Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
Markham prices fell again in 2026, but more homes sold. The median detached home sold for $1,420,000 from January to October, down 6.5% from 2025 and 13.9% from 2024, in TRREB MLS data via REALM, while sales rose 7.4%. Forecasters expect small Ontario price gains in 2027, so I expect a flat year.
This guide is for Markham homeowners, buyers and investors who want detailed numbers before a 2027 move. My combined Markham and Richmond Hill post gives the big picture; this one goes deeper on Markham alone: October 2026 results by home type, two years of price changes, how fast each type sells, the $1.5 million mortgage line, new housing and transit, and what forecasters expect.
What is happening in the Markham housing market right now?
Markham is a market where more homes are selling, but for less money. In October 2026, TRREB recorded 260 sales across all home types, down 7.5% from October 2025. The median price was $1,050,000, down 7.7%, and the average was $1,117,006, down 9.2%. Homes sold for 98% of asking on average and took 30 days to sell.
| Measure | October 2025 | October 2026 | Change |
|---|---|---|---|
| Sales | 281 | 260 | -7.5% |
| Average price | $1,230,833 | $1,117,006 | -9.2% |
| Median price | $1,138,000 | $1,050,000 | -7.7% |
| New listings | 680 | 611 | -10.1% |
| Months of inventory | 4.4 | 4.1 | -0.3 |
| Sold price vs asking price | 99% | 98% | -1 point |
Source: TRREB Market Watch, October 2026 and October 2025, Markham, all home types.
October was a soft month, but the full year tells a different story on sales. From January to October 2026, Markham had 2,553 sales across all home types, up 7.4% from the same period of 2025, while the median price fell 8.9% to $1,080,000. Months of inventory, which is how long it would take to sell every listed home at the current pace, was 4.1 in October. That is tighter than York Region as a whole, at 5.0.
How much do homes cost in Markham in 2026, by home type?
Every main home type sold for less from January to October 2026 than in the same months of 2025 and 2024. Here are the median sold prices.
| Home type | 2024 | 2025 | 2026 | 1-year change | 2-year change |
|---|---|---|---|---|---|
| Detached | $1,650,000 | $1,518,000 | $1,420,000 | -6.5% | -13.9% |
| Semi-detached | $1,280,000 | $1,168,000 | $1,025,000 | -12.2% | -19.9% |
| Freehold townhouse | $1,200,000 | $1,122,600 | $999,990 | -10.9% | -16.7% |
| Condo townhouse | $900,000 | $825,000 | $750,000 | -9.1% | -16.7% |
| Condo apartment | $700,000 | $643,000 | $558,000 | -13.2% | -20.3% |
Source: TRREB MLS data via REALM, median sold price, January to October of each year (2026 vs the same period of 2025 and 2024).
The two-year drops are large. The median semi fell $255,000, or 19.9%, and the median condo apartment fell 20.3%. The freehold townhouse median dropped just under $1 million, to $999,990, for the first time in the three years shown. The detached median of $1,420,000 is close to Vaughan ($1,415,000) and below Richmond Hill ($1,485,000).
What does the MLS Home Price Index say about Markham?
TRREB’s Home Price Index tracks a “benchmark” home with typical features, so it is less affected by which homes happened to sell. In October 2026, Markham’s composite benchmark was $1,037,300, down 6.89% from a year earlier. The detached benchmark was $1,419,900 (down 6.34%) and single-family attached $1,021,600 (down 6.25%). The townhouse benchmark fell the most, to $717,400 (down 11.53%), and the apartment benchmark was $510,500 (down 9.51%).
Which Markham home types are selling fastest?
Attached homes are moving best. In October 2026, freehold townhouses sold for 101% of asking on average, meaning many went over the list price, and took only 23 days. Semis and condo townhouses sold at 100% of asking.
| Home type (October 2026) | Sales | Median price | Sold vs asking | Avg days to sell | Active listings |
|---|---|---|---|---|---|
| Detached | 111 | $1,350,000 | 97% | 29 | 455 |
| Semi-detached | 20 | $950,500 | 100% | 30 | 42 |
| Freehold townhouse | 46 | $987,350 | 101% | 23 | 132 |
| Condo townhouse | 17 | $705,000 | 100% | 33 | 87 |
| Condo apartment | 59 | $538,000 | 97% | 34 | 327 |
Source: TRREB Market Watch, October 2026, Markham, by home type. One month of data; small home types have few sales.
Detached homes and condo apartments are slower. There were 455 detached homes and 327 condo apartments listed in October, and both sold at 97% of asking on average. Over January to October, Markham condo apartments took 39 days on average to sell, up from 30 in 2024, based on TRREB MLS data via REALM. By my estimate, using active listings at the end of October and average monthly sales, that is about 5.6 months of condo apartment supply, compared with about 3.5 months for freehold townhouses and 4.1 for detached homes.
Sales rose most in two home types. Detached sales were up 10.6% in January to October 2026 and condo townhouse sales were up 22.3%, while condo apartment sales were flat.
Instant Home Valuation
What’s your home
worth today?
