September 2021 Vaughan housing market overview for detached, Semi-detached, Freehold Townhouses and Condo

Dear Vaughan citizens and everybody who is thinking to move to this great city above Toronto!

September demonstrated a swift transition from a relatively slower summer market to a hot fall market in Vaughan and all over the GTA. While the number of sales for Vaughan remained quite the same as in August 2021, month-to-month prices went up by 2.7% to 13.5% in all real estate segments induced by a large number of buyers, very tight inventory, and fierce bidding wars over each property. The number of new listings slightly increased in September compared to August but about twice less than in September 2020.

“Price growth in September continued to be driven by the low-rise market segments, including detached and semi-detached houses and townhouses. However, competition between buyers for condo apartments has picked up markedly over the past year, which has led to an acceleration in price growth over the past few months as first-time buyers re-entered the ownership market. Look for this trend to continue,” said Jason Mercer, TRREB Chief Market Analyst.

Year over Year price growth numbers around 25% and up leading by 4-bedroom freehold townhouses with 26.7% Year over Year price increase.

 I prepared this report for you to have an idea about housing market trends and help you to make an informed decision about whether it is the right time to buy or sell your home. All numbers are based on sold prices published by Toronto Regional Realestate Board MLS for the last 3 months of 2021.

If you are thinking of selling your home, do not wait. Take advantage of this super-strong market!

Please see the details below.

Detached houses

In the month of September average sold prices of 4 bedrooms detached homes continued steady growth and added +3.18% to the August 2021 numbers and reached an all-time high of $1,755,888 average price. The number of sales remained on August level but -22% less than in September 2020 when 157 units were sold. The number of New listings entering the market slightly increased from 151 in August to 189 in September which is almost twice less comparing to 300 new listings in September 2020.  

Year over Year Price Increase is +23%.

The average sold price of 3 bedrooms detached houses went up by +2.7% compared to August 2021. A number of sales remained close to August 2021 results but -30% less than in September 2020 when 66 units were sold.  The number of New listings entering the market slightly increased from 61 in August to 62 in September 2021 which is -49% less compared to 121 new listings in September 2020.

Year over Year Price Increase +24.8%.

 

Semi-detached houses

The average sold price of 4-bedroom semi-detached houses went up by +5.5% compared to August 2021. 7 units were sold in September 2021 – almost the same as 8 units were sold in September 2020. Only 3 New Listings entered the market in September 2021 compared to 8 new listings in September 2020.

Year over Year Price Increase +24.8%.

 

The average sold price of 3-bedroom semi-detached houses went up by +9% compared to August 2021. The number of sales doubled compared to August 2021 results but -30% less than in September 2020 when 27 units were sold.  The number of New listings entering the market slightly increased from 17 in August to 27 in September 2021 which is -53% less compared to 57 new listings in September 2020. 

Year over Year Price Increase +19.1%

Freehold Townhouses

The average sold price of 4-bedroom freehold townhouses went up by +13.5% compared to August 2021 and came back to July results. A number of sales slightly lower compared to August 2021 results but -44.4% less than in September 2020 when 9 units were sold.  13 New Listings entered the market in September 2021 which is -46% less compared to 24 new listings in September 2020.

Year over Year Price Increase +26.7%.

 

The average sold price of 3-bedroom freehold townhouses went up by +7.5% compared to August 2021. A number of sales slightly above August 2021 results but -26% less than in September 2020 when 72 units were sold.  The number of New listings entering the market slightly increased from 57 in August to 72 in September 2021 which is -45% less compared to 130 new listings in September 2020. 

Year over Year Price Increase +21.8%.  

 

Condo Apartments

The average sold price of 1-bedroom condo apartments went up by +2.7% compared to August 2021. The number of sales remained the same for the last 3 months and compared to September 2020 when 41 units were sold.  75 New Listings entered the market in September 2021 which is -21% less compared to 95 new listings in September 2020.

Year over Year Price Increase +14.4%.

 

The average sold price of 2-bedroom condo apartments went up by +4.6% compared to August 2021 and came back to April results. A number of sales keep going up compared to August 2021 results and even September 2020 when 58 units were sold. The number of new listings entering the market slightly increased from 79 in August to 112 in September 2021 which is -26% less compared to 151 new listings in September 2020. 

Year over Year Price Increase +12.2%.

 

Thank you for reading this report. I will be happy to provide you with a detailed report for your community and property type.

Please do not hesitate to reach me over my phone, text, or email.

Olga Timofeeva: Sales Representative

Buying and Selling Specialist

International Realty Firm, Inc.

c: 647.393.9000

o: 647.313.3400

olgarealestate.ca@gmail.com