Scarborough Home prices hit the record high in Sep 2021

Scarborough Home prices hit the record high in Sep 2021

Scarborough Home prices hit the record high in Sep 2021

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Scarborough Home prices hit the record high in Sep 2021!

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was up 3.1% from the previous month, up 20.4% from the same month last year. The average time to sell this type of home is around 8.4 Days. The current month of inventory of Attached houses in Scarborough is about 0.3. Therefore, this segment of housing is currently in a Strong Seller's Market.

Freehold Detached Market

The average price of detached houses was up 2.7% from the previous month, up 22.4% from the same month last year. Approximately 70.9% 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 $1.25M. The current month of inventory of detached dwellings in Scarborough is around 0.69. While sales are still robust, more new listings are coming to the market. The new listings are up 51.8% from the previous month, easing upward price pressure in the following months.

Condo Market

The average price of the condo was unchanged v.s. August, but up 18% v.s. last Sep. The sold listings were up by 5%, while new listings up by 10%.

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.