Newmarket Home buyers and Sellers

08/07/2024

Everyone wants to put their stamp on their living space, decorating to reflect their personal style.

Everyone wants to put their stamp on their living space, decorating to reflect their personal style. That’s easy enough when you own your home or condo, but how can you pull this off when you are living in a rental? These longtime renters have simple tips on how to personalize your place, so it fe...

03/01/2024

First you'll want to calculate the break-even point on a potential mortgage refinance, which is when the savings from refinancing exceed the costs.

The break-even point on a mortgage refinance is the point at which the money you save with the new mortgage outweighs the closing costs you paid to get it. It's essentially the number of months before the refinance puts money in your pocket.

09/02/2022

SO GOOD We Have to do an encore!! THIS SATURDAY, one last ZUMBA Class at the Newmarket Farmer’s Market bright and early at 8:00am! Normally we end in August but we figured why not one more to make up for lost time! Come out and get fit.

12/07/2020

.ca

11/14/2020

MARKET REPORT for the month of October 2020

For the month of OCTOBER 2020

Okay, so here we are again already! It is a strange dichotomy when Covid makes 2020 feel like the longest year of our lives, while the real estate market seems to turn months into what feels like only weeks.

We are up again, and I feel like a broken record for the past four months. Year over year in the GTA we have seen an average price growth of over 13%, and this includes the plummeting condo market. Strip that away and you are left with some really impressive numbers. If you think that is nuts, take a look at some areas outside the GTA like Kitchener and Lindsay just to name a few. No doubt interest rates below 2% and the feds indicating little to no movement in rates towards the upside for possibly years to come, are certainly playing into this trend, coupled with the exodus from the city into larger accommodations.

So where does that leave our Newmarket real estate? There were 197 homes sold in the town of Newmarket across all styles and neighbourhoods in the month of October, with 22 of those sales being in the downtown historic area. The average sale price for a detached home in the area fell below the Newmarket average of $1,048,556 for the month of October but this reflects the diverse nature of the homes in the area providing a variety of high end and affordable options. The highest sale price was $1.405M, and the lowest was $542k for a detached home.

In total we saw 40 new or active listings during the month of October, ranging in valuation from $599k to $2.3M. You can check out active residential and commercial listings for the area here: http://pete-geibel.cb1.so/~t3hqy

At this time I would also like to give a shout out to my colleague Darcy Toombs, who has been crushing it lately, I would think he is running for council with so many lawn signs! Way to keep the heat on the rest of us in the business. In what amounts to a tough job, you make it look easy buddy.

On a final note I would also like to send condolences to the Playter family on the loss of their Patriarch Glenn Playter. I never got the chance to make his acquaintance but from what I have been told from others in the neighbourhood he was a great man and will be sorely missed. To Wes, Jackie, Millicent, and the whole Playter family we wish you well at this time.

Take care Main Street and until the next time please be well, and let's keep looking out for each other.

10/20/2020

For September

So ends September and another month where at the very least the real estate market said "what pandemic?"

Statistically, sales for September in the GTA were up almost 40% over last year. During this time we have seen an almost steady market increase of 1% monthly in real estate sales valuations.

With renewal interest rates tapping out below 2%, and the average household making above 100k/year actually faring better during these economic times, coupled with a strong stock market rebound, it is reasonable to expect these trends to continue, however there are many who believe what goes up must come down, I just don't find myself in that particular crowd with respect to real estate in the GTA.

So what does that mean for our corner of the world here in Historic Main Street for the month of September.

In total we had 16 listings, however few I would regard as truly historic homes, although all were in our neighbourhood. Of the 17 homes for sale including condo apartments, 9 sold firm with 2/3rd's selling over asking!

The range of value in century homes for the month was from $650k to $900k, with an average of 17 days on the market.

