Jun 2026
Average Price
$939,780
Higher interest rates usually slow buyer activity, while lower rates tend to bring buyers back into the market. The changes in the Markham housing market trends reflect this exact same cycle. Buyer demand was strongest in Markham from 2016 to early 2017 and again from mid 2021 to early 2022, when interest rates were sitting at record lows. Right now, although interest rates have eased in recent months, they remain well above their lowest levels, which is still making many buyers hesitate and keeping market activity softer. The current active inventory levels, meanwhile, are far higher than the very tight conditions seen from late 2022 to early 2023. New listings continue to follow seasonal patterns, climbing during warmer months and slowing as cooler weather arrives.
Low interest rates kept buyer demand strong through most of this period, keeping transaction volumes mostly between 400 and 700 units. Inventory levels, meanwhile, tightened. Active listings steadily moved down from nearly 1,900 homes in mid-2016 to fewer than 800 properties by January 2017.
As interest rates started moving higher, home sales slowed compared to the earlier boom years. Inventory, on the other hand, remained higher throughout this stretch, with active listings commonly ranging between 1,400 and 2,300 homes.
Following the market slowdown during the early months of the pandemic, activity quickly regained momentum in the second half of 2020 and continued surging into mid-2021, supported by ultra-low interest rates. Sales crossed 400 transactions and later climbed beyond 500 and even 600 transactions. During the same period, inventory stayed lower than in earlier years, according to Markham housing market statistics.
After the busy conditions seen during 2020 and early 2021, sales activity settled into a slower pace. Inventory also remained significantly tighter than in previous years, with active listings often holding between 600 and 1,200 homes.
The Markham housing market report indicates that the market showed modest signs of improvement during this phase, with monthly sales frequently landing between 200 and 300 transactions. Inventory also steadily expanded during this year, rising from roughly 740 active listings in January to nearly 1,800 homes by October.
Inventory continued building through this period and consistently stayed elevated, usually ranging from 1,250 to 2,100 active listings. However, buyer activity did not strengthen at the same pace, with monthly sales generally staying between 160 and 300 homes. Based on the latest housing market forecast for 2026, Markham home sales are expected to remain stable without any major jump this year.
Buyer demand remained strong for most months, with the absorption rate regularly sitting above 60%, and at times, climbing close to 80%.
According to Markham housing market statistics, the absorption rate generally remained between 30% and 60% throughout this phase. Toward the end of 2019, market activity started gaining momentum again.
After a brief slowdown during the early months of the pandemic, buyer demand rebounded. By late 2020 and throughout 2021, the market conditions became highly competitive once again. The absorption rate frequently stayed above 60% and reached 87.1% in November 2021.
The Markham housing market opened the year with the absorption rate near 70% before easing through the spring and early summer months, eventually settling closer to 55% toward year-end.
Buyer activity started gaining momentum again in 2023 and carried into early 2024. In many months, the absorption rate moved above 50%, while some spring months in 2023 even crossed the 70% mark.
From mid-2024 onward, the real estate market in Markham entered a steadier phase. The absorption rate mostly remained between 30% and 45%, with only a handful of months moving above 50%.
Source: Based on analysis of historical information made available from respective real estate boards.
Detached homes dominated the market with 16,878 sales while also commanding the highest average selling price at $1.56M.
Semi-detached houses recorded 2,566 transactions, with the average sale price coming in at $1.05M.
Freehold townhouses saw strong activity, recording 5,135 sales and an average price of $1.03M.
Out of freehold and condo townhouses, the latter remain the more affordable choice. They recorded an average selling price of $786K along with 3,104 transactions.
According to the Markham housing market report, condo apartments remain the second-most active property type by sales volume, recording 9,646 sales. With an average price of $609K, condos continue to be the most affordable option out of all property types.
Over the long run, rental demand in the Markham real estate market has remained strong, which has been clearly reflected in its price growth. Rents in Markham are up 58.66% over the past ten years and 14.41% over the last five years. Currently, however, the market is moving through a short-term slowdown.
Based on Markham house price history, average rents climbed from around $1,800 to roughly $2,200-$2,400 by the end of 2019. Leasing activity also picked up, with monthly leased units sitting between 200 and 440.
Leasing activity slowed sharply during the spring months, with April recording just 136 leased units. The market, however, gradually stabilised later in the year. Average rents remained steady at approximately $2,300-$2,400 throughout most of the year.
Both Markham rental home prices and leased units moved upward again. Average rents increased from roughly $2,300 to nearly $2,900-$3,200 by mid-2023, while leased activity commonly ranged between 250 and 450 units.
Rental prices remained exceptionally high throughout 2024, typically ranging from about $2,900 to $3,200. Leasing activity also stayed strong, with transactions usually landing between 300 and 470 units. The highest average rent of the decade in Markham was recorded in August 2024 at $3,269.
According to Markham housing market statistics, leasing activity reached record levels in 2025 and early 2026. Meanwhile, average rents eased slightly from earlier peaks. Monthly leased units frequently ranged between 300 and 500, while average rents hovered around $2,650-$3,000.
Markham’s top-rated schools, strong economy, multicultural atmosphere, and prime GTA location have kept its housing demand steady over the years. And this robust demand has supported consistent price growth and helped position the Markham housing market among the fastest-growing real estate markets in Ontario. Over the past decade, the average house price in Markham has increased by an impressive 39.95%. In the short-term, however, the real estate market in Markham is going through a correction and rebalancing phase – the one that has been re-shaping housing markets post-pandemic. Currently, home prices in Markham are down 4.97% year-over-year and 1.76% year-to-date. This house price trend shift in Markham, along with greater negotiating power (right now, homes are staying on the market longer), is giving buyers the upper hand. Homebuyers who were previously priced out are finally getting a window of opportunity to enter the market and take advantage of new incentives like the HST rebate.
Buyer demand remained extremely strong during this period, fueled by historically low interest rates and a healthy economy. Average sold prices generally ranged from about $720K to $900K, with April and May 2017 pushing past the $930K mark.
Property prices eased after new mortgage lending rules were introduced. The market remained fairly balanced and steady throughout 2018 and most of 2019.
The market shifted again in 2020 as lower interest rates and remote work trends brought more buyers back into the market. Prices began rising rapidly from mid 2020 through 2021 and into early 2022. Average sold prices climbed from roughly $800K-$850K in 2020 to more than $1.3M by early 2022.
During the second half of 2022 and into early 2023, prices softened as the Bank of Canada introduced consecutive rate hikes. Average sold prices mostly ranged between about $1.05M and $1.19M.
The market remained relatively steady at higher price levels, with most months recording average sold prices between roughly $1.10M and $1.25M.
From late 2024 through 2025 and into early 2026, prices gradually moved lower compared to earlier peaks. Average sold prices were generally between about $960K and $1.15M. As of April 2026, Markham property prices stand at $1.0M, while the average days on market sit at 23.