Newmarket’s housing market continued its cooldown in November as the average home price dropped to $953,743—down 6.6 per cent from October and 10 per cent compared to a year earlier, according to the Toronto Regional Real Estate Board. Sales slowed sharply, with only 60 transactions after an average of 29 days on the market, marking a 34.8 per cent year-over-year decline. At the same time, active listings climbed to 304, a 39.4 per cent increase that further signals a shift toward a buyer’s market.
Detached homes averaged $1.06 million, falling 8.2 per cent month-over-month and 13.6 per cent annually, while semi-detached homes saw a monthly uptick to $849,417 despite being down year-over-year. Attached homes averaged $848,353, slightly higher than in October but notably lower than last year, and townhouse-style condos dropped to $722,250.
Apartment-style condos were the exception, jumping 47.3 per cent month-over-month and 22.8 per cent annually, though on very low sales volume. Despite the recent correction, prices remain significantly higher than a decade ago: since 2015, average home values in Newmarket have risen more than 50 per cent across all housing categories.
