$3,998,000 - 197 Sherwood Place, Newmarket
Detached for Sale in Newmarket
70 days on market- MLS Number
- N12738104
- Property Type
- Detached
- Status
- active
- Days on Site
- 70
- Bedrooms
- 5
- Bathrooms
- 7
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Newmarket
- Lot Size
- 1 sqft
- Listing Brokerage
- KELLER WILLIAMS REFERRED URBAN REALTY
This exceptional custom-built luxury residence set on over an acre of private land is just minutes from downtown Newmarket.Finished in all-natural Quebec sandstone, this architectural home features a private triple driveway and rare four-car tandem garage with custom built-in storage. The grand foyer showcases marble and metal inlay flooring with soaring arched cathedral ceilings. Wide-plank white oak floors, bespoke millwork, and designer lighting flow throughout. The main level offers a heated mudroom with five custom coat closets and a private guest suite with walk-in closet and 4-piece ensuite. The chef's kitchen is designed for entertaining, featuring dual islands, quartz countertops, custom cabinetry with frosted glass accents, pantry and servery, and premium Thermador appliances including a six-burner range, dual wall ovens, and integrated fridge and freezer. Walk out to a covered loggia with ceiling fans and outdoor TV for year-round enjoyment. Upstairs includes a full laundry room and four spacious bedrooms, each with a walk-in closet and private ensuite. The primary retreat offers a private deck, custom walk-in closet, and spa-inspired ensuite with heated floors, steam dual rain shower, and soaker tub. The walk-out lower level features radiant heated floors, floor-to-ceiling windows, sauna, glass-enclosed gym, second kitchen and dining area, and access to a covered patio. Smart home features include Sonos speakers, motion lighting, central vacuum, dual-zone HVAC, hot water on demand, and steam humidifier.
Estimate your monthly payments for this property
Estimated Payment
$17,684.50/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Newmarket
Newmarket is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Newmarket
- •Convenient location in Newmarket
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Newmarket offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
197 Sherwood Place, Newmarket
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $800/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 70 days on site, this property has exceeded the typical selling timeline for Newmarket. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Newmarket are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 5,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Newmarket.
Bathroom Count Matters
With 7 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.