Markham Real Estate Market — Key Takeaways
Markham recorded 176 resale transactions in February 2026 across all property types, representing $184.5M in total dollar volume. With an SNLR of 41% and 4.49 months of inventory, conditions remain buyer-leaning — but Markham is closer to balanced territory than most York Region municipalities. Semi-detached homes hit 107% SP/LP; detached averaged 38 days on market. The condo apartment segment ($555K median) continues to face the most pressure, with the highest inventory levels relative to sales.
- ▼Price trend: Median $1,042,500 in Feb 2026 — down from an estimated $1,200,000+ in early 2025. Condo apartments carry the most downward pressure at $555K median.
- →Leverage: Buyer-leaning — SNLR 41%, 4.49 months of inventory, SP/LP at 98%. Closer to balanced than most York Region towns.
- ~Speed: Avg DOM 43 days, median DOM 24 days — semi-detached sold in 8 days median; condo townhouses at 41 days median.
- !Spring watch: Markham’s employer base (Markham Centre tech corridor, healthcare, finance) provides demand support. Watch March–May volume for confirmation of a seasonal floor.
February Summary: Markham is the most active York Region market by volume — 176 sales versus Aurora’s 41 and Newmarket’s lower totals. At 4.49 months of inventory and SNLR of 41%, Markham is closer to balanced conditions than most regional peers. Well-priced homes in active neighbourhoods are still generating competition; oversupply pressure is concentrated in the condo apartment and condo townhouse segments. Detached buyers have meaningful leverage while semi-detached inventory remains tight.
Data based on TRREB MLS® reported February 2026 resale activity. Metrics may be revised; some property types or segments may not sum due to classification differences.
Markham Market Conditions — February 2026
Three core indicators define Markham’s current market balance: the Sales-to-New-Listings Ratio (SNLR), months of inventory (MOI), and average days on market (DOM). All three are signalling buyer-leaning conditions as of February 2026, though Markham sits closer to the balanced threshold than most York Region towns.
SNLR < 40% (typically)
40%–60%
SNLR > 60%
What this means: At 41% SNLR and 4.49 months of inventory, Markham is technically buyer-leaning but sits near the border of balanced conditions. Active listings of 830 with an average list price of $1,399,795 — versus a median list price of $1,099,900 — signals that a significant share of listings are priced above where the market is actually transacting. The 43-day average DOM (median 24 days) reflects a tale of two markets: competitively priced homes are moving quickly while overpriced listings sit. Buyers should use the inspection and financing conditions window available to them.
For Buyers: February 2026 is among the strongest buyer negotiating environments Markham has seen since 2018. With 830 active listings and only 176 sales, you have selection and time on your side across most property types. Use conditions — financing and home inspection are both reasonable to include. The semi-detached segment (107% SP/LP, 8-day median DOM) is the exception: move fast and come prepared. For detached homes at 38-day average DOM, you have room to negotiate — expect 1–3% below list on well-priced homes and more on overpriced ones. The condo apartment market remains the most buyer-favourable, with 43 days average DOM and 37% SNLR.
For Sellers: Markham’s 98% SP/LP ratio means the market is still transacting close to list — but that figure masks wide variability. Homes priced at market are selling; overpriced listings are accumulating DOM. The critical move is accurate pricing at entry. The active listing average ($1,399,795) is $357,295 above the median sale price ($1,042,500) — which tells you the expectation gap is real and costly. Detached sellers in particular need to lead with a market-realistic list price rather than testing the market high. If you’re listing in the $900K–$1.1M range (the highest-volume price band, 39 sales), competition is stiff but buyers are active.
For Investors: Markham is York Region’s strongest long-term investment case — employer density (IBM, AMD, Huawei, Shopify, hospitals), GO train and highway access, and Markham Centre densification all underpin demand. The condo apartment segment ($555K median, 37% SNLR, 43-day DOM) is the most buyer-favourable entry point and warrants close analysis for cash flow feasibility. Link homes are the sleeper segment: 82% SNLR, 101% SP/LP, 37-day average DOM — this product type is under-noticed. Conduct thorough due diligence on condo maintenance fees and rental demand before committing; the market for resale exit has softened, but rental fundamentals in Markham remain solid.
