The number of homes sold through the MLS® System of the Brantford Regional Real Estate Association came in well above year-ago levels for a second consecutive month in April 2012, but were not quite as strong as they had been in March.
According to statistics reported by the Association, home sales numbered 189 units in April 2012. This was up by a 28 per cent year-over-year, albeit from a weak April in 2011.
“Demand cooled off a bit in April compared to what we saw in March, but nevertheless remained on a solid footing,” said Laurel Hammer, President of the Brantford Regional Real Estate Association. “We’re basically looking at a fairly average level for sales right now and a well balanced market. The big year-over-year increase in activity is mostly a reflection of a quiet month of April last year.”
The average price of homes sold in April 2012 was $241,234, up three per cent from April 2011.
New residential listings numbered 338 units in April, up 14 per cent from a year earlier. There were 692 active residential listings on the Association’s MLS® System at the end of April, down two per cent from the same month in 2011.
There were 3.9 months of inventory at the end of April 2012 on a seasonally adjusted basis. This was up from 3.4 months at the end of March. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of home sales in April 2012 totalled $45.6 million, up 32 per cent on a year-over-year basis.
Total sales activity in Brantford numbered 199 units in April 2012, up 28 per cent from the same month in 2011. The total value of all property sales amounted to $50 million, 29 per cent above levels reported in April 2011.
The Brantford Regional Real Estate Association serves an area of Southwestern Ontario that includes the rural areas and communities in Brant County, which includes the City of Brantford, Town of Paris, Villages of Burford, Mount Pleasant, Oakland, Scotland and St. George.