Vaughan condo sales are up...Way up!!!

The Toronto Real Estate's  Report just released today, shows that there were 162 condo sales in Vaughan for the 3rd Quarter of 2011.  The average price for a Vaughan condo came in at $338,147 with an average of 35 days on the market. There were 307 new listings, with an 98% list to sell price.

For York Region as a whole, 3rd Quarter results show 539 condo sales in total with an average price of $319,399.  When you compare this to Q3 in 2010 it's shocking: 445 condo sales with an average price of $287,337. 

These numbers are consistent with overall Toronto Real Estate Board results: with 5,770
condo apartment transactions through the Toronto MLS® system in the
third quarter of 2011, this number represents a 24 per cent increase over the same
period in 2010. The average selling price increased by almost nine per cent to
$333,352.

A word of caution to speculators however: with the increasing trend of new condo completions, and an overall increase in active listings, prices may soften in the near future.  Sales currently remain brisk, but supply continues to grow, and may impact overall prices.  

For a complete TREB Condo Sales Report, drop me a line. I'd be happy to provide it to you!