Brampton Housing Market Overview for May 2023

According to the Toronto Regional Real Estate Board, the real estate market in Brampton is heating up!

In May 2023, the average home price soared to an impressive $1,111,067, reflecting a remarkable 2% rise from the previous month. Although we saw a 3.1% decline compared to May 2022, the market remains resilient and full of opportunities!

Let’s dive into the numbers: 680 homes were successfully sold in May, marking an astounding 11.07% increase in sales compared to the previous year! We had 830 active listings available, showcasing a significant 34.5% decline compared to May 2022. The competition is fierce, and properties are moving fast!

Now, let’s take a closer look at the average prices for different types of homes:

• Detached homes stole the spotlight with an average price of $1,319,150! They experienced a solid 5% monthly increase, although there was a slight 2.7% decrease compared to last year.
• Semi-detached homes maintained their allure with an average price of $1,025,789. We saw a .74% monthly increase, but a .23% dip compared to May 2022.
• Townhomes were priced at an average of $952,136, showing a .92% monthly increase and a 3% yearly decrease.
• Condo townhome, the average price stood at $746,691, reflecting a 1.7% monthly increase, but a 7.3% decline compared to last year.
• Condo prices remain affordable, with an average of $569,953. They saw a .55% monthly dip, also a 7% yearly dip too.

 Whether you’re a first-time homebuyer, investor, or looking to upgrade, now is the time to seize the opportunity in Brampton’s red-hot market! Don’t miss out on your chance to own a piece of this thriving community. Contact our us today to navigate this dynamic market and find your dream home!