Over the past 12 months, price trends in Newmarket have shown some volatility with a noticeable year-over-year dip. The latest average price in January 2025, at approximately $1,059,814, is lower than January 2024's average of around $1,130,770, reflecting a modest decline despite long-term appreciation indicated by the HPI trends — a 1-year decline of 1.28% contrasted with robust 5-year and 10-year gains of 49.77% and 114.3%, respectively. This mixed picture is compounded by varying monthly performance, which suggests that while prices have generally appreciated over the long haul, buyers and sellers should be mindful of short-term adjustments likely influenced by market cycle factors and external economic conditions.

Recent supply and demand dynamics further underscore these nuances. The data reveal a lower sales-to-new listings ratio in January 2025 of about 24.48 compared to peaks in earlier months, alongside an increase in months of inventory (MOI) to approximately 5.57, which in combination with an average days on market (DOM) of 33, suggests a relatively cooling market. In a competitive market, lower MOI and shorter DOM typically drive up prices, but the current elevated MOI and declining ratio indicate that buyer demand is not keeping pace with available listings. For real estate agents, this means advising clients—especially sellers—to set realistic expectations and possibly adjust listing strategies in a market where pricing may soften before stabilizing and potentially rebounding in the long run.

Read the full article on: Toronto Regional Real Estate Board