Vaughan Real Estate Video Blog # 70
Nov 2010 Monthly Stats - Vaughan Real Estate - Vaughan Homes For Sale
Vaughan Real Estate agent David Ursino interprets the November monthly stats from TREB in plain english. Stats released Dec 3, 2010. 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 here. Yesterday was Dec 3rd and the Toronto Real Estate Board put out their Market Watch report that outlines how the market has been doing in the month of November. So this is going to be a market update on the Vaughan real estate market. So we’re not looking at the GTA as a whole, just Vaughan. So what’s been happening? Well year over year we’ve seen a 14% decrease in the amount of sales and we’ve also seen an increase of 4.3% to the average price of a home. So the average price of a home in Vaughan now is $531k as opposed to $509k at the same time period last year. What we’re seeing though is month to month, so the previous month in October the average price of a home was $533k, this month it’s $531k so I think we’re starting to see a stabilization of the prices. Now what I don’t know yet or what we don’t know yet is whether this is the typical seasonal stabilization we see this time of year during the holidays, during the winter or whether this is part of a longer term pattern that we are seeing as the market is balancing out. The forecasters are saying it’s going to be a balanced market for the rest of the year. So we might see some stabilization in prices, perhaps a dip in prices into the new year. We’re just not sure yet until that actually happens. The average days on market is at 32 days. It’s been hovering up and down in that 30-day band over the past 4-5 months. In terms of inventory, there’s 2.4 months worth of inventory. So that continues to state that we’re in a balanced market. The inventory has dropped a little since the previous month however. Again that’s typical of this time of year as we get into December and the winter season. There’s typically less inventory. It’s actually a great time to sell your home if you’re thinking of selling in the winter time because there’s less inventory. So that’s it, that’s it for the market update for Vaughan. If you want to see this in a graph format, go to my website http://DavidUrsino.com and you’ll see there’s a section there for market stats. Keep in mind these are all average numbers. If you’re looking for above average numbers, 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.
