Interesting Market Data: Townhouses vs Detached Houses in Markham

The general view may be that the real estate market has slowed down in the summer. People may also have the idea that prices of most properties have dropped. Based on the current expericnece of our team members, the above market observation is true to some extent. But for certain type of properties or in some areas, we have found some interesting facts.  For example, in Markham, while the number of sales for detached houses  dropped 37% from June  to July and the average price was shown lower than the previous month,  the average price for townhouses, however, showed an increase of 3.16% within the same period (See table below). Therefore buyers and sellers may want to check with their realtors who have their fingers on the pulse of the market closely and, therefore, could be informed to make good selling or buying decisions. 

Markham        
         
Detached House Active Listing Sales Avg$ Med$
May-12 459 286 $     817,910.00 $     755,900.00
Jun-12 463 274 $     810,361.00 $     730,000.00
Jul-12 452 172 $     789,783.00 $     718,500.00
Change % (June to July) 2.37% -37.22% -2.53% -1.57%
         
Townhouse Active Listing Sales Avg$ Med$
May-12 54 73 $    491,915.00 $    477,000.00
Jun-12 68 53 $    485,587.00 $    452,000.00
Jul-12 69 47 $    500,957.00 $    465,000.00
Change % (June to July) 1.47% -11.32% 3.16% 2.87%
         

 Data Extracted From Toronto Real Estate Board

 

Antony Chan

Antony Chan

Broker
CENTURY 21 King's Quay Real Estate Inc., Brokerage*
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