Markham Real Estate Market June 2021
Saturday Jul 10th, 2021Share
Let’s talk about the Sales in Markham in June. As you know Markham is part of the York region in which Markham contributed 25% of total sales every month. In June we had 504 homes sold and the Average Price was $1,214,304, The sales actually dropped 11.4% and the price fell by 8.0% monthly. The day on the market is 12 days.
If you look at the graph, the average price and the sales have dropped 5.7% and 28% respectively since March this year. One of the reasons why the price didn’t come down at the same pace as the sales volume is the number of New Listings also decreased since March. The inventory of homes for sale is only one month, if no new listing comes to the market.
If you look at the chart showing the Types and Sale Ratio, 47% of sales is Detached, 5% in Semi, 12% in Freehold Townhouse and 33% in Condo Apartment and Condo Townhouse.
The Detached homes had no change in price, but the monthly sales came down by 18.4%. The average price of Detached is $1,624,818 and dropped by 6% monthly.
If we look at the Semi-Detached, we had 27 sales with a drop of 25% compared to last month. The average price was $1,159,395 and up 4.3%.
For Townhouse, there was a huge drop in sales by 22.5% monthly, and the price was down by 1% to $1,097,024.
The total sales of Condo Apartments in York region were 338 in which Markham had 123 units sold. It means Markham contributed 36% of the total sales. In fact, the sales in Markham increased 10.8% monthly, but the price dropped by 8.3% with the average price of $623,000.
On the other hand the sales in Condo Townhouse increased by 7.7% to 42 homes sold and the average price was slightly dropped by 2.2% to $777,635.