It was an expensive year to venture into the Brampton real estate market, with the annual average sale price for dwellings of all types coming in at $688,876.

According to the latest monthly tracking data from TREB, the overall average sale price for 2016 was $582,721. However, annual averages do not tell the full market story in Brampton in 2017.

The market finished up in prices, but took a big hit in sales.

As was the case across the whole GTA, the Brampton market started out the year like gangbusters, jumping year-over-year from an average price of $519,632 in January 2016 to an average of $670,078 just one year later in January 2017.

That year-over-year bump represented a 29 per cent increase in just 12 months, and things continued at that breakneck speed through the spring months.

Brampton’s market hit its peak in March when the average for all types of dwellings hit an all-time record at $765,165.

That average held firm through April, right up until the Ontario government announced a series of 16 measures in an effort to cool demand in what most analysts considered a dangerously overheated market in Toronto and the GTA.

Between March 2016 and March 2017, Brampton’s housing market clocked a staggering year-over-year increase of 38.9 per cent.

Whether due to government measures, a natural correction in the market, or a combination of both, by May things started moving in the other direction. By July, the Brampton market had fallen back to a low-water mark for 2017 of $640,946, or a 16.2 per cent tumble from its record peak in just four months.

The average price for all dwellings then stagnated from August to December, finishing the year down from where it started in January, but up 5.7 per cent year-over-year on a monthly basis compared to December 2016.