Average Price of detached houses across Scarborough was flat in month of July 2021

Average Price of detached houses across Scarborough was flat in month of July 2021

Average Price of detached houses across Scarborough was flat in month of July 2021

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Average Price of detached houses across Scarborough was flat in month of July 2021. And average price of Town and Semi-Detached houses broke another record, now $950K.

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was up 2.6% from the previous month, up 18.6% from the same month last year. The average time to sell this type of home is around 10.5 Days. The current month of inventory of Attached houses in Scarborough is about 0.8. Therefore, this segment of housing is currently in a Strong Seller's Market.

Freehold Detached Market

The average price of detached houses was unchanged v.s. last month, up 14.9% from the same month last year. Approximately 77.4% of total freehold units sold in Scarborough last month are Detached houses. If you plan to buy a detached home in Scarborough, you will need to spend an average of $1.2M. The current month of inventory of detached dwellings in Scarborough is around 0.76. Both new listings and sold listing dropped, with sold listings down 20% and new listing down 30%.

Condo Market

The average price of the condo was almost unchanged compared June, and up 12% v.s. last July. The sold listing dropped by 32%, indicating a more buyer’s friendly condo market ahead.

If you plan to move to Scarborough or you want to learn more about real estate investment opportunities in Scarborough, please contact Toronto real estate agent Realtor Alan Zheng at 647-877-9311.