Newmarket Active Listings showing Middle-sized Homes have least Inventories ! Mid-Nov Market Update
Today it’s Nov 16th, Newmarket got the first snow and accumulated 2 inches thick on the ground in the morning but melted very soon in the afternoon. When we see winter really coming lots of people wonder how’s real estate market react. Let’s get into the numbers
Where are we now?
For the first half of Nov 2022, 35 units were sold at average price 1.07million per unit. New listing is 72 units and we are in the Balanced Market with Sale to Listing ratio of 52%.
It seems market didn’t change much comparing with Sep and Oct.
Active Listing are getting 10% less, which is seasonally normal, Some Seller prefers to take their listings off market in winter and Christmas season.
To Buyers Winter is always a good time to find some Deals. Let’s see what’s in the inventories. Please note we were still running into low inventory time, there were only 1.5 month of inventory at end of Nov,2022
Among 5 home types, the middle-sized home including Row house, Semi-detached and condo townhouse has the least inventory, with 1 month of inventory, Detached home has 1.4 months of inventory, Apartment has 2.5 month of inventories.
12 Units Rowhouse with 1.05 month of inventory
91 Unit Detached homes with 1.43 MOI
13 Unit Condo Apart with 2.52 MOI
7 Unit Condo Town with 1.2 MOI
10 Units Semi Detached with 0.77 MOI
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