Buyer’s market in Brampton as average house price dips to $885K

The Brampton housing market continued to favour buyers with an increase in sales and a drop in the average asking price last month.

Data from real estate website Zoocasa shows a more than 8 per cent increase in home sales in Brampton last month, up to 406 transactions from 375 transactions in March.

The average price across all property types dropped to $885,936 in April, down 0.8 per cent month-over-month from $892,085.

Detached and semi-detached homes drove most of the sales activity in Brampton last month, with both markets seeing “more sales, slightly softer prices, and rising inventory,” according to a report by Zoocasa.

Detached home sales increased nearly 11 per cent to 225 transactions and an average price of $1,018,564, dipping 1.2 per cent from March. And new detached listings also jumped 22 per cent, “giving buyers more negotiating power,” Zoocasa says.

Semi-detached homes also saw a double-digit increase in sales, up 14.7 per cent, with 78 transactions. Prices dipped slightly by 1 per cent to $804,242, while new listings rose more than 22 per cent.

“Brampton’s housing market remains aligned with broader Peel Region trends, with conditions continuing to favour buyers,” Zoocasa says.

Across Mississauga, Brampton and Caledon, the housing market continued to gain momentum in April with sales spiking more than 13 per cent month-over-month to 996 transactions.

But despite the increase in activity, prices remained “relatively flat” across Peel Region, with the average selling price down by 0.7 per cent to $950,415 – something Zoocasa calls “a sign that buyers still have the upper hand as inventory builds.”

“Overall, while market conditions still favour buyers, the combination of rising sales and faster transaction times points to a steadily strengthening spring market,” the report reads.

To see listings available in Brampton, visit www.Zoocasa.com.