Scarborough detached and attached average home price declined in Jan 2023

Scarborough detached and attached average home price declined in Jan 2023

Scarborough detached and attached average home price declined in Jan 2023

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Scarborough detached and attached average home price declined in Jan 2023!

Freehold Attached Market

The freehold attached houses' average price, including townhouses and semi-detached houses, was up 3.0% from the previous month, down 22.8% from the same month last year. The average time to sell this type of home is around 22.7 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 up 9.2% from the previous month, down 20.6% from the same month last year. Approximately 83.3% 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 1.6. The new listings were up 64.7% from the previous month, and down 45.9% from the same month last year.

Condo Market

The condo market is a Balanced Market. It takes an average of 38 days to sell a condo unit in Scarborough. The average price was down 1.1% from the previous month, down 13.6% from the same month previous year. The new listings were up 94.2% from the previous month, and down 10.2% 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.