Brief Summary Residential Average House Sold Price.
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 from 28 days in May 2021.
In May 2021 the average house price is $2,113,854, and the median house price is $2,065,000.
There are in total 83 new listing and the number of houses sold are 30 in Willowdale East and West.
The average days to sell a house is 15 days in May 2021 compared to 46 days in May 2020.
The average price change, monthly, from April 2021 to May 2021: Drop of 4.2%
The average price change, yearly from May 2020 to May 2021: Increase of 6.3%
The above Graph (2) shows the average sold price for the residential homes in Willowdale East and West community. The Graph shows a drop of 4.2% in house prices from April 2021 to May 2021.
*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.
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