Carey and Sharon  Rosenzweig

Carey and Sharon Rosenzweig

Sales Representatives

RE/MAX Realtron Realty Inc., Brokerage*

Mobile:
416-818-2600
Office:
416-222-2600
Email Me

Hire A Top Class Real Estate Agent Who Will Invest In Your Future

Dreamwood Maple Highland Vaughan 4th quarter real estate sales report 2022

Dreamwood and Maple Highlands Vaughan Real Estate
Market Analysis 4th Quarter 2022
Detached Semis and Townhouses Sold

including Rural vaughan

 4th Quarters   2018   2019   2020   2021 2022 % 2017/16 % 2018/17 % 2019/18 2020/19 2021/20 2022/21
House Sales 9 19 26 20 14 -52%  -10% +111% +36% -23% -30%
Average Home Price $1,864,000 $1,053,468 $1,961,385 $1,864,634 $1,627,921 -24% +56% -43% +86% -5% -13%
Inventory 24 29 25 16 12 +145% -11% +21% -14% -36% -25%
New Listings 28 38 45 25 26 +21%  -32% +36% +18% -44% +4%
Days on Market 16 40 31 22 20  -% -27% +150% -22% -29% -9%
% of Sold Price to Listing Price 92% 94% 93% 100% 98%  -6% -3% +2% -1% +7% -2%

Real Estate Market Synopsis

Ideally when we want to compare how a market is doing we should compare it to the same time period of another year, i.e. fall/winter market to fall/winter market. Therefore, we have to compare how this quarter of the year is doing compared to the last quarter of 2021. Traditionally the spring market is the best market of the year and the summer market gets slower due to it being a holiday time and kids being off school. The fall market usually picks up again as routines go back to normal, and our fall market reflects this.

When we look at the average number of sale, they decreased on average by 6 home sold from 20 to 14 homes sold a decrease of 30% percent, which seem very significant but was probably due the the very low inventory of homes available, you can't sell whats not there. The home price decreased by approximately $230,000, from $1,864,634 down to $1,627,921 with less sales, prices can appear to go down significantly.  The inventory decreased from 16 homes to only 12 homes and the new listing went up slightly from 25 listings to only 26 listings.  Houses remained on the market for 20 days as opposed to 22 day to be sold. They sold for close to asking at 98% of asking less than last year at 100%.  We must remember that although these numbers represent a significant change from last year, they may not represent the typical market because of the small number of homes sold in a rather large area with a huge diversity of housing prices. Prices range from the $800,000's to a million (plus) dollar price range. Therefore the average price may not be accurate. The average number of homes available for sale decreased by 25% and the new listings only increased by 4%. However the length of time it took to sell a home was 2 days faster. The ratio of selling price compared to the listing price went down by 2%. This could suggest that more smaller homes sold as they usually sell for close to asking and that would cause the average price to decline.

It would appear that in 2022 Dreamwood and Maple Highland like most of the GTA had an usually year end due in turn to the multiple consecutive months of interest rate hikes. We consumers af uncertain of what seem to be going on or what the future has instored, they usually remain on the side lines and wait to see what will happen and what they should do. Usually when there are 4 or less homes listed for every sale it is considered to be a sellers market, when there are between 4-6 homes available for every sale it is considered to be a balance market, an over 6 houses available for sale it is considered to be a buyers market. This year would definately have been a sellers market in both the GTA and Rural Vaughan, but due to the unknown and unprecedent rate hikes it did not appear to be a sellers market. In this area there were around 2 house available for every house sold.

The housing market in the new year will only improve if more homes get listed and rates stop increasing resulting in consumer confidence increases. Again you can't sell what's not available to sell and never in history have we had so many interest rate hike in such a short time .

Here are a few facts that we see and know:

  • 2021 set a record for the second highest average price on record, however this forth quarter set the record for lowest inventory.
  • Emmigration will continues at record levels with approximately 1,500,000 people expected to immigrate in the next 5 year and they will need to have a place to live.
  • There is a shortage of homes and trades to build homes, therefore housing can not be built fast enough for the demand
  • Rental rates have increased significantly due to the housing shortage.
  • The boomers' kids have grown up (kids born from 1977 to 1994 which number around 9.2 million in Canada in 2011) they are ready to buy real estate.
  • Real Estate over the long term is a sound investment that continues to increase.
  • Real Estate has been paying a higher return than investing you money in the bank.

Toronto offers an ideal location for many, close to everything and very central. However many people have discovered working remotely they don't need to be in the city's core and live in small quarters, they can now spread out and live in larger homes closer to the north end. Now is the ideal time to invest and buy real estate while other are waiting on the side lines. That move up home has become more affordable. Townhouses, semis, smaller detached and larger condos with parking are always in demand for first time buyers. The return on your money invested in a bank is extremely low, so why not invest in housing.  It is a sound investment!  We work the area and often know of homes coming out for sale before they are listed on the market. There are many predictions about the economy and real estate prices in 2023, as there are every year. The heads in our company are prediction that by 2030 the average house price in the GTA will be over $2,000,000 (it already is in some areas). Predictions can be right or wrong similar to the weather. What we do know it that it is still an excellent market for both buyers and seller. This is not expected to change in the immediate future.

Even though we are not sure how accurate the average house price is for Dreamwood and Maple Highland.  We still know we have an excellent market for seller and buyers if prices are down why not get in now.

For Dreamwood and Maple Highlands Vaughan Real Estate Listings click 

For more information on Dreamwood and Maple Highlands click here

 

Have Questions?

I agree to receive marketing and customer service calls and text messages from RE/MAX Realtron Realty Inc., Brokerage*. Consent is not a condition of purchase. Msg/data rates may apply. Msg frequency varies. Reply STOP to unsubscribe. Privacy Policy & Terms of Service.