The average condo price is $749,515 and the median house price is $718,00
Willowdale East and West Condominium market report, JULY 2021
This report contains two sections (1) data related to price (2) data related to inventory. The residential inventory (supply and demand) and price have a direct relationship. Hence, These parameters are crucial to understanding of the overall residential market.
The source of data for this report is Toronto Real Estate Board, Multiple Listing Service MLS®. The data is for the period of 28 days.
The average condo price is $749,515 and the median house price is $718,000
There are in total 193 new listing and the number of condos sold are 113 in Willowdale, Ontario.
The Average days to sell a Condo is 15 days.
The average Monthly condo price change July 2021: Price Increase of 7%
The average Yearly price change, July 2020 to July 2021: Price Increase of 14.8%
Section (1) of this report focuses on Condominium prices changes including (a) the average and median sold prices (b) average selling to listing price ratio
The above Graph shows the average sold prices for condominiums in Willowdale, Ontario. The graph shows the data presented in Table 1. A price increase of 7% for July 2021. There is a yearly price increase of 14.8% compared to June 2020. The Average price is the highest for the last 12 months.
*Understanding the average sold price
Average Sold price may vary drastically in the short-term from month to month for two main reasons.
(1) the mix of sold homes changes; for example, one month, more high-priced homes are sold; hence, the average sold price is skewed to a higher number. If you have more lower-priced homes are sold in one month, the average sold price will be lower for that month.
(2) The change in the market condition where overall homes are sold more hence pushing the average sold price higher, or vice versa.
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The above Real Estate article was provided by David Khosravi, a leader in his field in North York, Willowdale Real Estate, Reach out to David via email: email@example.com or by phone: 416.990.2424
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