Vaughan Real Estate Market Update – April 2024

The Vaughan real estate market in April 2024 saw the spring season fully come to life. With more inventory hitting the market and buyers re-entering with confidence, sales activity increased, prices remained steady, and competition returned for homes priced right.

While interest rates stayed flat, many buyers who had been sitting on the sidelines made their move—especially those with pre-approvals nearing expiration. If you're planning to buy or sell this spring or summer, here’s what you need to know.

📊 April 2024 Market Snapshot

• Average Sale Price: $1,352,000

• Month-over-Month Change: ⬆️ 0.3%

• Total Sales: 244

• New Listings: 724

• Average Days on Market (DOM): 29

• Sale-to-List Price Ratio: ~96.8%

• Months of Inventory: ~3.0

📈 The Vaughan market remained balanced, but buyer competition increased for move-in ready and updated homes in desirable neighborhoods.

💰 Prices Stay Strong with Buyer Demand Rising

The average home price in Vaughan increased by 0.3% in April, continuing a trend of stable, incremental gains. With consumer confidence rising and more buyers entering the market, well-positioned listings began receiving more showings and quicker offers.

Top-performing segments:

• Townhomes between $1.1M–$1.4M in Maple, Sonoma Heights & Patterson

• Condos under $850K near VMC and TTC subway access

• Detached homes between $1.5M–$1.8M with basement rental suites or in-law potential

💡 Sellers who prepared their homes with staging, repairs, and strong marketing were rewarded with faster sales and better results.

🏘️ Inventory Growth Offers Buyers More Choice

April brought 724 new listings—a clear sign that sellers are ready to capitalize on spring demand. While buyers had more options, they remained selective. Properties that lacked upgrades or were overpriced tended to linger, while those that were move-in ready and priced strategically sold within 1–2 weeks.

• DOM fell to 29 days, the lowest in 2024 so far

• Multiple offers reappeared for homes in the $1M–$1.4M range

• Sellers had more success with homes that had flexible closing dates and strong visual presentation

🏙️ Neighborhood Highlights: Sonoma Heights & VMC

• Sonoma Heights: A standout performer, especially for detached and semi-detached homes under $1.6M. Families loved the proximity to parks, schools, and community amenities.

• Vaughan Metropolitan Centre (VMC): Condos continued to attract both investors and first-time buyers due to affordability, access to transit, and rising rental demand.

📍 These areas led the market in buyer traffic and showing activity.

🔮 What to Expect in May & Early Summer 2024

Looking ahead:

• More inventory will continue to enter the market in May and June

• Buyer competition is likely to increase, especially with many pre-approvals expiring

• Interest rates may remain stable, but affordability will remain a key factor

• Expect continued strength in condos and townhomes, as freehold prices stay elevated

🎯 Sellers: Don’t wait—listing early in spring can help you avoid competition in June.
🎯 Buyers: Be ready to act quickly on desirable properties—this market rewards preparation.

💬 Final Thoughts

April 2024 was a healthy, active month in Vaughan real estate. Prices held steady, listings rose, and buyers returned with focus and urgency. As we head deeper into the spring and early summer season, market momentum is expected to continue—especially for homes that are well-presented and priced to reflect today’s demand.

📞 Thinking about buying or selling this season?
Let’s create a customized plan that positions you for success in Vaughan’s fast-moving market.