Market Watch: April 2019 | GTA Real Estate Insights | RE/MAX All-Stars Benczik Kavanagh Real Estate Team Skip to Content
On The Blog

Market Warms Up With The Weather

Posted By: Rachel Kavanagh

April 3, 2019

Market Warms Up With The Weather – The month of March saw Greater Toronto Area Realtors report a total of 7,187 sales. The number of sales is nearly the exact number from March 2018 where it was 7,188. Month over month March had a 43% increase in sales over February. During the month of March, the City of Markham had the largest number of transactions at 300, while the Town of Whitchurch-Stouffville completed a total of 55.

The average home price for all home types in the GTA continues to show increases year over year. March 2019 saw the average sale price for all home types increase by 0.5% to $788,335. When we compare the average sale price of February 2019 to March 2019, we notice a 1.1% increase in the GTA.

The average sale price for all properties in Markham decreased by 0.48% ($892,744), while Stouffville saw its average sale price increase by 7.8% ($934,459). The less expensive and higher density low-rise home types continue to drive price growth within the GTA.

Overall, new listings in March were up by 42% over last month to 13,996. This suggests that the spring has arrived, and sellers are excited to have their home on the market.

With three months completed in 2019, the luxury home market continues to operate at a different level than the rest of the Greater Toronto Area. As of April 1, there have only been two sales of luxury homes in Markham. The first at $3.26 million and the other at $3.08 million. In Stouffville, there have been zero sales for luxury homes.

What Does It All Mean?
2019 continues to have an uncanny resemblance to 2018. The month of March showed that everything from sales to listings is following the same path as 2018. The warmer weather we received in March help perk up the spring market and help buyers come off the sidelines and back into the market.

There are other factors to consider throughout the year such as the OSFI stress test, which is having its effect on home buyers by making it difficult to qualify for a mortgage. Also, the ongoing discussion regarding interest rate hikes or even a rate relief is something to closely monitor. Should the next few months follow the same pattern as 2018, then April, May, June will show similar strong results to March.

Market Warms Up With The Weather written by Benczik Team Realty. 

For more information on your home, visit our website and get a free home evaluation to ensure you get the best seller’s service! With experience around Markham, Stouffville, Unionville, and all of York Region, Benczik Team Realty works to serve you in the best way possible! Act now, and don’t miss out on this ever-growing market.


Get in Touch

Contact Benczik Kavanagh Real Estate Team

We’re ready to answer your questions, provide you with much-needed resources, and help you take the next step in your real estate journey.


    Cut Straight to the Facts

    Get the most accurate market information, the latest MLS listings, and other need-to-know updates delivered to your inbox once a month. No spam or unwanted emails, guaranteed.

    Our Real Estate Newsletter