Courtesy of Suzette Thompson

Brampton Market Report for September 2023

$1,211,577 detached

$541,659 condo/apartment

$693,067 condo/townhouse

1,245 NEW LISTINGS 377 SOLD LISTINGS

AVERAGE SALE PRICES

87 condo/town. detached 692

46.2% SALES TO NEW LISTING RATIO

22 DAYS ON MARKET

2.1 MONTHS OF INVENTORY

ACTIVE LISTINGS (residential inventory) 1,488

New listings were up strongly on a year-over-year basis from the extremely low level in September 2022. The number of listings also trended upward on a month-over-month seasonally adjusted basis. “GTA home selling prices remain above the trough experienced early in the first quarter of 2023. However, we did experience more balanced market in the summer and early fall, with listings increasing noticeably relative to sales. This suggests that some buyers may benefit from more negotiating power, at least in the short term. This could help offset the impact of high borrowing costs,” said TRREB Chief Market Analyst Jason Mercer. Statistics reflect market activity in September 2023 | Source: TRREB ® Toronto Regional Real Estate Board | Market values stated are average prices. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

GTA REALTORS ® , October 4, 2023 – The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year. “The short and medium-term outlooks for the GTA housing market are very different. In the short term, the consensus view is that borrowing costs will remain elevated until mid-2024, after which they will start to trend lower. This suggests that we should start to see a marked uptick in demand for ownership housing in the second half of next year, as lower rates and record population growth spur an increase in buyers,” said TRREB President Paul Baron. REALTORS ® reported 4,642 home sales through TRREB’s MLS ® System in September 2023 – down 7.1 per cent compared to last year.

Cell: 647.703.8410 remax@SuzetteThompson.realtor www.SuzetteThompson.realtor

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