Newmarket market report · November 2024
Newmarket housing market: November 2024
Newmarket housing market in November 2024: $1,059,916 average sale price (down 0.9% year over year), 92 homes sold, 2.6 months of supply — a balanced market. Figures from the Toronto Regional Real Estate Board.
What happened in Newmarket in November 2024
Newmarket recorded 92 sales in November 2024, 64.3% more than the same month a year earlier. Sellers brought 133 new listings to market, leaving 218 properties in inventory — 3.8% more than a year ago. At the month's pace of sales that is 2.6 months of supply, which puts Newmarket in a balanced market. 48% of the month's new listings sold.
The average sale price across all property types was $1,059,916, down 0.9% year over year and down 1.6% on the month. Detached homes averaged $1,228,108 against $648,000 for condo apartments — the gap that decides which side of the $1.5 million insured-financing cap a purchase here falls on.
The two years to November 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory |
|---|---|---|---|---|---|
| Detached | $1,228,108 | -0.9% | 51 | 74 | 123 |
| Semi-detached | $898,185 | +4.2% | 10 | 17 | 19 |
| Row / townhouse | $963,564 | +4.5% | 14 | 19 | 19 |
| Apartment | $648,000 | +16.8% | 9 | 9 | 25 |
| All types | $1,059,916 | -0.9% | 92 | 133 | 218 |
Source: the Toronto Regional Real Estate Board, Newmarket, November 2024.
What this means if you're buying in Newmarket
Market conditions shape the negotiation; your income, debts and the stress test decide what you can actually borrow. Most purchases here fall comfortably under the insured cap, which makes the sliding-scale down payment genuinely useful: 5% of the first $500,000 plus 10% of the balance means a million-dollar purchase needs $75,000 rather than $200,000. If you are buying with less than 20% down, remember the insurance premium is added to the mortgage rather than paid up front, and factor that into the payment you are budgeting for rather than being surprised by it at signing.
Read the full Newmarket area guide, compare it with the wider GTA market, or run your numbers and start an application.
Buying in Newmarket?
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