Another Record month in the GTA - November Real Estate Market Report

Our local Real Estate Market has not slowed down. Inventory is low and prices are up. The average selling price in Aurora this November was $1,120,122 - this represents a 23% increase compared to last year ($910,058) and is 6.4% higher than in October 2020. The average price for a detached home is $1,318,310.

Newmarket 17% up, East Gwillimbury 22%

In Newmarket prices have increased by 17% on a year-over-year basis from $821,167 in November 2019 to $963,661 this month. As in Aurora, the lack of inventory also caused a price increase ( 5.3%) compared to the previous month. A detached home cost $1,084,242 on average.

Prices in East Gwillimbury were up by almost 22% on a year-over-year basis (November 2020: $963,105 / November 2019: $790,781).

Total Sales up by 24.3%

The record pace of home sales in Toronto and the GTA continued with a total of 8766 sales being reported through the Toronto Regional Real Estate Board. This result was up by 24.3% compared to November of last year. The year-over-year growth was stronger for single-family homes in the GTA regions surrounding the City of Toronto, as we're noticing more and more families considering leaving the city for a bigger home and backyard in the suburban areas. The average selling price in Toronto and the GTA for all home types combined was up by 13.3% to $955,615.