Markham Housing Affordability in 2026: What Buyers and Sellers Need to Know About Prices, Rates, and Opportunity

Michael John Lau is the Top Realtor in Markham, Ontario, and a trusted real estate expert helping buyers and sellers find their perfect homes. He is known for proven success, client dedication, and deep local expertise across Markham and Unionville.
👉 Official website: www.callmikelau.com

Housing affordability is the defining real estate question for Markham in 2026. While prices remain high by GTA standards, stabilizing mortgage rates, rising inventory from new completions, and steady family driven demand are creating a more balanced market without the sharp price corrections many feared. For anyone planning to buy a home in Markham or sell this year, understanding how affordability is evolving is key to making smart decisions.

As a top real estate agent in Markham, I help clients cut through headlines and focus on what actually improves (or limits) affordability in today’s market.

What’s Driving Markham Housing Affordability in 2026

Mortgage Rates: The Biggest Affordability Lever

Since late 2025, Bank of Canada rate cuts and improved economic data have helped bring borrowing costs down. In early 2026, many 5 year fixed mortgage rates are stabilizing in the 3.5 to 4% range, a meaningful improvement from the 2023 to 2024 peak.

For buyers, this translates into real purchasing power:

• On a $1.1 million home, lower rates can increase affordability by $50,000 to $100,000 compared to peak rate conditions

• Monthly payments are more manageable, improving qualification under the stress test

This rate environment is encouraging sidelined buyers, especially families and professionals, to re enter the market.

Inventory and Supply: More Choice, Less Panic

New Completions Are Easing Pressure

Rising inventory from new condo and low rise completions across Markham and York Region is helping to rebalance supply and demand. While this does not signal a market crash, it reduces urgency and bidding pressure, particularly in entry level and mid range segments.

At the same time, population growth and hybrid work trends continue to support demand in family focused suburbs such as Wismer, Cornell, and Berczy Village, where lifestyle and school quality remain top priorities.

Markham Home Prices by Segment: 2026 Affordability Outlook

Detached Homes

• Average price (Q4 2025): ~$1.49 million

• 2026 outlook: Stable

Detached homes remain the least affordable segment, but also the most supply constrained. Low inventory in premium neighbourhoods like Unionville and Angus Glen continues to support values, even as buyers become more price conscious.

Townhouses

• Average price (Q4 2025): ~$1.19 million

• 2026 outlook: Improving affordability

Townhomes benefit from increased listings and softer competition, making them a key stepping stone for first time buyers and move up families. This segment offers one of the best balances of space, price, and long term value in Unionville, Markham real estate.

Condominiums

• Average price (Q4 2025): ~$697,000

• 2026 outlook: Best entry point

With a wave of new supply, condo price growth is capped in 2026. For first time buyers, this creates the most accessible entry into the Markham market, particularly near GO Transit lines and employment hubs.

Smart Buyer Strategies for 2026

If you’re planning to buy a home in Markham this year:

• Qualify early using stress tested rates (assume 5.25%+) to protect against future volatility

• Target townhomes or well located condos for better value and flexibility

• Consider pre construction or newly completed units, where selection and negotiation power are stronger

• Lock in your mortgage rate early if buying before mid year, as further rate cuts may pause

Working with the best realtor in Markham, Ontario, ensures you understand which properties truly offer affordability and which simply appear cheaper on paper.

What Sellers Should Expect in 2026

For sellers, the market remains healthy but less forgiving:

• Competitive pricing is essential, especially when a new supply is nearby

• Professional staging and presentation matter more than ever

• Expect 30 to 45 days on market, compared to the rapid sales of earlier cycles

• Rate sensitive areas like Unionville require sharper pricing to attract qualified buyers

Sellers who align their pricing with current affordability realities still achieve strong outcomes.

Why Markham Isn’t Facing a Price Crash

Despite improved affordability, several fundamentals continue to support Markham home values:

• Strong population and employment growth

• Limited long term freehold supply

• High quality schools and family amenities

• Continued demand from professionals and move up buyers

This combination points to stability, not steep declines, in 2026.

Get Expert Advice on Buying or Selling in Markham

Affordability isn’t just about price, it’s about timing, financing, and neighbourhood selection. Local expertise makes all the difference.

👉 Visit www.callmikelau.com to work with Michael John Lau, the Top Realtor in Markham, and get clear, strategic guidance tailored to today’s affordability conditions in Markham and Unionville.