The 2nd Quarter Edition (April-June) 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 exhibited mixed results over the past year. Detached home prices have decreased by 6.4%, while townhome prices have fallen slightly further, dropping 7.6%. Conversely, semi-detached homes have appreciated by 2.5%, and condos have seen a 4.3% increase.
Despite these price changes, detached homes are taking longer to sell, with average days on market increasing by 13.7% to 108 days. Townhomes have also experienced a rise in time on market, up 5 days to 12 days, a 140.0% increase. In contrast, semi-detached homes have sold significantly faster, decreasing from 24 days to an average of 13 days, a 45.8% decline. Condos have remained relatively consistent, increasing slightly from 15 days to 19 days, a 26.7% rise.
These trends suggest that buyers may have more negotiating power for detached homes and townhomes, a shift from the previous quarter when semi-detached homes and condos were more favorable for buyers.
Average Sale Prices (Q2 2024):
- Detached Home: $710,430
- Semi-Detached Home: $533,917
- Townhouse: $620,917
- Condominium: $514,964
1- Year Trends
Examined both Monthly & Quarterly
In Stratford, quarterly data is a much more accurate picture of the true market trends, due to the low number of sales in some months.
Average Sale Prices
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Second Quarter (April-June) year-over-year change from 2023 to 2024:
Detached Home: -6.4%
Semi-Detached Home: -7.6%
Townhouse: -2.5%
Condominium: +4.3%
Number of Sales
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Second Quarter (April-June) year-over-year change from 2023 to 2024:
Detached Home: +13.7%
Semi-Detached Home: -45.8%
Townhouse: +140.0%
Condominium: +26.7%
Price Per Square Foot ($/SQFT)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Second Quarter (April-June) year-over-year change from 2023 to 2024:
Detached Home: -0.30%
Semi-Detached Home: -5.8%
Townhouse: +3.6%
Condominium: -4.5%
Percentage Sold Above Asking Price
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Second Quarter (April-June) year-over-year change from 2023 to 2024:
Detached Home: -126.7%
Semi-Detached Home: -138.1%
Townhouse: -134.2%
Condominium: -78.8%
Days to Sell (Median)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
- Detached homes have had a slight decrease to an average of 3 weeks on the market from 4 weeks at this time last year.
- Semi-Detached homes have had a slight increase to an average of 4 weeks on the market from 3 weeks at this time last year.
- Townhouses are selling on an average of 3 weeks compared to 4-5 weeks at this time last year.
- Condos have taken longer to sell at an average of 20 weeks on the market from 5 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.
