"Spring Market" in Fall - October Real Estate Market Report

Real Estate Prices in our area keep rising month by month. When traditionally Spring is the hottest season for Real Estate, a look back on how prices have increased over the last 6 months illustrates that houses have never sold for more money than this Fall.

Prices in Aurora and Newmarket up by 10% since April

The average home price in Aurora in October was $1,415,299 - that's a new Record and 10.7% higher than in April. On a year-over-year basis the prices in Aurora are up by 34.5% (October 2020: $1,052,457). As mentioned in our previous Updates, the main reason for those high prices is a real shortage of homes for sale. Only 75 new listings came up in October in Aurora, while a total of 112 Sales were reported. Supply can't keep up with demand currently, hence we're seeing a very strong Seller's Market.

In Newmarket prices between April and October of this year were also up 10.7%. The average price for a home in October was $1,194,896 (also a new record). Compared to last year, prices are up 30.5%. A detached home in Newmarket costs now $1,342,702 on average.

All time high Prices also in Bradford and East Gwillimbury

Prices in East Gillimbury are up 35.5% on a year-over-year basis, from $998,901 last October to $1,353,625 this year; a new record, just like in Bradford where the average home price climbed to $1,146,625. This reflects a 31.7% increase compared to last year (October 2020: $870,349).

Throughout Toronto and the GTA Realtors reported 9783 Sales through the MLS System - 737 more than in September, but 6.9% less on a year-over-year basis. The average price for all types of homes combined is $1,155,345 - up 19.3%.