Brampton housing prices at highest point since 2017

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In June the average price of a home approached record setting territory that was set in spring 2017 when there was a housing market frenzy.

According to the latest monthly tracking data from the Toronto Real Estate Board (TREB), the average selling price for all types of dwellings in Canada’s ninth-largest city last month clocked in at $744,590. That represented a seven per cent year-over-year increase compared to June 2018.

It was also the highest monthly average seen since March 2017, when Brampton real estate hit a record average of $765,156 for all types of dwellings.

All four market segments measured by TREB — detached homes, semi-detached homes, townhouse-style condominiums and apartment-style condos — experienced year-over-year growth in sale price last month, with only condo apartments seeing a slight dip in total sales from 54 last June to 48 this past month.

A detached home in Brampton fetched an average of $856,338 last month across 518 sales, a 5.1 per cent increase compared to June 2018 when 407 units sold for an average of $814,711.

TREB listed the average sale price for semi-detached units in June at $674,629 based on 185 sales, representing a 5.8 per cent year-over-year price jump and 161 more sales.

Meanwhile, townhouse-style condos saw an increase from an average of $486,407 and 59 sales in June 2018 to $499,635 and 63 sales in June 2019.

Apartment-style condos jumped 14.9 per cent year-over-year from an average of sale price of $359,699 in June 2018 to a record-breaking average of $413,419 last month. -CINEWS

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