A Tale of Two Markets in Brantford
This week I decided to have a look at both of Brantford’s Real Estate markets from the month of August.
Both? Yes, there are two:
- All listings that have been active for 35 days or less.
- All listings older than 35 days
The activity in these two markets are completely different.
63% of active listings were older than 35 days, and to some that might seem like a buyer’s market scenario in Brantford, but that’s not exactly the case.
There were 82 sales of “fresh” listings in August versus the 37 sales of listings older than 35 days, so you can start to see that the buyer activity shows two completely distinctive markets. Even though there is a growing number of “stale” listings, the hot market of listings under 35 days old is really driving the ship.
These are my key take aways for you:
- Listings under 5 weeks on Market – Hot/Fast (sellers market)
- Listings over 5 weeks on Market – Much Slower (acting like a buyers market)
- If you are listing a home: Get the right price at launch, be prepared to adjust your pricing and marketing ASAP
- If you buying a home: Be ready to move quick on the new listings, go deal hunting on the older listings