Aurora Real Estate News

Tammy Andreakos from Tammy Andreakos Real Estate Services and today I can be taking a look at 2020s hottest neighborhoods in the Toronto area for houses as measured by The Toronto Real Estate Association that saw the most rapid apreciation and median house prices in a big trying to be soft in 2020 was this Urban Exodus people moving outside of the downtown core to the outer suburbs nine of the ten neighborhoods in our list are outside the city of Toronto so they're in the suburbs and four of those neighborhoods are in relatively rural areas were lot sizes are measured by Acres not in feet so they really big shift in the market we're going to kick off with number 10 on our list which is the only neighbourhood in the city of Toronto and Princess Rose storm we can see that it's in the West End of the city in Etobicoke was Zoom the map of to get a better feel for where is in Toronto median house prices there or 1.7 million up 27% over last year and not hear you're generally getting a detached bungalow on a roughly 60 Foot Locker number 9 on our list is rural School God this is the East End of Durham region again kind of Zoom the map out to get a feel for what that is median house prices in scuba divers 740,000 up 27% again the big shift here is affordability and big yards you know I'm not are you can get a property on a half-acre lot so that was a big move pushing people to rule Scugog number 8 on the list is Eastlake which is in the East End of Oakville bordering Mississauga again the shift here is not affordability because median house prices for just over two million up 28% over last year and this year you're getting a pretty spacious four-bedroom you know for bathroom house in pretty good condition number 7 on our list is again a rural area and that's rule whitchurch-stouffville we can see on the map at this area's colour blue because based on the months of inventory it was a relatively cool Market in December but it doesn't change the fact that price was sword in 2020 up 20 8% over 2019 median house prices in 2020 or 1.7 475 and in that area are getting again roughly a three to four bedroom detached tone but you're getting anywhere from one acre to 5 Acres a really really big lots and Rural Richard Stovall number 6 on our list is Shore Acres which is in Burlington right along the water median house prices there are just over $1000000 up 29% over last year and then that are you're getting roughly at you know three bedroom lights to bathroom home with a pretty spacious backyard and number 5 on our list also in Burlington is rural Burlington or median house prices were 1.47 million of 29% than this area is green because of December was a relatively balance Market Bar prices did surge in 2020 and then I hear you're getting a detached house three to five bedrooms on a on a 1-acre lot roughly number for on our list palgrave Zoom the map out of little bit here will cease coming to North End of Peel region house prices there were 1.6 million up 31% over last year and a standard getting pretty Big Lots up there in the Acres wanted to acres four bedroom detached homes number 3 on our list was in Vons Uplands which is again a cool neighbourhood again partly because home prices are relatively High their median house price is 1.7 million of 32% over last year you know typical homes 4 bedrooms 5 bathrooms detached homes are in this neighbourhood was in the map of a little bit to get a better feel for where that neighbourhood is in Vaughan number two on our list German Mills which is in Markham right around the 404 Zoom the map out a little bit in that neighbourhood median house prices for 1.25 million up 37% over last year typical homes 3-bedroom 3-bath on a on a 30ft law and number one on our list is far out there Beaverton in North Durham region I'm going to zoom the map out so I can kind of see where this is so this is right by Lake Simcoe median house prices up there were 550,000 up 38% again the big move out there was about affordability and people getting you know newer homes in the mid 500,000 which is hardly get in any other part of the city so those are our top 10 hottest neighborhoods in the GTA any comments feedback to supposed to below and will follow up with a video on next week with the hottest Condominiums as well. Tammy Andreakos from Tammy Andreakos Real Estate Services

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Home Prices in Vaughan and Richmond Hill. Kabob on Richmond Hill here first of all detached then I'm going to get into the condo Market let's see what's happening in Vaughan here so sales drop down a little bit from the previous week and and fruit the previous couple of weeks and sales normally right now should be picking up but I'm not concerned it's just one week we sold 69 detached homes in Vaughan last week 14 of those were at 2 million dollars or more look at average sale price do a short way up for to 1765000. That's hot the average sale price for a couple of weeks now is gone up and I have about eight months or so I've data on the board here broken down on a weekly basis 1000765 is a phenomenal week when it comes to average sold prices and even when you're looking at the 14 well if you look at over the last few weeks we've got 10 11 12 17th 14 property selling it to million dollars or more if we come back to August September October last year and we were doing well well we can see that the 10 11 12 1714 is kind of way higher than a typical week last year and average so prices were sitting a little bit over 1.5 now they're north of 1.7 prices are up the luxury business is out the luxury Market there's a lot going on there in Vaughan it's very strong comparing to last year's average so price the blue as last year the Orange is this year we're way ahead of last year's average sale price for last week it was 28% moving forward it's going to be really kind is not going to make a lot of sense comparing the last year's average sale price just because we went into the lock down