The Sales in Vaughan for October 2022 were down just over 58% over last year. We had 187 sales compared to last year’s 452 sales.

Last Month we had 451 New listing listings which is down about 5.64% from October of 2021 where we had 478 new listings.

The average selling price In Vaughan for October for all home types was $1,251,465 Down about 7% From $1,361,443 in October of 2021

Let’s have a look at our months of Inventory and see how we are doing. We get months of inventory by dividing the sales in to the active listings. It is important to remember that below 4 months is a seller’s market and above 6 months is a Buyers’ market and anywhere in between is a balanced market. Month of inventory in October was 3.4 Months. With means if no other homes came on the market in 3.4 months in Vaughan there would be no homes for sale

Finally, we want to look at our Days on Market. Our average days on market in October was 32 days, Down from from 36 days in September of 2022.

Home sales continued to adjust to higher interest rates in October. New listings are down year-over-year and month-over-month. The persistent lack of inventory helps explain why the downward trend in home prices experienced in the spring has flattened over the past three months.

New listings were down year over year more so for mid and high-density home types, which helps to explain why prices have held up better in these categories compared to detached houses. With new listings at or near historic lows, If Demand increased from current levels this would result in a noticeable tightening in the resale housing market. Obviously, there is still a lot of short-term economic uncertainty In the near future, however, We feel the demand for housing will rebound sooner rather than later as the Bank of Canada’s suggests that they are reaching the end of their tightening cycle.

Whether you are thinking of moving in the near future or not give me a call and let’s chat about what these numbers mean for the value of your home.

Thank you 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.

Don’t forget to follow me on Instagram and on Facebook. If you found this information useful please subscribe to my channel and share this video with your family and friends.

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Hey guys Vinay Lakhani here with RE/MAX Realtron. Welcome to another edition of my Market Report where we will be summarizing the sales figures for Vaughan for the month of  September 2022. The sales in Vaughan for September 2022 were down just over 47% over last year. We had 224 sales compared to last year’s 426 sales. 


Last month we had 609 new listings which is up about 14% from September of 2021 where we had 526 new listings.  


The average selling price in Vaughan for September for all home types was $1,231,728, down about 7% from $1,328,271 in September of 2021.


Let’s have a look at our months of inventory and see how we are doing. We get months of inventory by dividing the sales into the active listings. It is important to remember that below 4 months is a seller’s market and above 6 months is a buyers’ market and anywhere in between is a balanced market. Month of inventory in September was 2.9 months. Which means if no other homes came on the market in 2.9 months in Vaughan there would be no homes for sale


Finally, we want to look at our days on the market. Our average days on market in September was 36 days, down from 37 days in August of 2022.


These numbers show we are definitely seeing a shift in the market. Homes are taking longer to sell and  prices have adjusted to align with the higher borrowing costs.  I believe this small dip in housing demand is occurring as buyers and sellers alike are taking a step back to see the effects that the increasing borrowing costs have on the market.  We all agree that this temporary dip is not going to mask the critical shortage of homes available for sale in the GTA. 


With the municipal elections underway, candidates running must ensure home buyers and renters have adequate housing options in the years to come. Municipal council decisions have a direct impact on housing affordability and housing development. There are already a slew of developers who are cancelling or delaying their new housing project as they can not cope with the increased fees from municipalities and all time high material costs.


TRREB CEO John DiMichele. Said “Elected councils must also reconsider existing policies that preclude homeowners from listing their homes for sale, including significant added upfront costs like the land transfer tax. Potential new policies like mandatory home energy audits could also create unnecessary interference and delays in the home selling process and dissuade some homeowners from listing their homes for sale.

October generally represents the peak of the fall market, so it will be important to see where price trends head over the next month,


Whether you are thinking of moving in the near future or not, give me a call and let’s chat about what these numbers mean for the value of your home


Thank you 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.

Don’t forget to follow me on Instagram and on Facebook. If you found this information useful please subscribe to my channel and share this video with your family and friends.


Until Next time, Ciao for now!




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Despite the psychological impact of higher borrowing costs and the whispered fear of the “R” word, real estate continued to be a desired commodity with 6,474 homes sold throughout the GTA. While this number was down from last year’s record-breaking stats, it shows the strength of the market and the desire for real estate. With the YTD average price ($1,257,257) being up 15% from December, real estate continues to be a great investment and to be in great demand.

While sales are taking place in all areas and in all price ranges, what has (changed which impacts the average price) is the mix of homes. The average home sale price is based on the homes sold that month. If two houses sold in May at $1 million each then the average price would be $1 million for a home sale in May. If 2 houses sold in June, one for $1 million and one for $500,000, the average price would be $750,000. Due to higher boring rates, more condominiums and townhouses have sold thus lowering the average purchase price.

Here are the statistics that I believe are important. There were 6,474 homes sold last month. That means many people are not afraid to buy. There are only 16,095 homes available for sale, so the listing inventory is approximately 2.5 houses for every buyer, which means we’re in a seller’s market. Last month, throughout the GTA homes sold between 97% and 104% meaning that if you were priced right, within 5% of market value, your home sold in 20 days!

Taking advantage of the current market:

Take advantage of the “fear” created by the media. Remember, it’s just the reporters’ personal fears and opinions that are being expressed, not facts!
Get a mortgage commitment. I can help you lock in a 4-month rate guarantee to protect against rate increases.
Unemployment is low. Immigration continues; It’s a strong economy!
“You have nothing to fear but fear itself” Franklin D Roosevelt
Call me! Full time, committed, knowledgeable and experienced. Let me put the power of the worldwide RE/MAX brand to help you achieve your goals!
Have a great July!

Sincerely your Friends in Real Estate,

Vinay Lakhani & Stephanie Lima

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April 2022
Dear Friend,
As expected, the spring market kicked off with10,955 homes sold, the third-best March and second-best first quarter on record. The average price in March was $1,299,894, bringing the year-to-date average to $1,299,591, up 18.6 % over the 2021 year-end average of $1,095,381.

As I wrote in January, “Don’t panic”! Prices will continue to increase in 2022, (about 10%) but not at the same rate as they did in 2021. There were 20,038 properties listed in March, providing more choices for buyers, a move towards a more balanced market of supply and demand. BUT…. don’t read this as prices coming down. As more homes come up for sale in the next few months, house prices will still continue to increase, as there is more demand than supply.

Due to the government’s commitment of increasing Canada’s population by over 1.2 million new immigrants over the next 3 years, the population of the GTA will continue to experience rapid growth as our economic strength and diversity continues to attract people from around the world. In order for prices to remain reasonable, housing supply has also to increase substantially. The holdup? Government red tape in not permitting developers and builders to bring more houses to market. The process of getting building permits is unnecessarily slow and tedious! While I am optimistic that this process will become more streamlined one day, I’m pessimistic about how long consumers have to suffer due to this bureaucracy. In the meantime, we have a great market! It’s a good opportunity to build an investment portfolio because we know that demand for housing will continue to increase. That means higher rents which will sustain higher costs. If you have children who will be entering university over the next few years, you might consider purchasing a condominium now for them to use later. For some, their home is their best investment, and if that’s the case with you, perhaps now is the time to buy that bigger home that you’ve always wanted. The key to making a wise choice is having a good investment advisor. I have the knowledge, experience and the resources of a great company to help you achieve your goals. Give me a call, let’s discuss the future!

Have a great April!
Your Friend in Real Estate
PS: I’m never too busy for your referrals

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