Signs of a moderate softening - April Real Estate Market Report

Although prices are still staggeringly up on a year-over-year basis, the numbers have slightly started to decline in April. The average price in Aurora was $1,278,021. This is 39.7% higher than last year, but a little lower than in March ($1,296,477). Almost the same amount of homes have sold in April (190) as in March (188). This is clearly a significant increase compared to April 2020, the first full month of the Pandemic, when only 43 houses sold.

In Newmarket prices are up 33% year-over-year. The average price for a home in April was $1,079,704. Like in Aurora, prices dipped a little bit (-1.75%) compared to March ($1,098,826). The average price for a detached home in Newmarket is $1,211,819.

East Gwillimbury still booming

No slowdown so far in East Gwillimbury where the average price of $1,253,831 reflects a new all-time high and a 43% increase compared to last year. April prices were also 6.2% higher than what they were in March ($1,180,537).

Less Sales in Toronto and GTA

Throughout Toronto and the GTA, a total of 13,663 home sales were reported through the MLS System of the Toronto Regional Real Estate Board (TRREB). This is a new record for the month April, but a 12.7% decrease compared to March. The average selling price for all types of homes combined was $1,090,992 and up 33% on a year-over-year basis, but basically flat relative to March 2021 ($1,097,565).