Brampton Housing Market Sees Surge in Inventory, Prices Remain Stable
Despite several Greater Toronto Area (GTA) communities struggling to meet housing demand, Brampton witnessed a significant increase in the number of houses for sale last month. The supply of homes has been low in Brampton in recent months, resulting in accelerated sales compared to other parts of the province.
Data from Zoocasa.com, a real estate website, indicates a substantial rise in the number of houses listed on the market in June, while prices remained relatively stable. In May, Zoocasa reported a low housing stock in Brampton, with only a two-month supply available given the existing demand. This scarcity drove quick property turnover, with homes spending an average of approximately 20 days on the market.
However, June witnessed a surge of 1,517 new listings, representing a 41 percent increase in supply compared to the preceding month, which had only 830 active listings.
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