Find out about Markham Real Estate Market Trends and Make Educated Buying Decisions
Making the right decision often comes down to one thing: information. The more facts of the situation that you have, the better decision you can make. Nowhere is this more important than with real estate. Housing prices, economic trends, employee salaries, relocation trends and shifting generational needs continue to make this industry one of constant change. This only increases the need to pay attention to Markham real estate market treds. Knowledge is power, and the more you have of it the better decisions you can make. The Leslie Benczik team is here to help you stay informed. Together, we can help you make the best personal and financial decisions for you and your family.
The GTA Housing Market Is Hot!: housing market trends 2017
Despite new regulations for homebuyers introduced in 2016, the GTA is expected to stay red hot in the coming year. This is both boon and bane for prospective buyers. That’s why it helps having a team at your side to help point out what’s in your favour and what’s not.
Markham, being one of the most affluent areas of the GTA has experienced nearly unprecedented growth. It’s safe to say that the bad taste left by the downturn of last decade has been washed out. The average median price has risen to over $1,000,000, marking a 33% yearly change, according to Zolo.CA! What all of this means is that our area is attracting people from all over Canada and the world.
Those that invest in buying a home now will reap the benefits of buying before prices become too expensive, and, if the growth continues at this rate, buying when their home’s value is assured to increase.
Now is the time to buy.
When will housing prices drop again?
That’s hard to estimate, seeing as how all markets are a matter of ebb and flow. We suspect the same historical trend to play out here: homes will increase in value until they become inaffordable to most buyers, steadily decreasing before plateauing at a price that is considered “worth it” for the town.
Right now, the market is booming, but chances are in a few years time, things will have cooled off. The important thing to know is that now is a great time to buy a home in Markham and that the desire to live in this town will always keep prices strong.
Staying informed about Markham real estate market trends will help you find the right time to buy. The more you know, the better decisions you can make. The Leslie Benczik team wants to help educate our community on all things real estate related. The 2017 market trend is rosy, though. Markham and the entire GTA’s housing inventory is growing in value each day. Contact the team today to get the best deals possible!