Brantford Regional Real Estate Association®

Brantford Regional Real Estate Association MLS® home sales show signs of life in January

The number of homes sold through the MLS® System of the Brantford Regional Real Estate Association totaled 111 units in January 2024. This increased by 7.8% (eight sales) from January 2023.

Home sales were 12.2% below the five-year average and 7.3% below the 10-year average for the month of January.

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 $665,900 in January 2024, up modestly by 2.7% compared to January 2023.

The benchmark price for single-family homes was $688,100, a minor increase of 2.7% on a year-over-year basis in January. By comparison, the benchmark price for townhouse/row units was $581,400, a moderate gain of 4.4% compared to a year earlier, while the benchmark apartment price was $379,300, falling by 2.7% from year-ago levels.

The average price of homes sold in January 2024 was $722,006, up by 7.1% from January 2023.

The dollar value of all home sales in January 2024 was $80.1 million, a sizable gain of 15.4% from the same month in 2023.

The number of new listings was unchanged from January 2023. There were 237 new residential listings in January 2024.

New listings were 12.4% above the five-year average and 19.8% above the 10-year average for the month of January.

Active residential listings numbered 364 units on the market at the end of January, a gain of 12.3% from the end of January 2023. Active listings haven’t been this high in the month of January in more than five years.

Active listings were 55.3% above the five-year average and 39.2% above the 10-year average for the month of January.

Months of inventory numbered 3.3 at the end of January 2024, up from the 3.1 months recorded at the end of January 2023 and above the long-run average of 2.3 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 John Oddi (johnoddi@royallepage.ca).

For further information and background, please contact Executive Officer Felicia Finnigan (felicia@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.


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Brantford Regional Real Estate Association®

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President
David De Dominicis

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