The homes in Cornell enjoyed large gains in 2014 led by a 14.4% price gain with semi-detached homes. Detached homes and townhomes also jumped significantly… on par with real estate gains for the City of Markham as a whole. So what’s in store for 2015? Nobody can say for sure but if total inventory and interest rates continue to stay low, prices will continue to flourish. However, many experts expect rates to increase at some point this year which would surly slow things down a bit. If you’re in the market to sell or buy a new home this year, keep an eye on those 2 factors. On the flip side, if your mortgage is due for renewal this year, you might want to consider locking in early.
Cornell Markham Sold Statistics – 2014
- The average sold price for detached homes in Cornell was $676,094. A 12.5% increase over 2013.
- 147 detached homes were sold in 2014 compared to 120 in 2013
- The average time it took for a detached home to sell in 2014 was 17 days compared to 22 days in 2013.
- The average sold vs asking price was 100% compared to 99% in 2013.
- The average sold price for semi detached homes in Cornell was $533,664. A 14.4% increase over 2013.
- 74 semi-detached homes were sold in 2014 compared to 75 in 2013
- The average time it took for a semi-detached home to sell in 2014 was 11 days compared to 17 days in 2013.
- The average sold vs asking price was 101% compared to 100% in 2013.
- The average sold price for townhomes in Cornell was $506,733. A 12.2% increase over 2013.
- 123 townhomes were sold in 2014 compared to 132 in 2013
- The average time it took for a townhome to sell in 2014 was 15 days compared to 20 days in 2013.
- The average sold vs asking price was 101% compared to 99% in 2013.
If you’re planning to buy or sell a home in Cornell this year and would like to discuss your personal situation, please contact me anytime! Alternatively, if you simply have questions about the market, just let me know.
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