A Stable Summer - July Real Estate Market Report

I hope you’re having a great week. Although the Real Estate Market finds itself in a bit of a summer lull, prices remain stable.

In fact, the average price in York Region of $1,356,977 in July was up 6.4% compared to last year ($1,274,911) - but slightly down compared to the previous month of June ($1,391,215). The amount of homes sold (919) was down by 29% compared to June (1302).

(Source: TRREB Market Watch)

Newmarket up, Aurora down

In Newmarket the average home price in July was $1,207,809 – very comparable (+0.8%) to June’s numbers and 7.2% up on a year-over-year basis (July 2022: $1,126,666). Aurora’s July average of $1,315,006 was down 5.5% compared to the previous month.

Prices in East Gwillimbury ($1,399,071) were 1.6% lower than in June, but a whopping 20% up compared to last year’s July ($1,165,181).

GTA: Average Prices up year-over-year

Throughout Toronto and the GTA Realtors have reported 5250 Sales through the MLS System, representing a 7.8% increase compared to July 2022. The average price for all types of homes of $1,118,374 was up 4.2% on a year-over-year basis, but 5.4% lower than in June ($1,182,120).