this time last year now I remember for Vaughan last year actually it's it's kind of reacted a bit late then then say Toronto or some of the other areas but if we just go back where we're sitting at 2227 19% higher than last year's average sold price all pretty strong very strong when we look at sales again compared to last year sales were way ahead but we're we're doing much more sell this you're much more activity than we did last year in Vaughan of this 69 that were sold 68% so that list price or more so there's lots of lots of competition to buy detached homes in Vaughan listings are higher than what they were last year very similar to the previous week we we listed 142 detached homes and when we look at months of inventory in the game months of inventory is the the relationship between supply and demand it really helps us to understand where the market is heading and more particularly where our price headaches and when you're sitting this slow at point nine months of inventory so less than a month of inventory available you know there's going to be lots of multiple offers you know there's going to be lots of people paying list price or more while we know last week it was 68% sold at list price or more and as long as months of inventory sitting this low prices are going to stay high or go higher that's just the way the whole relationship Works between supply and demand here's Richmond Hill similar story we saw 53 detached homes 10 of them were at 2 million dollars or more an average Supply prices climbing the average detached home in Richmond Hill sold for 1770000 5000 more than the average for Vaughan so prices in Vaughan Richmond Hill 1000762 million 770 pretty hot and when we look back to where we were September October and we thought we were doing well in September October we're sitting at about 1 million 501 a million 600 now we're 1 million 770 price is of gone up drastically just in a few months compared to last year it's tough to do that for this week we're looking at 31% but you know we started the the lockdown last year if we come to the few weeks before that we're sitting at 13% higher 21% higher we're way higher than last year's average sale price for detached homes sales we're selling more than what we sold last year it's almost double but the magic number is 72% of the home sold last year last two weeks already sold that list price or more so in 68% Richmond Hill 72% Homes are selling at list price or more lock the competition listings were listings more than what we listed last year and months of inventory is sitting at one point one so you see what's happening here I talk about the relationship of of supply and demand and as months of inventory prices tend to come down as months of inventory come down prices tend to go up and you kind of see it hear the high of what's not even a hide still very much a seller's market but on March March lyrics we had months of inventory of 1.8 so it came up and here and that's a month months of inventory asorey average Soul priced came down so much of inventory goes up average sale price comes down months of inventory starts to drop over the next couple of weeks average Soul price goes up that's a typical relationship between months of inventory and price months of inventory is go up price comes down this is how it helps me to kind of understand what's going to happen over the next few weeks and sometimes we'll see a delay where there's a little bit of a reaction the following week but it but it's pretty close. Condos for Vaughan we sold 33 condos week ending March 17th and average sale price of sitting pretty much the same that it's been over the last 3 weeks so 644000 is what the average condo is selling for in Vaughan and prices have been pretty steady there and overall we're a little bit higher than where we were for October and November we were just under six hundred thousand in November and now we're sitting at 640,000 so the average so price has come up for condos a bit top 10 compared to last year but we're basically sitting at almost exactly where we were at last year for average sale price and condos just a few thousand dollars off it's a little bit less 1% less overall we've been bouncing back and forth and in the fact that we're kind of even to where we were at if I averaged it out we're basically very similar to where we were last year's average sale price for condos it's not so bad considering the the the expectation that condo prices are going to bottom out it's been sitting pretty much even there sales we're selling more than what we sold last year and other previous week was sold a little bit last week before that we sold a bit more so sales are kind of bouncing back and forth but I've lost 33 that sold 58% sold at list price or more and we've seen it here at 31% we've seen it at 70% to the condo Market is getting some subtraction listings were listing a little bit less than what we listed last year over the last three or four weeks so it averages out to be very similar to what we're listening so we're selling a bit more but we're listing about the same and months of inventory sitting quite low at point seven months of inventory so we have about three weeks of inventory left with that means this at the current rate that we're buying condos and if no more come on to the market no more get listed in 3 weeks will be sold out and that kind of helps to understand where well there's going to be some competition and it should kind of force prices up if something doesn't change and that helps to understand with Y months of inventory sitting at kind of point seven for a few weeks and average Soul prices kind of stayed steady their Richmond Hill prices average sale price came down a little bit by $5,000 also kind of still the same sales drop by to we sold 18 condos in Richmond Hill start a lot when not doing huge condo business in New York Region but there is business there compared to last year where we're a bit higher and and again I guess I sound like a broken record