Blog > Is Markham a Buyer's Market? Markham vs Richmond Hill Inventory in 2026
Is Markham a Buyer's Market? Markham vs Richmond Hill Inventory in 2026
by
Not quite. In September 2026, TRREB's trend measures put Markham at a 40.5% sales-to-new-listings ratio and about 4.1 months of inventory, which is balanced. Richmond Hill was softer at 33.3% and about 5.6 months, which leans toward buyers. Both cities saw benchmark prices about 6% lower than a year earlier. Condo apartments are the softest segment in both, with Markham's condo benchmark down 9.70% and Richmond Hill's down 12.27%.
Buyers want to know if they finally have the upper hand. Sellers want to know if they should wait. The answer depends on two simple numbers: how many homes are for sale, and how fast they are selling.
Here is how Markham and Richmond Hill compare in September 2026, by city and by home type.
Michael John Lau is one of Markham's top real estate agents, with 430+ homes sold, a 5.0 rating across 81 Google reviews, and eXp ICON Agent awards in 2024 and 2025. He works on both sides of the Markham and Richmond Hill border, and these are the numbers he uses to set strategy for every buyer and seller.
| September 2026 | Markham | Richmond Hill |
|---|---|---|
| Sales | 245 | 172 |
| New listings | 729 | 584 |
| Active listings | 1,122 | 974 |
| Sales-to-new-listings ratio (TRREB trend) | 40.5% | 33.3% |
| Months of inventory (TRREB trend) | 4.1 | 5.6 |
| Average price | $1,125,353 | $1,189,203 |
| Median price | $1,051,000 | $1,079,000 |
| Sale-to-list price | 98% | 98% |
| Average days on market | 34 | 36 |
| MLS HPI composite benchmark (YoY) | $1,052,500 (-6.02%) | $1,157,700 (-6.33%) |
Key takeaways
- Markham: 245 sales, 729 new listings, 1,122 active listings in September 2026.
- Richmond Hill: 172 sales, 584 new listings, 974 active listings.
- TRREB trend months of inventory: Markham about 4.1, Richmond Hill about 5.6.
- Markham composite benchmark $1,052,500 (-6.02%); Richmond Hill $1,157,700 (-6.33%).
- Condos are the softest segment in both cities.
How do you tell a buyer's market from a seller's market?
Two common measures help:
- Sales-to-new-listings ratio (SNLR): sales divided by new listings. A common rule of thumb: below about 40% leans to buyers, 40% to 60% is balanced, and above 60% leans to sellers.
- Months of inventory: active listings divided by monthly sales. Under about 4 months tends to favour sellers, 4 to 6 is balanced, and over 6 favours buyers.
These are rules of thumb, not official definitions. TRREB publishes trend versions of both, which smooth out month-to-month swings.
Markham: balanced, with softer condos
Markham's trend SNLR of 40.5% and about 4.1 months of inventory put it right at the line between balanced and buyer-leaning. In September alone, 245 sales against 729 new listings gave a single-month ratio of about 33.6%, with about 4.6 months of inventory, softer than August's 282 sales and 584 new listings.
By type, detached homes had about 4.3 months of supply (462 active, 108 sales), while condo apartments had about 6.4 months (354 active, 55 sales). That means condo buyers have the most room to negotiate right now.
Richmond Hill: leaning toward buyers
Richmond Hill's trend SNLR of 33.3% and about 5.6 months of inventory lean toward buyers. In September, 172 homes sold against 584 new listings, with 974 active listings. Detached homes had about 6.6 months of supply (551 active, 84 sales), and the condo apartment benchmark fell 12.27% year over year.
Detached, townhouse and condo: how do they compare?
| MLS HPI benchmark (YoY) | Markham | Richmond Hill |
|---|---|---|
| Detached | $1,441,700 (-5.61%) | $1,514,400 (-6.51%) |
| Semi-detached / attached | $1,032,900 (-5.52%) | $1,011,800 (-4.62%) |
| Townhouse | $731,700 (-6.62%) | $781,200 (-4.96%) |
| Condo apartment | $517,200 (-9.70%) | $493,000 (-12.27%) |
More detail: Markham detached prices and Markham condo prices down 9.7%.
What this means for buyers
- You have more choice and more time than in recent years, especially for condos and Richmond Hill detached homes.
- Homes are selling for about 98% of asking on average, so there is room to negotiate, but well-priced homes on popular streets can still draw multiple offers.
- Watch interest rates. The Bank of Canada's October 28 decision may affect your budget.
See how buyer representation with Michael works.
What this means for sellers
- Price against recent sales, not last year's peak.
- Presentation matters more when buyers have choices.
- Know your competition: the listings in your price range and area, not the city average.
Read should I sell before spring 2027? or start with a free home evaluation.
General information only, not financial, legal or tax advice. Figures are from the sources listed and may change.
Frequently asked questions
Is Markham a buyer's market right now?
Markham was balanced in September 2026, with TRREB trend figures of a 40.5% sales-to-new-listings ratio and about 4.1 months of inventory. Condo apartments were softer, at about 6.4 months of supply.
Is Richmond Hill a buyer's market?
Richmond Hill leaned toward buyers in September 2026, with TRREB trend figures of a 33.3% sales-to-new-listings ratio and about 5.6 months of inventory.
Which is more expensive, Markham or Richmond Hill?
In September 2026, the composite benchmark was $1,157,700 in Richmond Hill and $1,052,500 in Markham. Detached benchmarks were $1,514,400 and $1,441,700.
How many homes are for sale in Markham?
TRREB reported 1,122 active listings in Markham in September 2026, including 462 detached homes and 354 condo apartments.
What is a balanced market?
A balanced market has roughly 4 to 6 months of inventory and a sales-to-new-listings ratio of about 40% to 60%. Neither buyers nor sellers have a strong advantage.
Are home prices falling in Markham and Richmond Hill?
Benchmark prices in both cities were about 6% lower in September 2026 than a year earlier, with condo apartments down the most.
Talk to a Markham REALTOR® who knows these streets
Want to know what kind of market your street is in? Michael John Lau can show you recent sales and listings in your exact area and price range.
Call (416) 700-0286Free home evaluationKeep reading
Sources
- TRREB Market Watch, September 2026
- TRREB MLS® HPI Public Tables, September 2026
- TRREB news release, October 6, 2026
Information is accurate to the best of our knowledge as of October 23, 2026 and may change. Not intended to solicit buyers or sellers currently under contract.
