In my last update, I spoke about a balanced market when it comes to Vaughan Real Estate and that is exactly what we are experiencing when it comes to Homes For Sale in Vaughan. For those that know me, I am all about facts. After all, you can't manage what you can't measure. Forget about all the doom and gloom that is being reported by the media. The market will not be crashing and prices will NOT be dropping by 25%. The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the 3% to 5% range will be sustainable from an affordability perspective. The numbers I will be quoting for January 2011 are from The Toronto Board that governs our business and I will be talking specifically about Vaughan Real Estate and Homes For Sale in Vaughan.
The Vaughan Real Estate market showed that inventory was down substantially for January versus the prior month. That is pretty typical as most homes that don't sell tend to expire at the end of the year. Inventory compared to last January was pretty much equal when it comes to homes for sale in Vaughan. The Vaughan Real Estate Market for January had 135 sales versus 112 in the month of December and compared to 140 transactions last January. These numbers indicate that the market has stabilized and remains quite healthy and vibrant.
When we look at the average selling price in the Vaughan Real Estate Market for January 2011, it was at $553,845 which is down 1.35% versus the prior month, however, it was up a whopping 14.2% versus last January's number of $484,680. Again, the Vaughan Market remains positive relative to average selling price versus the prior year.
Homes for Sale in Vaughan were on the market for an average of 34 days in January, which is up 2 days versus the prior month and up by 8 days versus last January. These numbers indicate that the Vaughan Real Estate Market remains healthy and seems to be stabilizing.
That's pretty much it for Vaughan Real Estate and Vaughan Homes For Sale for January. Watch for my February Market Update in a few weeks. If you want to see these market update numbers for any month, please visit my website and look at the left menu for the month you are looking for. You can check any district in the Greater Toronto Area. By the way, when you are dealing with any Realtor, make sure they know the facts as well. If not, find one that does. Have a great day.