February 2022 Market Report: A slight change in the market this month

Certain homes are still receiving their “bazooka” prices, however be aware there has been a slight shift in the market. More inventory has started to appear on the market which means not as many buyers are competing over the same home.
What does this mean?

Sellers – Your home needs to be at the right price point to be aggressive. If you overprice your home in this market it still won’t sell.

Buyers – Don’t give up yet, there are now more listings to choose from and you might even snag one with conditions on your offer.

Every home and price point has a story and needs strategy. in this fast paced changing market, experience matters!

Brantford

Average Sale Price – $855,659 (January: $889,520)

In February, 193 properties were sold – an increase of 17% from the same month as last year. At the same time, the number of total homes for sale has decreased by 30%, and the number of new homes coming onto the market has decreased by 2%. The time to sell a home was 9 days on average. The average selling price is currently 128.4% of the asking price.

Paris

Average Sale Price – $1,030,652 (January: $1,138,956)

In February, 31 properties were sold – a decrease of 3% from the same month as last year. At the same time, the number of total homes for sale has increased by 77%, and the number of new homes coming onto the market has increased by 48%. The time to sell a home was 7 days on average. The average selling price is currently 127% of the asking price.

Brant County

Average Sale Price – $1,188,998 (January: $1,372,602)

In February, 59 properties were sold – an increase of 16% from the same month as last year. At the same time, the number of total homes for sale has increased by 13%, and the number of new homes coming onto the market has increased by 57%. The time to sell a home was 11 days on average. The average selling price is currently 118.7% of the asking price.

Woodstock

Average Sale Price – $829,035 (January: $822,983)

In February, 84 properties were sold – an increase of 17% from the same month as last year. At the same time, the number of total homes for sale has increased by 33%, and the number of new homes coming onto the market has increased by 17%. The time to sell a home was 7 days on average. The average selling price is currently 119.2% of the asking price.

Haldimand

Average Sale Price – $883,385 (January: $894,950)

In February, 76 properties were sold – an increase of 41% from the same month as last year. At the same time, the number of total homes for sale increased by 54%, and the number of new homes coming onto the market has increased by 81%. The time to sell a home was 13 days on average. The average selling price is currently 116.5% of the asking price.

Norfolk

Average Sale Price – $729,427 (January: $721,025)

In February, 86 properties were sold – an increase of 23% from the same month as last year. At the same time, the number of total homes for sale increased by 23%, and the number of new homes coming onto the market has increased by 49%. The time to sell a home was 8 days on average. The average selling price is currently 113.5% of the asking price.

Oxford County

Average Sale Price – $840,810 (January: $856,683)

In February, 181 properties were sold – an increase of 12% from the same month as last year. At the same time, the number of total homes for sale has decreased by 4%, and the number of new homes coming onto the market has increased by 26%. The time to sell a home was 6 days on average. The average selling price is currently 117.6% of the asking price.

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