Aurora/Newmarket Prices slightly up, Sales at historical low - October Real Estate Market Report

Sales have dropped to a 28-year low for the month of October. Throughout Toronto and the GTA, Realtors have reported a total of 4646 transactions through the MLS System of the Toronto Regional Real Estate Board. That's the lowest amount of transactions in October since 1995.

In Aurora and Newmarket a combined 100 homes have sold. Last time less than 100 sales in those two Towns were reported was also in 1995.

(Data Source: MLS TRREB)

It appears that the Bank of Canada holding the interest rates in September and October has not increased Buyer activity and that Buyers are still waiting for rates to drop before taking action. The next interest rate announcement is scheduled for December 6th.

Aurora and Newmarket 0.6% up

On a positive note, prices have remained relatively stable and are slightly up. The average price for a home in Aurora in October was $1,371,453. That is still 0.6% higher than one year ago and reflects a 8.1% increase compared to this September. In Newmarket the average price was $1,147,175: also 0.6% higher on a year-over-year basis and 5% higher than last month.

The average price in East Gwillimbury ($1,198,988) decreased by 7.2% compared to the previous year. Bradford ($1,131,229) is up by 8.5%.

York Region Prices declining

Throughout Toronto and the GTA prices for all home types combined were up 3.5% from $1,087,590 in October 2022 to now $1,125,928.

York Region prices ($1,293,179) are up 2.75% compared to last year but dropped 2.8% from September to October.

(Data Source: TRREB Market Watch)