As we begin the New Year in Brantford, home buyers and home sellers have the same question: Is now a good time to buy, sell, or invest in real estate? To answer that, let’s take a look at the most recent market summary from the Brantford Regional Real Estate Association:
Home values in the Brantford region are up by 7% from a year ago. The average price for a home as of November 2011 was $238,114.
The inventory of homes for sale is lower than a year ago. At the end of November 2011, we had 631 active residential listings on the market; that’s down 6% from the prior year.
The inventory of homes for sale stands at a 3.5 month supply. This means that at the present pace of sales, we’d clear the shelves in just about 90 days if nothing else came on the market.
This is the tightest real estate market we’ve seen in two years. If you’re a Brantford home seller, it would be like comparing it to a perfect cup of coffee; steaming, but not too hot. (If you’re a Brantford home buyer, you may be a little frustrated that you’re still in line and haven’t gotten your coffee yet.)
Total sales activity – a separate measurement from pricing – is up 3% from a year ago.
How does it look for the future? Different economists hold different opinions, but some are saying we’re in a sweet spot; the market is healthy and active, values are appreciating, but we’re not throwing all caution to the wind and seeing rampant speculation. It was the latter situation that contributed to the housing bust in the U.S.
Naturally, if there are any widespread economic shake-ups, it could affect the real estate market. Home values are best when employment is stable and people feel financially secure. Canada is not immune to the impacts of global financial concerns, but thus far we’ve weathered things pretty well.
Is now a good time to buy, sell, or invest in real estate? As your Brantford real estate agent, I would say yes, so long as your personal finances are in order and you’re not going out on a limb. Sometimes changes happen in a market that cannot be predicted, so above all, consider what is right for you and your needs in the long run.
Based on our recent market activity, 2012 appears to hold a balance of opportunity for buyers, sellers, and investors alike. If you’re thinking of buying or selling a home in Brantford, or you have questions about Brant County real estate, give me a call! I will be happy to help you.
Wishing you all the best in the New Year,
Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400
Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
RE/MAX Twin City Realty, Inc. Brokerage
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400
Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!
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