With Toronto's house prices continuing to climb (and owning a home becoming increasingly impossible), more people have flocked outside the 6ix to smaller towns in the province.
A recent article by real estate company REMAX revealed that Brantford's housing market is popping off. The town's housing prices are lower compared to other areas of the province, and its proximity to the GTA and Niagara Falls makes it a desirable place to live.
This small(ish) city in Ontario sold over 300 units by the end of June 2021, a new record for the month. Brantford home sales were 14.1% higher than its five-year monthly average, which, REMAX says, is "nowhere near normal for this region."
The Multiple Listing Service (MLS) System's Home Price Index for Brantford showed that the median home price in June 2021 saw a 40.2% year-over-year increase, coming in at an average of $632,800 per home.
In July, the average value of a detached home sold in Brantford went up by 4.6% compared to June. REMAX reported that detached homes clocked in at an "astonishing" average of $777,026 that month.
The end of June also saw the lowest amount of active residential listings in Brantford's real estate market in over 30 years, which was 203 units.
In July, a Zoocasa report revealed that Oakville is one of the most expensive Ontario towns to buy a home, with Bancroft being the cheapest.