Prices have balanced at high level - March Real Estate Market Update

After increasing significantly in February, Real Estate prices have remained at a high level in March.

The average price in Aurora was $1,447,477, which is slightly higher than in February (+0.2%) and 0.5% lower on a year-over-year basis. The number of homes sold (85) was up 20% compared to February (71).

In Newmarket the average price in March ($1,168,851) was down 2.4% compared to February ($1,235,545), but Sales were up by 31% (March: 113 / February: 86).

The average price in East Gwillimbury ($1,287,250) was 7.1% down on a year-over-year basis, Bradford ($1,112,293) was slightly up (+0.54%).

Prices and Sales up in York Region

In all of York Region the average price increased by a little (+0.8%) compared to the previous month and sits now at $1,334,655. The number of Sales went from 1043 to 1250 (same like March 2023).

(Data Source: TRREB Market Watch)

Throughout Toronto and the GTA the average sale price for all types of homes combined was $1,121,615. That's 1.3% higher than last year. Sales on the other hand were slightly down (Mar '23: 6868 / Mar '24: 6560).

More Q1-Sales than in 2023

All in all we've seen a strong first quarter of 2024. Sales in all areas of the Toronto Real Estate Board in the first 3 months of the year (16,347) are up 11% compared to 2023 (14,750).

If you have any questions or if you are interested in finding out what your home could be worth in the current market, please don't hesitate and reach out anytime or click the link HERE, I'm looking forward to talking to you.

Have a great rest of your week. Kind regards,

Vincent Bongard

***not intended to solicit any Buyers or Sellers currently under contract with a Brokerage***