Brantford Regional Real Estate Association MLS® home sales end 2024 on strong note
The number of homes sold through the MLS® System of the Brantford Regional Real Estate Association totaled 124 units in December 2024. This was a sizable gain of 25.3% from December 2023.
Home sales were 7.5% above the five-year average and 1.8% below the 10-year average for the month of December.
On an annual basis, home sales totaled 1,817 units over the course of 2024. This decreased by 1.8% from 2023.
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $664,200 in December 2024, essentially unchanged, down just 0.1% compared to December 2023.
The benchmark price for single-family homes was $690,900, a slight gain of 0.6% on a year-over-year basis in December. By comparison, the benchmark price for townhouse/row units was $554,100, falling by 5.5% compared to a year earlier, while the benchmark apartment price was $364,200, a decline of 4.9% from year-ago levels.
The average price of homes sold in December 2024 was $712,250, a decline of 5% from December 2023.
The more comprehensive annual average price was $695,022, down modestly by 2.8% from all of 2023.
The dollar value of all home sales in December 2024 was $88.3 million, an increase of 18.9% from the same month in 2023.
The number of new listings saw a sizable gain of 26.2% from December 2023. There were 130 new residential listings in December 2024. This was the largest number of new listings added in the month of December in five years.
New listings were 15.2% above the five-year average and 12.9% above the 10-year average for the month of December.
Active residential listings numbered 389 units on the market at the end of December, increasing by 6.9% from the end of December 2023. Active listings haven’t been this high in the month of December in a decade.
Active listings were 65.7% above the five-year average and 57.6% above the 10-year average for the month of December.
Months of inventory numbered 3.1 at the end of December 2024, down from the 3.7 months recorded at the end of December 2023 and above the long-run average of 2.2 months for this time of year. 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.
BOARD & ASSOCIATION INFORMATION
For further comment please contact President Judy Lillico (judy.lillico@remaxtwincity.com).
For further information and background, please contact Executive Officer Felicia Finnigan (executiveofficer@brrea.com).
Telephone: 519-753-0308
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.
Brantford Regional Real Estate Association®
Judy Lillico
