Vaughan outlook for 2020 Real estate market
Real Estate Outlook for 2020
Canadian Housing analysts expected that there will be an increase in the sales of real estate market of Vaughan unlike the low house sales experienced this year. The gains in the market are expected to be at a modest rate in this region in the future. Vaughan experienced a huge amount of competition among buyers as the supply was less than demand. This increasing demand is improving the value of Vaughan Ontario so we will soon see it in the list of economically strong cities of Canada. Its GTA prices will also experience a sharp increase.
Market Growth and Stability
The real estate market will be in favor of sellers which will promote sales. Due to preconstruction and new house projects, we can expect stability in the market, but overall the price of condos and detached houses will increase. The construction of new houses with more facilities, schools at walking distance, shopping centers and transport facility will attract many outsiders to Vaughan. An increase in population and employment opportunities will demand more building projects in next years.
Increase or decrease in market price
The average household income of Vaughan is above $120,000 which indicates the economic strength of the city. Many residents do business or private investments that’s why the infrastructure of this town is develop in such a way that it will improve the economic value of this city. This will not make the real estate market unstable with more construction work but will stabilize the market.
Real Estate Market
A number of properties are present in this city whenever investors look for real estate. This city comprises of almost 714 houses, 224 condos and 22 townhouses available for sale. The median listing price for houses for sale in Vaughan is $1,499,249. This price is almost 28% higher than the price of houses in the previous year. The listing price of Vaughan shows that the average price of a house is approximately $1,738,627, the price for a townhouse is $716,532 and that for a condos for sale in Vaughan have a listing price of almost $673,015. This city also provides a number of options for renters with 954 lists of active rental with the minimum price of $2,900.