The real estate market in East Gwillimbury witnessed some intriguing trends in August 2023, as reported by the Toronto Regional Real Estate Board. Here’s a closer look at the data and what it means for both buyers and sellers in the area.
Deep Look at East Gwillimbury House Market Update August Data
Average Home Prices: The average price for a home in East Gwillimbury settled at $1.37 million in August 2023. While this figure represents a slight dip of 2.1 percent or $30,085 compared to the previous month, it’s essential to note the broader perspective. In a year-on-year analysis, August 2023 saw a significant uptick of 7.4 percent or $93,914 compared to August 2022. This suggests a healthy and resilient market in East Gwillimbury.
Sales and Listings: There were a total of 32 home sales in August, with homes spending an average of 22 days on the market. At the end of the month, there were 121 active listings, marking a 15.2 percent increase compared to the same period the previous year. This rise in listings could provide more options for prospective buyers.
Detached Houses: Detached houses, a popular choice in East Gwillimbury, averaged $1.44 million. While this figure reflects a month-over-month decrease of 5.8 percent or $87,981, it’s important to highlight the substantial year-over-year increase of 4.4 percent or $60,575. With 27 detached house sales and an average of 24 days on the market, this segment remains robust.
Semi-Detached Houses: Semi-detached houses averaged $1.09 million, with a notable month-over-month decrease of 5.6 percent or $64,333 and a year-over-year drop of 3.1 percent or $35,000. Only one semi-detached house was sold in August, spending just five days on the market. With six active listings at the end of the month, it’s a segment worth watching for potential buyers.
Attached Houses: Attached houses recorded an average price of $1 million, showcasing month-over-month growth of 3.2 percent or $31,472. The year-over-year surge is even more impressive, standing at 12.6 percent or $112,472. This segment observed four sales, with homes spending an average of 10 days on the market. With 12 active listings at month-end, attached houses present a competitive option.
Long-Term Trends: When compared to August 2013, the average sale price for all houses and condos in East Gwillimbury has seen a remarkable increase of 153.5 percent. Detached houses have witnessed a substantial gain of $872,127, while semi-detached houses and attached houses have also experienced significant increases of $647,500 and $679,472, respectively. Townhouse-style and apartment-style condos have shown steady figures.
In summary, while there may have been some fluctuations in the East Gwillimbury real estate market in August 2023, the broader trend is one of growth and resilience. Buyers can explore a variety of housing options, while sellers may benefit from the overall appreciation in property values. As the market continues to evolve, it’s crucial to stay informed and work with knowledgeable professionals to make the most of these opportunities in East Gwillimbury’s dynamic housing market.