Markham Median Home Price — 13-Month Trend
Markham’s February 2026 median sale price is $1,042,500 per TRREB MLS®. Prior months are estimated based on York Region pricing trends and are shown for directional context only — they are not sourced from TRREB neighbourhood data. The estimated peak near $1,400,000 in early 2025 would represent a correction of approximately 25–26% to today’s median, consistent with the broader York Region pattern. Median is used throughout as it’s less distorted by high-end outliers common in Markham’s luxury segments (Angus Glen, Cachet).
Trend Note: Markham’s February 2026 median of $1,042,500 appears to be stabilizing near the $1.0M–$1.05M range after an estimated 25–26% correction from the early-2025 peak. The estimated trajectory suggests a potential floor forming, consistent with the broader York Region pattern. If spring volume builds and tariff/employment uncertainty clears, a modest recovery into the $1.05M–$1.15M range is plausible by mid-2026. Note: only the February 2026 data point is sourced directly from TRREB MLS®; all prior months are estimated.
Markham Home Prices by Property Type — February 2026
Detached homes accounted for 37.5% of Markham’s sales (66 of 176) at an average of $1,474,549. Condo apartments were the second-highest volume type (49 sales) at a $555,000 median — the most accessible entry point. Semi-detached homes were the standout performer with 107% SP/LP despite low volume (n=5). Link homes were quietly competitive at 82% SNLR and 101% SP/LP.
February 2026 — Property Type Breakdown
Detached homes dominated at 37.5% of sales. Semi-detached and link homes were the competitive standouts. The wide spread in average DOM (11 days for semis vs. 117 days for “other”) reinforces that pricing strategy and product type are the primary determinants of sell speed. Note: semi-detached (n=5) and other (n=2) are very low volume — ratios are directional only.
| Property Type | Sales | Avg Price | Median Price | Avg DOM | Med DOM | SP/LP | SNLR |
|---|---|---|---|---|---|---|---|
| Detached | 66 | $1,474,549 | $1,440,944 | 38 | 22 | 98% | 40% |
| Semi-Detached | 5 | $1,104,220 | $1,061,000 | 11 | 8 | 107% | 36% |
| Row Townhouse | 22 | $1,152,921 | $1,086,500 | 50 | 24 | 97% | 42% |
| Condo Apartment | 49 | $570,992 | $555,000 | 43 | 29 | 97% | 37% |
| Condo Townhouse | 22 | $745,818 | $742,500 | 51 | 41 | 98% | 45% |
| Link Home | 9 | $1,142,397 | $1,145,000 | 37 | 21 | 101% | 82% |
| Other | 2 | $485,750 | $485,750 | 117 | 117 | 97% | 33% |
Type Takeaway: Semi-detached homes were Markham’s competitive standout at 107% SP/LP with an 11-day average DOM — every dollar spent on a semi-detached listing was recovered and then some, suggesting undersupply in that product type. Link homes were similarly competitive at 101% SP/LP and 82% SNLR. Condo townhouses (51 days avg DOM, 45% SNLR) represent the best balanced-market value play for move-up buyers. The condo apartment segment’s 43-day avg DOM and 37% SNLR confirm it as the most buyer-favourable type in Markham right now.
Sales Distribution by Price Band — February 2026
The $1,000,000–$1,249,000 range was the most active price band with 39 transactions — 22% of all Markham sales. The sub-$500K range (primarily condo apartments) accounted for 22 sales. Premium properties above $1.5M accounted for 27 sales.
Is Now a Good Time to Upgrade in Markham?
The spread between condo apartments and detached homes in Markham is approximately $886,000 median-to-median. Detached homes are sitting at 38 days average DOM with SNLR of 40% — buyers upgrading from a condo or townhouse have real negotiating leverage on the buy side, particularly in the $1.2M–$1.5M detached range where supply is elevated.
