The Brantford-Brant housing market saw steady activity as part of broader national trends in December 2024, with real estate continuing to stabilize following a strong fourth quarter and a fall surge in supply. Nationally, home sales recorded through MLS® Systems dipped 5.8% in December compared to November, though sales were still 13% higher than in May, before the Bank of Canada’s first interest rate cut in June 2024.
Locally, Brantford and the surrounding region reflect the dynamics observed across Canada, where demand remains strong despite fluctuating inventory levels. Nationally, new listings declined for the third consecutive month in December, down 1.7% from November, while overall housing inventory remained below long-term averages.
The Canadian Real Estate Association (CREA) highlighted that the fourth quarter of 2024 marked one of the stronger quarters for sales activity in the past two decades, excluding the pandemic years.
December’s slowdown was largely attributed to limited supply, with CREA Senior Economist Shaun Cathcart noting, “The number of homes sold across Canada declined in December compared to a stronger October and November, although that was likely more of a supply story than a demand story.”
Looking ahead, Cathcart pointed to a potential surge in demand in the spring of 2025, as interest rates are expected to reach their lowest point in the current easing cycle and sellers list properties in greater numbers.
For Brantford-Brant, this could mean a continuation of the rebound experienced last fall.
Local REALTORS® are encouraging buyers and sellers to prepare now to capitalize on the anticipated burst of activity. Nationally, the average home price rose 2.5% year-over-year to $676,640 in December 2024, with the second straight month of gains pointing to growing stability in the market.
The national sales-to-new listings ratio eased to 56.9% in December, remaining in balanced market territory. Inventory levels stood at 3.9 months on a national basis, slightly higher than November’s 3.6 months but still below the long-term average of five months.
The Brantford-Brant region, known for offering more affordable housing compared to major urban centres in Ontario, is expected to remain attractive to buyers, particularly those seeking alternatives to high-priced markets like Toronto.
While national trends project stronger sales rebounds in British Columbia and Ontario due to greater inventory levels, Brantford-Brant is well-positioned to benefit from increased demand and competitive pricing.
With CREA forecasting an 8.6% increase in national home sales for 2025 and a 4.7% rise in the national average home price, Brantford-Brant’s market is likely to see increased activity, particularly as spring listings hit the market. The Bank of Canada’s continued easing of interest rates is expected to encourage more buyers to re-enter the market, providing a boost to local real estate.
As James Mabey, Chair of CREA, observed, “Spring in real estate always comes earlier than both sellers and buyers anticipate.”
For Brantford-Brant residents considering buying or selling in 2025, early preparation could be key to navigating a competitive market in the months ahead.
