Vaughan Real Estate - Vaughan Homes For Sale - Market Update - October 2011
Now that we are fully into the fall market, I must say that I dreaded the time change. At least it came later than normal this year. To be honest, I really don't understand why we even flip back to standard time. I miss those long summer days already but business continues whether we are on Day-Light Savings Time or not.
October was another busy month from a real estate perspective. My colleague, Richard Silver, President of TREB stated that "Home buyers who found it difficult to make a deal in the spring and summer due to a shortage of listings have benefitted from increased supply in the fall."
The pace of October resale home transactions remained brisk in the GTA and surrounding area. From my perspective, this bodes well for a strong finish to 2011. Certainly the low interest rates are helping drive the market. These low interest rates don't look like they will be rising any time soon and since we are still in a tight market with low inventory, this will continue to bode well for sellers and as I have been stating for months, this is a great time to be putting your home on the market if you have been thinking about it.
The Toronto Real Estate Board published October market statistics by area last week and I have reviewed the key indicators and will interpret the October 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 October 2011 were taken directly from the numbers that the Toronto Real Estate Board publishes each month.
The Vaughan Real Estate market for October had 267 transactions in the month which was actually 2 more home trancactions compared to the prior month of September. The average price of these transactions was $539,301. The average days on market was 23 days which is what it has been hovering at on a year to date basis. Year to date sales have totalled 3,111 transactions with the average selling price at $546,301. 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 135 transactions for the month of October with the average selling price of these homes at $691,978 with the homes on the market for an average of 25 days.
Semi-detached homes represented only 29 transactions with an average selling price of $460,097. These homes were only on the market for an average of 15 days before selling. Super quick which tells me that inventory is very tight with escalating prices. Condominiums accounted for 60 transactions and the average days on the market at 27 days which is high relative to the other segments.
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for October. Watch for my November Market Update in the first week of December.
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.