Home prices ‘stable’ as sales jump more than 10% in Brampton: report

Home sales across all property types spiked more than 10 per cent last month while prices stayed “stable” and under $900,000, according to a new report.

Data from real estate website Zoocasa shows the average home sale price in Brampton crept up slightly to $889,407 in May from $885,936 April.

Detached homes remained the most popular in Brampton with a 10.7 per cent increase in sales to 249 transactions, while the average price increased “modestly” by 0.5 per cent to $1,023,135, Zoocasa says.

The semi-detached homes posted similar stability, with a 4 per cent spike in sales up to 81 transactions. The average price from semi-detached homes rose 0.6 per cent to $808,929, and inventory growth increased 12 per cent month-over-month.

“With 216 semi-detached homes available, buyers in this segment continue to benefit from a healthy selection of properties,” Zoocasa says.

Sales across all property types were up 12 per cent in Brampton last month with more than 450 transactions.

Supply growth in Brampton heading into summer “appears to be moderating” compared to earlier in the spring, Zoocasa says. New listings were up just 2 per cent last month to 1,431 properties, while active inventory rose 8.8 per cent to 2,133 homes available at the end of the month.

The signs point to “seasonal peak” conditions for buyers “who have been waiting for a significant increase in inventory,” Zoocasa says.

Across Peel Region, the housing market continued to gain momentum with sales increasing 11 month-over-month in May to 1,106 transactions. But despite stronger buyer activity, Zoocasa says prices “remained remarkably stable” at an average selling price of $956,019, up less than a per cent.

“As the spring market transitions into summer, conditions appear to be settling into a more predictable pattern,” Zoocasa says, adding that sellers remain active, with new listings increasing 3.5 per cent to 3,267 properties while active inventory climbed nearly 9 per cent to 5,053 homes available at the end of the month.

The combination of rising sales, stable prices, and healthy inventory “suggests a market that remains favourable to buyers while showing signs of greater balance than earlier in the year,” Zoocasa says.

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