Average days on market drops in Markham

The Markham real estate market has been on fire the past year. This fact was reflected in the year-over-year median sale price which was up almost 16% in September 2016 to $875,000 vs. $755,000 in September 2015. The increase in home values may have motivated more homeowners to get in on the action as the inventory of homes increased in September 2016 to 643 vs. 497 in the previous month of August. Meanwhile the number of sales for September dropped to 497 units vs. 581 units in August, while the average days on market dropped by three days to 16 in September vs. 19 in August, indicating that when buyers saw something they liked, they were aggressive in closing the deal.