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Stratford Real Estate: Year-End Review 2023

 

The 2023 Year-End Review of our Stratford Real Estate Market Report will examine:

  • Number of Sales for Detached, Semi-Detached, Attached, and Condominiums from 2019-2023
  • Average Sale Price for Detached, Semi-Detached, Attached, and Condominiums from 2019-2023
  • Year-Over-Year Changes to Detached, Semi-Detached, Attached, and Condominium Average Sales From 2019-2023
  • Year-Over-Year Changes to Detached, Semi-Detached, Attached, and Condominium Average Sale Prices From 2019-2023

Average Sale Prices

Contrary to the apprehension conveyed in various news reports regarding the real estate market’s performance in 2023, Stratford demonstrated resilience. Despite experiencing some price fluctuations, the overall average price in Stratford experienced only a slight decline of -2% compared to 2022.

The average sale price of detached homes decreased by -4.0%, while attached home prices saw a decline of -3.0%. Conversely, condominium prices exhibited growth, increasing by +2.0%.

A deeper analysis of the market over a 24-month period, comparing prices from 2021 to 2023, paints an even more positive picture. During this timeframe, properties in Stratford saw an average price increase of +6%. Specifically, detached home prices rose by +8.0%, semi-detached home prices remained stable, attached home prices increased by +7.0%, and condominium prices reported the highest average price increase of +9.0%.

Average Sale Prices (2023):

  • Detached Home: $708,172
  • Semi-Detached Home: $512,883
  • Townhouse: $533,035
  • Condominium: $524,129

AVERAGE SALE PRICE, DETACHED HOMES STRATFORD 2019-2023

MonthSale Price, Average 2019Sale Price, Average 2020Sale Price, Average 2021Sale Price, Average 2022Sale Price, Average 2023
Jan$345,535.00$417,105.00$531,302.00$790,159.00$609,836.00
Feb$435,598.00$579,948.00$566,192.00$815,063.00$628,312.00
Mar$396,694.00$430,444.00$607,904.00$872,459.00$748,504.00
Apr$417,165.00$423,905.00$642,596.00$858,414.00$701,995.00
May$490,862.00$580,703.00$684,024.00$830,243.00$769,732.00
Jun$458,039.00$494,934.00$640,551.00$707,213.00$801,647.00
Jul$438,079.00$501,854.00$644,799.00$658,235.00$731,596.00
Aug$476,319.00$525,049.00$675,486.00$750,606.00$726,369.00
Sep$451,511.00$560,872.00$646,922.00$651,889.00$844,940.00
Oct$486,737.00$634,181.00$769,945.00$607,698.00$645,115.00
Nov$411,209.00$576,175.00$685,355.00$681,622.00$608,441.00
Dec$511,302.00$542,656.00$768,885.00$665,790.00$681,583.00
Year-Average$443,254.00$522,318.00$655,330.00$740,782.00$708,172.00


AVERAGE SALE PRICE, SEMI-DETACHED HOMES STRATFORD 2019-2023

MonthSale Price, Average 2019Sale Price, Average 2020Sale Price, Average 2021Sale Price, Average 2022Sale Price, Average 2023
JanN/A$347,500.00$454,767.00$595,767.00$512,250.00
Feb$356,833.00$341,259.00$549,333.00$671,200.00$615,500.00
Mar$322,625.00$360,950.00$561,138.00$661,333.00$570,600.00
Apr$367,500.00$320,000.00$524,933.00$674,183.00$566,250.00
May$379,870.00$407,777.00$560,495.00$568,739.00$591,778.00
Jun$392,486.00$409,970.00$534,615.00$533,500.00$576,136.00
Jul$342,125.00$416,480.00$535,559.00$558,591.00$610,500.00
Aug$382,387.00$419,042.00$541,873.00$420,000.00$518,333.00
Sep$371,689.00$425,000.00$532,500.00$513,260.00$547,000.00
Oct$362,743.00$447,025.00$558,650.00$540,750.00$532,500.00
Nov$387,000.00$436,500.00$679,975.00$574,000.00$527,000.00
Dec$445,000.00$460,783.00$599,500.00$405,000.00$499,000.00
Year-Average$342,521.00$370,398.00$514,880.00$510,046.00$512,883.00


AVERAGE SALE PRICE, ATTACHED (TOWNHOMES) STRATFORD 2019-2023

MonthSale Price, Average 2019Sale Price, Average 2020Sale Price, Average 2021Sale Price, Average 2022Sale Price, Average 2023
Jan$403,450.00$539,324.00$297,450.00$498,750.00$546,650.00
Feb$335,760.00$443,518.00$563,900.00$557,875.00$533,333.00
Mar$420,400.00$464,923.00$441,397.00$540,247.00$465,063.00
Apr$425,000.00$328,500.00$467,191.00$556,067.00$484,500.00
May$320,771.00$415,000.00$508,750.00$584,373.00$568,886.00
Jun$403,412.00$386,071.00$541,200.00$545,983.00$558,140.00
Jul$396,900.00$376,175.00$505,778.00$774,575.00$492,910.00
Aug$389,064.00$451,689.00$464,700.00$551,188.00$646,780.00
Sep$449,000.00$388,289.00$476,571.00$514,144.00$485,500.00
Oct$340,450.00$438,642.00$523,129.00$494,750.00$538,771.00
Nov$326,317.00$416,840.00$569,000.00$464,150.00$444,950.00
Dec$367,000.00$441,585.00$607,500.00$510,850.00$630,940.00
Year-Average$381,460.00$424,213.00$497,213.00$549,412.00$533,035.00


