Home sales tumbled more than 11 per cent in Brampton last month as new listings saw a significant drop, but the average sale price stayed almost flat despite a lack of buyer activity.<\/p>\n
Brampton\u2019s real estate market saw a \u201cseasonal slowdown\u201d in August according to real estate website Zoocasa, with sales dropping 11.6 per cent month-over-month from July to 440 transactions.<\/p>\n
The average selling time on market jumped from to 55 days in August compared to 47 days in July \u2013 a sign that buyers were \u201cmore cautious as market activity slowed\u201d through the summer, Zoocasa says.<\/p>\n
But despite the slow down in sales, prices remained steady with an average selling price dipping slightly by 0.1 per cent to $886,865 across all property types.<\/p>\n
\u201cThe stability in overall pricing suggests that the reduction in buyer activity did not translate into significant downward pressure on values,\u201d the Zoocasa report says.<\/p>\n
And although August saw low sales, Brampton\u2019s balanced inventory levels and steady prices \u201cindicate a market that remains relatively stable, with buyers continuing to benefit from more time and flexibility during negotiations.\u201d<\/p>\n