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Own a home in Newmarket? Find out what's happening in the detached home marketplace! (June 2018)

Thursday, July 12th, 2018 at 10:50am Allison Parent

 

The detached home market in Newmarket remained BALANCED in June 2018, with 4.3 months of inventory.  This figure is below the 5.6 months of detached home inventory recorded throughout all of York Region in the same time period.

Of course, the determination of what a "balanced" market is can vary by region, but most experts agree that markets holding 4-6 months of inventory can be considered balanced, while those with more being considered a Buyer's market, and those with less than 4 months of inventory being considered a Seller's market.

Detached home sales volumes are still relatively low, with considerably higher inventory levels than we have seen in several years.  Subsequently, detached home values appear to be stabilizing, after reaching their peak in early 2017.  The average sold price of a detached home in Newmarket was $899,968 in June.

 

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