Newmarket Real Estate Trending...

With the volatile world right now, some wonder how the real estate market is holding up and locally, in Newmarket and Aurora, those concerns are no different. Real estate has even been part of some of the fodder for incumbents on Aurora council which recently passed a motion towards the possible creation of new biting by-law to combat absentee property owners. Watch for that developing down the line!

Ont's official plan calls for more housing around transit stops

Here's some current trends that will either put you at ease or cause alarm bells for you depending on your outlook or expectations.

In the past month, well 28 days, there have been 222 houses added to new listings in Newmarket while 89 homes sold in that same time-span with an average of 33 days on the market before selling!

BUT you ask, did they get their selling price? Well, 97% was the selling to listing price ratio in the past 28 days!

There do seem to be a couple odd trends emerging from some of the stats such as:

• A 2 bedroom detached homes sold for an average of $575 k 6 months back whereas a 4 bedroom home decreased from 955K to 874K a drop of 15% 
• A 5 bedroom house sold for $1 million 3 months ago and now in July, Aug it's $1.4 million - a whopping 34% jump!

Overall, listed detached house list price's are down 10% from 6 mos ago across Newmarket while in Aurora the average house sold for $918K up 7.8% in the last month.

So? Now you know! What are you waiting for? Get listing, renting, selling or buying!

TP Out.