*Updated January 18, 2018*
How has your neighbourhood stacked up against the rest of Markham and Stouffville in recent years?
Below, you’ll find the average sold prices for detached homes, semi-detached, townhomes, condo apartments and condo townhouses in Markham and Stouffville, broken down by neighbourhood. You’ll also find the percentage change from year to year as well as a cumulative total to help you spot the trends. If you’d like to know how the neighbourhoods in Markham are divided, click the neighbourhood page.
It’s important to notice that some of the house types are not prevalent in certain neighbourhoods and some neighbourhoods don’t have a high sales volume for certain house types and have been marked accordingly. Sales averages in these categories tend to be a little more volatile.
For reference, the average house price in 2017 for the city of Markham as a whole, was $1,069,085 which is an average increase of 94.7% since 2011 and a healthy jump of 10.9% over 2016.
Certain neighbourhoods are naturally more expensive than others based on certain factors including:
Size (Square Feet)
The size of the home is one of the most important factors that will determine its value. With all things being equal, a 3000 sq.ft. home will always be worth more than a 2000 sq.ft home. In Markham, the neighbourhoods with the largest homes, for the most part are Cachet, Cachet Woods, Jenning’s Gate Estates, Angus Glen, Rouge River Estates & Unionville.
The property that a home sits on is another huge factor when examining the price of a house. More land equals more money. Simple as that. In Markham, as well as in most municipalities, the larger lots tend to belong to the more mature neighbourhoods such as Bullock, Old Markham, Markham Village, Sherwood Estates, Unionville and of course Cachet and Jenning’s Gate which are full of estate properties.
School rankings also play a major role on house prices in any given neighbourhood. If you take a look at the latest school rankings in Markham for both elementary schools and secondary schools you’ll notice many correlations between the neighbourhoods with top ranked schools and the average house prices in those locations. Berczy Village and Angus Glen are prime examples of neighbourhoods that contain many of the “top” ranked schools but there are plenty of great schools to go around.
You’ve heard it a million times before but I’ll say it again: Location, location location! While the previous factors are extremely important, this one might trump them all. Certain areas are simply more desirable than others and buyers are simply willing to pay more to live in a certain neighbourhood. Much of the time that will come down to school districts but also include easy access to highways, public transportation, proximity to local shops, restaurants and parks, etc.. Some buyers might also choose a location based on a perceived status or lifestyle they might associate with living in that neighbourhood.
There are, of course, many other factors that might contribute to house prices and you can read a few of them from an older post called How to Choose A Neighbourhood In Markham
Anyhow…..here are the stats!
If you’d like to be kept up to date on the latest neighbourhood stats, simply fill out the form below and I’ll do the rest! If you have any specific questions about a certain neighbourhood or you’re thinking about buying or selling a house in Markham or Stouffville and would like to discuss your situation, please contact me anytime or get a No Hassle Online Evaluation of your home. I’d love to help!
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