Semi-detached and townhouse sales see more than 13% jump in Brampton

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Published July 4, 2024 at 2:43 pm

Semi-detached and townhouse sales see more than 13% jump in Brampton

While some Ontario cities saw a drop in sales last month the housing market in Brampton trended upwards with more buyers opting for less-popular types of listings.

Some 489 homes traded hands in Brampton in June, up 1 per cent from May with an average price of just over $1,009,800, according to a report from real estate website Zoocasa.

Across the GTA home sales dropped more than 16 per cent in June of this year compared to the same period in 2023 while active listings saw “a significant increase” of 67.4 per cent.

And even though detached homes have long been the hottest sellers and most in-demand properties in Brampton, June saw both semi-detached and townhouse sales jump more than 13 per cent compared to the previous month.

“Typically Brampton buyers gravitate toward detached properties, but semi-detached, townhouse, and condo apartments all saw month-over-month increases in sales,” the report reads.

RELATED: Home sales slow as all property types down more than 6% in one month in Brampton

Detached home sales increased by less than one point, up 0.8 from May, and detached listing days on the market jumped to 23 days – the first time since February they increased from 20 days.

Condo apartments stayed on the market for the longest amount of time in June with listing days on market at 33 days.

With more homes staying on the market for longer, Zoocasa says its a signal of “cooling in buyer demand” in the city even though Brampton’s overall market “remained resilient” last month.

Brampton may have seen a slight uptick in sales but home deals across Peel Region dropped 6.4 per cent from May to June. The average home price across the region rose by 0.6 per cent from May to $1,077,628, and homes sat on the market longer with the average days on market up to 33.

“This slowdown may signal that homebuyers are waiting for further rate cuts before jumping off the sidelines,” Zoocasa said, adding that sellers could end up offering more competitive pricing to attract interest while buyers are taking longer to make purchasing decisions.

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