A balanced Market? - April Real Estate Market Report

I hope you're enjoying the beautiful Spring weather. Our local Real Estate Market remains strong, mostly driven by low inventory. The average price in York Region in April was $1,369,724 - up 1.9% compared to the previous month and almost back at the same level as 12 months ago. The average time on the Market for a property was 23 days.

(Source: TRREB Market Watch)

In Aurora the average price of $1,371,925 in April  is still 8.6% lower on a year-over-year basis. 93 new listings have hit the Market in April and 84 have sold. This highlights the strong demand and current market conditions being in favour of the Sellers.

In Newmarket the prices have dropped 3.3% from $1,197,824 in March to $1,158,179 in April. The average price for a detached home in Newmarket is $1,343,972. East Gwillimbury prices in April ($1,336,713) also came down 3.5% compared to the previous month and are 11% lower than last year.  The average price for a home in Bradford is $1,178,785.

GTA: New Listings down 38%

Throughout Toronto and the GTA Realtors have reported a total of 7531 Sales through the MLS System. That's slightly less than last year (7940), but new listings were down by more than one-third. The average price of $1,153,269 is 7.8% lower than 12 months ago. Although market conditions remain tight, sales are increasing and prices seem to stabilize at a high level.