Hey everyone, Vinay Lakhani here with RE/MAX Realtron. Hope everyone is enjoying their summer so far! Welcome to another edition of my market report where we're going to be summarizing the sales figures for Vaughan for the month of July 2023. The sales and Vaughan for July were up, just over 18% over last year. We had 240 sales compared to 197 sales last year. Last month, we had 740 active listings and that's down about 9% from July of last year where we had 812 active listings. The average selling price in Vaughan for all home types in July was $1.365,000, up about 5.8% from $1.285,000 in July of 2022.

Let's have a look at our months of inventory, see how we're doing. We get our months of inventory by dividing the sales into the active listings. And remember that below 4 months, seller's market, above 6 months buyers market. Anywhere between a balanced market. We are sitting just shy of 3 months on inventory in Vaughan right now. Which means we are at the cusp of a sellers market and a balanced market.

Let's have a look at our DOM (days on market). Our average days on market in July were 18 days on market. That's up from 15 days from June 2023.

Whether 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. 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.

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