The latest round-up of house sales in Brampton show prices saw the average price of a condo drop below $400 while sales plummeted more than 46 per cent.<\/p>\n
The numbers come from real estate website Zoocasa, which says home sales across all residential property types fell 3.9 per cent month-over-month in July to 498 transactions, while the average selling price slipped just 0.3 per cent to $885,702.<\/p>\n
Average home prices across all property types have remained below $900,000 since around December 2024 in Brampton, according to Zoocasa data.<\/p>\n
Zoocasa says the condo apartment market saw \u201cthe biggest challenges\u201d in July, with sales dropping 46.3 per cent from the previous month to just 22 transactions. The average selling price also came down with a 7.5 sip to $399,331 \u2013 the largest decline of any housing type in Brampton.<\/p>\n
Freehold townhouses had the biggest sales jump of 10.4 per cent, even as new listings increased 10.9 per cent. This shows that buyers \u201ccontinued to absorb the additional supply\u201d in Brampton.<\/p>\n
Condo townhouses also had a strong month and posted Brampton\u2019s only price increase with a jump in the average selling price of 5.4 per cent to $565,792. Homes in the condo townhouse market also sold more quickly compared to other property types, with average days on market falling from 44 in June to 37 in July.<\/p>\n
Detached homes, which traditionally are the most popular property type in Brampton, remained relatively stable on price while the number of sales slowed. But the average number of days on market increased from 28 in June to 41 in July, \u201csuggesting buyers are taking more time before making offers,\u201d Zoocasa says.<\/p>\n
The housing market across Peel Region \u201ccontinued to cool\u201d last month, as weaker demand was matched by
a decline in new supply, Zoocasa says. Home sales fell 9.8 per cent in Brampton, Mississauga and Caledon as a whole to 1,053 transactions, while the average selling price dropped 5.8 per cent to just over $910,000.<\/p>\n
New listings across the region dropped 12. per cent to 2,875 properties, and active inventory slipped 2.6 per cent to 5,055 homes.<\/p>\n
And even though supply became tighter across the region, it wasn\u2019t enough to offset slower buyer activity as homes continued to sell at the same pace as June, averaging 48 days on the market.<\/p>\n
\u201cTaken together, the data suggests the market remains balanced but is gradually shifting in buyers\u2019 favour, with lower prices and steady selling times giving purchasers continued leverage,\u201d Zoocasa says.<\/p>\n
For more information on listings available in Brampton, visit www.Zoocasa.ca<\/a>.<\/p>\n