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Martin MacFarlane: Markham Real Estate Agent | Homes For Sale

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How’s The Markham Real Estate Market Doing? July 2014

July 16, 2014 By Martin MacFarlane Leave a Comment

The month of June showed slight signs of cooling down as compared to previous months but overall, the market has continued to show strong gains on a year over year basis.  It is not uncommon for the summer months  to slow down a bit as most of us start to enjoy the warmer weather and longer weekends.  However, don’t confuse a slight slow down with a slow market.  Let’s take a closer look!

The average price of a house sold in Markham during June was down slightly from its peak in May.  The average selling price in June was $712,070.  When compared to the average sold price during June of 2013 which was $656,700, we are up by 8.4%.  Detached homes are up 13%, Semi-detached houses are up 10.7%, townhomes are up 11% and condo are up by 4.1%.  On a year-to-date basis, we are up more than 12% with all housing types combined.  Any way you look at it, the market is doing well.

Average Sold Prices in Markham - June 2014Markham average price June 2014

Comparing total sales volume vs available inventory, you’ll notice that sales are just slightly lower and total inventory is up a bit as compared to the month of May.  The ratio of sold listings vs total inventory currently sits at 57%, a very strong number.  That very same ratio last June was only 45% by comparison.  Once again, strong sales vs less available inventory has fuelled increased prices and these trends will likely continue through the end of the year.

 

Average Days On Market in Markham - June 2014Sold vs Active Markham listings - June 2014

If you’ve been thinking about making a move this year and are ready to take the next steps,  feel free to give me a call at 416-995-5542 or leave your contact info below and we can discuss an appropriate strategy for your current situation.

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