The Markham real estate market had another strong year in 2013 despite all the negative attention in the media. Total sales were up 7.6% from 4,252 to 4,575 on a year over year basis. The average house price also increased by 4.1% which is far less than some of the double digit increases from previous years but on par with the modest increases predicted by most economists.
Currently, the inventory in Markham is extremely low, the lowest I’ve seen in quite some time. In December there were 438 MLS listings available and 218 sales (even despite the ice storm). By contrast, in December of 2012 there were 617 MLS listings available with only 161 total sales. Simply put, there are many buyers out there right now with nothing to buy.
If you’ve been contemplating putting your house on the market this year and weren’t sure when the best time would be….it’s definitely NOW!! I spoke to another agent the other day who had 50 showings on a new listing between Christmas and New Years!!
If you’re planning to sell or buy a home in Markham over the next few months, please give me a call and we can discuss an appropriate strategy for your current situation. I can always be reached directly at 416-995-5542 or by e-mail at [email protected]
