||Keeping home buyers and sellers informed
|Posted on Mon, 06 May 2013, 03:16:24 PM in Markham Real Estate Market Trends & Analysis|
|Tags:||homes in markham, homes in Unionville, buyers, Sellers, Cornell, for sale, sold, listings, Days on Market, townhomes, houses, Markham, house prices, MLS, housing trends, mortgage rules, selling, Average Price|
The spring real estate market in Markham in now well underway and all signs point to a very active market. Sellers should be happy with the prices they've been receiving and buyers should be happy with the selection. Let's take a closer look!
The total number of active listings in Markham during April was 997, a steady increase over March and a 20.9% increase over the total inventory in April of 2012. The total number of sales are almost identical on a year over year basis at 547 sales last April compared to 541 last month.
The average house price has recovered nicely from the past few months and represents a moderate 2.2% increase over the same period last year. This is quite noteworthy since the inventory has been way up. More selection can often have a downward pressure on house prices. Most definitely a great sign given all the recent "doom & gloom" predictions in the media. The average time it took to sell a home remained the same at 21 days.
So what does this all mean? Well, if you're a buyer in this market, it's a great time to buy if you think you might be very picky or looking for something unique as the supply of homes is plentiful and should continue, at least for another month or two. If the type of home you are looking for is fairly common and timing doesn't really matter, then it might be a good a idea to hold off for a couple of months to see if things cool off a bit.
If you're a Seller, then I wouldn't waste any time in getting your home on the market NOW.
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|Posted on Thu, 04 Apr 2013, 02:16:56 PM in Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||real estate, homes in markham, buyers, Sellers, for sale, sold, listings, Days on Market, real estate agents, realtors, houses, Unionville, house prices, MLS, housing trends, selling, Average Price|
The real estate market in Markham had an interesting month in March. Prices dipped, but just slightly, inventory increased significantly and the average "days on market" improved nicely. Let's take a closer look!
The average price of a home sold last month was $596,479; a slight drop from the $600,356 average in February. So far this year we are trending 1.26% below last year's average but there's a good chance we may see a small jump in the spring. The average time it took for a home to sell in March was 21 days as compared to 26 in February but still longer than the 18 days averaged in March of last year.
As far as total sales go, 354 homes were sold in March which is a big drop off from the 509 homes sold in the same period last year. Although definitely not the only reasons, it is worth noting that Easter weekend this year was in March as opposed to April last year and we also experienced a bit of a longer winter. As far as total inventory goes, Markham experienced a big boost from 685 homes in February to 885 homes in March which is an 18.5% increase over the amount of homes listed last March.
So what does this all mean if you're planning to make a move right now? Well, if you're selling, you should be aware that you'll have a fair bit of competition right now and the market seems to be slightly favouring buyers. The sold vs active listings ratio sits at 40% which basically means that 40% of all homes listed during the month of March actually ended up selling.
While placing a proper price tag on your home and carefully preparing and staging your home is ALWAYS important, I would place extra emphasis in those areas right now.
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|Posted on Wed, 06 Mar 2013, 12:27:48 PM in Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||homes in markham, homes in Unionville, buyers, Sellers, Cornell, Greensborough, sold, listings, Days on Market, detached, townhomes, townhouses, realtors, houses, Unionville, house prices, MLS, residential, housing trends, selling, Average Price|
The real estate market in Markham has defintely begun to heat up over the past month as the average "Days on Market" fell sharply from 42 days to 26 days. That's still longer than the 20 days average from a year ago but most definitely a positive indicator. Prices remain steady from last month at an average sale prices of $600,356 but on a year over year basis, that's a 3.2% increase.
Total sales volume is down from 338 sales last February to only 271 sales last month but total inventory is up thus keeping the prices fairly steady. Another aspect to consider is that total sales of detached homes are down while the sale of townhomes are up indicating a stronger precence of first-time buyers in the market. Many first-time homebuyers shied away from the market during the last half of 2012 after the goverment introduced stricter lending guidelines but appear to be making a comeback.
