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Average home sale price 4.7% lower in 2018

Posted by Adam in Local News, 1/5, 2:00 PM

The data is in and the average home selling price in 2018 in Brandon saw a 4.7% decrease compared to 2017 according to info published this week by Brandon Area Realtors. When the numbers are crunched, the average dollar amount of the 498 residential homes to sell during the year that just ended was $271,621 (excluding condos and mobile homes). That compares to $284,956 in 2017, which was an increase of 3.9% from 2016. 

Condo prices also came in lower, $261,068 in 2018 compared to $270,274 for the 12 months previous. 

Beyond that I’m always hesitant to confidently identify a trend in shorter term stats. A big help at looking a little deeper might be the Economic Development Brandon link below where they’ve published a list of stats for each of the past 17 years. Based on that data home selling prices are 150% higher since 2003 and 37% higher than they were in 2008 before accounting for inflation. Since 2013 however that increase is just 2.2%:
http://economicdevelopmentbrandon.com/historical-housing-prices

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