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Martin MacFarlane: Markham Real Estate Agent | Homes For Sale

Real estate agent specializing in Markham Real Estate. Call 905-471-2000 to find Markham houses with the best value.

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How’s The Markham Real Estate Market Doing? November 2013

November 6, 2013 By Martin MacFarlane

 The Markham real estate market had another strong month in October with respect to sales and average prices while the average days on market began to rise.  Let’s take a closer look at October’s market!

The average price during October was $649,029 which was a steady increase over the average price in September of $644,555 and a 6% increase over the same month last year.  On a broader scale, the year-to-date annual average is trending at 4.5% higher than last year’s average house price.  By comparison, October was a strong month in terms of price.

average sold price markham october 2013 average sold price ytd markham october 2013

The average time it took for a home to sell in Markham during October 2013 was 25 days, up from 23 days in September.  By comparison, last year in October it took the average house 29 days to sell so while we may be trending upwards, the market is still doing very well.  As we head into the winter and holiday season, those numbers will likely continue to trend upwards until the new year.  That doesn’t necessarily mean prices will come down, but buyers will likely have a little more time to shop around and sellers should expect the same.

Average Days on Market Markham October 2013

 When it comes to total house sales in Markham, last month there were 397 sold listings which remained fairly steady compared to 403 sold listings in September.  However, those numbers are significantly up compared to October of 2012 when only 306 houses were sold in Markham.  That’s almost a 30% increase!  In terms of inventory or total available MLS listings, there has been much less to choose from.  In October there was 785 active listings vs 902 listings in September and 1019 available listings in October of last year.

Sold vs listings in markham october 2013

 House Prices in Markham During October 2013

Property Type Active Sales Avg $ Med $ Min $ Max $
Att/Row/Townhouse 81 39
495
$530,956
$503,714
$493,000
$483,000
$390,200
$365,000
$860,000
$945,000
Month
Year
Co-op Apt 0 0
0
–
–
–
–
–
–
–
–
Month
Year
Condo Apt 240 68
554
$349,390
$342,317
$309,000
$309,691
$236,000
$180,000
$1,800,000
$1,920,000
Month
Year
Condo Townhouse 54 35
304
$422,726
$412,407
$412,600
$405,000
$222,000
$180,000
$676,800
$682,000
Month
Year
Detached Condo 0 0
3
–
$664,667
–
$590,000
–
$575,000
–
$829,000
Month
Year
Detached 355 186
1980
$865,613
$815,745
$747,000
$743,250
$490,000
$315,000
$2,880,000
$3,880,000
Month
Year
Link 30 35
380
$540,783
$552,868
$543,000
$553,750
$395,000
$390,000
$699,000
$765,000
Month
Year
Semi-Detached 25 34
334
$543,291
$509,084
$528,500
$500,000
$455,000
$355,000
$678,000
$818,000
Month
Year
Markham Total: 785 397
4050
Month
Year

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]

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Filed Under: Markham Market Updates

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