December statistics posted by the Canadian Real Estate Association show that the housing market in Brandon ended 2013 on a strong note.
There were a total of 31 sales of single detached homes in the city in December — a huge 72 per cent jump over a weak December in 2012. Any December sales figure above the 30 unit mark is considered quite strong by historical standards.
All told, however, home sales in 2013 declined from the year before. There were 648 single detached homes sold in Brandon through 2013, 14 per cent less than the all-time record set in 2012.
The median sale price for single detached homes was $252,000 in December 2013. That was an 18 per cent increase from December 2012, although the median price had dropped sharply in December 2012.
Properties spent much longer on market before selling in December 2013 than they had a year earlier. The median number of days on market for single detached home rose by 40 to 61 in December 2013. However, the association noted that a jump in the number of days that a home remains on the market is normal at the end of the year and that 2012 was more of an exception.
In total, $8.1 million worth of single detached homes changed hands in December 2013. That’s nearly double the amount a year before.
» Brandon Sun
Republished from the Brandon Sun print edition January 17, 2014