The temperature hasn\u2019t been the only thing heating up in Brampton this summer as the city\u2019s real estate market has seen an influx of sales with prices below the Greater Toronto Area-average.<\/p>\n
The data comes from the latest Toronto Regional Real Estate Board (TRREB) report and shows homes across all markets are taking more time to change hands, with the average listing days-on-market climbing to 29 days in June from 26 days a year earlier.<\/p>\n
As the summer market gets underway, TRREB says Peel and York regions are helping drive much of the suburban sales outside Toronto. Mississauga saw 592 sales at an average price of $1.19 million last month, while Brampton followed with 518 sales.<\/p>\n
But Brampton\u2019s average price of $966,024 comes in \u201cnotably below\u201d both Mississauga\u2019s average of $1.19 million and the GTA\u2011wide average of $1.06 million, the report says.<\/p>\n
The lower prices in Brampton show how the city\u2019s real estate marker is \u201creinforcing its role as a more affordable choice for families looking to trade up without crossing the million\u2011dollar mark on every purchase,\u201d according to the report.<\/p>\n
The TRREB says Peel and York regions accounted for the bulk of suburban transactions outside Toronto in June, \u201cshowing that early summer demand is clustering in these higher\u2011amenity hubs even as price points diverge sharply between more affordable markets like Brampton and top\u2011tier destinations such as Vaughan and Markham.\u201d<\/p>\n
\u201cFor buyers heading into the rest of the season, this split sets up a clear choice between stretching budgets to secure a home in the priciest pockets or targeting comparatively lower\u2011priced cities that still offer strong connectivity and family\u2011friendly neighbourhoods,\u201d the board says.<\/p>\n
Condo apartments continued to represent a significant share of GTA market activity in June, making up roughly 25 per cent of sales and ranking just behind detached homes for the number of transactions. Across all TRREB areas, 1,714 condos sold at an average price of $630,688 and a median of $540,000, with units spending about 38 days on the market.<\/p>\n