Home sales across all property types spiked more than 10 per cent last month while prices stayed \u201cstable\u201d and under $900,000, according to a new report.<\/p>\n
Data from real estate website Zoocasa shows the average home sale price in Brampton crept up slightly to $889,407 in May from $885,936 April.<\/p>\n
Detached homes remained the most popular in Brampton with a 10.7 per cent increase in sales to 249 transactions, while the average price increased \u201cmodestly\u201d by 0.5 per cent to $1,023,135, Zoocasa says.<\/p>\n
The semi-detached homes posted similar stability, with a 4 per cent spike in sales up to 81 transactions. The average price from semi-detached homes rose 0.6 per cent to $808,929, and inventory growth increased 12 per cent month-over-month.<\/p>\n
\u201cWith 216 semi-detached homes available, buyers in this segment continue to benefit from a healthy selection of properties,\u201d Zoocasa says.<\/p>\n
Sales across all property types were up 12 per cent in Brampton last month with more than 450 transactions.<\/p>\n
Supply growth in Brampton heading into summer \u201cappears to be moderating\u201d compared to earlier in the spring, Zoocasa says. New listings were up just 2 per cent last month to 1,431 properties, while active inventory rose 8.8 per cent to 2,133 homes available at the end of the month.<\/p>\n
The signs point to \u201cseasonal peak\u201d conditions for buyers \u201cwho have been waiting for a significant increase in inventory,\u201d Zoocasa says.<\/p>\n
Across Peel Region, the housing market continued to gain momentum with sales increasing 11 month-over-month in May to 1,106 transactions. But despite stronger buyer activity, Zoocasa says prices \u201cremained remarkably stable\u201d at an average selling price of $956,019, up less than a per cent.<\/p>\n
\u201cAs the spring market transitions into summer, conditions appear to be settling into a more predictable pattern,\u201d Zoocasa says, adding that sellers remain active, with new listings increasing 3.5 per cent to 3,267 properties while active inventory climbed nearly 9 per cent to 5,053 homes available at the end of the month.<\/p>\n
The combination of rising sales, stable prices, and healthy inventory \u201csuggests a market that remains favourable to buyers while showing signs of greater balance than earlier in the year,\u201d Zoocasa says.<\/p>\n
To see listings available in Brampton, visit www.Zoocasa.com<\/a>.<\/p>\n