While prices appear to be levelling off somewhat, Brampton’s real estate market continues to struggle with significantly lower sales volumes compared to previous years.

The most recent statistics from the Toronto Real Estate Board (TREB) showed a steep decline in home sales of all types in Brampton through the first five months of 2018.

The market saw just 3,108 total sales between January and May, marking the lowest total in more than five years through those months.

Sales in the first five months of 2017 clocked in at 4,465, marking a 30.4 per cent drop in Brampton sales compared to this point in 2018.

The lowest sales total registered in the Brampton Guardian’s TREB-supplied market tracking data, which dates back to 2012, was in 2013, when Brampton’s market yielded 3,434 total sales between January and May.

Year-over-year for the month of May alone, Brampton’s market is down 25.5 per cent with just 684 sales, compared to 918 in May 2017.

“The fact that new listings were down by more than sales in comparison to last year means that competition increased between buyers. Recent polling conducted by Ipsos for TREB suggests that listing intentions are down markedly since the fall,” wrote TREB president Tim Syrianos in the organization's monthly report.

While total sales remain sluggish across the Greater Toronto Area so far in 2018, average prices in Brampton for all types of homes have recovered somewhat since falling to a low of $640,946 in July 2018.

The average sale price for all types of dwellings in Brampton for May 2018 was $708,944, up 10.6 per cent compared to that July low-water mark. However, that number is still down 7.3 per cent compared to the market peak in Brampton, which came in March 2017 at an average of $765,156.