for for a few a few weeks now just because I don't know who's joining us on this video at this time but last year at this time we were starting our lockdown and it's really tough to compare to an average sale price where we weren't allowed to be out there buying or selling real estate but over the last few weeks we've been kind of higher and lower than last year's or pretty even there sales slightly go back a few weeks were basically selling what we sold last year so we're doing the same kind of activity but of those 89018 is not a lot but of those a 1794 % so 17 out of the 18 sold at list price or more so what few condos we are buying or selling in Richmond Hill they're going fast and they're being sold at list price or Mark almost all of them so that list price or more listings where listing last so we're buying kind of the same volume that we were buying last year but there's not that more listings going on to the market then what were listed last year and months of inventory sitting extremely low half of month of inventory so there's two weeks which helps explain why almost every condo that was bought in Richmond Hill last year was Atlas price or more we've only got about two weeks of inventory when it comes to Vaughan condos so prices are very strong in Vaughan when it comes to in Vaughan and Richmond Hill when it comes to condos when it comes to detach same thing goes for townhouses in Sammy's we're not seeing any kind of relief prices seem to be heading up and there's no sign of them slowing down right now when month of inventory is sitting there and as a quick summary really what we're looking at here for detached Vaughan Richmond Hill point nine months of inventory Richmond Hill 1.1 Vaughan .7 Richmond Hill for condos .5 those are Lowman Lowman Elementary there's this is just again no sign of relief my name is Tammy AndreakosEsther with Tammy Andreakos Premier subscribe below hit the Bell button so you're reminded when he's videos come up if I can help you with any of your real estate needs give me a call have a great day we love our relief that recently our homes came at Target for people who steal your mail we call them Parts Pirates but now we'd even installed an outdoor security camera now the Pirates don't even go as far as the porch as soon as they know they got off her property pretty quick hello folks I have your latest home prices and insights for Vaughan and Richmond Hill for week ending March 3rd my name is Tammy Andreakosesta with Tammy Andreakos Premier we're here every week with the latest update so please subscribe below hit the Bell button so you reminded when he's videos come up and share them with everybody thank you let's have a look here okay so I'm talking about Vaughan detached only my chart has everything broken down by week here so for week ending March 3rd sales are up from where they were the previous week we sold 74 detached homes in Vaughan 11 of those homes were sold at 2 million dollars or more in any 11 if we go back to have about eight months or so of the data on here 11 is is I mean there's a 14 here but there's a 12 there but in another 11 411 is a pretty good week as far as selling luxury luxury homes in Vaughan but average so price has come down we're sitting at just under 1.64 the the average detached home in Vaughan the average sold price and if we go back in just a few weeks we were a little bit over 1.7 million an hour just Thunder 1.6 million sew in a few weeks average so price has come right down now does that mean your home is worth less not worthless story worth a little bit less than what it was a few weeks ago that's not what it means it's just a composition of which homes are being sold this week versus the previous week and and but if that keeps going on over the course of several weeks then we could start to see a friend and we have seen average sale price for detached home over several months prices have been going up this has to continue to come down for it to kind of get to it was before compared to last year we are sitting at 19% higher than what the average price was the same time the same week last year looking at salesville 74 of those sales is it last year at this time we sold only fifty-seven so sales are continuously higher than what they were last year the orange that's the 2021 sales and blue is for last year of those 74 78% sold at list price or more so if you're in the market I'm a realtor I'm in the market every day if you're in the market and you're looking to buy and you're looking to sell your seeing a lot of action out there right now lot of multiple offers a lot of people paying over asking price lots of people competing to buy the right house we listed 128 detach properties last week which is way higher in for the last few weeks were listing way more detached homes and we were listing last year at the same time months of inventory is sitting at point nine months of inventory is its kind of the the the relationship between supply and demand anything below 4 months of inventory is a seller's market where we're sitting at point nine less than 1 month of the inventory out there that's why there's so much competition out there the sellers are very much in charge frankly it's a little bit surprising that for the last few weeks average so price has been coming down but it's still relatively High months of inventory sitting really low so either in the next few weeks months of inventory is going to come up and in an average sale price is going to come down or this is months of inventory is going to stay low and prices going to kind of go up the other way looking at Richmond Hill also average so price has come down a little bit the average detached home in Richmond Hill sold for 1681000 last week's sales also dropped a little bit from the previous week to 37 and 7 detached homes in Richmond Hill sold for 2 million dollars or more we're still sitting up 8% higher than where we were last year at this time but we've got some crazy percentages to the other