Vaughan Housing Market Report February 2021

Three months housing market charts for detached, Semi-detached, Freehold Townhouses and Condo in Vaughan

February 2021

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

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 based on sold prices published by Toronto Regional Realestate Board MLS for the last 3 months of 2021.

The month of February continued to set new price records in all low-rise segments of the Real Estate market in the city of Vaughan. However, with more properties listed in February, the price growth slowed down compared to January 2021. In the month of February, there were 388 new listings of detached houses compared to 214 new listings in January + 44% increase. Quite a similar picture in all low-rise and high-rise segments. If this trend remains through the Spring, when usually more Sellers enter the market, we might see further slow down in price increase.

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

Year over Year numbers are 16-18% up compared to February 2020 in most of the low-rise types of homes.

Please see the details below.

Detached houses: 388 New listings (241 New listing in January) +44% up to January 2021

In the month of February average sold prices of 4 bedrooms detached homes went up by +1.71% compared to January 2021 and over 50% more units sold.

Year over Year Price Increase is +16%.

The average sold price of 3 bedrooms detached houses was up by +2.2% compared to January.

The number of sold units is slightly down compared to November 2020.

Year over Year Price Increase +17.3%.

Semi-detached houses: 53 New listings (41 in January) 22.6% increase to January.

Prices of 4-bedroom semi-detached houses rolled back after record-setting prices in January. Prices went down by -15%, however 7% up compared to December 2020.

The Number of sales doubled compared to January.

Year over Year Price Increase +10%

3-bedroom semi-detached homes prices continued strong growth. +5.14% up and reached the same average price as 4-bedroom semi-detached houses.

The number of units sold +20% more compared to January 2021.

Year over Year Price Increase +16.3%

Townhouses: 119 new listings (75 in January) 40% increase to January

4-bedroom townhouses average price dropped to almost December 2020 level.

The number of sales almost the same as in January 2021.

Year over Year Price DECREASE -4.3%

The average price of 3-bedroom townhouses was up by +4.77% in February, and +7.3% in January! The average price of 3-bedroom townhouses almost the same as 4-bedroom townhouses.

The number of units sold in February 35% up compared to January.

Year over Year Price Increase +17%

Condo Apartments: 136 new listings in February, the same in January