For a visual snapshot of the Markham real estate market, check out the charts below. Whether you're planning on buying or selling, your strategies should be adapted to the current market. If you'd like more info on market conditions or any kind of real estate advice, feel free to contact me anytime!
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|Posted on Tue, 05 Feb 2013, 04:28:40 PM in Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||real estate, homes in markham, homes in Unionville, buyers, Sellers, for sale, sold, listings, Days on Market, detached, semi detached, townhomes, townhouses, real estate agents, realtors, houses, Markham, house prices, MLS, residential, housing trends, selling, Average Price|
The real estate market in Markham has shown some signs of strength during the month of January as the total number of sales were almost on par with sales figures a year ago. In January Markham saw 204 sales as compared to 216 last January. Slightly down, but not nearly the slide experienced during November and December which saw 263 and 164 sales as compared to 326 and 235 sales last year. Far from a "hot" market, but definitely some positive news.
The average selling price of a home is slightly up to $599,582, a small bump from December and an 8.9% increase on a year over year basis. One very noteworthy statistic to pay attention to is the "average days on Market" in Markham which is up considerably to 42 days. The highest we've seen in a very long time. One contributing factor to this is that the total
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|Posted on Fri, 18 Jan 2013, 12:34:02 PM in Home buying tips, Home selling tips, Marketing strategies, Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||real estate, homes in markham, homes in Unionville, buyers, Cornell, Greensborough, for sale, listings, Days on Market, detached, real estate agents, realtors, houses, house prices, MLS, interest rates, housing trends|
The city of Markham saw a bit of a rebound in prices during the month of December while the average days on market rose slightly to 31 days and inventory and sales were down. Of course, this is typical for the holiday season as buyers and sellers don't usually buy or sell homes in December unless they need to. Looking back on the entire year, the average house price rose significantly from $548,898 to $605,564. That's a 10% increase and easily the largest increase over the past 10 years.
What does this mean for Markham home prices in 2013? Well, despite what you might hear from random news articles, don't expect a crash anytime soon as stricter lending guidelines and very low interest rates will protect the market. And I wouldn't expect any dramatic increases either as we've witnessed over the past couple years. My personal expectation is that we will experience a more balanced market with moderate price growth (if any) between 0-3%.
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|Posted on Tue, 11 Dec 2012, 02:35:42 PM in Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||real estate, homes in markham, buyers, Sellers, sold, listings, Days on Market, Markham, house prices, MLS, residential, interest rates, housing trends|
Markham Real Estate Market Continues to Soften
While the real estate market in Markham is still one of the healthiest housing markets in the GTA, we continue to see softer conditions in recent months. The average house price dropped from $612,512 in October to $570,283 in November although still a 1.6% increase over November of 2011. The average time it took for homes to sell rose slightly from 29 to 31 days continuing the upward trend. 263 homes were sold during November which is down from 306 in October and also down 19% from the 326 homes sold a year ago.
While the market itself was likely due for a bit of cooling after an incredibly hot run, much of the current conditions are also a result of the recent mortage changes introduced in July which reduced maximum mortgage amortiaztions from 30 to 25 years and a purchase price ceiling of one-million dollars for government insured mortgages.
As with any location, if you're buying and selling in the same market, it's all relative when it comes to price. Although, your overall strategy should be different and carefully thought out to ensure a successful move. If you're planning on buying in this market and don't have anything to sell, well, now is an amazing time. Not only are prices reasonnable, there's not much competition between buyers at the moment and mortgage rates are incredible.
The charts below provide a visual snapshop of the trends & statistics in Markham's real estate market during the past year or so. If there's any specific info you would like to know or if you have any questions about your own situation, feel free to contact me anytime.
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|Posted on Tue, 06 Nov 2012, 12:34:16 PM in Real Estate Trends, Markham Real Estate, Markham Real Estate Market Trends & Analysis|
|Tags:||real estate, homes in markham, homes in Unionville, buyers, Sellers, for sale, sold, listings, Days on Market, real estate agents, realtors, houses, house prices, MLS, housing trends|
Prices are down in Markham.
