Brandon Market Update November 2013

Local Market Statistics:

Trends show, Brandon's market is down over the past 2 years.  As we head into the winter months, now could be the best time for you, or anyone you know, to purchase a home.  Here's why:

Number of Sales are down 23% in the 100-200k range, down 8% in the 200-300k range,  down 15% in the 300-400k range and down 9% in the 400-500k range.    This is year to date, 2013 vs 2012. 

Now when comparing 2013 to 2011, sales are down 18% in the 100-200k range, UP 10% in the 200-300k range, down 1% in the 300-400k range, and UP 68% in the 400-500k range.  (Yes, I said up!)

What does this mean for you?  If you own a home, this means it could take longer than average to sell your home.  I could mean that prices are levelling off vs the past years consecutive increases.  It could mean you get less for your home because your motivation to sell is higher than the average.  The good news, if you already own a home, is this is still relative to the market.  If you get less for your home, the chances are, the home your buying will also get less = the difference is still the same.  So if your upgrading, take advantage of the rates, and don't wait until spring.

NOW, if you don't own, here's the benefit to you.   NOW IS THE TIME TO BUY!  Our prices are levelling off, but there's no guarantee they will be dropping anytime soon.  2012 was an exceptional year for home sales in Brandon, and there have been a few specific factors affecting our market that may not happen again.   With homes taking a little longer to sell, your able to make a sound decision on which one is best for you.  In the spring, you'll need to make that decision in a matter of minutes, or lose the house.

If you know anyone who might be thinking of waiting to buy in the spring, PLEASE have them contact me.  They could end up saving THOUSANDS by buying a home now.

(Information was created using Keystone Matrix Stats

 Month of October 13 vs 12 Month of October 13 vs 12 & 11

Market year to date vs 2012 & 2011

Larry Jago

Larry Jago

CENTURY 21 Westman Realty Ltd.
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