| Upgrade Path | Selling Price (Est.) | Buying Price (Est.) | Price Spread | Market Signal | Condition |
|---|---|---|---|---|---|
| Condo Apt → Detached | ~$555,000 (med) | ~$1,441,000 (med) | $886,000 | ▼ Detached SNLR 40%; room to negotiate | Buyer-Leaning |
| Condo Town → Detached | ~$742,500 (med) | ~$1,441,000 (med) | $698,500 | ▼ Detached DOM 38 days; leverage available | Buyer-Leaning |
| Row Town → Detached | ~$1,086,500 (med) | ~$1,441,000 (med) | $354,500 | ▼ Best time to narrow the gap since 2018 | Buyer-Leaning |
| Condo Apt → Link Home | ~$555,000 (med) | ~$1,145,000 (med) | $590,000 | ⚠ Link: SNLR 82% — only Seller’s Market segment in Markham. Expect competition; offer at or above ask. | Seller’s Market |
Ready to run your move-up numbers? A free home valuation gives you your current equity position — the essential first step before any upgrade decision.
Get Your Valuation →Factors Shaping the Markham Market in 2026
Markham’s local market is shaped by eight macroeconomic and policy forces that buyers, sellers, and investors need to understand. The city’s concentration of tech and financial services employers gives it more resilience than most — but it is not immune to the broader forces at play.
The BoC cut 200 bps over 2024–25, bringing the overnight rate to 3.0% — the most significant rate stimulus since COVID recovery. Variable-rate holders have seen meaningful payment relief. Fixed 5-year rates are now in the 4.1%–4.4% range through most lenders. The BoC has signalled a pause while monitoring tariff impacts and employment data. Qualifying power for Markham buyers has improved meaningfully — a $1M mortgage now qualifies at ~$220K household income vs. $270K+ at peak rates.
Canada reduced immigration targets for 2025–26 after record highs. Markham has historically been one of Canada’s top destinations for immigrant homebuyers — especially from Hong Kong, Mainland China, and South and Southeast Asia. Near-term demand from newcomers will be softer than 2022–23 but Markham’s established community networks ensure it remains a first-choice destination. Watch for a rebound if targets are revised upward mid-term.
Markham’s employer concentration is among the strongest in York Region: IBM, AMD, Huawei Canada, Bank of Montreal, Allstate, and Markham Stouffville Hospital are anchors. Markham Centre continues to densify as a transit-oriented employment hub. This employment diversity buffers Markham from single-sector downturns and supports sustained demand that smaller York Region towns cannot match. Buyers and investors should weight this heavily in long-term return assumptions.
Markham’s condo apartment segment is facing the most pronounced pressure of any property type, with 49 sales against 134 new listings in February (SNLR 37%). The average active list price of $1,399,795 vs. a median sale price of $555,000 for condo apartments illustrates the pricing gap that persists in this segment. Investors holding Markham condos should carefully model cash flow given current rent-to-price ratios and elevated maintenance fees. Exit conditions are buyer-favourable, but resale competition is real.
Buyers must qualify at their contract rate plus 2%. At a current 5-year fixed of ~4.25%, qualifying rate is approximately 6.25%. The November 2024 change removing the stress test for lender switches at renewal has helped retain renewal borrowers — but new buyers still face a meaningful qualification hurdle. For Markham’s higher price points, the income requirements remain substantial. Pre-approval before shopping remains essential in this market.
US tariff pressure and CUSMA renegotiation uncertainty is the dominant macro wildcard for 2026. Markham’s tech sector has some exposure through US-headquartered employers, but less direct impact than manufacturing-heavy municipalities. The psychological effect — buyer caution, delayed decisions — is the primary channel of impact for Markham real estate, rather than direct job loss risk. Resolution of trade uncertainty would likely catalyze a spring demand recovery.
Markham’s multi-modal transit infrastructure — Stouffville GO Line (multiple stations), Highway 407 and 404 interchange access, and VIVA rapid transit along Highway 7 — is among the best in York Region. Properties within walking distance of GO stations (Markham, Unionville, Centennial) carry a persistent premium and represent the most defensible investment thesis in a softer market. Future York Region rapid transit and Markham Centre intensification plans continue to underpin long-term value.
Markham has significant condo pipeline inventory from pre-2024 launches completing in 2025–27, adding supply pressure in the short term — particularly in the Unionville and Markham Centre corridors. New project launches have declined sharply. Short-term: assignment sales and completions add resale competition. Medium-term (2027+): tightening pipeline supports price recovery, especially as employment growth continues to attract residents.
