The scorching hot weather and lack of rain didn’t stop home buyers in Brantford. In July deals were made on 131 residential properties – up just slightly from June. The number of new “for sale” signs going into the ground continued it’s downward trend. There were 170 homes listed for sale in July compared to 212 and 192 in May and June respectively. Total inventory is up – however only slightly (net gain of 3 homes).
The July numbers mimic historic seasonal trends, however it appears the traditional Autumn slowdown of new listings has started a month earlier this year. Demand for homes should hold steady for the next few months and is almost guaranteed to dip over the holiday season.
Year to date the market has been slightly more active than 2011 – however total supply is relatively unchanged from last year – the big change still is the total inventory available. Compared to 2011 and 2010 there are 16% and 23% fewer homes available to be purchased.
While there will be some fresh homes coming onto the market in the next few months I don’t expect any dramatic change to the inventory levels – and I expect the market will continue to favour the sellers until October-November.
August – Brantford Video Market Update
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