Brampton real estate market update
Price have risen by 35% since last year
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Low prices, high demand. That pretty much sums up the housing market in Brampton right now, but that type of market can’t last. Something’s got to give. For now, affordability appears to be on the losing end of this equation in this seller’s market.
Through the first quarter home prices in Brampton are up nearly $200,000 over the same period a year ago—that’s a 35% increase. Most of the activity is being driven by detached, single-family homes, particularly by buyers in looking in the upper end of the market, according to Re/Max’s 2017 Spring Market Trends Report. But the spike in activity could work to tame the market later this year. Re/Max suggests the heightened activity will likely encourage more sellers to list their homes, which should create a more balanced market.
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