Sales have picked up, Prices stable - March Real Estate Market Report

The Spring Market is in full gear and it's no surprise that sales have increased from February to March. However, considering that in Aurora in February only 50 homes have sold and now 94 in March, is a strong sign that our local market is improving. The average price for a home in Aurora this March ($844,420) was pretty much the same like in March 2018 ($852,166), so is the Median Price (2018: $782,450 / 2019: $782,250).

In Newmarket the average home price in March 2019 ($774,390) dropped 2.2% compared to March 2018 ($792,418). However, significantly more homes have sold in March this year (123 versus 79). And compared to February 2019 ($748,940), the average price in March ($774,390) is up 3.4%.

East Gwillimbury (avg $743,755) is 3.8% down compared to last year's March ($772,945). But the Median Price is up (2019: $710,000 / 2018: $693,000), which in a smaller market is often the more reliable indicator. Sales are up as well: 48 homes have sold in East Gwillimbury in March 2019 versus 32 only in March 2018.

With interest rates staying stable and some new incentives offered to Buyers by the Government (although not as significant as we were hoping), I expect the market to slowly bouncing back.