The 1st Quarter Edition (Jan-Mar) of our Stratford Real Estate Market Report will examine:
- Number of Sales
- Average Sale Price
- Price Per Square Foot ($/SQFT)
- Days on Market
- List Price to Sale Price Ratio
Summary
The Stratford real estate market has experienced a decrease in home prices since this time last year. However, homes are taking longer to sell, indicating a shift towards a buyer’s market. This means that buyers have more bargaining power when it comes to negotiating prices and terms of sale. Nonetheless, the overall state of the Stratford real estate market remains stable, with properties still in demand and available for purchase.
Average Sale Prices (Q1 2023):
- Detached Home: $662,217
- Semi-Detached Home: $566,117
- Townhouse: $526,604
- Condominium: $493,813
1- Year Trends
Examined both Monthly & Quarterly
In Stratford, quarterly data is a much more accurate picture of the true market trends, due to the low number of sales in some months.
Average Sale Prices
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2022 to 2023:
Detached Home: -20.4%
Semi-Detached Home: -11.9%
Townhouse: -16.7%
Condominium: +4.3%
Number of Sales
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2022 to 2023:
Detached Home: -38.7%
Semi-Detached Home: -42.9%
Townhouse: +11.1%
Condominium: -78.6%
Price Per Square Foot ($/SQFT)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2022 to 2023:
Detached Home: +10.1%
Semi-Detached Home: +6.5%
Townhouse: -19.0%
Condominium: +16.3%
Percentage Sold Above Asking Price
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2022 to 2023:
Detached Home: -104.2%
Semi-Detached Home: -87.9%
Townhouse: -108.6%
Condominium: -110.1%
Days to Sell (Median)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
- Detached and Semi-Detached homes have now increased to an average of 5 weeks on the market from 1 week at this time last year.
- Townhouses are selling on an average of 4-5 weeks compared to 1 week at this time last year.
- Condos are staying fairly consistent and remain between 1 week to 2 weeks.
All statistics gathered independently from Huron Perth Association of REALTORS®.
This publication is not to be copied or duplicated without the express written permission of Roxanne Finn.
This publication is not intended to solicit buyers or sellers currently under contract with a brokerage.
