Blog > Is Markham a buyers market right now?
Is Markham a buyers market right now?
Yes, by the most common measures. As of 26 September 2026, Wahi reported 152 Markham sales in September against 1,417 active listings, which works out to about 9 months of inventory. The Canadian Real Estate Association treats anything above 6.4 months as a buyer’s market. The median Markham home sold for $1,047,500, about $22,000 under asking, after an average of 32 days on the market. That gives buyers more time and more room to negotiate. It does not mean every home is a bargain. Well-priced homes on strong streets still sell, and the Greater Toronto Area saw new listings fall 14.1% in August, which could tighten supply later.
What the Numbers Say Right Now
Markham’s market has slowed sharply from a year ago. Here is how September 2026 compares with September 2025, based on Wahi’s Markham report of 26 September 2026:
| Measure | September 2025 | September 2026 |
|---|---|---|
| Homes sold | 265 | 152 (down about 43%) |
| Active listings | 1,495 | 1,417 |
| New listings | Not reported | 686 (down 11.6%) |
| Median sold price | Not reported | $1,047,500 |
| Median sold versus asking | Not reported | $22,000 below |
September figures were reported before the month closed, so final numbers will change slightly when the Toronto Regional Real Estate Board (TRREB) publishes its official September data in early October.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, reviews these numbers street by street with clients, because a city-wide average can hide very different conditions from one neighbourhood to the next.
How to Tell a Buyer’s Market From a Seller’s Market
Two simple measures do most of the work. The Canadian Real Estate Association (CREA) uses both in its national reports.
| Measure | Seller’s market | Balanced | Buyer’s market |
|---|---|---|---|
| Months of inventory | Below 3.6 | 3.6 to 6.4 | Above 6.4 |
| Sales-to-new-listings ratio | Above 65% | 45% to 65% | Below 45% |
- Months of inventory is how long it would take to sell every active listing at the current pace. Markham’s September figure was about 9 months.
- The sales-to-new-listings ratio compares sales with new listings in the same month. Markham’s September ratio was about 22% (152 sales against 686 new listings), well below the 45% line.
Both measures point the same way. For context, CREA puts the long-term national average at about 5 months of inventory and a ratio of 54.8%.
What a Buyer’s Market Means for Buyers
A slower market changes the conversation, not only the price.
- Conditions are back. Financing and home inspection conditions are easier to include when there is little competition.
- Time to compare. With homes sitting an average of 32 days, buyers can view a home twice and check recent sales on the same street.
- Terms matter as much as price. A closing date, included appliances or repairs can be worth negotiating.
- Not every home is soft. Homes that are priced right, well kept and on popular streets can still attract several buyers.
The biggest mistake buyers make in a slow market is offering far below value on every home. Sellers who priced fairly often reject low offers and wait. A better plan is to understand what similar homes have actually sold for, then make a clear, respectful offer. If you are new to the process, how the buying process works in Markham walks through each step.
Want to know how the market looks on your street? Call Michael John Lau, REALTOR®, at (416) 700-0286 for recent sales and listings near the homes you are watching.
What It Means for Sellers
Sellers are competing with more listings for fewer buyers. That puts more weight on three things:
- Price from recent sales, not old highs. Buyers compare your home with what sold nearby in the last few months.
- Preparation. Clean, bright and repaired homes stand out when buyers have many choices.
- Timing. Spring usually brings more buyers. The best time to sell a house in Markham explains the seasonal pattern.
A home that starts too high often sits, then sells for less after price reductions. Michael John Lau starts every sale with the date that matters to the seller, then builds the pricing plan backward from it. For more on presentation and pricing, see how to sell your house for top dollar in Markham.
Interest Rates and the Wider GTA Market
The Bank of Canada held its policy rate at 2.25% on 2 September 2026. It noted that inflation has hovered around 3%, mainly because of gasoline prices, while core inflation stayed close to 2%. The next rate announcement is on 28 October 2026.
Across the Greater Toronto Area, TRREB reported for August 2026:
- 5,057 sales, down 2.1% from August 2025.
- 12,075 new listings, down 14.1%.
- An average price of $993,410, down 2.7%.
- The MLS® Home Price Index composite benchmark down 4.5% year over year.
The drop in new listings matters. TRREB noted that if inventory tightens, prices could begin to rise again. A buyer’s market today is not a promise about next spring.
Is It a Good Time to Buy in Markham?
Nobody can time the market perfectly. A better question is whether buying fits your plan. Consider buying now if:
- You expect to stay at least five years, so short-term price swings matter less.
- Your mortgage pre-approval is in place and the payment fits your budget with room to spare.
- You have found a neighbourhood and home type that suit your family for the long term.
Waiting may suit you better if your job, income or timeline is uncertain. Ultimately, the decision is yours. The goal is to make sure you have all the information. To check your numbers, see how much down payment you need in Markham.
Next Steps
- Buying a home in Markham: how Michael helps buyers negotiate in a slower market.
- Use the mortgage calculator: test your monthly payment before you make an offer.
- Request a free home evaluation: see what your home could sell for in today’s market.
Frequently Asked Questions
Is Markham a buyer’s market in 2026?
Yes, based on September 2026 numbers. Markham had about 9 months of inventory and a sales-to-new-listings ratio of about 22%, both well inside the range the Canadian Real Estate Association describes as a buyer’s market.
What is the average home price in Markham right now?
Wahi reported a median sold price of $1,047,500 for Markham in September 2026, with homes selling a median $22,000 under asking. Prices vary widely by home type and neighbourhood.
How many months of inventory makes a buyer’s market?
The Canadian Real Estate Association treats more than 6.4 months of inventory as a buyer’s market and less than 3.6 months as a seller’s market. The long-term national average is about 5 months.
Should I wait for prices to drop further before buying in Markham?
No one can predict the bottom. New listings across the GTA fell 14.1% in August 2026, which could tighten supply. Buying makes the most sense when the home and payment fit your long-term plan.
Can buyers include conditions on offers in Markham now?
Yes. With fewer competing offers, buyers are more often able to include financing and home inspection conditions. Sellers still decide whether to accept them.
Is it a bad time to sell my Markham home?
Not necessarily. Homes that are priced from recent sales and well prepared still sell. Sellers who need to move should plan for more days on market and focus on pricing and presentation.
Work With Michael John Lau in Markham
Michael John Lau helps Markham buyers and sellers understand what the market is doing on their specific street, not only city-wide. That means reviewing recent sales, active competition and days on market before any offer or list price is set. In a buyer’s market, preparation and clear information make the biggest difference.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Thinking about buying or selling this fall?
Michael John Lau reviews recent sales and active listings on your street, so you can make your move 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 figures are from Wahi’s Markham housing market report dated 26 September 2026. GTA figures are from TRREB’s August 2026 release (3 September 2026). Market thresholds are from the Canadian Real Estate Association, and rate information is from the Bank of Canada announcement of 2 September 2026. This article is general information, not financial or legal advice. Speak to a mortgage professional about your borrowing and a lawyer about any contract.