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<\/p>\nThe average home price came down 4 per cent in Brampton at the start of the fall season, while sales of some property types dropped 25 per cent.<\/p>\n
The data comes from the Toronto Regional Real Estate Board and shows Brampton\u2019s market stayed \u201crelatively flat\u201d throughout September, with 404 sales across all property types.<\/p>\n
That\u2019s a drop of 8 per cent month-over month, the report says.<\/p>\n
The average sale price dropped 4 per cent to $854,322, while new listings increased per cent to 1,073 properties.<\/p>\n
The detached and semi-detached home markets remained the most active in Brampton last month, with 234 detached home sales (down 10-per cent from August), while the average selling price dipped 1.9 per cent to $1,001,613.<\/p>\n
And while there were 617 new detached and semi-detached listings in September (up more than 8 per cent) properties, the surge in supply wasn\u2019t enough to spark a \u201cfall market comeback\u201d that some sellers may have been expecting,<\/p>\n
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Zoocasa says the semi-detached home market \u201cfollowed a similar pattern.\u201d<\/p>\n
Semi-detached sales dipped 25 per cent month-over-month, while the average selling price came up just 0.5 per cent to $778,223.<\/p>\n
That \u201cmodest price increase\u201d could reflect a drop in new semi-detached listings of 4.5, limiting the amount of new inventory available to buyers, Zoocasa says.<\/p>\n
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The rest of Peel Region as a whole saw \u201crelatively flat\u201d markets from August to September.<\/p>\n
Zoocasa says there has been \u201clittle sign of the typical fall market rebound seen before the pandemic,\u201d with home sales down 0.4 per cent from August while average selling prices edged down 0.2 per cent to $906,719.<\/p>\n
Supply was up nearly 16 per cent in August, but active listings dipped to 1.6 per cent by the end of September.<\/p>\n
\u201cOverall, the increase in new supply did not translate into a significant shift in market conditions, as buyer activity remained relatively subdued heading into the fall,\u201d Zoocasa says.<\/p>\n
To see listings available in Brampton, visit www.Zoocasa.com<\/a>.<\/p>\n