Prices are up, Sales down - April Real Estate Market Report

I hope you and your close ones are all holding up ok. Didn't it feel like April just flew by? At least compared to the never-ending March, right? Time to look back and see what happened in our local Real Estate Market last month.

Generally speaking, because of COVID-19, the market has slowed down in terms of new listings and sales. Which makes sense; if there are less homes on the market, less homes can sell. While there were 366 active listings in Aurora in April 2019, only 177 entered the MLS System this April. But here's the good news: prices are strong!

Detached homes in Aurora 10.5% up

The average home price in Aurora was $914,577. That's 6.5% higher on a year-over-year basis ($858,877 in April 2019). The average price for a detached home was $1,182,150 - this reflects an increase of 10.5%! As mentioned, sales are down throughout the entire Toronto Real Estate Board. Only 43 homes have sold in Aurora in April (2019: 109).

Newmarket and East Gwillimbury holding up strong

In Newmarket home prices increased by 12% from $724,263 last year to $810,818. The average price for a detached home was $925,538 (+11.5%). 45 homes have sold, that's 68% less than in April 2019. Prices in East Gwillimbury increased by 8.5% on a year-over-year basis to $876,541 and were even slightly higher than in March.