Answer six quick questions and get an instant value range built from current Toronto & GTA sale data — property type, size, condition, lot and location all weighted the way a real pricing conversation weighs them. Takes about ninety seconds.
Reading recent GTA sale data…
Building your estimate
Estimated market value
—
$0–$0
Most likely value $0 · roughly $0 per square foot
What moved the number
Starting from the area baseline for your property type, here’s what each answer added or subtracted.
Market context
Recent local averages for comparison.
—
A range is a starting point.
A strategy is what sells.
This model doesn’t know that your neighbour’s identical semi went $80,000 over asking last month, or which two upgrades actually pay back in your area. That conversation is free and takes twenty minutes.
What does the $1.5 million mortgage line mean for Markham buyers?
It matters more in Markham than in most GTA cities, because the detached median sits just under it. In Canada, a home priced under $1.5 million can be bought with an insured mortgage and as little as 5% of the first $500,000 plus 10% of the rest. At $1.5 million or more, you need at least 20% down.
| Purchase price | Minimum down payment | Share of price |
|---|---|---|
| $1,000,000 | $75,000 | 7.5% |
| $1,250,000 | $100,000 | 8.0% |
| $1,420,000 (2026 detached median) | $117,000 | 8.2% |
| $1,499,000 | $124,900 | 8.3% |
| $1,500,000 | $300,000 | 20% |
Source: Canadian minimum down payment rules for insured mortgages (5% of the first $500,000, 10% from $500,000 to $1.5 million, 20% at $1.5 million and above). My arithmetic.
A buyer with 8.2% down pays mortgage default insurance. At that loan-to-value, the CMHC premium is 4.00% of the loan, which on a $1,420,000 purchase is about $52,120 added to the mortgage. You must also pass the stress test at the higher of 5.25% or your contract rate plus two points.
For sellers, this line shapes your buyer pool. A detached home priced at $1,549,000 needs a buyer with at least $309,800 down. The same home at $1,499,000 can be bought with $124,900 down. Where your home’s value is close, that difference in buyers can matter more than the $50,000 in price.
How much new housing and transit is coming to Markham?
Under Ontario’s housing targets, Markham is expected to build 44,000 homes from 2022 to 2031, the largest target in York Region (Vaughan’s is 42,000). The province counted 2,034 new homes in Markham in 2024 against a target of 3,667 for that year, or 55%, and 6,492 since 2022. So new supply is arriving, but more slowly than the target.
The biggest transit project is the Yonge North Subway Extension. Metrolinx describes it as about 8 kilometres from Finch Station with five new stations, serving Vaughan, Markham and Richmond Hill. It awarded the tunnelling contract in July 2025, but it says the line will open after the Ontario Line is complete and gives no date. Do not pay a premium today based on a promised opening year.
TRREB divides Markham into about 40 communities, including Angus Glen, Berczy, Box Grove, Cachet, Cathedraltown, Cornell, Greensborough, Markham Village, Middlefield, Milliken Mills, Unionville, Victoria Square and Wismer. A city-wide median blends all of them, so always check recent sales in your own community. My guide to the best neighbourhoods to live in Markham describes the main ones.
What is the Markham real estate forecast for 2027?
No major forecaster publishes a Markham-only forecast that I could verify. Here is what the regional and national outlooks say, as of November 2026.
- Bank of Canada (28 October 2026): raised its policy rate to 2.50%, expects inflation to average 3% in 2027 and return to 2% by mid-2028, expects housing to stay relatively weak, and said rates could need to rise further.
- TD Economics (29 September 2026): Ontario sales up 7.4% in 2027 and Ontario average prices up only 0.6%, with pent-up demand doing much of the work.
- CREA (16 October 2026): national sales up 4.4% in 2027 and the national average price up 1.2%, with gains under 2% in most provinces, including Ontario.
Both bank and industry forecasts came before the October hike. If rates rise again on 9 December 2026 or in early 2027, the sales rebound could come later.
My own view, and only my view: Markham is further along than most GTA cities, because sales are already rising. I expect prices to stay near 2026 levels in 2027, with attached homes firmer and condo apartments still soft. For a deeper side-by-side, see Markham vs Richmond Hill in 2027.
Is 2027 a good time to buy in Markham?
For buyers with stable income, prices are well below 2024 and there is choice in detached homes and condos. A freehold townhouse at about $1 million now costs $200,000 less than in 2024. Condo apartment buyers have the most room to negotiate.
The cost of borrowing is the catch. After the 28 October hike, the big banks raised prime from 4.45% to 4.70%, so variable-rate mortgages and home equity lines of credit went up right away. By my own arithmetic, each 0.25-point rise adds about $14 a month for every $100,000 borrowed on a 25-year amortization. On a $1.3 million mortgage, that is about $180 a month.
If you want a freehold townhouse or semi in Markham, be ready to move quickly, because the good ones are selling at or above asking. If you want a condo apartment, take your time and compare several buildings. If your budget is close to $1.5 million, decide your price ceiling and down payment before you start viewing, not after you fall in love with a house.
Should I sell my Markham home in 2027 or wait?
