Vaughan Real Estate - Vaughan Homes For Sale - Market Update - February 2011

Hot off the press. The Toronto Real Estate Board published February market statistics by district yesterday and I have reviewed the key indicators and will interpret the February numbers for the Vaughan Real Estate Market.  The market is definitely hot right now and the spring market has begun early. The bulk of what we are experiencing is a function of buyers trying to buy before interest rates go up and they will and buyers trying to beat the March 18th deadline with respect to the mortgage rule changes that will see 35 year amortization periods disappear and have buyers put down more money as a downpayment. If you need more info on the changes, call me directly or call one of my mortgage specialists and they will be glad to answer all your questions. Right now, I will provide my observations for those that are interested on the Vaughan Real Estate Market. Here are some quick facts and a brief market update on Vaughan Real Estate and Vaughan Homes For Sale for February 2011.

In my last update, I spoke about a healthy market when it comes to Vaughan Real Estate and that is exactly what we are expereincing when it comes to Homes For Sale in Vaughan. As you may know by now, I am all about facts and here are the facts for Homes for Sale in Vaughan for February 2011. 

The Vaughan Real Estate market showed that inventory was down substantially for February versus the prior year for the same month. We had 379 active listings this past February versus 421 last February. That represents almost 10% fewer lisitngs. Listings versus the prior month was up from 323 active listings in January. That is pretty typical as January tends to be a soft month relative to active listings. In a nutshell, Vaughan is experiencing a lack of listings right now. That bodes well for sellers so if you are thinking about selling, now might be a good time to put your Vaughan home up for sale. 

The Vaughan Real Estate Market for February had 194 sales versus 135 in the month of January and compared to a whopping 243 transactions last January. These numbers indicate that the Vaughan Real Estate Market remains strong, is quite stable but we are lacking some quality listings right now.

When we look at the average selling price in the Vaughan Real Estate Market for February 2011, it was at $550,000 which is down 4.33% versus the prior month, however, it was up 6.21% versus last February's number of $499,000. Again, the Vaughan Real Estate Market remains positive relative to average selling price versus the prior year and with more buyers looking at fewer available units, the numbers make sense. The old supply and demand theories at work again.

Homes for Sale in Vaughan were on the market for an average of only 21 days in February, which is the same as last February, however, it is down considerably versus January's days on market number of 34. Again more buyers looking at fewer available units and these buyers are buying quickly. These numbers indicate that the Vaughan Real Estate Market remains healthy and that it is a sellers market right now. 

That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for February. Watch for my March Market Update in a few weeks.

If you want to see these market update numbers for any month, please visit my website at www.AtYourServiceAlways.com and look at the left menu for the month you are looking for. You can check any district in the GTA.

By the way, when you are dealing with any Realtor, make sure they know these facts as well. If not, find one that does. Have a great day.