Realtor says Brant, Norfolk housing prices to continue to rise in spring

A local realtor says the housing prices in Brant and Norfolk counties will continue to rise this spring.

According to the Brantford Regional Real Estate Association, the average price of homes sold in January 2022 was a record $913,423, an increase of 39 per cent from January 2021. The Simcoe and District Real Estate Board says the median price of homes sold last month was $738,047.

“We’ve definitely seen a major increase in Norfolk County and that’s just all of that overflow coming from Brantford and Brant County where the prices have literally exploded,” said Kate Broddick, leader of the Kate Broddick Team of Revel Realty Inc.

“A 40 per cent increase in January, which is unbelievable for the housing market.”

Broddick said the high cost of houses in the GTHA have led buyers to Brant County. Prices are now increasing in Brant County as well due to more demand, leading people to Norfolk County instead.

“Basically people were driving until they could afford a home,” she said.

These areas are also seeing similar selling trends to the GTHA – including bidding wars – which is why Broddick recommended working with a real estate agent.

“We’re always telling our buyers we need to have some sort of strategy in order to get into this market,” she said.

“We’re really making sure they have their solid pre-approvals, their down payments and we’re educating them on the market because in order to get in, you have to be aggressive.”