Newmarket posts steady August as Aurora slips into deeper slowdown
The housing market in Newmarket held firmer than its neighbour Aurora through August, even as the wider Greater Toronto Area posted a modest dip in sales and a sharper decline in new listings, according to Toronto Regional Real Estate Board (TRREB) figures and local brokerage reports.
TRREB reported 5,057 home sales across the GTA in August, a 2.1 per cent decline from a year earlier, while new listings fell 14.1 per cent to 12,075. Locally, the contrast between Newmarket and Aurora is stark: Aurora recorded just 49 home sales in August — the lowest August total in the available record dating back to 2010 — while Newmarket recorded 79 sales.
Local brokers say those numbers matter because they change the balance of power between buyers and sellers. Newmarket’s sales held roughly level with July and last August — 79 in August compared with 81 in July and 77 a year earlier — even as active listings fell from 354 in July to 308 in August. That translated into an improved months-of-inventory figure for Newmarket, which moved to 3.95 from 4.37 the month before.
By contrast, Aurora’s market weakened markedly. Sales dropped from 61 in July and 56 in August of last year to just 49 this August. Time on market stretched: homes sold in Aurora took an average of 44 days to sell, and the median selling time climbed to 37 days, up from 27 days the previous August. Months of inventory climbed from 4.13 in June to 6.40 in August, leaving more supply relative to current demand.
“Fewer listings only help sellers if buyers keep showing up,” said Matthew Gizzie of Keller Williams Realty Centres.
That observation captures the key dynamic. In Aurora, the detached segment softened most sharply: detached sales fell from 37 in July to 23 in August, while detached inventory rose to 7.36 months. The median time to sell a detached house reached 43 days. Those indicators point to a market where sellers may need to adjust expectations on price and marketing timeframes.
For Newmarket buyers and sellers, the numbers suggest a more balanced market. An inventory level near 4 months is commonly read as neither a strong seller’s market nor deep buyer advantage; it generally allows for reasonable negotiation on both sides while keeping transactions moving. For sellers, the drop in active listings could support prices if buyer activity continues. For purchasers, steady sales and slightly reduced listings mean there is still competition for desirable properties.
Local real estate activity is shaped by several factors beyond the raw monthly figures: mortgage rates, broader GTA employment trends, and seasonal shifts into fall. The TRREB-wide decline in new listings (down 14.1 per cent) suggests that fewer homes are coming to market, which can temper downward pressure on prices if demand persists. However, the diverging local stories in Aurora and Newmarket show how municipal-level conditions can differ even inside the same commuting zone.
- GTA sales (August): 5,057 (-2.1% year-over-year)
- GTA new listings (August): 12,075 (-14.1% year-over-year)
- Newmarket (August): 79 sales; active listings 308; months of inventory 3.95
- Aurora (August): 49 sales; months of inventory 6.40; detached inventory 7.36 months
| Metric | Newmarket (Aug) | Aurora (Aug) |
|---|---|---|
| Sales | 79 | 49 |
| Active listings (end of month) | 308 | — |
| Months of inventory | 3.95 | 6.40 |
| Average days to sell (where reported) | — | 44 |
For Newmarket council, businesses and residents, the practical implications are immediate. Sellers in Newmarket may still find buyers without the prolonged marketing required in Aurora; real estate professionals will watch whether the supply dip holds through the fall or rebounds as more homeowners list. For Aurora, longer selling times and higher months of inventory suggest sellers should be prepared for slower sales and possibly price moderation unless demand resurfaces.
As markets transition into the fall, the local variations underscore that municipal-level data matters. Prospective buyers and sellers in Newmarket would do well to consult local agents familiar with neighbourhood-specific trends rather than rely solely on region-wide headlines.
