The pulse of the Vaughan real estate market

Aug03

August 2017 Vaughan Real Estate Market Update

August 2017 Vaughan Real Estate Market Update

As of August 2017, the Vaughan real estate market is currently favouring: Buyers & Sellers

As of August 2017, the Vaughan real estate market continues to be in a balanced state.

As we know the market has been changing, going from a strong seller's market in the beginning of the year to a balanced state. It's always interesting to see this state of change. We can now see that new listings in Vaughan have tapered off from their peak in the month of May - there were 581 New Listings in Vaughan for the month of July. This represents a minimal increase from last year. More importantly, the average price of a home in Vaughan declined by a mere 0.89% from the previous month. To put things into perspective, prices had decreased by 10.6% and 11.04% in the months of May and June respectively. This could be the start of home prices levelling off in Vaughan in this new market. The average price of a home in Vaughan is now $988,551. However, the number of sales still continues to be low (209 sales in the month of July - a 47.88% decrease from last year) as buyers sit on the sidelines until the dust settles. The average days it takes to sell a home in Vaughan has increased to 21 days - a sign that well priced homes are still moving quickly

Buyers should take notice. There's an opportunity here for buyers to capitalize on this market. Don't expect a crash, don't keep on holding off thinking that prices will come down substantially. Get into the market. Here's an explanation on how long this balanced market will last that you should read. You'll most likely be able to buy a home with conditions on your offers (home inspection & mortgage approval) at a fair price and it won't be bidding war after bidding war. And most importantly, the price (and equity) in your home will continue to rise as the GTA continues to catch up to other world-class cities. As you can see from the graph below, balanced markets in Vaughan tend to only last a short time, so there is urgency if you want to take advantage of these more favourable market conditions

Vaughan Real Estate Market Status As of August 3, 2017

Vaughan real estate market update

Number of New Listings in Vaughan As of August 3, 2017

Number of New Listings in Vaughan

Average Price of a Home in Vaughan (all types) As of August 3, 2017

Average Home Price in Vaughan

Average Days on Market in Vaughan (all types) As of August 3, 2017

Average Days on Market in Vaughan

Monthly Number of Sales in Vaughan (all types) As of August 3, 2017

Monthly Home Sales in Vaughan

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