Newmarket Houses 2015 2nd Quarter Report 

Including: Newmarket Woodland Hill, Glenway Estates, Summerhill, Bristol London, Central, Armitage, Huron Heights, Gorham-College Manor, and Stonehaven Wyndham


 
Newmarket Real Estate 2015 2014 Difference
House Sales 598 528 + 13%
Homes Average Price $611,791 $528,724 + 16%
New Listings 783 780 + 1%
Active Listings 162 232 - 30%
% of Final Sales Price to Listing Price 101% 99% + 2%
Days on Market 14 17 - 18%
 
Sales Average Price Detached New Listings Actual Listings Days on Market % Sold Price vs. Listing Price
Woodland Hill 105 $643,759 131 20 17 100%
Glenway Estates 24 $748,555 39 5 15 102%
Summerhill Estates 86 $582,917 113 18 13 102%
Bristol London 62 $552,935 94 21 12 101%
Central Newmarket  92  $484,989 120 31  17  100%
Armitage  26  $618,346  208 7  13   101% 
Huron Heights  45  $552,926 49 8  13  103%
Gorham - College Manor  71  $547,955 79 16  12  100%
Stonehaven - Wyndham  87  $820,640  130 36  15  100% 

Sales in Newmarket for the 2nd quarter of 2015 were again very strong. The sales and prices of homes increased dramatically over 2014 2nd quarter. Sales and prices continued to increase over the same period of last year. Inventory was up but due to the quick sales in the market we ended the quarter down in regards to active listings.

The sales in Newmarket grew by 13% over the same period last year this was one of the greatest increases in TREB. There were 598 properties sold compared to 528 last year and we saw sales double over 1st quarter of 2014. Prices grew 16% over last year to close to $612,000 average. At this time last year homes had just broken the $525,00 mark. Inventory of new properties was very strong up by 1% over last year but because properties sold so fast we were down by 30% of the active listings by the end of the quarter. Newmarket is still an area that 1st time buyers can afford and we are seeing homes sell very fast in this area.  Sellers were getting over 101% of their asking price and most homes sold in less than 3 weeks.

Overall it was a very strong quarter for Newmarket and we only see positive signs in the near future. One thing is very certain is if you are debating on selling your home in the near future get it on the market now as we have no clue as to how long the interest rates will remain low. As we see interest rates rise their is a high probability that we will see the possibly of lower value to homes. Luxury homes in Newmarket contbued to be strong especially in the area of Stonehaven - Wyndham.

<