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 seen mixed results in the past year. Detached home prices have declined by 1.0%, while townhome prices have dropped by a more significant 17.8%. Conversely, semi-detached homes have appreciated by 3.6%, and condos have seen a substantial increase of 11.6%.
Despite price changes, detached homes are taking longer to sell, with average days on market increasing by 54.1% to 57 days. Condos have experienced an even more dramatic rise in time on market, up 15 days to 95 days, a 566.7% increase.
These trends suggest that buyers may have more leverage in negotiating prices and terms for semi-detached homes and condos. However, the overall Stratford real estate market remains relatively stable, with properties still in demand and available for purchase.
Average Sale Prices (Q1 2024):
- Detached Home: $655,521
- Semi-Detached Home: $586,248
- Townhouse: $449,250
- Condominium: $551,288
1- Year Trends
Examined both Monthly & Quarterly
In Stratford, quarterly data is a much more accurate picture of the true market trends, due to the low number of sales in some months.
Average Sale Prices
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2023 to 2024:
Detached Home: -1.0%
Semi-Detached Home: +3.6%
Townhouse: -17.8%
Condominium: +11.6%
Number of Sales
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
First Quarter (Jan-Mar) year-over-year change from 2023 to 2024:
Detached Home: +39.1%
Semi-Detached Home: +12.5%
Townhouse: -40.0%
Condominium: -566.7%
Price Per Square Foot ($/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 2023 to 2024:
Detached Home: -7.2%
Semi-Detached Home: -1.7%
Townhouse: +4.9%
Condominium: -20.9%
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 2023 to 2024:
Detached Home: +25.7%
Semi-Detached Home: -106.5%
Townhouse: -131.9%
Condominium: +28.2%
Days to Sell (Median)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
- Detached homes have now increased to an average of 14 weeks on the market from 9 weeks at this time last year.
- Semi-Detached homes have decreased to an average of 8 weeks on the market from 9 weeks at this time last year.
- Townhouses are selling on an average of 2 weeks compared to 7 week at this time last year.
- Condos have taken longer to sell at an average of 24 weeks on the market from 2 weeks at this time last year.
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.
