Brampton’s Low Housing Supply Causes Faster Turnover and Increased Sales
The report noted that the overall average price of residential properties across Ontario increased by 4% last month compared to March.
Brampton is facing a shortage of housing supply, leading to increased sales and faster turnover compared to other regions in Ontario. According to a report by Zoocasa.com and the Toronto Regional Real Estate Board, Brampton had the highest number of homes sold in the Region of Peel last month, with 660 properties changing hands, representing a 9.27% increase from March. However, Brampton also has the lowest inventory of for-sale housing in Peel, with only two months’ worth of supply. This low stock is causing properties to move quickly, with an average of just 20 days on the market, compared to Mississauga’s 23 days and Caledon’s 29 days.
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