VAUGHAN Market Report for November 2008 (District N08):

The average home price in November was $502,567 and the median price was $430,000. This is still a big increase from October 2008 in this very active market district (16.8% up for average price and 7% up for median price). TREB Members reported much lower volume of transactions from 113 in October to 87 in November in total. There were only 277 new listings in November compared to 427 in October 2008. This is a drop of 35% which affected the inventory of the houses in this area and increased the average price. The number of active listings in Vaughan in November (805) is higher but very similar to October (796). Vaughan realtors reported the increase of average days of properties on the market from 29 days to 42, which gives buyers the opportunity to research and look for a longer period of time. The houses are still selling at a strong ratio of sale to listing price of 96% (1% less than in October).

Please contact Margaret Kisza with any questions and concerns at: 416 543 9264 or: mkisza@sympatico.ca