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Brantford

As many companies and businesses were facing serious economic constraints, some people had a reason to retain their smiles. The last quarter of the year turned out well for the Brantford Regional Real Estate Association. In November 2020, a 9.1% increase was recorded after 191 units were sold. This was an improvement as compared to a similar month in 2019. The number made November the best sales month.

From January to November, 2,194 homes were sere sold. This total also shot up the percentage increase to 8.3%. Again, this was higher than the similar period in 2019. What did the president of Brantford Regional Real Estate Association have to say about these reports?

Rose Sicoli is at its helm of the company. She mentioned that the impressive home sales had ranked November as one of the most successful months as far as business was concerned. The year 2020 was in line of being among the best sales periods. She also added that there was still a decrease in supply and inventories had fewer listings due to the prevailing circumstances. However, the situation had a positive side. In this case, the few available units were priced higher to willing buyers. This consequently led to new sales records that scaled up profits.

Like others, Brantford Regional Real Estate Association uses the MLS®® system. It consists of the HPI (Home Price Index) that aims at determining market price trends. The accuracy of the system is enhanced using the median and average measures. The HPI price was $503,300, 20.7% higher than November 2019. Single-family units totaled $520,100. This was a 22.1% rise in comparison to the same month the previous year. Row units’ sales summed up to $359,300, a 14.8% increase being noted. Apartments brought in $284,200 which was a 5.1% rise if compared to November 2019. With such reports, it's right to conclude that selling your Ontario home might be less hectic when you partner with Brantford Real Estate Association.

A whopping $101.6 million was gained from sales of all homes. The amount accounted for the 33.1% increment from November 2019. It's not hard to see why November 2020 was a good month. Their inventories had 174 new units. This was 3.6% more than November 2019. However, existing active listings stood at 99 units. This was a 68.6% decline and had not happened in over 30 years.

November 2020 ended with months of inventories at 0.5 as compared to 1.8 recorded in November 2019. The average for this particular time is 2.7 months therefore the drop was quite significant. The months of inventories are determined by the time taken to sell the property as per the existing sales activity.

BRREA (The Brantford Regional Real Estate Association) sells property in Southwestern Ontario. Other areas where their services are available include Mount Peasant, St.George, Brantford, Oakland, Scotland, Town of Paris, and Burnford. If you are undecided about how to sell your house in Brantford, contact Brantford Regional MLS®®.