By Nikolay Klyushkin | October 29, 2026
September didn’t bring the fall bounce many people were hoping for. It brought a quieter market, more competition among sellers and room for buyers to compare their options. But the regional average only tells part of the story. If you’re buying or selling in Newmarket or East Gwillimbury, the local numbers matter much more than a GTA headline.
Here’s what the latest September figures tell us—and how the Bank of Canada’s October 28 rate decision changes the conversation.
York Region: more choice and softer prices
Across York Region, there were 893 sales in September at an average price of $1,136,650 and a median of $1,043,000. Sellers brought 3,106 new listings to market, while 5,168 listings were active at month-end. Homes that sold averaged 97% of their final asking price after 38 days on market.
York’s reported months of inventory was 5.0 on a 12-month trend basis. That is different from dividing September’s active listings by that month’s sales, which produces about 5.8 months. Either way, buyers had plenty to compare. York’s MLS® Home Price Index composite benchmark was down 6.5% from a year earlier. See the York Region summary of TRREB’s September figures.
Across the GTA, TRREB reported 5,040 sales, down 9% from September 2025. The average selling price was $1,006,409, down 5.1%, while new listings fell 14.4% year over year to 16,500. Fewer listings and fewer sales can happen at the same time. The balance between them—and the competition for a particular type of home—matters when deciding how to price or negotiate.
Newmarket: look beyond the headline average
Newmarket recorded 64 sales at an average price of $915,986. That was down 8.6% from September 2025 and 12.6% from August. But an average combines very different properties. With only 64 sales, a change in the mix of homes can have a meaningful effect on the result; it does not tell us that every home lost the same amount of value.
The median sale price was $872,500. The MLS® HPI composite benchmark was $959,500, down approximately 9.0% year over year. The benchmark models a representative home and is useful for comparing trends, but it isn’t an appraisal of any particular property.
The September averages by property type also show why comparing like with like matters:
- Detached: $1,055,125 across 36 sales
- Semi-detached: $833,750 across 8 sales
- Freehold townhouse: $778,889 across 9 sales
- Condo townhouse: $671,000 across 5 sales
- Condo apartment: $535,120 across 5 sales
Those categories account for 63 of the 64 reported sales, so the total includes another sale outside this breakdown. Several categories have very small samples. Newmarket had 234 new listings and 331 active listings at month-end. Homes sold in an average of 33 days and at 97% of final asking price. The reported 12-month inventory trend was 4.2 months. See the September property-type breakdown.
For a homeowner wondering what this means, the practical answer starts with the homes a buyer would compare with yours today: similar properties, in a similar location and condition, including both recent sales and current competition.
East Gwillimbury: a different mix and a smaller sample
East Gwillimbury recorded 33 sales at an average price of $1,090,748 and a median of $980,000. Its composite benchmark was approximately $1,097,500, down about 9.5% year over year. There were 133 new listings and 222 active listings at month-end. Homes that sold averaged 98% of final asking price and 38 days on market.
Detached homes accounted for 25 of those 33 sales, averaging $1,182,268. That heavier detached mix helps explain why the town-wide average is higher than Newmarket’s, although location and individual property features matter too. East Gwillimbury’s 12-month inventory trend was 5.4 months. One or two sales can shift the average noticeably in a market this small. See the local market data and benchmark.
There is also a local policy change to watch. East Gwillimbury’s certified election results show Scott Crone was elected mayor, with 5,390 votes to Brian Johns’ 4,709. Council decisions on growth and housing will matter to the town over time, but an election result alone does not predict what will happen to home prices.
What the Bank of Canada rate increase means
On October 28, the Bank of Canada raised its overnight policy rate from 2.25% to 2.50%. The decision followed September’s housing data, so its effect is not reflected in those sales figures.
If you have a variable-rate mortgage or a home equity line of credit, ask your lender how a change in its prime rate affects your rate and payment. With a fixed-rate mortgage, your existing contract rate generally stays the same until renewal; rates on new fixed mortgages are influenced by bond yields and lender pricing. If you have a pre-approval, check its terms with your lender or mortgage broker before assuming your budget has changed.
Buying a new home? Check the Ontario rebate rules
Ontario’s enhanced new housing rebate is not a blanket HST rebate for every purchase. According to the Canada Revenue Agency, it can provide eligible buyers combined provincial HST relief with the existing Ontario new housing rebate, up to $80,000. The home generally must be a new or substantially renovated primary residence for the buyer or a qualifying relation, and value limits and other conditions apply.
For a builder purchase, the agreement generally must be entered into between April 1, 2026 and March 31, 2027, with additional construction and payment deadlines. Owner-built homes have different conditions. Ask your lawyer, builder or tax adviser how the rules apply before relying on a rebate in your budget.
What this means for buyers and sellers
Buyers: There are options to compare and often room to negotiate, but a 97% or 98% average is not a promised discount. Those figures compare sold prices with final asking prices and individual results vary. Get your financing reviewed after the rate announcement, watch comparable sales and be ready when the right home appears.
Sellers: Buyers are comparing your home against what is available now. Prepare it well, review competing listings and price using recent comparable sales rather than last year’s headline average. Town-wide numbers are a useful starting point, but they can’t replace a street-level assessment.
If you’re considering a move, read our guide to the costs of selling in Newmarket or our comparison of Newmarket and East Gwillimbury.
Thinking about buying or selling? Contact Nikolay and Tatiana or call 647-833-3287. We’ll help you understand the numbers that matter for your home and your plans.
Market data: TRREB Market Watch, September 2026, as reported by the sources linked above. Statistics cover all home types unless otherwise noted. Monthly sales figures are small and may be revised. Market conditions and mortgage rates can change.