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Price Changes in Brampton, 2015-2018
Posted October 17th, 2018 under market updates.
Reflecting on the last three years, the market has seen some differences from the usual trends.
It appears that the crazy period of multiple-offer bidding wars, which lasted through 2016 and the start of 2017, is now in the past.
As a matter of fact, the sales-to-listings ratio has declined through the first 8 months of 2018, from January’s high of 55.7% to a low of 46% in September. (Compare this to the sales-to-listings ratio of 75% during 2016 and over 80% at the start of 2017!)
The table below summarizes the average selling prices for homes in Brampton from 2015-2018.
| apartments | condo townhomes |
freehold townhomes |
semi detached |
detached | |
|---|---|---|---|---|---|
| 2015 Jan | 218,600 | 294,100 | 389,500 | 415,300 | 527,200 |
| 2015 Dec | ▲ 235,400 | ▲ 312,600 | ▲ 408,200 | ▲ 440,700 | ▲ 574,200 |
| 2016 Jan | ▲ 242,800 | ▲ 318,600 | ▲ 444,700 | ▲ 470,100 | ▲ 606,400 |
| 2016 Jun | ▲ 257,900 | ▲ 355,300 | ▲ 475,300 | ▲ 508,200 | ▲ 664,200 |
| 2016 Dec | ▲ 271,300 | ▲ 371,400 | ▲ 498,400 | ▲ 531,900 | ▲ 687,700 |
| 2017 Jan | ▲ 302,000 | ▲ 433,000 | ▲ 580,000 | ▲ 613,000 | ▲ 785,700 |
| 2017 Feb | ▲ 313,800 | ▲ 446,800 | ▲ 598,900 | ▲ 633,400 | ▲ 826,000 |
| 2017 Mar | ▲ 330,600 | ▲ 465,800 | ▲ 619,000 | ▲ 659,900 | ▲ 857,200 |
| 2017 Apr | ▲ 341,400 | ▲ 481,200 | ▲ 629,600 | ▲ 667,500 | ▲ 871,200 |
| 2017 May | ▲ 345,900 | ▲ 483,000 | ▾ 627,900 | ▾ 663,500 | ▲ 871,600 |
| 2017 Jun | ▲ 346,700 | ▾ 477,400 | ▾ 622,800 | ▾ 658,800 | ▾ 861,600 |
| 2017 Dec | ▲ 346,900 | ▾ 465,700 | ▾ 601,800 | ▾ 638,600 | ▾ 823,800 |
| 2018 Jan | ▲ 347,677 | ▾ 460,000 | ▾ 590,400 | ▾ 622,000 | ▾ 796,700 |
| 2018 Jun | ▲ 362,000 | ▲ 473,000 | ▲ 604,700 | ▲ 630,600 | ▲ 815,600 |
| 2018 Oct | ▲ 363,800 | ▾ 471,000 | ▾ 602,800 | ▲ 633,700 | ▲ 817,400 |
| Overall | +66.4% | +60.1% | +51.3% | +52.3% | +55.0% |
After a long period of constant increases, late 2017 and early 2018 have shown drops for most types of property.
This opens the question of whether or not the market will experience a big adjustment in the near future, or a long period of flat prices while inflation catches up.
An adjustment would be painful but quick, whereas a flat market might require up to ten years of normal inflation to make the proper price adjustments to restore affordability.
Want to know more about current market trends? Just ask me, I'll be happy to help.
