Condo, townhome sales jump more than 30% as new listings drop in Brampton

Home sales across all property types saw a more than 25 per cent increase in Brampton with condos and townhouses leading the way.

While the number of new listings on the Brampton real estate market took a tumble with 15.5 per cent fewer in October compared to the previous month, but overall sales jumped 27 per cent for all property types according to real estate website Zoocasa.

There were a total of 287 properties trading hands last month with an average price of $1,183,059, dipping just a half per centage point from September.

Freehold townhouses and condo apartments saw the biggest sales spike increasing by 34.6 per cent and 33.3 per cent month-over-month respectively.

Townhouse prices also dropped by 2.5 per cent to an average of $859,877 for October, while condo apartment prices jumped by the same amount to an average of $534,175.

Semi-detached properties didn’t see the same increase but still saw a spike of more than 28 per cent with a drop in the average price of 5.3 per cent to $883,265. New listings remained relatively steady, down by just 1.3 per cent with an average of 21 days on the market.

Looking at all of Peel Region, sales increased by 28 per cent month-over-month with 1,162 homes trading hands.

Despite the increase, the average price has remained flat at $1,077,093, increasing month-over-month by less than 2 per cent “indicating buyers still have negotiating power in the current market,” Zoocasa says.

New listings dropped by 14 per cent month-over-month in Peel to 2,712 properties.

“It’s typical for new listings to slow down around this time of year, as Canadians often pause real estate activity in anticipation of the holiday season and colder weather,” Zoocasa says, adding that active listings also saw a 6 per cent month-over-month decrease in Peel.

Home sales last month across the province saw increases of 44 per cent across the board in the GTA compared to October 2023.

The Toronto Regional Real Estate Board credited the spike to tighter market conditions compared to 2023, and a marginal increase in the average selling price of homes in cities like Toronto, Mississauga, Brampton and Hamilton.