April 2023 Market Update

Hey everyone, Vinay Lakhani here with RE/MAX Realtron and welcome to another edition of my market part where I'm going to be summarizing the sales figures for Vaughan for the month of March 2023. Sales in Vaughan for March, we're down just over 35% over last year, we had 327 sales compared to last year's 505 sales. Last month, we had 528 new listings. That's down about 48% from March of 2022, where we had 1032 new listings.The average selling price in Vaughan for March for all home types 1,340,000 and that's down about 13% from 1,548,000

in March of 2022.

Our months of inventory is at 1.5 months of inventory. Remember that below 4 months is a seller's market and above 6 months is a buyers market. Anywhere in between is balance. We're at 1.5 months, which is a very, very strong seller's market. Takes it back to almost 2021 when there was these kind of numbers.

Finally, we want to look at our days on market. Our average days on market was 21 days in Vaughan. Now, whether you're thinking of moving in the near future or not, give me a call and let's chat about what these numbers mean for you and the value of your home. A lot of changes are happening very quickly and it's important to get your updates from a trusted source and not the CP24 Source.

Thank you guys for tuning in to this month's Vaughan market report. Remember that now more so than ever who you work with, makes all the difference.