If you own a townhouse or semi, buyers are active and you do not need to wait for a better market. If you own a detached home, price against 2026 sales, not the 2024 median of $1,650,000, and consider where you sit relative to $1.5 million. For a current estimate, see how much your Markham house is worth, and for the regional context read my Markham and Richmond Hill market outlook.
Condo apartment investors should be careful about holding in the hope of a quick rebound. The median is down 20.3% in two years and there are about five to six months of supply. If the rent no longer covers your costs at today’s rates, run the numbers on selling now against carrying the unit through 2027.
What to do next
- Find your home type in the tables above, then compare with recent sales in your own Markham community.
- Get a mortgage pre-approval with a rate hold before the Bank of Canada decision on 9 December 2026.
- If you are near $1.5 million, work out your down payment on both sides of the line.
- If you are selling, price against 2026 sales and current listings, and check how many similar homes are competing with yours.
- Use the estimator on this page for a starting value, then get a full comparative market analysis.
Need help with this? Talk to me.
I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].
Frequently asked questions
Will house prices go down in Markham in 2027?
A further large drop looks less likely in 2027 than it was in 2026, but nothing is guaranteed. Markham’s detached median fell 6.5% to $1,420,000 from January to October 2026, in TRREB MLS data via REALM, while sales rose. TD Economics expects Ontario prices to rise only 0.6% in 2027, so flat prices are a reasonable planning case.
What is the average house price in Markham in 2026?
The average price for all home types in Markham was $1,143,564 from January to October 2026, according to TRREB’s October 2026 Market Watch. In October alone, the average was $1,117,006 and the median was $1,050,000. The median detached home sold for $1,420,000 from January to October, based on TRREB MLS data via REALM.
How much is a detached house in Markham right now?
The median detached home in Markham sold for $1,420,000 from January to October 2026, based on TRREB MLS data via REALM, down 6.5% from 2025 and 13.9% from 2024. In October 2026, 111 detached homes sold at a median of $1,350,000 and 97% of asking. Prices vary widely between communities such as Unionville, Cornell and Angus Glen.
Is Markham a buyer’s market or a seller’s market?
Markham is fairly balanced in late 2026, with 4.1 months of inventory in October, according to TRREB, compared with 5.0 for York Region. Freehold townhouses and semis lean toward sellers and sold at or above asking in October. Condo apartments lean toward buyers, with about five to six months of supply by my estimate.
How much is a condo in Markham in 2026?
The median Markham condo apartment sold for $558,000 from January to October 2026, based on TRREB MLS data via REALM. That is 13.2% lower than in 2025 and 20.3% lower than in 2024. Condo townhouses had a median of $750,000. Condo apartments took 39 days on average to sell, so buyers have time to compare.
How long does it take to sell a house in Markham?
A Markham detached home took 29 days on average to sell from January to October 2026, based on TRREB MLS data via REALM, up from 19 days in 2024. In October 2026, freehold townhouses sold fastest, in 23 days on average, while condo apartments took 34 days, according to TRREB’s Market Watch.
How much down payment do I need for a house in Markham?
At Markham’s 2026 detached median of $1,420,000, the minimum down payment is $117,000 on an insured mortgage. That is 5% of the first $500,000 plus 10% of the rest. At $1.5 million or more, the minimum jumps to 20%, so a $1,500,000 home needs $300,000 down. Buyers must also pass the stress test.
Are more homes selling in Markham in 2026?
Yes. Markham had 2,553 sales across all home types from January to October 2026, up 7.4% from the same period of 2025, according to TRREB’s October 2026 Market Watch. Detached sales rose 10.6% and condo townhouse sales rose 22.3%, based on TRREB MLS data via REALM, even as prices fell.
When will the Yonge North Subway Extension open?
No opening date has been announced as of November 2026. Metrolinx says the roughly 8-kilometre extension of Line 1 from Finch Station, with five new stations serving Vaughan, Markham and Richmond Hill, will open after the Ontario Line is complete. The Ontario Line itself has no confirmed opening date, so treat any promised year with caution.
Sources
- TRREB Market Watch, October 2026
- TRREB Market Watch, October 2025
- TRREB Community Housing Market Report: York – Markham, Q2 2026 (community names)
- Bank of Canada raises policy rate to 2.50% (28 October 2026)
- TD Economics, Provincial Housing Market Outlook (29 September 2026)
- CREA quarterly resale housing forecast (16 October 2026)
- Ontario Data Catalogue: Ontario’s housing supply progress, January to December 2024
- Metrolinx: Yonge North Subway Extension
Related reading
- GTA Housing Market Forecast 2027: City-by-City Numbers
- Mississauga Housing Market 2027: Prices, Sales and What to Expect
- Brampton Housing Market 2027: Prices, Sales and What to Expect
- Markham and Richmond Hill Housing Market 2027
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Toronto. I work with buyers and sellers across Toronto and the GTA and have helped more than 100 families sell. Four-plus years of active GTA transactions and over $100 million in sales volume.
Reach me at [email protected] or 833-330-1925, or book a call.