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 August 2023. The sales and Vaughan for August were down, just over 12% over last year. We had 228 sales compared to 260 sales last year. Last month, we had 786 active listings and that's down about 20% from August of last year where we had 657 active listings. The average selling price in Vaughan for all home types in August was $1.327,000 down about 4% from $1.274,000 in August 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 3.4 months of inventory.

Let's have a look at our DOM (days on market). Our average days on market in August were 20 days on market. That's up from 18 days from July 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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