Low Inventory, High Prices - July Real Estate Market Report

Our local Real Estate Market keeps going strong. Prices in York Region in July were up 16.3% compared to last year. There is only a little bit more than one month of inventory available on the market.

The average home price in Aurora was $1,231,280. Although this is slightly lower than in June, it reflects a 11.8% increase on a year-over-year basis (2020: $1,101,096). The average price for a detached home was $1,535,885 - no change compared to the previous month.

East Gwillimbury almost 40% up

In Newmarket prices came up 0.4% compared to June and 27% compared to last year's July. A home in Newmarket cost $1,092,863 on average (2020: $858,955). The average price for a detached home is $1,223,591.

Also no signs of a slowing down in East Gwillimbury where the average price of $1,349,121 is the highest in history. Compared to last year (July 2020: $966,408), this represents an increase of no less than 39.6%.

30% less listings

Throughout Toronto on the GTA, a total of 9390 sales have been reported on the MLS System of the Toronto Regional Real Estate Board. This is a 15% decrease (2020: 11,033) in sales, which is due to the fact that there were 30% less listings than last year. The average price in the GTA for all types of homes combined ($1,062,256) is up by 12.6%.