Numbers remain strong - November Real Estate Market Report

We hope all is well and you and your family are gearing up for the Holidays. Although we're entering a traditionally slower season, our local Real Estate Market remains very strong, driven by low inventory.

The average home price in Aurora in November was $1,440,133. That's the highest ever and reflects a 28.5% increase compared to last year.

Newmarket: Less than one month of Inventory

A similar increase (+26%) was presented in Newmarket where the average price point went from $963,661 one year ago to now $1,214,479. Only 125 new listings (freehold and condos combined) came on the market in November and a total of 143 homes have sold. That means that there was less than one month of inventory and it illustrates the current shortage of properties for sale. The average price for a detached home in Newmarket was $1,379,484.

Prices in East Gwillimbury went up 40.8% year-over-year from $931,428 to $1,356,782. Re-sale of new(er) built homes is an important factor of this growth. In Bradford the average price for a home in November was $1,144,936 - an increase of 23% compared to last year.

Prices in Toronto/GTA up 21.7%

Throughout Toronto and the GTA, Realtors reported a total of 9017 sales in November on the MLS System of the Toronto Regional Real Estate Board - 3.3% more than 12 months ago. The average price for all types of homes combined was $1,163,323 (+21.7%).