Market Update

The market as of this writing is still very active with the fuel coming from continued low interest rates and a lack of supply. Comparing October 2008 to October 2009, last year there were 124 sales in N11 Markham and this year there were 237. The active listings for the same months were 902 last year and 320 this year! Therefore the reason for the return of multiple offers in many cases. The average number of days needed to sell a home in N11 Markham has dropped from 36 days to 22 days with many homes selling in as little as a week if they are priced right and presented well. The average price has jumped as well from $445,164 last year to $495,671 this year again in Markham for a detached home. Finally the number of sales for all of TREB have jumped from 5,155 a year ago to 8,476 for October 2009. If you're thinking of selling it's a great time to do it and if you're buying be prepared to put your best offer forward or expect not to get the home because if it's well priced  there's a good chance there could be multiple offers.

Leslie Weir

Leslie Weir

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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