Markham Residential Resale Market Statistics, Q2 2015

According to the Toronto Real Estate Board, in the 2nd quarter of 2015, Markham record a total of 1883 residential sales, with an average price of $817,628. The average sale price to listing price ratio was 104%. The average time it takes to sell a property was 15 days.

How does these results compare to 2014?

The average price increase was 14.9% and the number of transactions rose from 1569 to 1883.

 
Sales
Average Price
Average % Sale/ Listing  Price
Average Days on Market
Q2 2014
1569
$711,436
101%
17
Q2 2015
1883
$817,628
104%
15

Markham Q2 2015 residential resale market statistics by home type

All freehold homes had a higher sale price to listing price ratio, meaning that the majority of homes were sold for over asking. The average price of detached home in Markham in Q2, 2015 is $1,085,888, semi’s at $670,262 and townhouses at $651,650. Semi’s and link houses spent the least time on the market at an average DOM of 10 days.

Home Type
Sales
Average Price
Average SP/LP
Average DOM
Detached
917
$1,085,888
104.0 %
12
Semi-Detached
137
$670,262
105.0 %
10
Condo Townhouse
133
$509,332
101.9 %
13
Condo Apt
304
$377,130
97.9 %
31
Link
155
$744,395
106.2 %
10
Att/Row/Twnhouse
235
$651,650
105.1 %
13
Co-Op Apt
1
$325,000
96.7 %
149
Det Condo
1
$775,000
98.7 %
7
Total
1,883
$817,628
103.7 %
15

Which Markham neighborhood has the most number of sales in Q2 2015?

Unionville. Being the largest TREB community in Markham, Unionville reported 229 sales in Q2 of 2015. 93 of the sales are for detached home with an average price of $1.4 mil. 5 townhomes were sold for an average of $1.08 Mil and 104 condo apartments were sold for an average price of $372,000.

Which Markham neighborhood is the most expensive in Markham?

With an average price of $2,472,500, Devil’s Elbow, consisting of mostly larger detached homes on acre lots, is the most expensive community in Markham. 6 sales were recorded in Q2 2015.

Which Markham neighborhood’s average prices increase the most, comparing Q2 2014 to Q2 2015?

The Q2 2015 average home value of “Bayview Fairway-Bayview Country Club Estates” community increase by 73% from Q2 2014. This neighborhood is located North of Steeles, South of John and between Bayview Glen and German Mills.

Q2 2015

Q2 2014

Because this is a very small community with home types ranged from condo townhouses to multi-million dollar mansion, the large increase seen in the average price is due to that more high-price mansions and detached homes were sold in Q2 2015 compare to Q2 2014. Bayview Glen, the community next to Bayview Fairway, recorded the same pattern with a average price increase at 47.5% comparing Q2 2015 to Q2 2014, due to similar reasons.

Average residential resale home prices in Village Green-South Unionville increase 31.1% comparing Q2 2015 to Q2 2014. There were 38 transactions in Q2 2015 and 32 transactions in Q2 2014.

Q2 2015

Q2 2014

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

The fastest selling communities in Markham in Q2 2015 are: Buttonville and Village Green-South Unionville. The average number of days it takes to sell in these two communities is 9 days. The Rouge River Estates community which recorded 6 transactions in Q2 2015 has an average DOM (Days on Market) of 6 days. Rouge River Estate is a small neighborhood South of Hwy 407 and East of Markham Rd. All 6 of the transactions were for detached home and the average prices is $807,750.

Where can you find the most affordable detached homes in Markham?

The Cornell community has the lowest average detached home price in Markham in Q2 2015 at about $793,000, followed by Markham Village at $ $794,000. This is $300,000 below the average detached home price in Markham.

If you want to know in details how the market is performing in your community or if you like to know more about any Markham neighborhood, don’t hesitate to connect with me via the email, phone, or social media!

Janis Tsang

Janis Tsang

Sales Representative
CENTURY 21 Atria Realty Inc., Brokerage*
Contact Me

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