The average house price is $2,186,719 and the median house price is $1,849,513 Willowdale East and West Ontario residential 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. Brief Summary 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 house price is $2,186,719 and the median house price is $1,849,513 There are in total 50 new listing and the number of houses sold are 22 in Willowdale East and West. The average days to sell a house is 23 days. The average MONTHLY price change for July 2021: Increase 6.5% The average YEARLY price change, from June 2020 to July 2021: Increase 2.6% The above Graph (1) shows the average sold price for the residential homes in Willowdale East and West community. The Graph shows a increase of 6.5% in average house prices from June 2021 to July 2021. The yearly changes from July 2020 to July 2021 is 2.6% increase in average prices. *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. AuthorThe 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: drdavidkg@gmail.com or by phone: 416.990.2424 Comments are closed.
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AuthorDavid Khosravi |