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Century Heritage Houses   Neighbourhood Amenities
Central Newmarket York Region   Central Newmarket York Region
 

 

In order to understand the attractiveness of the Central Newmarket neighbourhood for buyers and sellers, it is necessary to compare the present market to a previous one. In this case the fourth quarter statistics of 2014 are compared side-by-side to the fourth quarter statistics of 2013 from the Community Housing Market Report York Region, Newmarket, with with the increase or decrease in results in the right hand column.

 

Central Newmarket 4th Quarter 2013 4th Quarter 2014 Increase/Decrease
House Sales 36 51 +15
Average Home Price $361,871 $440,949 +$79,078
Dollar Volume $13,027,350 $22,488,379 +$9,461,029
New Listings 44 56 +12
Active Listings Inventory 24 20 -4
Average Days On Market 25 24 -1
% Of Sold Price To Listing Price 98% 98% 0

 

Home sales in 2014 increased to 51 from 36 in 2013, and the Average Home Sale Price increased on average by $79,078. At the same time there were 12 more New Listings in 2014 and 4 fewer Active Listings, and the price per home went up along with a total Dollar Volume increase of $9,461,029. Surely, the desirability of the neighbourhood helped keep the prices from falling too much, but continually low interest rates also helped in this regard with the sale price. During the same period, the Average Number of Days on the market decreased  from 25 in 2013 to 24 in 2014 which is allright for home sellers. The Percentage of Sold Price To Listing Price remained the same at 98% in 2014. The majority of Central Newmarket real estate sales came from detached homes and condominium apartments as shown below with breakdown by type. This desirable neighbourhood is another indicator of the strength of the overall Newmarket Housing Market.

 

Type Number of Sales 2013 Number of Sales 2014 Increase/Decrease
Detached 20 38 +18
Semi-Detached 0 0 0
Freehold Townhouses 0 1 +1
Condo Townhouse 3 1 -2
Condo Apartment 13 11 -2

 

This is another example of Real Estate as a Great Investment. At present there is relatively low risk with excellent chances of increasing the value of your own estate. With homes selling close to full listing price in a relatively short length of time, Central Newmarket continues to be strong in York Region real estate and a great investment despite the reduction in sales. Our strong economy should continue with this neighbourhood helping to lead the way.

 

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