Markham Housing Market Heating Up!

Planning to buy or sell a home in Markham?  The Markham housing market is quickly heating up!  Check out the latest housing stats for February 2015.

 

Markham Real Estate Sold Statistics During February 2015

• The average sale price in February was $758,929.  Up 13% over the same period last year.
• The average sale price to date this year is $740,547.  Up 4.6% over the same period last year.
• The average time it took for a house to sell was 21 days compared to 27 days the month prior and 24 days last February.
• There were 303 total sales last month.  Up 7.8% over the same period last year.
• So far this year, we have seen 492 sales.  That’s 100% on par with the same timeframe from last year.
• There were 492 new listings last month.  That’s an decrease of 4.5% and a sale to new listing ratio of 61.6%
• The month prior, the sale to new listing ratio was 44.2%
• So far this year, new listings are up 4.3% over the same timeframe from last year.

• The average sold price for detached homes last month was $1,066,246 with 132 homes sold.
• The average sold price for semi-detached homes last month was $680,490 with 20 homes sold.
• The average sold price for townhomes last month was $595,857 with 41 homes sold.
• The average sold price for condo apartments last month was $369,285 with 60 units sold.

While new listings had a strong start to the year, we saw a decrease in new listings in February (compared to last year) and a healthy increase in total sales.  We’ve started to see market conditions tighten up and prices have continued to rise.  Much of this recent activity was likely fuelled by the recent drop in mortgage rates and I believe market conditions will continue to heat up rather quickly.

If you’re planning to sell your home in the near future, NOW would be the best time to get your home on the market as you wouldn’t have too much competition and buyers are out there in full force.  To get a quick idea of your home’s value, please visit my online evaluation page and if you have any questions, contact me anytime!