Even though it doesn’t feel like it yet, spring is in the air and the Markham real estate market is on fire! Average sale prices not only continue to rise, but they continue to rise at a double digit pace. Sale prices were up almost 17% when compared to March of last year. Total sales were up by more than 20% while new listing were only up by 3% creating a ton of competition between buyers. When comparing total sales vs active listings, the ratio was 93.4% which blows all previous months in recent years out of the water!
If you’ve been thinking about selling your home, there really hasn’t been a better time than now. March was a crazy month and I expect the same to continue throughout April as the weather finally heats up (hopefully). As is the case in most years, though, new active listings will surely increase as the spring turns to summer and sellers will likely have more competition. But for now…the market is amazing for sellers so give me a call and let’s get your home listed!!!
Check out the latest Markham real estate statistics for March 2016 below.
Markham Real Estate Sold Statistics During March 2016
- The average sale price in March was $932,834. Up 16.9% over the same month last year.
- The average sale price to date this year is $892,997. Up 11.2% over last year.
- The average time it took for a house to sell was 15 days compared to 20 days the month prior and 15 days last March.
- There were 558 total sales last month. Up 20.1% over the same period last year.
- So far this year, we have seen 1,209 sales. That’s up 26.9% over the same timeframe from last year.
- There were 866 new listings last month. That’s an increase of 3% and a sale to new listing ratio of 64.4%
- The month prior, the sale to new listing ratio was 68%
- So far this year, new listings are up 8.7% over the same timeframe from last year.
- The average sold price for detached homes last month was $1,296,155 with 268 homes sold.
- The average sold price for semi-detached homes last month was $768,979 with 33 homes sold.
- The average sold price for townhomes last month was $734,949 with 64 homes sold.
- The average sold price for condo apartments last month was $374,242 with 110 units sold.