Brantford Real Estate Market Update: June 2018

As we enter July, we step back and take a look at the Brantford Real Estate market statistics that are released monthly from the Brantford Regional Real Estate Association (BRREA). Take a look at that stats below, and note the key highlights.

The average price for a detached house in Brantford and Brant County is up by 4%, and detached houses are the #1 best selling house type in this area.
The average residential sale price is $415,288, up from $399,016 in 2017.
The market is continuing to prove strong as we enter July, making it a great to buy or sell.
Also this week, the Bank of Canada increased its key rate to 1.5 per cent from 1.25 per cent – the fourth rate hike since last June. The rate, which sets the trend for rates on mortgages and other loans, has not been this high since December, 2008. An article from the Globe and Mail reports, "Higher interest rates and tighter mortgage lending rules are cooling off the housing market and consumer spending."

What does this mean for you? Sellers, now is a great time to be in the market - we are experiencing low inventory, values are growing, and sales are doing well. Buyers, things are only going up, and the quicker you can get into the market the better it is for you, as we see nothing but positive price appreciation projected for the foreseeable future. Let us know how we can help you with your purchase or sale, or if you'd like to know what your home is worth!