To view a list of currently available homes in the area:
http://pete-geibel.cb1.so/~g62bc

I hear a lot of getting used to a new norm but for Main Street where people meet, I wouldn't mind getting back to the old fashion way of doing things. Many parts of the economy are faring okay but many of our friends and neighbours are hurting, and with the new restrictions and the effective cancellation of Halloween it looks like we will be at this for a while to come.

Wear a mask, let's keep each other safe, let's keep our distance, but let's show our Main Street shops and businesses that we are here to support them. This too shall pass and Main Street will be back better than ever, let's make sure our neighbours will be here when it does.

Until the next time, stay healthy and shop local.

09/15/2020

For the month of August...

For the month of August...

So, what can I say about August? To give some perspective first, here are the stats for the GTA as a whole.

Pandemic or not, nothing seems able to slow the demand in the GTA (Toronto, York, Peel, Durham, and Halton). June and July were record breaking months for real estate in the GTA and, well, sales were up another 10% over last month, 40% over this time last year, and prices are another 20% higher than this time last year. (side note: If you think that's ride, areas of Kitchener are up 30%+ over less than a year ago).

We saw a surge in listings by 56% but then again, I would put most of this on the shoulders of the downtown condo market which is a wash in listings right now between the loss of AirBNB, as well as both domestic and foreign students attending class.

So how does our corner of world stack up...well what more can really be said other than Historic Newmarket is on tear right now.
For the month of August we had 60 active listings (including some condos) with 50% sold either conditionally or firm. No particular segment stood out, however the highest sale price for the month topped out at $1.405M with our friends from the Home Team at C21! The median sale price however was around $750k. The real indicator as we see it was the days on the market with an average of only two weeks, and of the 30 sales reported, 15 sold at or above asking with one sale selling $180k over list (and we are still waiting on a final number of 7 of those reamining sales).

For a full list of available homes in the historic district follow this link or copy and paste:
http://pete-geibel.cb1.so/~zry7c

As you may have noticed this report is a little overdue, if that gives you any indication to the start of the Fall market, Check back with us to see how September shaped up. In the meantime, be well and see you around Downtown.

09/09/2020

NEWMARKET INVESTMENT PROPERTY! Outstanding turn key investment in most sought after area of Newmarket. Choose your own tenants and rental rate. Call Pete for more details CallPete.ca

158 Prospect Street, Newmarket L3Y 3T6. Click for more photos and pricing

08/17/2020

JULY REPORT. Unbelievable...this is all that can be said for the real estate market in July. Typically a time of year when you might see a slight lull from the rush of the Spring market, nothing could be further from the truth this year. Like much of everything else, real estate is not business as usual.

Looking at month over month statistics at a time when the market was all over the map would be redundant, since everything looks better after a near total collapse in sales for the month of April this year. What is truly eye popping is a 16.9% increases year over year, and we are still in a pandemic!

Why would this be happening you might ask (and you wouldn't be the only one)? Sales were up almost 30% last month, but listings rose only 10% (give or take). Believe it or not, it's the same old story of supply nowhere near meeting demand.

So what does this all mean for our little corner of the world?

Sales in July were through the roof over previous months with entry level, downsizing, and mid range homes seeming to lead the way.

Of the 18 homes sold in the Historic district for the month of July, 13 were around $750,000 or less. Many of the few sales north of $1M consisted of multi residential homes with the exception of one beautiful home which sold for $1.5M on Sherwood Pl.

Of the total sales, a whopping 50% sold over asking showing an aggressive demand for the area.

Currently there are 5 homes remaining on the market from this time frame, showing it isn't quite a frenzy just yet. For the homes requiring a little more elbow grease or with greater expectations than buyers may be willing to levy at this time, the outcomes have not been as good. This certainly shows a level of restraint in buyers as well which is not all bad, since it would suggest the current valuations are real and not driven by hype.

Currently there are 26 great homes for sale on the market in our area and you can check them here in the link...

http://pete-geibel.cb1.so/~f8l2j

As usual, we are always here to help with all of your real estate needs. Keep safe everyone and see you around town.

