Market Update

Buyer’s Upbeat on Choice

The selection remains high for Buyer’s looking for a place to call home in Aurora.  At the end of September, 2 months of inventory remained available to keep up with continued demand.

September average home values for all home types that were sold registered at just under $1,116,000 an increase of 5.9 per cent since September 2016.  The median value for all home types reduced by 6.18 per cent to $880,000.   Real Estate Sales continued at a slow pace in September with 46 homes sold; 5 less homes than in August and 64 per cent less sales occurred than this time in 2016.

The number of days on the market for homes for sale rose to 28 days, a spike of over 180% since last year.  When reviewing statistics from 2015 in Aurora the days on market was 23 and in 2014 it was 27 days on average and so the increase in time to sell is not new for York region and Aurora specifically.

There were 235 homes placed on the market in September, 310 remained for sale at the end of the month.  Supply continues to be way up and Buyers have been taking their time and more caution when placing offers to purchase and taking advantage of the more balanced market.

 

-written by Connie Power

Connie Power is a Real Estate Sales Representative CNE® SRS® ABR® SRES®, Mentors and Develops New Real Estate Sales Representatives for RE/MAX Hallmark York Group Realty Ltd.,  Brokerage serving York region and beyond in the Greater Toronto Area (GTA).
EmPOWERing YOU in Real ESTATE, Call Connie today to make an appointment to discuss your next move at (905) 726-0856.

*The statistics provided herein were obtained from the Toronto Real Estate Board; Regional Housing Market Tables; York Region, Aurora for September 2014, 2015, 2016 and 2017.

***Not intended to solicit those currently under a real estate contract.