June 2023 Market Update

Hey everyone, Vinay Lakhani here with RE/MAX Realtron. Welcome to another edition of my market report where we're going to be summarizing the sales figures for Vaughan for the month of May 2023. The sales and Vaughan for May were up, just over 41% over last year. We had 446 sales compared to 263 sales last year. Last month, we had 586 active listings and that's down about 26% from May of last year where we had 799 active listings. The average selling price in Vaughan for all home types in May was $1.362,000 down about 1% from $1.376,000 in May 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. So our months of inventory was one 0.76 months and that's down from 1.5 months in April of 2023.

Let's have a look at our DOM (days on market). Our average days on market in May were 14 days on market that's down from 18 days from April 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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