Newmarket Home Sales Statistics

There seems to be a fair demand for Sale to active listing statistics in Newmarket, Ontario. In September the sales volume in Newmarket did decrease relative to August however the level of competition is still very balanced.

88 of the 300 active Newmarket listings sold in September 2006 with the majority of the homes being detached houses.

Along with the strong sales volume there were some increases in price over last year, but not as much as some might have hoped for. The average detached home sold for only $5,438 coming up to $387,077. The median home price for detached homes in Newmarket for September was $364,500 which would indicate that there were a few homes that sold significantly higher than the average price range.

Semi detached home's, in Newmarket, average sale price was $265,107 which is up from last year's $247,667. The median home price for the semi detached homes was $271,500 which indicates that there were several homes sold well below the average price. This reflects some of the activity in the dog patch.

Both the Average and median sale prices for Condo townhouses decreased slightly over last year but sales volume was up 66%.

So what should we expect in the near future? So far Newmarket is still seen as an inexpensive town with great services and transportation for commuters. This should keep the Newmarket real estate markets fairly strong. The big question will be what is going to happen in Aurora and Richmond Hill, because if those markets start seeing decreases in prices then that will erode Newmarket's affordability advantage and location may become the bigger factor in the eyes of buyers.

So far the Toronto Real Estate Board is stating that the first half of October has seen good sales volumes compared with last year which bodes well for the markets in general, but we will have to see what the final numbers are when they get published at the end of the first week of November.