Vaughan Real Estate - Vaughan Homes For Sale - Market Update - June 2011
As I write this market update a week or so after I normally write it, I can honestly say that June was a very active month across the entire GTA. I've been extremely busy with my listings and even busier with my buyers trying to get them the properties they want. Quite a few of the transactions that I was involved with in June went into multple offers, winning quite a few and losing a few as well. We, as realtors, have been getting alot of at bats to use a baseball analogy and if you are getting enough at bats, you are bound to get your hits and home runs. As I will share with you shortly, we are definitely in a seller's market.
The Toronto Real Estate Board published June market statistics by district last week and I have reviewed the key indicators and will interpret the June numbers for the Vaughan Real Estate Market. I will also compare the first half of 2011 versus 2010. As mentioned already, the market is definitely favouring the seller's these days. Inventory is tight and there are quite a few buyers aggressively looking.
Last June 2010 wasn't a relatively strong month for sales in Vaughan and the numbers for this June are, not surprisingly, up substantially versus last year.
Market conditions were tighter in June compared to last year. The tight market resulted in strong price growth for the month of June as well. 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 June 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 June 2011.
The Vaughan Real Estate market showed that inventory was down substantially for June versus the prior year for the same month. We had 466 active listings this past June versus 697 last June. That represents 33% fewer lisitngs. In a nutshell, Vaughan is experiencing a lack of listings right now. This obviously 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 June 2011 had 254 sales versus 202 transactions last June. 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 June 2011, it was at $576,829 which is up 5.15% versus last June's number of $548,589. 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 June, which is down versus last June's number of 23 days. 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.
On a year to date basis versus last year, some might find the numbers below surprising given all the doom and gloom that was being reported earlier this year. Unit sales for this year until the end of June were 1,422 which is down marginally versus 1,434 units last year. The big change was in number of active listings where we had 2,241 units this year versus 2,794 listings last year. A difference of 553 listings or down almost 25%. With this number of fewer listings, average price year to date went from $514,824 last year to $557,214 this year. Up 8.18%
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for June. Watch for my July 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.