Summer 2021 Housing Market Charts for Detached, Semi-Detached and Condo In Vaughan

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

Summer 2021

 

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

The fact that amount of new listings in the month of August is 4 times lower compared to the March 2021 and the lowest for the past decade for all freehold segments of the market is very alarming. With anticipated population growth in GTA to the pre-COVID levels, market conditions will become even tighter pushing the prices higher up. Early Fall market rush with very limited housing supply available demonstrated an almost 10% price increase for most of the low-rise segments of the market in the month of August 2021. Year over Year price growth numbers around 20% and up leading by 4 bedrooms detached houses with 28% year over the Year price increase. The average price of more affordable condo apartments continued steady growth in the single digits.

 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 still strong market!

Please see the details below.

Detached houses

In the month of August average sold prices of 4 bedrooms detached homes jumped up by 10.6% compared to July 2021 reached an all-time high of $1700000 average price. The number of new listings entering the market continued to decline to record low numbers. Only 151 new listings were registered in August compared to 410 new listings in the most active month of March 2021.  

August Year over Year Price Increase is +28%.

The average sold price of 3 bedrooms detached houses went up by +6% compared to July 2021. The number of sales continues to decrease along with lesser New listings. In July the number of New listings entered the marked equaled Sold numbers.

August Year over Year Price Increase +22%.

 

Semi-detached houses

Prices of 4-bedroom semi-detached houses are +5.8% up in August compared to July 2021.

Year over Year Price Increase +17.1%.

 

3-bedroom semi-detached homes prices lost  -5.2% compared to June 2021and gained +2% back in August. The number of new listings has continued to decline for the 5th month in a row. If in March we had 79 new listings (40 units sold), in July we had only 15 new listings (21 was sold) and on August 17 new listings (11 was sold).

Year over Year Price Increase +16.8%.

 

Townhouses 

 4-bedroom townhouse's average price keeps going up over summer 2021. The number of the new listings in July was -50% down compared to June 2021 and remained on this level in August. The number of sold properties in August exceeded the new listings– 7new listings and 8 listings sold.

August Year over Year Price Increase +19.3%.

 

The average price of 3-bedroom townhouses was slightly up and down through summer 2021.  -48% less of new listings in July and August compared to June. Only 57 new listings were registered in August and 51 listings was sold.

 

Year over Year Price Increase +15.0%.  

 

Condo Apartments

1-bedroom condo apartments price remains quite unchanged over the summer.  New listings remaining on the Spring level ( 92 New listings in April) with a slight decline in May (83 New Listings in May)and continued around this number through Summer 2021.

Year over Year Price Increase +10.5%.

 

 

The average price of 2-bedroom apartments lost -4.7% in July compared to June 2021. As the number of new listings continues to decline and the number of Sales goes up, we might see some price growth in the Fall market.

Year over Year Price Increase +5.8%.

 

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