Aurora Sales up in October - Real Estate Market Report

After a surprisingly slow September, sales and prices have picked up in October in Aurora. Maybe a result of the most recent increase of interest rates, buyers feel the urge to buy now rather than wait.

The average home price in Aurora went from $807,421 to $906,928, that's an increase of 12,3%. But we have to keep in mind that we're looking at a relatively small market where a couple big sales can easily push the average up by quite a bit. More important is the amount of homes that have sold: 82 in October versus 58 in September.

Newmarket's prices remain stable. The average sale price in October ($751,325) went down by 2.9% compared to September ($773,422) - but sales went up (Oct: 119 / Sep: 95).

It's interesting to compare both markets. While Newmarket' prices have remained balanced in the 700s, Aurora has seen more ups and downs throughout the year so far (see graph below).

In East Gwillimbury the average sale price of a home in October was $801,326. That's 6.9% up compared to September ($749,553). Sales have increased a little (49 homes sold versus 36 in September).