Markham Residential Resale Market Statistics, Q3 2014

According to the Toronto Real Estate Board, in the 3rd quarter of 2014, Markham record a total of 1292 residential sales, with an average price of $702,154. The average sale price to listing price ratio was 100%. The average time it takes to sell a property was 22 days.

How does these results compare to 2013?

The average price increase was 8.9%.

Sales Average Price Average % Sale/ Listing Price Average Days on Market
Q3 2013 1338 $644,642 98% 26
Q3 2014 1292 $702,154 100% 22

Which Markham neighborhood has the most number of sales in Q3 2014?

Unionville record 176 sales in Q3 2014, with 76 detached home transactions, 3 semis, 4 townhouses, 16 condo townhouse, 72 condo apartments sales and 5 others.

In Q3 2013, there were a total of 158 transactions in Unionville and 57 of those are condo sales. Is the growth of condo sales and emerging trend? Or it is because there is a larger number of listings on the market for the recently completed buildings at Birchmount Rd and Hwy 7? How about the general condo market in Markham and the GTA? Stay tuned for future post in attempt to answer this questions.

Which Markham neighborhood is the most expensive in Markham?

Bayview Glen, with just 7 detached homes sales, is the community with the highest average price in Markham in Q3 2014. Bayview Glen is a small neighborhood at the Northeast corner of Bayview and Steeles, just West of the Bayview Country Club. The majority of the homes are detached homes more than 30 years old, on 50 ft or wider lots. The average price was $1,652,500 in Q3, 2014.

Which Markham neighborhood’s average prices increase the most, comparing Q3 2014 to Q3 2013?

Angus Glen, The average home prices in Angus Glen in Q3 2013 was $781,236. For Q3, 2014, the average home prices was $1,339,936, an increase of 71%. While we look in detail the transactions, we can see that the high percentage increase was due to a higher portion of high-end detached home sales, compare to Q3 2013 when more mid-range townhome sales were recorded.

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

Milliken Mills West and Rouge River Estates are tied at 12 days. Milliken Mills is a larger community at the Northwest corner of Kennedy and Steeles, consisting of homes built in the 70s and early 80s. Rouge River Estate is a tiny community just West of the Markham Green Golf Club, at the Northeast corner of Markham Rd and 14th Avenue. There were 4 transactions in Q3 2014 and the average days on market was 12 days.

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*
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