Fewest Sales in September since 1999 - Real Estate Market Update

A total of 4642 Sales have been reported through the MLS System of the Toronto Regional Real Estate Board in September. This is the lowest for the month of September since 1999, when the population in the GTA was 4.521 million (now 6.372 million). It indicates that Buyers are still on the fence, waiting for interest rates to potentially go down.

GTA: Prices 3% up

Interestingly, prices remain quite stable. Throughout Toronto and the GTA, the average price for all home styles combined was $1,119,428 in September. That's higher than in August ($1,082,496) and a 3% increase on a year-over-year basis.

The average price in York Region ($1,330,636) remained unchanged compared to the previous month and is 6.75% higher than in September of 2022.

(Source: TRREB Market Watch)

Sales and Prices dwindled in Newmarket and Aurora

In Aurora and Newmarket prices went down compared to the last month. The average price in Aurora in September was $1,268,722 (August: $1,462,134). But on a year-over-year basis, prices are still 3% up. The average price in Newmarket was $1,092,576 and 3.9% lower than in September 2022. 50 Homes have sold in Aurora (9/2022: 68) and 62 in Newmarket (9/2022: 75).

East Gwillimbury's average price of $1,275,083 dropped 6% compared to last year and Bradford (avg. $995,859) was down 5.9%.