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 October 2023. The sales and Vaughan for October are up, just by 20% over last year. We had 225 sales compared to 187 sales last year. Last month, we had 961 active listings and that's up about 50% from October of last year where we had 640 active listings. The average selling price in Vaughan for all home types in October was $1.239,367, down by less than 1% from $1.251,465 in October 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 4.2 months of inventory.
Let's have a look at our DOM (days on market). Our average days on market in October were 41 days on market. That's up from 33 days from September 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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