"Newmarket Real Estate Market Update: November Sees Decrease in Average Sale Price but Increase in Number of Properties Sold"
The real estate market in Newmarket for all property types saw a decrease in the average sale price from $1,077,014 in October to $1,059,916 in November, representing a 1.6% decrease month-over-month. However, compared to November of the previous year, the average sale price decreased by 3.1%. The number of properties sold also decreased from 79 in October to 92 in November, indicating a 9.1% increase month-over-month. The average days on market increased from 26 days in October to 33 days in November, suggesting a slower pace of sales. The sales price to list price ratio remained steady at 99% for both months, indicating a balanced market between buyers and sellers.
The market in Newmarket continues to show signs of stability with a slight decrease in average sale prices and an increase in the number of properties sold. The decrease in average sale prices may be attributed to seasonal factors and a slight increase in days on market, indicating a more balanced market for buyers. The sales price to list price ratio remaining consistent at 99% suggests that sellers are pricing their properties competitively, leading to successful sales transactions. Overall, the market in Newmarket for all property types remains healthy with moderate price fluctuations and steady sales activity.
Read the full article on: Toronto Regional Real Estate Board
