The real estate market in Newmarket, Ontario, saw some significant developments in February 2025. Whether you’re a homeowner, buyer, or investor, here are the top five things you need to know about the local real estate trends this past month.
1. Inventory on the Rise
Newmarket's housing inventory continues to grow, with 219 active listings at the end of February. This is a substantial increase compared to previous years:
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156 listings in 2024
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101 listings in 2023
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104 listings in 2022
This marks the highest active listing count for February since 2019, when there were 291 listings. The surge in inventory is not unique to Newmarket; it’s a trend seen across the York Region.
Inventory Breakdown:
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21 Townhomes
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25 Condo Apartments
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24 Condo Townhomes
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135 Detached Homes
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14 Semi-Detached Homes
2. Sales Volume at Historic Lows
Home sales in February were particularly weak, with only 68 transactions reported. This is the fewest number of February sales in 30 years, dating back to 1995.
Despite the increase in inventory, the Months of Inventory (MOI)—which measures how long it would take for current listings to sell at the current sales pace—stood at 3.22 months. While this is an improvement from January’s 5.28 MOI, it remains consistent with the average for 2024.
Sales Breakdown:
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8 Townhomes
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4 Condo Apartments
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4 Condo Townhomes
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45 Detached Homes
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7 Semi-Detached Homes
3. Housing Prices & Market Segments
Despite sluggish sales, prices remained relatively stable. The average home price in February was $1,163,057, with the following segment breakdown:
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Townhomes: $950,000
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Condo Apartments: $564,000
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Condo Townhomes: $808,000
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Detached Homes: $1,330,000
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Semi-Detached Homes: $877,000
Price Segmentation:
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2 sales exceeded $2,000,000
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11 of 68 sales were over $1,500,000
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50% of sales were between $1,000,000 and $1,500,000
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35% of sales were under $1,000,000
4. Notable Sales Trends
While the overall market was slow, 28 of the 68 homes sold at or above the asking price. Notably:
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5 of the 11 homes that sold for over $1.5M went above asking.
This indicates that while buyer demand is lower, well-priced homes in desirable areas are still attracting competitive offers.
5. Market Outlook & Projections
Looking ahead, inventory is expected to continue rising, which could put downward pressure on prices. Historically, the period from March Break to the May long weekend is a popular time for homeowners to list their properties. If this pattern holds, buyers may have more choices in the coming months.
Key Takeaways for Buyers & Sellers
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Pricing Matters More Than Ever: Buyers are less concerned with what sellers paid for a home and more focused on current affordability and value.
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Move-Up Buyers Need a Strategy: If you're upgrading to a new home, consider how you structure your offer, including whether to go conditional.
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Budget-Conscious Buyers Should Sell First: If finances are tight, selling before buying may be a safer option to avoid unexpected financial stress. However, this may limit choices, particularly for those with kids in school or existing mortgages.
The real estate market is shifting, and success depends on preparation and strategy. Whether you're buying or selling, staying informed about market trends and pricing strategies is essential in 2025.
