Scarborough average home price declined in May 2022

Scarborough average home price declined in May 2022

Scarborough average home price declined in May 2022

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Scarborough average home price declined in May 2022!

Freehold Attached Market

The freehold attached houses' average price, including town, semi, and link houses, was down 4.3% from the previous month, up 10.5% from the same month last year. The average time to sell this type of home is around 12.4 Days. The current month of inventory of Attached houses in Scarborough is about 1.5. Therefore, this segment of housing is currently in a Strong Seller's Market.

Freehold Detached Market

The average price of detached houses was down 5.1% from the previous month, up 11.0% from the same month last year. Approximately 78.0% 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 $1.3M. The current month of inventory of detached dwellings in Scarborough is around 1.63. The new listings were unchanged v.s. last month, and down 12.1% from the same month last year.

Condo Market

The condo market is a Balanced Market. It takes an average of 14 days to sell a condo unit in Scarborough. The average price was down 4.5% from the previous month, up 16.5% from the same month last year. The new listings were down 7.4% from the previous month, and down 5.0% from the same month last year.

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