their home up for sale as soon as possible especially after this month’s list to sale ratio at a whopping 100% average.
As shown above, homes this year compared to the same time as last year on average are selling for $61,603 more. Sellers definitely have the upper hand in this market, but good deals are out there for buyers as well. If you would like us to assist you on your home search or the sale of your home, please contact the MyBramptonLife Team.