One of the most interesting and important indicators of attractiveness of different neighbourhoods for investment and general family living is a comparison between the community now and how it was in the previous year for the same time period. The following figures come from the Toronto Real Estate Board "Community Housing Market Report York Region: Newmarket, Summerhill Estates."
3rd Quarter 2013
3rd Quarter 2014
Average Home Price
Days On Market
Average Sold Price to Listing Price
From this chart it is easy to see that Home Sales decreased by 6 from 54 in 2013 to 48 in 2014. The Average Home Price has gone up by $23,873 during the same time period with the Dollar Volume down by $1,687,056. New Listings are down by 15 and Active Listings are the same at 17. The Average Sold Price To Listing Price has remained constant at 99%, while the Average Days On the Market has increased by 5 for the same period, which is still quite good for home sellers.
Increase / Decrease
Summerhill Estates is another great Newmarket neighbourhood for increasing the value of real estate holdings. Homes sales have dropped slightly as the inventory of homes has remained fairly constant. This level of inventory has helped keep the home values up as more people vie for less inventory of homes. Sales of detached homes and freehold townhouses remain at the top of the desired sales types. It is apparent that the housing market remains strong compared to other countries, and with an interest rate that remains relatively low, the Summerhill Estates, Newmarket real estate market should continue to prosper along with other markets in York Region.
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purchase, sale and lease of real estate as part of a cooperative selling system. Canadian Real Estate Association Last Updated: 11/14/2019 11:26:00 PM