Vaughan Real Estate Video Blog #101

Vaughan Market Update April 2011 | Vaughan Real Estate | Vaughan Homes For Sale

Vaughan Real Estate agent David Ursino interprets the April 2011 monthly stats from TREB in plain english. Stats released May 5, 2011. If you want to voice your opinion or if you don't care for David's comments please email your feedback to This e-mail address is being protected from spambots. You need JavaScript enabled to view it  and visit http://www.davidursino.com/for all the David Ursino Real Estate Video Blogs.

 Hey everybody, David Ursino talking to you about Vaughan real estate as always.  Just recently the Toronto Real Estate Board put out their Market Watch report that talks about the health of the real estate market in the GTA.  I’m going to review the month of April for Vaughan real estate specifically.  So what’s been happening?  Well we’ve really been in a strong seller’s market over the past few months and that’s really been driving the way that homes have been selling.  Homes have been selling very quickly and they’ve been selling for top dollar, that’s what a seller’s market is.  However there are a couple of things that have changed recently.  When we look at the basic indicators of the real estate market, one of the things that we look at is the amount of inventory that is available.  Typically the way that I measure it is how many months worth of inventory there is.  That number has been steadily declining since December 2010 down to 1.6 months back in March 2011.  This is the first month that it’s gone up to 1.7.  So not a huge increase in terms of inventory, however that’s the first time we’ve had an uptick in that graph showing that the inventory is starting to increase.  That combined with the average price of a home in Vaughan, so the average price of a home in Vaughan is sitting at $548k, compared to last year that’s a 9% increase.  However, it dropped from $550k in the month of March.  So if I combine the slight drop in price and the slight increase in inventory, it’s too soon to call it, but it might be the start of a changing market.  Perhaps we’re going into a balanced market.  If that happens, it’s going to take more than a month or two to happen, but that might be something worth keeping our eyes on.  I’m not calling it yet, this may just be an anomaly but we’ll see how it plays out.  The average number of days on market, that’s how long it takes to sell a home on average, is the lowest it’s ever been, it’s sitting at 19 days.  That’s been dropping since January of 2011, that number has been dropping and dropping and dropping and now it’s at its lowest at 19 days.  So that’s it for this Vaughan real estate market update.  If you want to see this in graph format go to my website DavidUrsino.com go to the market stat section and you’ll see some graphs showing what I just talked about.  That’s it for me, if you have any questions regarding this or anything else related to Vaughan real estate by all means, shoot me an email…I’m at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .  Thanks very much and have yourself a great day.