The GTA housing market remains hot in 2021 with increasing sales and rising prices, including in York Region, a new report from RE/MAX states.
The average price of a single detached home in Newmarket was $1,213,706 from January to June of 2021, which is up 28 per cent from the same time last year.
East Gwillimbury is was among the top 10 GTA markets for price appreciation. There the average price of a single detached house was $1,301,817 for the first half of 2021, up 36 per cent from the same time last year.
The report also found that home buyers are flocking out of the city.
“More transit options and hybrid work schedules have made relocation to the city’s outlying areas even more attractive,” said Christopher Alexander, senior vice-president of RE/MAX Canada. “First-time buyers are feeling the squeeze but are still determined to become homeowners, with many happily travelling further afield to make it happen while working from home. The beneficiaries of the trend have been suburban communities in Durham, Peel, Dufferin County and the most northern part of York Region.”
In York Region, unit sales more than doubled from 2020, increasing by 109.6 per cent.
The biggest increases were in East Gwillimbury and Georgina, where new home construction contributed to a rise in real estate sales.
In East Gwillimbury the number of sales was up 145.3 per cent with 444 units sold from January to June 2021, compared to 181 in the first half of 2020.
In Georgina, there was an increase of 90.4 per cent with 710 units sold in 2021 versus 373 in 2020.
Here are the average prices for a single detached home across York Region, from January to June of 2021:
- Georgina: $861,902
- Newmarket: $1,213,706
- East Gwillimbury: $1,301,817
- Whitchurch-Stouffville: $1,470,315
- Aurora: $1,526,622
- Markham: $1,669,339
- Vaughan: $1,705,408
- Richmond Hill: $1,792,958
- King: $2,179,739