Prices climbing steadily - May Real Estate Market Report

Prices in York Region have increased for the fifth month in a row. The average price in May was $1,377,590 - that reflects an increase of 8.7% since December.

(Source: TRREB Market Watch)

Strong Markets in Aurora, Newmarket and EG

In Aurora the average price climbed from $1,371,925 in April to $1,418,397 in May (+3.4%). While in April 84 homes have sold in Aurora, there were 102 transactions reported in May. On a year-over-year basis the price level is almost back to where it was in May 2022.

In Newmarket the average price in May ($1,248,269) was even 4.8% higher than last year ($1,190,498). We can safely say that "Market Bottom" is now in the rear view mirror.

Similar to Aurora, the increase in East Gwillimbury compared to the previous month was 4%. The average price for a house in May was $1.390,174.

Sales are 24.7% up

Throughout Toronto and the GTA, Realtors have reported a total of 9012 Sales through the MLS System; 24.7% more than last year in May (7226). The average price of $1,196,101 is pretty much back to where it was one year ago ($1,210,372).