Blog > Are Markham Condo Prices Falling in 2026? What Buyers and Owners Should Know
Are Markham Condo Prices Falling in 2026? What Buyers and Owners Should Know
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Are Markham condo prices falling in 2026?
Not sharply, based on the latest quarterly data. TRREB’s condo report shows the median Markham resale condo apartment sold for $581,250 in the first quarter of 2026, about 1.2% higher than the $574,269 median a year earlier. The average price fell about 15%, to $593,901, but that mostly reflects which units sold, not a broad drop. The market did get slower: units took 43 days to sell instead of 36, and sold at 97% of asking instead of 99%. Across the GTA, the average condo price fell 9.1% year over year. Markham condos are holding value better than many areas, but buyers have more time and room to negotiate.
What the Numbers Show
TRREB publishes condo apartment results for each city every quarter. Here is Markham’s first quarter of 2026 compared with the same quarter in 2025:
| Markham condo apartments | Q1 2025 | Q1 2026 |
|---|---|---|
| Sales | 152 | 141 |
| Median price | $574,269 | $581,250 |
| Average price | $696,757 | $593,901 |
| New listings | 531 | 455 |
| Active listings (end of quarter) | 208 | 256 |
| Sold price vs asking | 99% | 97% |
| Average days on market | 36 | 43 |
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, looks at the median, days on market and recent sales in the same building before drawing conclusions, because a single average can be misleading in a market this small.
Why the Median and Average Tell Different Stories
The average price adds up every sale and divides by the number of sales. A few large, expensive units can push it up. In the first quarter of 2025, Markham’s average was more than $120,000 above its median, a sign that several higher-priced units sold that quarter. In 2026, the average and median were much closer.
The median is the middle sale, so it is less affected by a handful of large units. That is why the median is the better guide here. It shows prices were roughly flat, while the average makes the drop look much bigger than most owners experienced.
The Market Is Slower, Even If Prices Are Steady
Prices are only part of the picture. Other signs point to a softer market for condo sellers:
- More choice. Active listings at the end of the quarter rose from 208 to 256, about 23% more.
- More time. The average condo took 43 days to sell, a week longer than a year earlier.
- More negotiating. Units sold at 97% of asking on average, down from 99%.
Across the whole market, Markham had about 9 months of inventory in September 2026, according to Wahi. For more on what that means, see whether Markham is a buyer’s market right now.
Want to know what units in your building are selling for? Call Michael John Lau, REALTOR®, at (416) 700-0286 for recent sales and active competition in your building.
New Condos Versus Resale Condos
The new condo market across the Greater Toronto and Hamilton Area is under more pressure than resale. Urbanation reported on 20 July 2026 that:
- Developers held a record 5,001 completed but unsold units, up 68% from a year earlier.
- Completed, unsold new units were asking an average of $1,186 per square foot.
- Resale units in projects registered in the last three years averaged $830 per square foot.
That gap explains why many buyers who signed pre-construction agreements years ago are closing above today’s resale values. If that is your situation, read what happens if your pre-construction condo appraises low. For buyers today, it also means resale condos often offer more space for the money than new units.
What It Means for Condo Buyers
- Compare within the building. Recent sales of similar units in the same building matter more than city-wide averages.
- Check the condo’s health. Review the status certificate, reserve fund and monthly fees with your lawyer.
- Use the time. With units taking longer to sell, conditions on financing and the status certificate are easier to include.
- Consider all-in cost. Fees, property tax and parking can make two similar prices very different.
First-time buyers can see how much down payment you need in Markham to plan ahead.
What It Means for Condo Owners and Sellers
If you own a Markham condo, steady median prices are good news. But selling takes more preparation than it did a few years ago. Price from recent sales in your building, present the unit well, and expect buyers to compare it with several others. Why Markham homes are selling below asking explains how pricing affects time on market.
If you are not in a hurry, compare selling now with renting the unit for a period. Look at the rent you could realistically get, your mortgage, condo fees and property tax, and how long you would need to hold. A clear side-by-side comparison often makes the decision easier.
Ultimately, the decision is yours. The goal is to make sure you have all the information.
Next Steps
- Markham condos: compare buildings, fees and recent sales.
- Request a free home evaluation: find out what your condo could sell for today.
- First-time buyer services: plan your first condo purchase step by step.
Frequently Asked Questions
Are condo prices falling in Markham?
Not sharply. TRREB data shows Markham’s median condo apartment price was $581,250 in the first quarter of 2026, about 1.2% higher than a year earlier. The market is slower, with longer days on market.
What is the average condo price in Markham?
TRREB reported an average Markham condo apartment price of $593,901 in the first quarter of 2026, down from $696,757 a year earlier. The median, which is less affected by a few large sales, was $581,250.
Why did Markham’s average condo price drop so much?
Mostly because of which units sold. In early 2025, several higher-priced units pushed the average well above the median. In early 2026, the average and median were much closer.
How long does it take to sell a condo in Markham?
Markham condo apartments took an average of 43 days to sell in the first quarter of 2026, up from 36 days a year earlier.
Are new condos or resale condos better value in the GTA right now?
Urbanation reported in July 2026 that completed, unsold new units were asking an average of $1,186 per square foot, while resale units in recently built projects averaged $830 per square foot. Resale often offers more space for the money.
Is it a good time to buy a condo in Markham?
Buyers have more choice and more time than in recent years. It makes the most sense when the monthly costs, including condo fees, fit your budget and the building suits your long-term plans.
Work With Michael John Lau in Markham
Michael John Lau helps Markham condo buyers and owners look past the headlines to what is happening in their building. That includes recent sales, active competition, condo fees and the status certificate, so every decision is based on clear facts. The goal is to help you buy or sell with confidence.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Buying or selling a Markham condo?
Michael John Lau reviews recent sales in your building and helps you price, compare and negotiate with clear numbers.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Markham condo figures are from TRREB’s Condo Market Reports for Q1 2025 and Q1 2026. GTA condo figures are from TRREB’s Q1 2026 report. New condo figures are from Urbanation (20 July 2026). Market inventory is from Wahi (26 September 2026). TRREB’s Q2 and Q3 2026 condo reports may show different results. This article is general information, not financial or legal advice. Have a real estate lawyer review any status certificate.