Markham Residential Market Statistics Q1 2016

By IDuke (this edited version: Sting) [CC BY-SA 2.5 (http://creativecommons.org/licenses/by-sa/2.5)], via Wikimedia Commons
 

According to the Toronto Real Estate Board, in the 1st quarter of 2016, Markham record a total of 1209 residential sales, with an average price of $892,997. The average sale price to listing price ratio was 104%. The average time it takes to sell a property was 19 days.

(For the TREB community map, visit the following link and in the “View Layer” box, click “communities”: www.torontomls.net/bingcommunitiesmap/map.html)

How does these results compare to 2015?

The average price increase was 16.16% and the number of transactions rose from 952 to 1209.

 

Sales

Average Price

Average % Sale/ Listing  Price

Average Days on Market

Q1 2016

1209

$892,297

104

19

Q1 2015

952

$768,133

102

19

 

Which Markham neighborhood has the most number of sales in Q1 2016?

Unionville top the list at 186 sales. Being the largest TREB community in Markham, Unionville reported 186 sales in Q1 2016. 56 of the sales are for detached home with an average price of $1.562 mil. 89 condo apartments were sold for an average price of $379,000.

Which Markham neighborhood has the most expensive homes?

The average sale price of homes in Devil’s Elbow, is $2.9 Mil. 6 were sold in the 1st Quarter of 2016.

Which Markham neighborhood is the most affordable?

Commerce Valley, a community consists of mostly condo apartments and townhouses, is the most affordable community in Markham. The average price of a condo apartments is $320,000 and for a freehold townhouse the average was $787,000.

Which Markham neighborhood’s average prices increase the most, comparing Q1 2015 to Q1 2016?

Rouge River Estate, a small subdivision South of Hwy 407 and West of Markham Road, tops the list as the average selling price increase 69.1% from $601,000 to $1,016,488. With only 10 sales in the 1st quarter, 7 of which are detached homes, I would think the average price is skewed.

Second is Vinegar Hill, a subdivision south of Hwy 7 at Markham Road, with the average price rose 53% from $636,275 to $976,600. With only 5 total sales record, 4 or which are detached homes, I believe this is a skewed number as well.

Third place is Berczy, with an increase of 48% from $812,491 to $1,023,963.There were 84 sales recorded in Berczy in Q1 2016 and 69 sales recorded in Q1 2015. With the increase in detached homes sold in the Berczy community in Q1 2016, the average sale price in the community was driven up. If you look at the average sale price in each type of houses, the increase is 15 to 20%.

Which Markham neighborhood is fastest selling (with the least average number of days on market)?

The Legacy community at 9th line and South of Hwy 407 is the fastest selling community with 5 sales recorded in Q1 2016. The average days on market is 7, meaning it takes an average of 7 days to sell a home.

If you are wondering how much is your home in Markham worth, or if you are looking to for the perfect home in Markham: 

Please email me your address for a free, no obligations home evaluation report or if you are looking for the perfect home, ask me which community is best for your style and budget!

 

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Janis Tsang

Janis Tsang

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
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