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I was born and raised in Newmarket and am now raising my own family in this fantastic growing community. I love living and working in York Region – such a thriving area! It has been my privilege to help many families buy and sell their homes in many of the fantastic towns throughout the region, including Markham, Aurora, and Newmarket.

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Real Estate Market August Stats

Tags: Stats, York Region, Homes for Sale

Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,357 home sales through TREB's MLS® System in August 2017. This result was down by 34.8 per cent compared to August 2016.

The number of new listings entered into TREB's MLS® System, at 11,523, was down by 6.7 per cent year-over-year and was at the lowest level for August since 2010. "Recent reports suggest that economic conditions remain strong in the GTA. Positive economic news coupled with the slower pace of price growth we are now experiencing could prompt an improvement in the demand for ownership housing, over and above the regular seasonal bump, as we move through the fall," continued Mr. Syrianos.

The average selling price for all home types combined was $732,292 – up by three per cent compared to August 2016. This growth was driven by the semi-detached, townhouse and condominium apartment market segments that continued to experience high single-digit or double digit year-over-year average price increases.

The MLS® Home Price Index composite benchmark, which accounts for typical home types throughout TREB's market area, was up by 14.3 per cent year-over-year in August. The fact that MLS® HPI growth outstripped average price growth, points to fewer high-end home sales this year compared to last. "The relationship between sales and listings in the marketplace today suggests a balanced market. If current conditions are sustained over the coming months, we would expect to see year-over-year price growth normalize slightly above the rate of inflation. However, if some buyers move from the sidelines back into the marketplace, as TREB consumer research suggests may happen, an acceleration in price growth could result if listings remain at current levels," said Jason Mercer, TREB's Director of Market Analysis.

Here is a breakdown of York Region's August Stats.
  York Region - Aug 2017    
    Sales Avg Price New Active Days S/P MOI*
  Detached 479 $1,199,335 1,351 2540 32 96% 5.3
Semi-Detached 72 $774,149 126 176 28 98% 2.44
Condominium Townhouse 51 $591,590 91 128 28 98% 2.5
Condominium Apartment 157 $464,529 313 446 24 98% 2,84
Link 21 $945,071 56 85 27 101% 4
Att/Row/Townhouse 150 $787,564 280 388 26 99% 2.58

To find out the stats in your specific area of York Region, contact Grace Simon today:
Call (905) 953-6926

*MOI: Months of Inventory
(This number tells you how many months it would take for all the current homes for sale on the market to sell, given a monthly sales volume.)

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