Oct 2026
Average Price
$920,273
Higher interest rates can usually slow buyer activity, while lower rates tend to encourage buyers to return to the market. The changes in the Markham housing market trends seen throughout this period (mid-2016 to mid-2026) reflected this exact same cycle. Buyer demand was strongest across the Markham property market from mid 2016 to early 2017 and once again from mid 2020 to early 2022, when interest rates were sitting at record lows.
Then, during the post-pandemic years, from mid 2022 to mid 2026, even though interest rates had eased slightly later in the period, they were still well above their lowest levels, leaving many buyers on the fence and keeping market activity softer. Meanwhile, active inventory levels during this post-pandemic stretch were considerably higher than the particularly tight conditions seen from late 2022 to early 2023. Throughout the entire period under review, new listings in Markham continued to follow seasonal trends, climbing during the warmer months and slowing as cooler weather arrived.
Low interest rates kept buyer demand strong through most of this period, keeping transaction volumes mostly between 260 and 630 units. Inventory levels, meanwhile, remained at one of its tightest levels, generally ranging between 600 and 1,300 homes.
As interest rates started moving higher, home sales slowed compared to the earlier boom years. Property transaction volumes were generally in the range of 160-450 units during this period. Inventory, on the other hand, remained higher throughout this stretch, with active listings commonly ranging between 1,000 and 2,140 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, supported by ultra-low interest rates. During the same period, inventory stayed lower than in the previous phase, according to Markham housing market statistics. Available listings held within a range of 500 to 1,760 homes, while home sales remained mostly between 300 and 696 units from mid 2020 to early 2022.
After the busy conditions seen in the earlier phase, sales activity settled into a slower pace, generally remaining between 150 and 430 units. Inventory also remained significantly tighter than in previous years, with active listings often holding between 600 and 1,300 homes.
The Markham housing market report indicates that home buying activity cooled further, with sales volumes generally ranging from 190 to 320 homes. Inventory, on the other hand, 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 1,260 to 2,120 active listings. Buying activity stayed at relatively low levels, with monthly sales volumes generally staying between 160 and 350 homes.
As of the latest figures, there have been 257 sales in the Markham housing market and 1,659 homes are currently available for sale.
Source: Based on analysis of historical information made available from respective real estate boards.
Out of all the properties covered in this study, sales activity was highest among detached homes in Markham (total sales volumes: 16,143 units). This property type also commanded the highest average selling price at $1.56M.
Semi-detached houses recorded 2,456 transactions, with the average sale price coming in at $1.05M.
Markham freehold townhouses also saw relatively strong activity, recording 5,044 sales and an average price of $1.04M.
Condo townhouses recorded an average selling price of $793.70K along with 3,068 transactions.
According to the Markham housing market report, condo apartments remained the second-most active property type by sales volume, recording 9,400 sales. With an average price of $616.68K, condos continued to be the most affordable option out of all property types.
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 35% and 55% 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 87.28% 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 close to 50%.
The current absorption rate is 43%, based on the latest Markham housing market statistics.
Between mid 2016 and mid 2026, Markham’s top-rated schools, strong economy, multicultural atmosphere, and prime GTA location have remained key factors in keeping its housing demand relatively steady. And this strong demand has almost consistently translated into long-term price growth, helping put the Markham housing market among Ontario’s fastest-growing real estate markets.
In the short term, the housing market experienced a series of shifts as changes in economic conditions, mortgage rates, buyer confidence and housing supply influenced buyer and seller behaviour. One of these major shifts was the correction and rebalancing that took place in the market after the pandemic, from mid-2022 to mid-2026. This shift in Markham house price trends, together with the greater negotiating power (homes were also comparatively staying on the market longer during those years), gave buyers the upper hand.
The latest housing market figures put the year-over-year change in the average house price in Markham at -14.02%. Over five and ten years, respectively, prices have recorded changes of -21.45% and 10.16%.
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 $740K to $930K, with April and May 2017 pushing past the $930K mark.
Property prices softened after the new mortgage rules came into effect, generally ranging between $740K and $820K. 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. It was during this period that Markham home prices hit their peak for the period under review – $1.37M in January 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 $1.18M.
The market remained relatively steady at higher price levels, with most months recording average sold prices between roughly $1.10M and $1.60M.
During this stretch, prices gradually moved lower compared to earlier peaks. From October 2024 to August 2026, Markham property prices were generally between about $940K and $1.14M.
According to the latest Markham housing market trends, properties currently have an average selling price of $ 920,273, and they are generally taking around 27 days to sell.
The Markham rental market isn’t one uniform market, with different neighbourhoods attracting different renters and offering distinct housing options. Unionville, for example, benefits from its mix of condos, the historic Main Street area and Unionville GO Station. This makes the neighbourhood appealing to renters who want Markham living with convenient access to Toronto and the wider GTA. Cornell, by contrast, has a more suburban, family-oriented character, with townhouses and larger homes more prominent than condos. Its proximity to Markham Stouffville Hospital and local transit also adds to its appeal.
At times, the Markham rental market has seen sharper short-term shifts as tenant preferences and broader market conditions have changed. Over the longer term, however, the market has remained relatively stable. Population growth, ongoing development, high homeownership costs and limited purpose-built rental supply continued to support rental demand.
The latest figures show that rents in Markham have seen a -5.73% change year over year. Looking at the longer-term trend, rents have changed by 11.12% over five years and 57.10% over ten years.
Based on Markham house price history, average rents climbed from around $1,850 in August 2016 to roughly $2,200-$2,400 by 2019. Leasing activity also picked up, with monthly leased units sitting between 180 and 440.
Leasing activity slowed during the first half of the year, with April recording just 136 leased units. The market, however, gradually stabilized later in the year. Average rents remained steady at approximately $2,300-$2,480 throughout most of the year.
Both Markham rental prices and leased units moved upward again. Average rents increased from roughly $2,300 in January 2021 to nearly $2,900-$3,200 toward the end of this phase, 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 250 and 460 units. The highest average rent of the decade under review in Markham was recorded in August 2024 at $3,269.
According to Markham housing market statistics, leasing activity remained at one of its highest levels during this period, with 300 to 560 units leased. Meanwhile, average rents remained slightly below earlier peak levels, ranging from $2,650 to $2,980.
At the moment, the average rent in Markham stands at $ 2,735 and 569 homes are available for lease.