The Markham real estate market continues to show strength with regards to house prices increasing once again in June to an average of $640,616 as compared to $631,409 in May. From the chart below, you can see that prices have been on fire since January.
The average days on market, meaning how long it actually takes a home to sell, remains steady at 18 days despite much more inventory being available as compared to the spring market. Active listings are down just slightly from May but remain at healthy levels, at 976 active listings, with approximately 51.5% of those listing being sold last month.
All of these numbers represent somewhat of a balanced market with roughly half of the current inventory being sold, yet prices have continued to rise and days on market has remained steady. While I don’t think that prices in Markham will drop on a year over year basis, I expect that we will see monthly fluctuations over the coming months and it might be a great time to sell whille prices are peaking and buy something in the next few months as there’s a good chance we might see a dip in prices.
If you have any questions about your specific situation and would like my opinion, feel free to call me anytime at 416-995-5542 or send me an e-mail at [email protected]