The Markham real estate market has definitely shown signs of a slow down in recent weeks. Prices are down from a month ago with the average house selling for $612,512 in October as compared to $640,269 in September. Although year over year, we are still seeing a 7.65% increase from last October's sales.
The average days on market (average time a home takes to sell) rose a fair bit from 24 days to 29 days currently and has definitely been trending upward for a few months now.
Sold listings vs Active listing are up slight to 30% but we are definitely still in a Buyer's market. Well priced homes that show well will be the first to go in this market and they might be the only ones to go. Don't make the mistake of just throwing your home on the market without property staging it or making sure is has the right market exposure. It could cost you thousands!
The graphs below will give you a visual snapshot of Markham's real estate market so you can see how recent sales have been trending. If there's any specific information you would find valuable, feel free to contact Martin anytime.
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|Posted on Mon, 22 Oct 2012, 04:56:31 PM in Real Estate Trends, Markham Real Estate|
|Tags:||real estate, homes in markham, buyers, Cornell, listings, Days on Market, detached, semi detached, house prices, MLS, residential, housing trends|
Prices are up but sales are down in Markham for the month of September. After a short dip during the summer, prices continue to rise pulling up the current year-to-date average to $608,190. The average "Days on Market" remains at 24 days as compared to August but the active listings vs sold listings ratio drops to 25.8% down from 34% a month ago. Taking a look at the 4th graph below, you'll see that overall sales have dipped while inventory has risen, trending toward a buyer's market. While most Sellers continue to benefit from higher prices, Buyers have more selection to choose from so if you're thinking about selling your home, make sure your home stands out from the rest and ensure your agent has a sound marketing plan to increase your exposure.
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|Posted on Mon, 05 Mar 2012, 10:14:10 AM in Home buying tips, Home selling tips, Markham Real Estate|
|Tags:||negotiating, real estate, homes in markham, homes in Unionville, Homes in Stouffville, buyers, Sellers, Cornell, Greensborough, for sale, listings, Days on Market, real estate agents, realtors, houses, MLS|
Spring is only a few short weeks away and not only does this typically mean warmer weather, but a busier real estate market. With winter almost behind us, many home sellers and buyers will be thinking about making a move. Real estate signs should start to pop up all over the place. The inventory of homes as been very low for quite some time around the Markham/Stouffville area and as of late, many homes have been selling over their list price in multiple offers.
There are already plenty of buyers out there and if you've been slowly getting your house ready to put on the market, sooner is better. There are never any guarantees but typically, spring means more homes on the market which means more competition if you're selling. Now would be a great time to list your home and try to get an extended closing date so that you can shop for your next home with more inventory to choose from.
Selling first definitely scares some people who think who think they might find themselves homeless, but unless you are looking for something that is very unique or you think you
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|Posted on Thu, 17 Nov 2011, 04:27:01 PM in Home buying tips, Home selling tips, Markham Real Estate|
|Tags:||real estate, homes in markham, homes in Unionville, buyers, Sellers, for sale, sold, listings, Days on Market, detached, semi detached, townhomes, townhouses, real estate agents, realtors, houses, Markham, Unionville, house prices, MLS, residential|
It's been quite a year for real estate in Markham thus far. We've seen record breaking prices and an abundance of activity. As of late, the market has showed signs of slowing down a bit and I can safely say we are approaching a more balanced environment. The average days on market currently sits at around 22 days and will likely continue to rise as we approach the holiday season. If you live in Markham then you know that it is a great place to live and that your investment is fairly safe. No one can predict the future with 100% certainty but home prices are expected to continue to rise in 2012, only not as fast as we've seen over the past couple of years.
I've come across many buyers over the past year who were hesitant to buy their first home because they thought prices were going to drop. Unfortunately, you can't believe everything you hear on the news. Even though prices in Markham and Unionville may seem high, there are many willing buyers and prices sit well within overall affordability indicators. On top of it, mortgage rates continue to stay at all time lows and are expected to remain low for the majority of 2012.
If you happen to be thinking about buying a home in Markham and you are either a first-time homebuyer or moving from another town, I would recommend the next few months as being an
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