previous week or 21% higher and 24% higher overall detach properties in Bond in Richmond Hill are way more expensive than what they were this time last year I know you can't put a number on way more but they're way more when we look at sales well we've sold much less this week at 37 than what we sold last year this time at 60 but I've lost 37 81% sold that list price or more so if you're looking to buy a detached property in Richmond Hill expect to be competing be prepared that you and other people are going to want the same house step just an arm and you need to prepare for that when we look at listings very very close to where we were last year now on the last few weeks we've been listing more we listed more this week than we did last year but it's only by 4 so it's it's basically about the same and months of inventory jumped up to 1.891 point eight is still very much a seller's market anything below 4 months is a seller's market but one when I say JUMP top what we've been sitting at 11.1 so to go up to 1.8% up and we are going to see the the aftermath of this over the next few weeks will prices come down or we'll months of inventory come down and then prices go up again so we'll see what happens there looking at condos condos have rebound everywhere looking at Bond sales jumped up the 35 last week 35 is the highest week of sales we have going back eight months so 35 condos were sold in Vaughan average sold price jumped up the 646 thousand and that's a very strong weak compared to the last eight months that I have on the board here compared to last year we are 5% higher than we were last year's average Soul price and you know when you kind of look back just for this year for 2021 average sale price goes up goes down compared to last year but I think so far if we really average about the overall trend is going to be where either where we were last year or just slightly higher think the numbers would show when we look at sales compared to last year we're selling more than for this week we're selling more than what we've sold last week and 46% of those sold at list price or more so there's some competition going on with the Vaughan condos listings slightly more than what we were listing last year months of inventory oops I I I made a mistake are I should have purple that out so you could see it but we're sitting at point seven months of inventory extremely low when it comes to Vaughan condos and and 441 phone for 1.3 2.7 it's cut in half in that helps to explain why prices are going up there is there's less inventory there's more competition forces prices up sellers are in charge Richmond Hill Condos sales stay the same from one way to the next we sold 20 condos in Richmond Hill. 20 is a very good week overall it's not the best week but it's a it's a Monster High weeks that we've done average sale price came down a little bit to 580,000 it's down about 19,000 from where it was before but 580,000 is also kind of it's all you know each week it goes up down up down and 580s kind of sitting in to where the prices are so far for this year and it's higher than anything we've seen over the last eight months compared to last year average sale price is 3% higher than where we were last year this time sales of the 20 have 55% sold at list price or more so the some competition some not but half you're competing on listing little bit less and they've been less a few weeks now in a row then what we've been listing last year so sales are about the same or more and listings are a bit last inventory is getting a bit tight you can see that and and kind of stayed here with months of inventory we're sitting at point four months of inventory average so priced should be going up and over the next few weeks I imagine if if this doesn't changed we're going to see average sale price going up because it's just not a lot to choose from people want to buy and they're going to compete in the sellers are in charge so it's going to force prices up I got one last slide to show you this is just for fun I have on the board behind me hear detach prices for Vaughan average Soul prices the yearly average going back twenty years so in the year 2003 average detached home in Vaughan soul 349000 sets a 350 can you imagine 350,000 for a detached home in bond that was the average yearly price and they say that every 10 years price double so if we go to 2010 over here well 350 double would be seven hundred thousand so not quite fitting at 635 so it's close but not quite double well if we go 6:35 and we double it because that's in 2010 to get to 20 2012 that sound it's 1 million 270 is what it should be why it's more than double because for last year the average sale price of a detached home in Vaughan was over 1400000 so it didn't quite double in Vista on your slot but going from 2010 to 2028 more than doubled I want to put this on it just something can you imagine when it and it's only 20 years ago it's not like we're talkin 100 years ago was 20 years ago is not that long ago and and imagine imagine somebody bought a family home here at 300 400 500 thousand and now it's worth 1.4 million That's The Power of real estate anyways my name is Tammy Andreakosesta with  can you imagine when it and it's only 20 years ago it's not like we're talkin 100 years ago was 20 years ago is not that long ago and and imagine imagine somebody bought a family home here at 300 400 500 thousand and now it's worth 1.4 million That's The Power of real estate anyways my name is Tammy Andreakosesta with Tammy Andreakos Premier if I could help you with anything please call ask questions comment below we're happy to answer your questions have an awesome day. Stay safe will talk to you soon can you imagine when it and it's only 20 years ago it's not like we're talking a hundred years ago was 20 years ago is not that long ago and and imagine imagine somebody bought a family home here at 300 400 500 thousand and now it's worth 1.4 million That's The Power of real estate anyways my name is Tammy Andreakos