The 4th Quarter Edition (October-December) 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 displayed mixed yet encouraging trends when comparing Q3 2023 to this year. Detached homes have seen a steady price increase of +3.5%, while townhomes have risen by +6.7%. The most notable price increase, however, has been in semi-detached homes, with a significant +8.1% rise. In contrast, condominiums have experienced a downturn, dropping by -11.0% in value over the same period.
While prices have fluctuated, the time it takes to sell varies across property types. Detached homes are now staying on the market for an average of 77 days, a +26.2% increase from last year’s 66 days. On the other hand, townhomes are maintaining similar selling speeds, with a slight increase from 8 days to 9 days. Semi-detached homes, however, have experienced a notable spike in days on the market, rising from just 1 day to 4 days, marking a +300.0% increase. Condominiums have remained unchanged at 8 days on the market, mirroring last year’s pace.
This combination of price shifts and varying selling speeds highlights important considerations for both buyers and sellers. While detached and semi-detached homes have benefited from price growth, the longer time on the market for detached homes suggests a more measured pace for buyers. Townhomes and condominiums, however, have demonstrated stable demand, with little change in selling times. Sellers should keep an eye on pricing strategies and market timing, as these elements will be critical in achieving success. Buyers may find opportunities to negotiate on detached homes, while townhome and semi-detached buyers may face a more competitive environment with quicker turnover. Understanding these current trends is key for navigating Stratford’s real estate market effectively.
Average Sale Prices (Q4 2024):
- Detached Home: $667,472
- Semi-Detached Home: $554,283
- Townhouse: $578,333
- Condominium: $464,306
Total Sales (Q4 2024):
- Detached Home: 77
- Semi-Detached Home: 9
- Townhouse: 4
- Condominium: 8
1- Year Trends
Examined both Monthly & Quarterly
In Stratford, quarterly data is a much more accurate picture of the true market trends, due to the low number of sales in some months.
Average Sale Prices
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Fourth Quarter (October-December) year-over-year change from 2023 to 2024:
Detached Home: -3.5%
Semi-Detached Home: +6.7%
Townhouse: +8.1%
Condominium: -11.0%
Number of Sales
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Fourth Quarter (October-December) year-over-year change from 2023 to 2024:
Detached Home: +26.2%
Semi-Detached Home: +12.5%
Townhouse: +300.0%
Condominium: +0.0%
Price Per Square Foot ($/SQFT)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Fourth Quarter (October-December) year-over-year change from 2023 to 2024:
Detached Home: +0.4%
Semi-Detached Home: +8.1%
Townhouse: -3.0%
Condominium: -2.8%
Percentage Sold Above Asking Price
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
Fourth Quarter (October-December) year-over-year change from 2023 to 2024:
Detached Home: +50.0%
Semi-Detached Home: -123.4%
Townhouse: -58.2%
Condominium: -1157.1%
Days to Sell (Median)
Monthly
Missing inputs due to lack of sales or single outlier skewing the data.
Quarterly
- Detached homes have seen a slight increase in the average days on the market, rising from 33 days in Q4 2023 to 38 days in Q4 2024.
- Semi-detached homes have remained relatively consistent, with an average of 28 days in Q4 2024, compared to 29 days in Q4 2023.
- Townhouses are taking longer to sell, with the average time on the market rising to 45 days in Q4 2024, up from just 22 days in Q4 2023.
- Condominiums have experienced the largest decrease in selling time, with the average time on the market dropping significantly from 126 days in Q4 2023 to 47 days in Q4 2024.
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.
