[vc_line_chart x_values=”JAN; FEB; MAR; APR” values=”%5B%7B%22title%22%3A%222016%22%2C%22y_values%22%3A%22554%3B%20775%3B%20941%3B%201023%22%2C%22color%22%3A%22chino%22%7D%2C%7B%22title%22%3A%222017%22%2C%22y_values%22%3A%22548%3B%20835%3B%201030%3B%201040%22%2C%22color%22%3A%22mulled-wine%22%7D%5D” title=”Number Of Sales”]

SOLDS FROM JANUARY 1ST TO APRIL 30

2016: Number of homes sold over asking price: 41%
2017: Number of homes sold over asking price: 77%

SOME GOOD NEWS FOR BUYERS

#1: There are over 1,100 homes for sale right now in Brampton. More supply means buyers will not need to be as aggressive in a bidding war situation because something new is likely to now pop up in a few days.

#2: As the crazy bidding wars have less buyers competing for the same house chances are homes will not be selling $100,000 over asking.

#3: Will prices come down? That’s difficult to predict. I haven’t noticed a price drop in a long time. What it does mean is that the rate that prices were going up at will “calm down” a bit.

#4: I’m personally noticing fewer listings are holding back on offers and the Days On Market seems to be climbing a little bit.

In summary, buyers can now relax just a little bit as there are homes to choose from and they can actually take some time to shop around.