28 homes sold at or above asking, proving that the right price still drives demand. Strategic Pricing Wins in a Shifting Market
February’s sales data reveals key trends in pricing and buyer behavior across Newmarket. The average sale price for all home types reached $1,163,057, with detached homes commanding the highest average at $1.33M. Townhomes sold at an average of $950,000, while condo townhomes and condo apartments averaged $808,000 and $564,000, respectively. These figures highlight the clear price gap between housing segments, with detached homes maintaining a premium and condos o ff ering more a ff ordable entry points into the market.
Breaking sales down by price range, nearly half of February’s transactions fell within the $1M–$1.5M range, reinforcing the strong demand for mid- market homes. Only 11 of the 68 sales closed above $1.5M, with just two exceeding the $2M mark, indicating a slower pace for luxury sales. Meanwhile, 35% of sales were under $1M, showing continued activity in the lower price brackets. Despite an overall slowdown in sales volume, certain properties still attracted competitive interest. A total of 28 homes sold at or above asking
price, including five of the 11 properties that sold over $1.5M. This suggests that while buyers are cautious, well-priced and desirable homes continue to move quickly. Sellers looking to maximize their sale price must consider market conditions carefully—homes that are priced too aggressively may sit longer, while those positioned strategically are still seeing strong o ff ers. In a market with rising inventory and fewer buyers making moves, pricing and presentation remain the key factors in achieving a successful sale.
Data provided by The Habistat's Analytics Platform, in partnership with PropTx. Data subject to change.
Want the full market story in a few minutes? This quick video covers everything from record-low sales to rising inventory and shifting buyer activity in Newmarket. WATCH THE MARCH MARKET UPDATE
Market update video
SCAN ME
Visit NewmarketReport.ca
Page 8
Made with FlippingBook - professional solution for displaying marketing and sales documents online