Vaughan Real Estate - Vaughan Homes For Sale - Market Update - March 2011
Hot off the press. The Toronto Real Estate Board published March market statistics by district yesterday and I have reviewed the key indicators and will interpret the March 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 experienced in March was a function of two key factors. One was a factor 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 saw 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. The other key factor was that market conditions were tighter in March compared to last year. With competition between buyers, we have seen a very strong but sustainable rate of price growth. 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 March 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 March 2011.
The Vaughan Real Estate market showed that inventory was down substantially for March versus the prior year for the same month. We had 434 active listings this past March versus 567 last March. That represents 23% fewer lisitngs. 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 March had 271 sales versus 300 transactions last March. 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 March 2011, it was at $550,252 which is up 6.40% versus lastMarch's number of $517,153. 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 20 days in February, which is actually higher than last March's number of 17. 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 March. Watch for my April 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.