December 2, 2019

Great November Sales signs of a busy 2020?

November had 130 sales reported for the month, of all property types. To put that into context, that is only 4 fewer sales than November 2016 which was the build up to the last market peak.

Not only was is a great month for number of sales, but the average sale price was up $821,167, the highest average sale price of the year, and a 17% increase over the average sale price in November 2018 ($697,452).

  • November 2010: 103 Sales / $377,053 avg price
  • November 2011: 103 Sales / $424,183 avg price
  • November 2012: 97 sales / $439,781 avg price
  • November 2013: 106 Sales / $492,873 avg price
  • November 2014: 80 Sales / $542,427 avg price
  • November 2015: 124 Sales / $636,405 avg price
  • November 2016: 134 Sales / $819,927 avg price
  • November 2017: 102 Sales / $824,585 avg price
  • November 2018: 86 Sales / $697,452 avg price
  • November 2019: 130 Sales / $821,167 avg price

We are expecting the strong fall/winter market to lead into a very strong early spring market with the sales really starting to take off in February, as we are holding a low level of inventory with a ‘months of inventory’ factor of 1.42 months. (This figure demonstrates how many months is would take to sell off all the current active listings).

I will be preparing a more detailed analysis of the market in the coming days, and will release some more commentary soon to keep you informed on what is happening with the Newmarket real estate market.

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Posted by dtoombs at 6:36 AM

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