VaughanReal Estate - Vaughan Homes For Sale - Market Update – February 2012 YTD
As I sit in my office drinking my coffee, I can't stop thinking about this fantastic weather we have been having and how this weather has helped my business. The long range forecast for March Break is sunny and 15 degrees. Not bad for Toronto weather. I’d also like to mention that the year is already going way too fast for me. I think this amazing weather has quite a bit to do with that. I guess it's not good if you are a skier, but you won't find me complaining about the winter so far this year.
During my last update, I was chatting about the lack of snow and the same holds true for the fabulous start we have had for the month of March. I sound like a broken record as that is exactly what I mentioned last month. With this lack of snow and with spring around the corner, one could almost argue that we are in a spring market already. The market is hot and sellers are starting to capitalize on this fact. A good agent will have recognized this by now and would have acted accordingly with regards to their sellers and buyers.
Feburaury 2012 was another solid month from a real estate perspective. GTA sales in February were 7,032 units. That's a 16% increase versus last year for you math junkies. There's lots of active buyers out there. The majority are trying to capitalize on the low mortgage rates. Again, the old supply and demand theories are in play here. The low inventory levels have kept competition between buyers strong, resulting in robust rates of price growth. Common sense really. Now would be a fantastic time to sell if you were thinking of it.
The Toronto Real Estate Board published February market statistics by area last week and I have reviewed the key indicators and will interpret the February numbers for the Vaughan Real Estate Market. In a nutshell, the market is definitely favouring the sellers these days. Inventory remains tight and there are still quite a few buyers aggressively looking.
Here are my observations for those that are interested, on the Vaughan Real Estate Market. These quick facts and figures on Vaughan Real Estate and Vaughan Homes For Sale for February 2012 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.
The Vaughan Real Estate market for February had 351 transactions in the month which was actually up from the 204 transactions reported for January. The average price of these transactions was $609,901 versus $616,647 for January. The average days on market was 19 days which is well below the number 0f 30 days for January. Again, these are all healthy numbers.
If you break down the stats by house type, you will see that all segments remain strong. Detached sales accounted for 197 transactions for the month of February with the average selling price of these homes at $742,765 with the homes on the market for an average of 18 days.
Semi-detached homes represented only 29 transactions with an average selling price of $492,703. These homes were on the market for an average of 15 days before selling. The number is quite low which tells me that their were lots of buyers looking at purchasing with low inventory relative to the market.
Condominiums accounted for 56 transactions and the average days on the market at 32 days which is high relative to the other segments.
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for February. Watch for my March Market Update in the first week of April.
If you want to see these market update numbers for any month and for any area or region, please visit my website at www.AtYourServiceAlways.com
and look at the left menu for the month you are looking for.
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.
JOE ANDREOLI TEAM