MLS® home sales in Brantford begin spring market with a strong March performance
The number of homes sold through the MLS® System of the Brantford Regional Real Estate Association totaled 268 units in March 2021. Advancing 53.1% from March 2020. This was also a new sales record for the month of March.
On a year-to-date basis, home sales totaled a record 577 units over the first three months of the year. This increased by 27.7% from the same period in 2020.
"Brantford started the traditionally hot spring market on a strong note this year." said Ray Petro, President of the Brantford Regional Real Estate Association. "MLS® home sales set a new March monthly record surpassing the previous high mark of 245 set back in 2004. There was also a notable increase in the number of new listings during the month of March. Although a welcome respite from the recent lows, overall inventory is still hovering only marginally higher than the all-time lowest level on record."
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 $594,900 in March 2021, a jump of 38% compared to March 2020.
The benchmark price for single-family homes was $621,500, a significant gain of 40.1% on a year-over-year basis in March. By comparison, the benchmark price for townhouse/row units was $426,300, advancing 39.5% compared to a year earlier, while the benchmark apartment price was $256,700, down modestly by 3.2% from year-ago levels.
The average price of homes sold in March 2021 was $657,855, rising 35.4% from March 2020.
The more comprehensive year-to-date average price was $657,292, up sharply by 38.9% from the first three months of 2020.
The dollar value of all home sales in March 2021 was $176.3 million, more than double the levels from a year earlier, surging 107.3% from the same month in 2020. This was a new record for the month of March and was also the largest dollar value of homes sold for any month in history.
The number of new listings jumped 31.1% from March 2020. There were 333 new residential listings in March 2021. This was the largest number of new listings added in the month of March in more than two decades.
Active residential listings numbered 114 units on the market at the end of March, a large drop of 59.1% from the end of March 2020. Active listings haven't been this low in the month of March in more than three decades.
Months of inventory numbered 0.4 at the end of March 2021, down from the 1.6 months recorded at the end of March 2020 and below the long-run average of 2.1 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
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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®