Prices still up 30% and more - March Real Estate Market Report

The average price for a home in Aurora this March was 30.7% higher than 12 months ago. While in March 2020 Aurora Home Prices averaged $991,785, they've now increased to $1,296,477. 188 homes have sold, which is twice as much as last March (97), when COVID-19 stalled the market temporarily. Although we're noticing more inventory, less multiple offers and the market softening a little, March prices were still slightly higher than what they were in February ($1,238,894).

Newmarket balancing out, all-time High in East Gwillimbury

In Newmarket, prices have been the same in the past two months (March: $1,098,826 / February: $1,098,354). The average price for a detached home is now $1,234,623. Similar to Aurora, prices are up on a year-over-year basis by 31.2%.

The average price in East Gwillimbury is $1,180,537. This is the highest ever and up by 35% compared to last year.

Strong Prices throughout the GTA

For the third straight month of 2021, record home sales continued across the Greater Toronto Area with buyers taking advantage of favourable borrowing costs - something that could change in the near future given yesterday's announcement of potentially tighter mortgage stress test rules. 15,652 Sales at an average price of $1,097,565 (+21.6%) were reported on the Toronto Regional Real Estate Board in March.