Newmarket Market Update: Price Softening Amid Growing Inventory
The latest data shows a notable softening in Newmarket’s home prices over the past year. The average sold price in April 2025 stood at approximately $1,127,400, down from around $1,177,375 in April 2024, with the HPI registering a one-year decline of 7.33%. Although long‐term trends over five to ten years remain strong, the recent monthly figures indicate short-term downward pressure. This decline is underscored by other HPI parameters with a 1–3 month drop of about 1.44–2.17%, suggesting that while overall home values have appreciated over the long haul, current price fluctuations may reflect a temporary cooling period in the market.
Market supply and demand dynamics further support the notion of a softening environment. In the most recent months, the balance between new listings, active listings, and properties sold has shifted noticeably. With sales numbers modest relative to increased new listings and active inventory—April 2025 reported 66 sales, 248 new listings, and 340 active listings—the result is a higher months of inventory (5.15) and longer average days on market (36 days). These indicators point to a less competitive market where buyers have more negotiating power, while sellers may face longer waits. As a result, real estate agents can advise clients to be prepared for a more buyer-friendly market in the near term, with the possibility of price stabilization or further softening if current trends continue.
Read the full article on: Toronto Regional Real Estate Board
