Brampton real estate prices shatter records in August but sales fall

Sales prices of all home types set new highs in Brampton in August 2021.

The Toronto Regional Real Estate Board (TRREB) reported an  average sale price of $1,060,277 for all dwelling types combined for August 2021 compared to an average of $1,026,255 in March 2021. 

This is a 24.2% increase compared to August 2020.

The average sale price for Brampton detached homes in August showed a 28.9%increase in a year. Semi-detached units showed a 21.4%  increase. Townhouse-style condos showed a 11.1% increase. 

However, the number of new listings fell dramatically in August 2021 compared to August 2020, with 950 units hitting the market compared to 1,759 a year ago.

TRREB president Kevin Crigger says that “It is clear that the supply of homes is not keeping pace with demand, and this situation will become worse once immigration into Canada resumes,”

(Source)

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