Nina Asusa, Broker

Nina's journey in real estate began in the early 1990's where her passion for real-estate quickly grew from an investor and home renovator, to where she is today. In 2006*, Nina launched her full-time real estate career and quickly found herself helping her clients, who many became friends, achieve not just any lifestyle, but the lifestyle they wanted for themselves. Her model was and always will be ''Don't follow someone else's story; create your own story, create your own lifestyle, because 'home is where your story begins.'''  From a single realtor, to developing a strong team of realtors she personally mentored and later owning a real estate brokerage firm, Nina's focus remained the same. She continues to channel her high energy and extensive experience into understanding her client's needs and wants, and in helping them in their real estate journey. Nina's greatest honour is the trust others grant her when welcoming her in their life's journey.

As Home Prices Rise in Brampton, This May Be the Best Time to List Your Home

By: Nina Asusa

As Home Prices Rise in Brampton, This May Be the Best Time to List Your Home

Tags: BRAMPTON REAL ESTATE, HOUSING MARKET REPORT, SEPTEMBER 2021, SEPTEMBER 2020, REAL ESTATE, GTA, HOMEBUYING

September marked the end of the typically slower summer market and the start of the active fall market in the Greater Toronto Area. Each year, after Labour Day, a surge in sales, average selling price, and new listings occurs; this was the case in September 2021 as well. It was the third-highest sales total in September on record and the average selling price grew year over year.

However, when we look at Brampton sales, they fell to 854 in September 2021, a little decrease from the previous month's total of 883. Nonetheless, the average price rose by more than $12,000 (over August 2021). When we look at September 2021 in comparison to September 2020, we can see that the number of sales fell by 25.1 percent while the average price grew by a staggering $211,111.

According to the most recent MLS data, the average price of a home in Brampton is $1,072,988, up 24.5 percent from the previous year, while the number of new listings fell by 41.6 percent.  The lack of inventory across cities has had the most impact on pricing, Brampton is not immune to this tendency.

Brampton has had 9,728 sales and 13,661 new listings so far this year.  Whereas the first three quarters of 2020 saw 7,083 sales and 11,195 new listings. This demonstrates unquestionably that 2021 has been a better year for homebuyers and sellers in particular.



The graph above depicts a dramatic rise in pricing in the Brampton Community from 2020 January prices of $764,826 to September 2021 prices of $1,072,988 (a 40.3 percent increase, just shy of 2 years).

 

 



Between September 2020 and September 2021, the average price of detached and semi-detached homes increased significantly. This can be observed by comparing the various property types above. The price of condominiums has risen by a far less amount as compared to single-family and semi-detached houses. However, this may be advantageous to certain homebuyers, as the average price of condos in other parts of the GTA is still quite high. Budget-conscious homebuyers will be able to take advantage of this opportunity.


There’s No Doubt About It: This is a Sellers’ Market
Demand for homes continues to outstrip supply, which is great news for sellers. In the Toronto Regional Real Estate Board’s MLS System, in which most of Brampton’s homes are listed for sale, there has been on average only 0.9% months of inventory.  That means, on average in every month of 2021, it took less than one month to sell off its inventory of homes for sale.  To put that into perspective, in balanced markets with similar numbers of buyer and sellers, there is typically a three to six -month supply of homes. Do you keep hearing about a seller’s market?  Now, you can understand why that is the case.

Supply issues often have a considerable impact on buyers.  Buyers who have done their homework and have prepared well with their Realtors and Mortgage Advisors, are usually in the best position to negotiate at any time – be it a buyers, sellers or balanced market.  If you are considering investing in your own piece of real estate, do you part and research what it will take to accomplish that.  Get aligned with the right professionals who will help you navigate the current market, even if the inevitable happens and you find yourself in a multiple offer (aka “bidding wars”) scenario.

The low inventory scene as mentioned, means it’s a great time to sell if you’re a seller.  Your home may be the type of home most buyers would be interested in purchasing-right now detached and semi-detached homes are quite popular for various reasons.  Selling at a time like now, increases the likelihood of a bidding war for your home or at the very least, getting most the terms you are looking for.  Just make sure to work with a reputable team like The askNina Team and get good advice to make sure you’re also protected in your efforts to move to another home using the equity in your current one.


Curious about what your home could be worth? Click here to find out!



Perhaps Brampton is a Good Fit for You!
Looking for a community with strong educational opportunities and good public transportation to Downtown Toronto that is also dynamic, diverse, and multicultural? If any of these statements apply to you, Brampton, Ontario, welcomes you.


Click here to view all of the properties that are currently for sale in Brampton.


In today's inventory desert, buyers are looking for some solace. If you list your home now before new possibilities hit the market this Fall/Winter, it will have the best chance of being seen by a wide range of potential buyers. The askNina Team is here to help whether you’re buying or selling, click here to get in touch with us today!