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Newmarket Housing Market Report

By Patrick Ross · Reviewed By Jacob Norris · Last Updated December 4, 2024
Newmarket housing market report

Newmarket housing market overview

  • The average home price in Newmarket was $1,059,916 — a -0.92% year-over-year decrease.
  • The median home price in Newmarket was $993,500 — a 2.42% year-over-year increase.
  • The average detached home price decreased -0.89% year-over-year to $1,228,108
  • The semi-detached home price increased 4.21% year-over-year to $898,185
  • The condo townhouse home price increased 4.49% year-over-year to $963,564
  • The average condo apartment home price increased 16.76% year-over-year to $648,000

Table of contents

Average home price trends

The average home price across all property types in Newmarket was $1,059,916. Home prices have decreased -0.92% year-over-year compared to the average home price of $1,069,704 the prior year. The average home price across all property types saw a -1.59% month-over-month decreased from the average home price of $1,077,014 the prior month. Here is how the average home price has changed across property types.

Read More: Toronto (GTA) Home Prices

Property Type Average M/M Y/Y
Detached $1,228,108 +0.95% -0.89%
Semi-Detached $898,185 -0.65% +4.21%
Condo Townhouse $963,564 -3.01% +4.49%
Condo Apartment $648,000 +9.7% +16.76%

Important Market Metrics

Sales

Total sales in Newmarket were 92 which is a 64.29% increase from 56 sales the prior year. Here is how the sales are broken down by property type:

  • Detached: 51 — a 59.38% Y/Y increase
  • Semi-Detached: 10 — a -9.09% Y/Y decrease
  • Condo Townhouse: 14 — a 100% Y/Y increase
  • Condo Apartment: 9 — a 350% Y/Y increase

Inventory

The housing inventory this month is 2.6 months which is up from 2.7 months of inventory the prior month and 2 months the prior year. Housing inventory this month is much higher than the historical 5-year average which is 0 months of inventory.

Listings

Newmarket had total new listings of 133 which is a -9.52% Y/Y decrease and -27.72% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Newmarket was 47.6% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

All property types

The highest historical average home price in Newmarket was $0. The highest historical median home price was $0.

Stat August 2024 Y/Y Change
Average Price $1,059,916 -0.92%
Median Price $993,500 +2.42%
Sales 92 +64.29%
New Listings 133 -9.52%
Active Listings 218 +3.81%

Single-family detached home prices in Newmarket

Stat August 2024 Y/Y Change
Average Price $1,228,108 -0.89%
Median Price $1,223,000 +7.28%
Sales 51 +59.38%
New Listings 74 -17.78%
Active Listings 123 +4.24%

Semi-detached home prices in Newmarket

Stat August 2024 Y/Y Change
Average Price $898,185 +4.21%
Median Price $902,500 +3.97%
Sales 10 -9.09%
New Listings 17 +0%
Active Listings 19 -17.39%

Condo townhouse prices in Newmarket

Stat August 2024 Y/Y Change
Average Price $963,564 +4.49%
Median Price $950,000 +3.26%
Sales 14 +100%
New Listings 19 -9.52%
Active Listings 19 -24%

Condo apartment prices in Newmarket

Stat August 2024 Y/Y Change
Average Price $648,000 +16.76%
Median Price $625,000 +12.61%
Sales 9 +350%
New Listings 9 +12.5%
Active Listings 25 +56.25%

Other housing market reports across the greater Toronto area:

Toronto

Halton Region

Peel Region

York Region

Durham Region

Dufferin County

Simcoe County

source: TREB