Brantford Regional Real Estate Association MLS® home sales, new listings both rise in April

The number of homes sold through the MLS® System of the Brantford Regional Real Estate Association totaled 217 units in April 2024. This was a gain of 11.9% from April 2023.

Home sales were 2% below the five-year average and 6.1% below the 10-year average for the month of April.

On a year-to-date basis, home sales totaled 634 units over the first four months of the year. This was up modestly by 3.1% from the same period in 2023.

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 $687,600 in April 2024, a modest gain of 1% compared to April 2023.

The benchmark price for single-family homes was $714,700, up modestly by 1.1% on a year-over-year basis in April. By comparison, the benchmark price for townhouse/row units was $574,300, essentially unchanged, down just 0.3% compared to a year earlier, while the benchmark apartment price was $369,000, a slight gain of 0.6% from year-ago levels.

The average price of homes sold in April 2024 was $754,356, an increase of 6.8% from April 2023.

The more comprehensive year-to-date average price was $710,299, a small gain of 2.9% from the first four months of 2023.

The dollar value of all home sales in April 2024 was $163.7 million, increasing by 19.5% from the same month in 2023.

The number of new listings saw an advance of 34.8% from April 2023. There were 403 new residential listings in April 2024.

New listings were 8.7% above the five-year average and 17.4% above the 10-year average for the month of April.

Active residential listings numbered 496 units on the market at the end of April, up by 29.2% from the end of April 2023. Active listings haven’t been this high in the month of April in more than five years.

Active listings were 38.2% above the five-year average and 35.5% above the 10-year average for the month of April.

Months of inventory numbered 2.3 at the end of April 2024, up from the 2 months recorded at the end of April 2023 and above the long-run average of 1.8 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.

source Brantford Regional Real Estate Association® CREA https://creastats.crea.ca/board/brnt