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Stratford Real Estate Prices, Everything You Need to Know: 3rd Quarter Review 2023

 

The 3rd Quarter Edition (July-September) 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


Throughout the 3rd Quarter, detached home prices have steadily increased over the three-month period. On the other hand, Semi-Detached, Townhouses, and Condominiums experienced a decline in pricing from July to September, with the exception of townhouses, which saw a significant increase in August. Detached home prices rose by a noteworthy 11.8%, and semi-detached homes also saw a 12.3% increase compared to the 3rd Quarter of 2022. However, the total sales volume has slightly decreased compared to the same time last year, with 105 sales this year compared to a total of 125 in 2022.

Average Sale Prices (Q3 2023):

  • Detached Home: $844,940
  • Semi-Detached Home: $547,000
  • Townhouse: $508,333
  • Condominium: $496,000

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. Quarterly data examines the average of each quarter for the specific property type.


Average Sale Prices

Monthly

 

Missing inputs due to lack of sales or single outlier skewing the data.

Quarterly

 

Third Quarter (July-September) year-over-year change from 2022 to 2023:

Detached Home: +11.8%
Semi-Detached Home: +12.3%
Townhouse: +5.8%
Condominium: -5.4%


Number of Sales

Monthly

 

Missing inputs due to lack of sales or single outlier skewing the data.

Quarterly

 

Third Quarter (July-September) year-over-year change from 2022 to 2023:

Detached Home: -10.2%
Semi-Detached Home: -41.2%
Townhouse: -14.3%
Condominium: -23.1%


Price Per Square Foot ($/SQFT)

Monthly

 

Missing inputs due to lack of sales or single outlier skewing the data.

Quarterly

  

Third Quarter (July-September) year-over-year change from 2022 to 2023:

Detached Home: +0.5%
Semi-Detached Home: -0.4%
Townhouse: +14.7%
Condominium: +4.4%


Percentage Sold Above Asking Price

Monthly

 

Missing inputs due to lack of sales or single outlier skewing the data.

Quarterly

 

Third Quarter (July-September) year-over-year change from 2022 to 2023:

Detached Home: -53.8%
Semi-Detached Home: -55.2%
Townhouse: -69.2%
Condominium: -85.8%


Days to Sell (Median)

Monthly

 

Missing inputs due to lack of sales or single outlier skewing the data.

Quarterly

  • Detached homes are now taking an average of 4-5 weeks to sell, which is more than double the 2-week timeframe in Q3 2022.
  • Semi-Detached homes are selling on average within 3 weeks, a doubling of the 1-2 week timeframe observed in Q3 2022.
  • Townhouses have remained consistent since Q3 2022, with an average selling time of just over one week.
  • Condos, on the other hand, currently require an average of 6-7 weeks to sell, representing a notable difference from the average selling time of 4-5 weeks observed during Q3 2022.

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.


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