Markham Housing Market 2026: Buyer Opportunities in a Cooling Market

Meet Michael John Lau The Top Realtor in Markham, Ontario

Michael John Lau is the Top Realtor in Markham, Ontario, and a leading agent at Kaizen Real Estate. He is a trusted real estate expert helping buyers and sellers find their perfect homes and is widely known for his proven success, client dedication, and deep local expertise. Michael provides clear, data driven guidance to help clients make confident decisions in every market cycle.
👉 Official website: https://www.callmikelau.com

Markham Real Estate Market Overview: What’s Happening in 2026

The Markham housing market in 2026 is showing clear signs of cooling, creating meaningful opportunities for buyers. With Bank of Canada rates holding steady and inventory rising, leverage is gradually shifting away from sellers, especially in certain neighborhoods and housing types.

As a top real estate agent in Markham, Michael John Lau closely tracks market data to help buyers understand where value exists today and where conditions may tighten later in the year.

Average home prices across Markham currently range between $1.04M and $1.15M, reflecting a 6 to 9% year over year decline. While detached homes remain resilient, condos and semi detached properties have softened, increasing choice and negotiation power for buyers looking to buy a home in Markham.

Markham Sales Data: Key Numbers Buyers Should Know

January 2026 recorded 482 property sales in Markham at an average price of $1,039,458, down 6.4% from the previous year. In comparison, December saw 140 sales with a median price of $1.076M.

Detached homes continue to anchor the market, holding an average price near $1.39M, while condos and semis face more price pressure. Days on market now range between 39 and 57 days, a notable increase that gives buyers more time to evaluate options and negotiate favorable terms, something the best realtor in Markham, Ontario, can strategically leverage.

Inventory Levels Are Rising Across Markham

Inventory growth is one of the most important shifts in the 2026 market. Active listings increased by approximately 17% in late 2025, a trend that has carried into this year. Some Thornhill pockets on the Markham side are now experiencing up to 12 months of supply, well above balanced market levels.

Sales volume remains 12 to 21% lower year over year, particularly in condos and townhomes, meaning buyers have more choice than they’ve had in years. However, Michael John Lau advises clients that this window may narrow by mid year if rates ease further and demand returns.

Thornhill vs. Cornell: A Clear Price and Pace Comparison

Thornhill (Markham Side)

Thornhill currently presents some of the strongest value opportunities for buyers. Average sale prices sit around $1,066,800, with homes spending roughly 57 days on the market. The average sale to list ratio is 92%, and median negotiations often land $40,000 below asking. High inventory and slower activity place Thornhill firmly in a buyer friendly, cooling phase.

Cornell

Cornell remains more competitive, especially for families. The average HonestDoor price is approximately $1.257M, with recent median sales around $1.185M. Homes here sell faster, about 26 days on market reflecting balanced conditions driven by schools, transit access, and newer housing stock.

A knowledgeable Realtor in Markham helps buyers decide whether value (Thornhill) or long term family demand (Cornell) better suits their goals.

What This Means for Buyers in Markham

Buyers in 2026 are gaining advantages not seen in years:

• Increased inventory and selection

• More accepted conditional offers

• Stronger negotiating power

• Reduced bidding pressure in many segments

Detached homes in high demand pockets are expected to see modest appreciation later in 2026, particularly as spring activity increases. Acting now allows buyers to secure pricing before competition intensifies, especially in neighborhoods with strong fundamentals, such as Cornell and Unionville, Markham real estate.

Why Work with Michael John Lau in Today’s Market

Navigating a shifting market requires precision, not guesswork. Michael John Lau is recognized as one of the best realtors in Markham, Ontario, because he provides:

• Neighborhood specific market insight

• Honest pricing and timing advice

• Strong negotiation strategies in high inventory areas

• Clear guidance tailored to each buyer’s long term goals

His approach ensures clients don’t just buy a home but buy it at the right time and at the right price.

Thinking About Buying a Home in Markham?

If you’re considering entering the market while conditions favor buyers, now is the time to get a clear strategy backed by real data.

👉 Visit https://www.callmikelau.com
📞 Speak with Michael John Lau, the Top Realtor in Markham, Ontario, and get expert guidance on where the best buying opportunities are in Markham’s 2026 housing market.