Stronger Numbers - February Real Estate Market Report

There are some signs that our local Real Estate Market in York Region is warming up a little. On March 6th the Bank of Canada has left its benchmark rate unchanged for the second times this year and it seems that buyers feel more confident to purchase again.

The average home price in Aurora this February was $939,253, which reflects a 1.5% increase compared to February 2018. The Median Price went from $760,000 to $790,000 (4% increase). Compared to the average price in January ($852,428), the prices are up 10% - but in a small market where 40-60 homes sell per month, I advise caution to fully rely on the average, as a single big sale can impact this number significantly. For example, this February 50 homes have sold in Aurora, the highest was $3,200,000 (215 Heathwood Hts), the lowest $325,000 (1 bedroom apartment on 160 Wellington).

In Newmarket prices are up too. From $744,316 in February 2018 to $792,418 in February 2019 - that's an increase of 6.5%. Of the 79 homes that sold last month in Newmarket, 57 are detached homes. The average price for a detached home was $875,434.

In East Gwillimbury prices are at the same level as they were one year ago. The average sale price of a home this February was $773,832 - this reflects a decline of 0.5%.