York Region and Durham Region monthly town-specific market statistics
Anyone who's a Real Estate Obsessive, and you know who you are, wants to know how the market statistics have changed from month to month in their town. You want to know how much your asset is growing, how much equity your holdings have, and if your children will ever be able to afford to purchase their own monopoly.
Since 2014 Welsh & Co. has kept score on the number of listings, number of sales, average sale prices, and median sale prices in numerous towns in Durham Region and York Region, specifically:
Ajax, Brock, Clarington, Oshawa, Pickering, Scugog, Uxbridge, Whitby
Aurora, East Gwillimbury, Georgina, King, Markham, Newmarket, Richmond Hill, Vaughan,
Whitchurch-Stouffville
A note of caution. We are talking about very small markets within York and Durham. If for example, six multi-million dollar properties sell in Uxbridge in a given month, the numbers will inaccurately increase the overall averages of lower priced homes.
What is important to watch is the number of active listings versus the number of sales in a given month. This will tell you if it's a Buyer's market or a Seller's market. The months of available supply is a good indicator of whether a particular real estate market is favouring buyers or sellers. Typically, a market that favours sellers has less than 6 months of supply, while more than 6 months of supply indicates an excess of homes for sale which favours buyers.
There were 76 homes on the market in Uxbridge in November 2017 and 28 homes sold, so there was a 2.7 month supply of homes available [28 x 2.7 months = 75.6]. Thus it's a Seller's Market in Uxbridge. Have a look at Aurora for November 2017. There were 330 listings and 56 sales [56 x 6 months = 336] making Aurora a balanced market.
These updated Market Statistics will be posted at the beginning of each month, for the previous month.
If you'd like reminders, like us on Facebook as we will be posting as soon as the new stats are up.
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