The summer months are typically quiet in the real estate world but lower borrowing costs have continued to drive sales.
In July, Markham saw 555 total sales, almost 15% more than the same period last year and year-to-date, total sales are up by 14%. While average prices have dipped a little over the past couple of months, they remain very strong and up more than 15% over July of 2014.
According to the Toronto Real Estate Board President, Mark McLean, home ownership demand has not only been driven by low borrowing cost but by a strong economy in the GTA with low unemployment. He says that home buyers remain confident in the long-term benefits of owning a home.
Check out July’s real estate statistics below.
Markham Real Estate Sold Statistics During July 2015
- The average sale price in July was $797,313. Up 15.2% over the same month last year.
- The average sale price to date this year is $800,318. Up 13% over last year.
- The average time it took for a house to sell was 18 days compared to 16 days the month prior and 20 days last July.
- There were 555 total sales last month. Up 14.7% over the same period last year.
- So far this year, we have seen 3388 sales. That’s up 14% over the same timeframe from last year.
- There were 898 new listings last month. That’s an increase of 20.7% and a sale to new listing ratio of 61.8%
- The month prior, the sale to new listing ratio was 63.4%
- So far this year, new listings are up 12.8% over the same timeframe from last year.
- The average sold price for detached homes last month was $1,081,019 with 249 homes sold.
- The average sold price for semi-detached homes last month was $685,112 with 57 homes sold.
- The average sold price for townhomes last month was $648,772 with 55 homes sold.
- The average sold price for condo apartments last month was $365,485 with 100 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.
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