06/24/2020

Latest report!

The Historic Main Street Market report for the weeks of June 8th and June 15th

So clearly things are moving in the right direction, depending on your interest in the market. What I mean is sales are ticking up, listings are ticking up, and prices so far seem to be holding. This could be different in certain markets such as downtown condos but if you are waiting for the market to drop, you may have some time to go.

Here are the stats for the past two weeks in the
Downtown Historic Main Street District...

Current listings on the market in the area: 32
**The increase is again on pace with what we have seen across the broader market jumping another 20%.

Current new listings on the market in past two weeks: 10
**This has leveled off from the previous two week period keeping pace. May saw a strong return to normal activity but still below typical levels at this time of year.

Listings terminated or suspended in the past two weeks: 3.
**Of these three cancellations only one has not yet returned to the market.

Total sales in the area over the past two weeks: 9
**This is a 300% increase over the previous two week period.

Check out what's currently for sale in the area:
http://pete-geibel.cb1.so/~ck9w6

As we move into phase two, I am seeing mixed feelings from packed patio's to parents still concerned about sending kids to school even three months from now. Even the bank of Canada can barely make a prediction for the next 6 months so what chance do most of us, who don't have a think tank working on this, really have?

What I can tell you is Main Street Newmarket is still the place to be, homes are selling, interest in certainly there. Speaking from personal experience with my listing at 409 Timothy St. we have averaged 3 viewings an hour (24hrs a day) on Realtor.ca for the past 3.5 weeks and 1/5 sales/listing ratio. Considering the market forecast is about 60% of the average activity at this time of year I would view the sales over the most recent period to look very strong for this area relative to the rest of the GTA.

Everyone stay safe in the sunshine until the next report!

Call us for more context, or reach out to us at CallPete.ca. Until the next time, be safe and look out for each other.

06/08/2020

Come and support our local farmers and merchants through these difficult times...Newmarket Farmers Market fresh pick up is available at the Magna Center...order your curb side pickup here www.newmarketfarmersmarket.com

06/07/2020

Market report for the weeks of May 24th and 31st!

The Historic Main Street Market report for the weeks of May 24th and May 31st.

AND WE ARE OFF!

I am sure at this point people are starting to notice that the market is finally starting to move.

In the past two weeks we had three listing appointments, listed 2 properties (one local and one downtown) and currently working with three buyers all of whom came online just in the past two weeks.

The Toronto Regional Real Estate Board is registering an average of 300 sales per day in the GTA and surrounding area. This is almost double the numbers in May. It was slow to start but the Spring market is definitely here now.

Here are the stats for the past two weeks in the
Downtown Historic Main Street District...

Current listings on the market in the area: 26
**Up by 10 from the previous two week period.

Current new listings on the market in past two weeks: 13
**Comparing to last two week period this is almost double over the previous period.

Listings terminated or suspended in the past two weeks: 0!
This is a sign of confidence, of all the listings on the market only two reduced their asking price.

Total sales in the area over the past two weeks: 3
**Although this number is lower than the previous two week period the value of the sales is what is eye catching considering there were both entry leve;(or what is considered entry for this area) and homes closer to $1M. Of the 4 conditionally sold homes one is asking north of $1.7M.

Check out what's currently for sale in the area:
http://pete-geibel.cb1.so/~vc3hi

Locally everything has changed, Zumba is cancelled, the playgrounds are still closed, the farmers market is now a drive through at the Magna centre and forget about Canada Day, but main Street is still alive. I couldn't help but notice the people wondering around enjoying the atmosphere that those of us who live here, have always appreciated. People are staying safe and keeping their distance but not even a global pandemic can keep people away from our little corner of the world. I guess we are no longer the best kept secret!

Everyone stay safe in the sunshine until the next report!

Call us for more context, or reach out to us at CallPete.ca. Until the next time, be safe and look out for each other.