Market Conditions Tightening In Markham

While the market in Markham is no where near the piques of 2016, we have seen a slow but steady increase in prices since January as compared to a slow but steady decrease in 2018.

In fact, the average sale price in September was up over a million dollars which we haven’t seen over the course of a single month since October of 2017.

So far this year, house prices are averaging 2% higher as compared to last year, which isn’t a huge number, but we are certainly trending upward as the moment. This can be attributed, in part, to rising consumer confidence and a decrease in new available listings.

It’s also worth noting that recently, TREB ceo stated “Statistics Canada’s most recent national population estimate represented the highest twelve
month population increase ever recorded. This growth was driven by immigration, of which the GTA was likely a key beneficiary due to its strong regional economy and diversity.”

Check out the latest housing sales statistics for Markham from September 2019 below.

Markham Real Estate Sold Statistics During August 2019

• The average sale price in September 2019 was $1,005,148.  Up 12% over the same month last year.
• The average sale price to date this year is $938,002.  Up 2% over last year.
• The average time it took for a house to sell was 24 days compared to 27 days the month prior and 29 days last September.
• There were 345 total sales last month.  Up 39.7% over the same period last year.
• There were 753 new listings last month.  That’s a decrease of 0.5%.
• The total months of inventory was 2.6 compared to 3.4 the month prior.

• The average sold price for detached homes last month was $1,285,156 with 168 homes sold.
• The average sold price for semi-detached homes last month was $850,994 with 20 homes sold.
• The average sold price for townhomes last month was $863,735 with 45 homes sold.
• The average sold price for condo apartments last month was $606,954 with 75 units sold.

If you’re planning to make a move, contact me anytime! 

To get a quick idea of your home’s value, please visit my online evaluation page and if you would like to create a customized market report, including sales of recent homes in your neighbourhood, create a customized neighbourhood market report.