Markham
Markham is a Regional Municipality located in Ontario, Canada. It is located approximately 30 Km in the northeast of Toronto Downtown.
With the population mix that is more than 50 percent visible minorities, this Canadian city is one of the most diverse cities particularly culturally in Canada. Markham has made Diversity one of its 7 strategic priorities.
Markham is a comparatively affordable city. The monthly cost of families of three individuals is around $3,152. The cost of living here for a single person is approximately $1282. You do not have to travel much to buy utilities in Markham.
Real Estate Market Outlook for Markham
Real estate market of Markham is very affordable. Markham has different construction styles like other Canadian cities. But these styles are comparatively more sophisticated.
Among these construction styles, the most important and common are detached houses or detached single family homes, townhomes and condominiums.
Detached homes are isolated constructed houses while attached homes are constructed with walls attached to nearby houses in rows. Individuals who prefer to live alone, in less busy areas prefer to live in detached houses.
Next are townhomes that are constructed with terraces in rows in the streets of Markham. These are beautiful houses.
The last ones are condominiums. Condominiums are the complex residential buildings having multiple housing units. Each of the units in Condominiums are owned individually.
Real Estate Market Analysis For Homes – October 2022
Among all the above-mentioned construction styles the most affordable area condominiums. The detached houses are comparatively expensive. But you can buy your own home at very reasonable rates in different areas of Markham.
In October, two-bedroom detached homes are available for sale at an average rate of $1.1M. This price was $1.2M about three months ago. In the same way, a three-bedroom detached home is available for sale at an average price of $ 1.3M. This price was $1.4M three months ago.
Let’s have a look at the real estate price of a townhome in October. A one-bedroom townhome is available for sale at an average cost of around $621. In the same way, a two-bedroom townhome is available for sale at an average price of $759. This price was $847 about 3 months ago.
Similarly, in October you can buy a 3-bedroom townhome with an average cost of $1.2 million and this price was $1.1M about three months ago.
At last, there are condominiums. A two-bedroom condominium is available for sale at $636k. This price was $656K about three months ago.
Similarly, a three-bedroom condominium is available for sale at an average price of around $721K. This price was around $872K three months ago.
You can see a significant fall in rates of homes in October. Hundreds of homes are available for sale in different areas of Markham.
A two bedroom and one bathroom detached home is available for sale at Gallery Tower, Markham, Ontario, L6G 1B3. This beautifully constructed home costs only $690,000.