AVERAGE SALE PRICE, CONDOMINIUMS STRATFORD 2019-2023

MonthSale Price, Average 2019Sale Price, Average 2020Sale Price, Average 2021Sale Price, Average 2022Sale Price, Average 2023
Jan$403,450.00$539,324.00$297,450.00$498,750.00$501,250.00
Feb$336,567.00$442,438.00$575,000.00$477,167.00$405,000.00
Mar$438,000.00$464,923.00$393,590.00$521,700.00$485,083.00
Apr$437,000.00$247,000.00$458,375.00$512,084.00$484,500.00
May$365,057.00N/A$508,750.00$563,122.00$538,883.00
Jun$399,894.00$305,633.00$519,250.00$441,667.00$564,777.00
Jul$422,680.00$376,175.00$482,571.00$774,575.00$510,850.00
Aug$401,538.00$444,500.00$355,725.00$569,929.00$682,300.00
Sep$557,333.00$368,267.00$452,857.00$440,667.00$471,800.00
Oct$250,000.00$408,922.00$564,900.00$553,500.00$545,233.00
Nov$320,750.00$394,745.00$569,000.00$436,633.00$444,950.00
Dec$367,000.00$405,877.00$607,500.00$387,000.00$654,925.00
Year-Average$391,605.00$366,483.00$482,080.00$514,732.00$524,129.00


AVERAGE SALE PRICE, ALL STRATFORD 2019-2023


Total Sales Volume

Stratford experienced a decline of -11.0% in the total number of sales compared to 2022, with 455 sales recorded in 2023 versus 514 in 2022. The market peaked in 2021 with 580 sales reported, reflecting a decline of -21.6%.

Total Sales (2023):

  • Detached Home: 282
  • Semi-Detached Home: 50
  • Townhouse: 74
  • Condominium: 49

DETACHED HOMES SALES IN STRATFORD, 2019-2023

MonthSales, Number of 2019Sales, Number of 2020Sales, Number of 2021Sales, Number of 2022Sales, Number of 2023
Jan131541515
Feb1824182513
Mar1923483418
Apr3810433828
May2524493034
Jun2835342734
Jul3948342729
Aug3142383224
Sep3325322826
Oct3428312426
Nov2226271817
Dec2014121018
Total Sales320314370308282


SEMIDETACHED HOMES SALES IN STRATFORD, 2019-2023

MonthSales, Number of 2019Sales, Number of 2020Sales, Number of 2021Sales, Number of 2022Sales, Number of 2023
Jan3332
Feb37352
Mar24864
Apr31864
May911889
Jun7413611
Jul4811114
Aug981113
Sep96453
Oct74742
Nov110433
Dec13213
Total Sales5559925950


ATTACHED (TOWNHOMES) SALES IN STRATFORD, 2019-2023

MonthSales, Number of 2019Sales, Number of 2020Sales, Number of 2021Sales, Number of 2022Sales, Number of 2023
Jan42246
Feb57343
Mar5510154
Apr627102
May7141110
Jun673615
Jul64967
Aug129785
Sep391098
Oct212787
Nov615362
Dec36245
Total Sales6579679174


CONDOMINUM SALES IN STRATFORD, 2019-2023

MonthSales, Number of 2019Sales, Number of 2020Sales, Number of 2021Sales, Number of 2022Sales, Number of 2023
Jan42244
Feb36131
Mar458113
Apr51682
May7N/A496
Jun532313
Jul54764
Aug72473
Sep33935
Oct19526
Nov411332
Dec34214
Total Sales4748515649


TOTAL STRATFORD SALES, 2019-2023


2023 Forecast

Looking ahead to 2023, we anticipate a higher volume of sales in the residential market in Stratford and its surrounding areas. There are compelling reasons to support this forecast, notably the Bank of Canada’s decision to maintain its current rate for the past four rate announcements.

Other Factors Include

  • Inflation down to 3.1% and projected to hover around 3.0%
  • We anticipate The Bank of Canada to announce a .25% rate cut expected on the scheduled June 5th interest rate announcement date,
  • The sustained stability in interest rates has bolstered confidence among buyers and sellers, encouraging them to proceed with transactions in the coming months, given the overall favorable economic outlook.

All statistics gathered independently from ITSO (INFORMATION TECHNOLOGY SYSTEMS ONTARIO)®.

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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