Newmarket bucked regional trends slightly, with an uptick in sales activity and a jump in average prices in February compared to the previous month, according to the latest numbers from the Toronto Regional Real Estate Board.
Sales activity in Newmarket saw a month-to-month bump in February, going from 35 sales to 63 in February, while average prices also jumped up by more than $100,000, going from $1,059,814 in January to $1,185,427 this past month.
Jeffrey Graves, a sales representative with Royal LePage Your Community Realty, said Newmarket “tends to be its own market” when compared to Aurora, with the sales increase potentially due to the town’s price’s being a little more “buyer-friendly.”
“Newmarket tends to have - it's just something about crossing that line and then Newmarket, some of the prices are a little more buyer-friendly, I guess you would say,” added Graves. “Prices in Newmarket tend to differ from Aurora. And some people that want to buy, they'll go that little bit further, cause it's really all attached from the 407 all the way up.”
However, both sales and average prices were down compared to February 2024, with 85 sales and an average price of $1,230,610 this time last year in Newmarket.
While average prices were up, prices in Newmarket decreased year-on-year by 2.64 per cent compared to the composite MLS Home Price Index price of $1,191,700 in February.
New listings were up slightly, going from 143 to 146, while active listings also jumped from 195 to 218 active listings in February. That means new listings are down slightly compared with February 2024, when there were 155, but up active listings are up, compared to that month, when there were 131.
Aurora market
The average price of a house sold in Aurora dropped by more than $300,000 in February compared to the previous month, according to the latest numbers from the Toronto Regional Real Estate Board.
The average price dropped from $1,501,173 in January to $1,147,807 in February. There was both a dramatic drop month-to-month and when comparing with this time last year, when the average price was $1,454,030.
The median price was also down markedly, from $1,235,000 in January to $1,070,000 this past month. That’s also lower than the median from February 2024, which was $1,313,500.
Sales activity remained low as the winter slowdown continued. There was a slight increase in sales in February compared with January, with 26 sales in the first month of the year versus 31 in February. That is lower than February 2024, when there were 70 sales.
Graves said some buyers may be sticking to the sidelines for now, as the kick-start of the spring market in February did not materialize this past month.
“In only the last few years, January and February were busy because everyone wanted to get ahead of the spring market, but traditionally in years past before that, January, February tended to be calmer months before things took off in April and May,” said Graves.
Of those sales, 16 were detached homes, with six condo townhouses and four condo apartment units sold in February. Those 16 detached homes went for an average price of $1,369,587 this past month, versus an average of $1,758,975 across 44 sold detached homes in February 2024.
The median was also down significantly, at $1,377,500 compared to $1,607,500.
Dylan Silbernagel, a sales representative with Keller Williams Realty Centres, pointed to that drop in sales activity, as well as the increase in active listings for detached homes — which almost doubled, going from 64 in February 2024 to 120 this past month — as “why there is a softening in median price.”
“The story of 2025 so far has been one of big increases in active inventory and declines in sales volume, which has lead to downward pressure on prices as buyers have more choice and bargaining power,” said Silbernagel in an email. “That was very evident in the Aurora detached market for the month of February.”
New listings were also up month-to-month, from 95 in January to 110 new listings in February. In February 2024, there were 125 new listings. The market continued to be well stocked, with active listings increasing from 146 to 186 in February. That's a big jump from 2024, when there were 103 active listings in February.
Prices in Aurora also decreased year-on-year by 1.58 per cent compared to the composite MLS Home Price Index price of $1,361,500 in February.
While sales activity is down, Silbernagel said he’s seen a “big uptick” in buyers visiting Aurora open houses.
“The most desirable properties are still selling fairly quickly and at times in multiple offer situations,” added Silbernagel. “For sellers, getting your pricing right is more important than ever.”
“The continued cutting of interest rates will help buyers with affordability from the lending side,” he added. “The Aurora detached segment currently sits at over seven months of inventory. While this number could shift in the coming months, current indicators suggest we’re unlikely to swing back in the other direction any time soon.”
GTA housing market
Across the Greater Toronto Area, sales were down 27.4 per cent year-on-year, going from 5,562 in February 2024 to 4,037 this past month. Sales did increase slightly month-to-month, with 3,847 homes sold throughout the GTA in January.
The real estate board’s president, Elechia Barry-Sproule, said higher mortgage rates are likely fuelling the relative annual slowdown in sales, while the board’s chief market analyst, Jason Mercer, said uncertainty with the economy, fuelled by U.S. tariffs, is likely to have an impact.
“On top of lingering affordability concerns, home buyers have arguably become less confident in the economy,” Mercer said in a news release. “Uncertainty about our trade relationship with the United States has likely prompted some households to take a wait-and-see attitude toward buying a home. If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half of this year.”
Average prices did increase slightly, going from $1,040,994 in January to $1,084,547. February’s figure was down by 2.2 per cent compared to February 2024, when the average price was $1,108,720.
The MLS Home Price Index Composite benchmark was down by 1.8 per cent year-over-year in February 2025.
“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to consider from a policy perspective when it comes to housing,” board chief executive officer John DiMichele said in a news release.
“Not only do existing policy-makers and those vying for high public office need to make clear their direction on housing supply and affordability, but they also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction will go a long way to strengthen consumer confidence.”