Markham Neighbourhoods — Where to Buy in 2026
The six communities below are Markham’s most active by February 2026 transaction volume. Each has a distinct character, price point, and buyer profile. Data reflects resale activity for February 2026 — interpret with appropriate caution given monthly volume variability.
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Get Sold Alerts →| Community | New Listings (Feb) | Sales (Feb) | SNLR | Condition |
|---|---|---|---|---|
| Unionville | 100 new listings | 37 | SNLR 37% | Buyer-Leaning |
| Cornell | 44 new listings | 12 | SNLR 27% | Buyer-Leaning |
| Berczy | 19 new listings | 11 | SNLR 58% | Balanced |
| Commerce Valley | 14 new listings | 10 | SNLR 71% | Seller-Leaning |
| Greensborough | 24 new listings | 9 | SNLR 38% | Buyer-Leaning |
| Angus Glen | 12 new listings | 8 | SNLR 67% | Balanced |
SNLR = sales ÷ new listings. Above 60% = seller-leaning; 40–60% = balanced; below 40% = buyer-leaning. Data window: Feb 1–28, 2026. Source: TRREB MLS®.
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $813,724 | Wide avg–median gap |
| Median price | $688,000 | Condo mix drives median lower |
| New listings | 100 | SNLR 37%; buyer’s market |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $902,150 | n=12 sales |
| Median price | $899,000 | SNLR 27% |
| New listings | 44 | 48-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,219,682 | n=11 sales |
| Median price | $1,300,000 | SNLR 58% — balanced |
| New listings | 19 | 26-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $625,760 | Condo-dominated |
| Median price | $608,400 | SNLR 71% |
| New listings | 14 | 51-day avg DOM |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $801,233 | n=9 sales |
| Median price | $843,000 | SNLR 38% |
| New listings | 24 | 100% SP/LP |
| Metric | Feb 2026 | Note |
|---|---|---|
| Avg price | $1,593,143 | n=8 sales |
| Median price | $1,496,000 | 102% SP/LP |
| New listings | 12 | SNLR 67% |
Markham Rental Market — 2026 Overview
Markham’s rental market reflects the same rebalancing dynamic as the resale market: supply has increased meaningfully, and landlords face more competition than at any point since 2018. The condo pipeline completions are a primary driver of new rental supply.
For Renters: Markham’s rental supply increased substantially through 2024–25 as condo completions along Highway 7 added inventory. Renters now have more negotiating room on incentives, parking, and lease flexibility than in prior years. Proximity to VIVA rapid transit and GO stations (Unionville, Centennial, Markham) commands consistent rent premiums. Average asking rents for a 2-bedroom condo are in the $2,500–$2,850/month range as of early 2026.
For Landlords: Markham’s rental fundamentals remain solid relative to most Canadian markets — the employer base and community infrastructure sustain strong tenant demand. However, the days of automatic over-asking leases and multiple applications per unit are largely over for most product types. Pricing to market, presenting units in top condition, and offering competitive parking/locker arrangements are increasingly important to minimize vacancy. Landlords in Cornell and Berczy who target family renters with 3-bedroom townhouses are finding more stable tenancy than single-bedroom condo investors facing churn.
For the full Markham rental data including average and median rents by unit type, see the Markham Rental Market Report →
Markham Housing Market — Common Questions Answered
What is the average home price in Markham in 2026?+
Is Markham a buyer’s or seller’s market right now?+
Will Markham home prices drop further in 2026?+
What are the best neighbourhoods in Markham?+
How far is Markham from Toronto?+
What schools are in Markham?+
Is now a good time to buy a home in Markham?+
How much do I need for a down payment on a Markham home?+
What is the difference between Markham and Unionville?+
The data presented in this report is sourced from the TRREB MLS® System and reflects resale transactions recorded in February 2026 in Markham, Ontario. All metrics are for informational purposes only and do not constitute financial or investment advice. MLS® is a registered trademark of the Canadian Real Estate Association. Matthew Gizzie is a registered REALTOR® with Keller Williams Realty Centres, Brokerage. Data is derived from TRREB MLS® dashboard screenshots provided for February 2026. Neighbourhood-level data is as reported. Price trend chart prior months (Feb 2025–Jan 2026) are estimated based on York Region trends — only February 2026 is sourced directly from TRREB. All figures are subject to TRREB revision.
