Blog > Markham Condo Prices Down 9.7%: Should You Buy, Hold or Sell?
Markham's MLS HPI benchmark for condo apartments was $517,200 in September 2026, down 9.70% from September 2025. That is a benchmark for a typical unit, not the average sale price, which was $574,612 across 55 sales. With 354 active listings, buyers have more choice and more room to negotiate. Buying can make sense for long-term owners, holding can make sense if you do not need to sell, and selling works best with sharp pricing and strong presentation.
For years, a Markham condo felt like a sure thing. Today, owners are watching prices fall while new towers keep finishing. Buyers are wondering if this is the chance they waited for. Both groups are asking the same question: what now?
Here is what the September 2026 numbers say, and a clear way to think about buying, holding or selling.
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 has sold condos across Markham, from Downtown Markham to Angus Glen, and this guide reflects what he is seeing at showings and on offer nights.
| Condo apartments, Sept 2026 | Markham | Richmond Hill |
|---|---|---|
| MLS HPI benchmark | $517,200 | $493,000 |
| Year-over-year change | -9.70% | -12.27% |
| Sales | 55 | 34 |
| Average price | $574,612 | $574,564 |
| Median price | $535,000 | $529,250 |
| New listings | 206 | 113 |
| Active listings | 354 | 208 |
| Sale-to-list price | 98% | 98% |
| Average days on market | 40 | 46 |
Key takeaways
- Markham condo apartment benchmark: $517,200, down 9.70% year over year (September 2026).
- Average condo apartment sale price: $574,612 across 55 sales, at 98% of asking.
- 354 active condo listings against 55 sales works out to about 6.4 months of supply.
- Richmond Hill condo benchmark fell even more, 12.27%. York Region overall: 8.79%.
- New condo construction has slowed sharply, which may limit future supply.
What does down 9.7% actually mean?
The 9.7% figure is the change in the MLS Home Price Index benchmark for Markham condo apartments, which tracks the price of a typical unit over time. It is not the average sale price, and it does not include condo townhouses. In September 2026 the benchmark was $517,200, compared with about $572,800 a year earlier.
Actual sales tell a similar story. Fifty-five condo apartments sold in Markham at an average of $574,612 and a median of $535,000, at about 98% of asking price, after 40 days on average.
Why are Markham condo prices falling?
- More supply: 354 condo apartments were for sale in September, against 55 sales, about 6.4 months of supply.
- New towers finishing: across the GTHA, a record number of completed new units sold in Q3 2026, and Urbanation reported 3,897 completed units unsold at the end of 2025.
- Investor pullback: rents and borrowing costs have made the numbers harder for investors.
- Borrowing costs: rate uncertainty has kept some first-time buyers waiting.
Should you buy a Markham condo now?
A softer market gives buyers more choice and more room to negotiate. It can make sense if you plan to stay at least five years, the monthly cost fits your budget, and the building is financially healthy.
Before you buy, check the status certificate, the reserve fund, recent special assessments and the condo fee history. Also note that new pre-construction sales have fallen sharply. Urbanation reported only 60 pre-construction condo sales in the GTHA in Q3 2026, which may mean fewer new units in a few years.
Compare buildings in the Markham condo guide.
Should you hold your condo?
Holding often makes sense if you do not need the money, your mortgage is manageable, and the unit rents well or suits your life. Selling into a soft market locks in today's price.
If you rent it out, run the numbers honestly: rent minus mortgage, fees, taxes, insurance and repairs. Our guide on real estate investing in Markham has a calculator.
If you need to sell, how do you stand out?
- Price for today's market: compare to sales in your own building and nearby buildings in the last 90 days.
- Present it well: fresh paint, staging and strong photos matter when buyers have many choices.
- Highlight what is scarce: parking, a locker, a larger layout, a great view or low fees.
- Market to the right buyer: end users and downsizers often value different things than investors.
A good example is 33 Cox Boulevard, where redefining the target buyer, refreshing the marketing and lifestyle staging led to a sale in six days.
A note for downsizers
Falling condo prices can help homeowners moving from a detached home, because the condo you buy costs less than it did a year ago. See the math in downsizing in Markham: detached to condo.
General information only, not financial, legal or tax advice. Figures are from the sources listed and may change.
Frequently asked questions
Are Markham condo prices going down?
Yes. The Markham condo apartment MLS HPI benchmark was $517,200 in September 2026, down 9.70% from a year earlier.
What is the average condo price in Markham?
In September 2026, Markham condo apartments sold for an average of $574,612 and a median of $535,000, based on 55 sales.
Is it a good time to buy a condo in Markham?
Buyers have more choice and negotiating room than a year ago. It can be a good time for buyers who plan to stay for years and choose a well-run building. Always review the status certificate.
Should I sell my Markham condo now or wait?
If you do not need to sell, holding avoids locking in today's lower price. If you need to sell, pricing against recent sales in your building and strong presentation matter most.
How many condos are for sale in Markham?
TRREB reported 354 active condo apartment listings in Markham in September 2026, with 206 new listings that month.
Why are GTA condo prices falling?
Higher supply from completed towers, fewer investors, and uncertain borrowing costs have all weighed on condo prices across the GTA.
Talk to a Markham REALTOR® who knows these streets
Own a Markham condo or thinking of buying one? Michael John Lau can show you recent sales in your building and help you decide your next move.
Call (416) 700-0286Free home evaluationKeep reading
Sources
- TRREB Market Watch, September 2026
- TRREB MLS® HPI Public Tables, September 2026
- Urbanation: 2025 GTHA new condo market results
- CP24: Bulk new condo purchases boosting GTHA sales (Oct 21, 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.
