Markham Real Estate Market Report: October 2026 Sales, Prices and Inventory

Markham Market Report · Published November 4, 2026 · Data: TRREB October 2026

November has a way of making homeowners pause. The leaves are down, the days are shorter, and many Markham families start asking the same quiet question: should we make our move now, or wait until spring?

It is a fair question. Your home is likely your biggest asset, and the timing of a sale or purchase can shape the next chapter of your life.

Michael John Lau, REALTOR®, leads the Kaizen Real Estate Team in Markham. Each month he reads the TRREB numbers the way a homeowner needs them read: plainly, and with a clear sense of what they mean for your next decision. Here is what October 2026 tells us.

A Conversation That Happens Every November

Picture a couple who raised their family in Markham. The kids are grown. The house feels a little bigger every year. They have read that prices are down, and they worry that listing in winter means leaving money on the table.

When homeowners in this position sit down with Michael John Lau, he does not start with a price. He starts with their plan. Where are you going next? When do you need to be there? What would a successful sale look like for you?

Then he walks them through the data. Not the headlines, but the actual numbers for Markham. October gives them a lot to work with.

Markham Real Estate Market October 2026: The Numbers

Source: TRREB Market Watch, October 2026 and September 2026. City of Markham, all home types unless noted.

Three things stand out.

• Sales rose. Markham recorded 15 more sales in October than in September, an increase of about 6%.
• Prices eased, but only slightly. The average price slipped by $8,347, which is less than 1%. The median moved by just $1,000.
• Inventory held steady. Months of inventory stayed at 4.1, while active listings dipped from 1,122 to 1,069. Homes sold at 98% of list in an average of 30 days, down from 34 days in September.

Headlines Say Prices Are Down. Here Is the Fuller Picture.

Year over year, the picture is softer. The MLS® Home Price Index composite benchmark for Markham was $1,037,300 in October, down 6.89% from a year earlier. By home type, the townhouse benchmark fell the most, down 11.53%, while condo apartments were down 9.51% and detached homes were down 6.34%.

That sounds like a market in retreat. But look at what happened inside the month.

Across all home types, Markham homes sold at 98% of their list price on average in October, and the average home sold in 30 days. In plain terms, well priced homes still drew buyers who paid close to the asking price, in about a month.

This is the contrast that matters. Prices have reset lower over the past year. Yet buyers still act quickly when a home is priced right and presented well. The market is not rewarding hope. It is rewarding preparation.

October 2026 by Home Type

Detached homes

Detached homes averaged $1,522,789 across 111 sales, more than four in every ten Markham sales in October. The average dipped by $11,350 from September. Detached buyers are active, but they compare carefully and expect the price to reflect the home's condition and location.

Townhouses

Markham recorded 46 townhouse sales in October, at an average price of $1,009,862 and a median of $987,350. The townhouse benchmark is down 11.53% year over year, the steepest drop of any home type. For many families, a townhouse is the step between a condo and a detached home. When one is priced well, buyers notice.

Condo apartments

Condo apartments averaged $589,740 across 59 sales, with a median of $538,000. For first time buyers and downsizers, this is still the most accessible way into a Markham address. Condo values vary a lot from building to building, so the specific building matters more than the city average.

Where Interest Rates Fit In

On October 28, 2026, the Bank of Canada raised its policy interest rate by a quarter point to 2.50%. Its next scheduled decision is December 9, 2026.

How much this affects you depends on your mortgage. Variable rate borrowers and anyone renewing soon will feel it first. Michael John Lau covers this in detail in his breakdown of the October 28 Bank of Canada decision and Markham mortgage renewals.

One more point worth knowing: October's sales were mostly agreed before the announcement. November's report will show more of how Markham buyers respond.

What This Means for Winter Buyers in Markham

• You have room to be selective. With 1,069 active listings and 4.1 months of inventory, you can compare homes without rushing.
• Do not assume every seller will negotiate. Homes sold at 98% of list on average in October. The best homes still move.
• Confirm your financing first. With rates moving, a current mortgage approval protects you from surprises.
• Look at the street, not the city. Two homes in the same neighbourhood can be priced very differently. If you are weighing your options, read whether Markham is a buyer's market right now.

What This Means for Winter Sellers in Markham

• Winter buyers are serious buyers. People shopping in November and December usually have a clear reason to move.
• Price for today, not for last year. With the composite benchmark down 6.89% year over year, a price based on last year's values is likely to sit.
• Preparation matters more than ever. When buyers have time to compare, a clean, bright and well presented home stands out.
• Understand the gap between list and sold. If you have noticed homes closing under their list price, here is why some Markham homes are selling below asking.

The Lesson From October

Markham did not crash in October. It did not bounce back either. It steadied.

Sales climbed, the average price eased by less than 1% from September, and inventory held at 4.1 months. For buyers, that means choice. For sellers, it means the right plan matters more than the right season.

As Michael John Lau often tells his clients, street level data beats city averages. The real question is not what Markham did in October. It is what buyers are paying on your street, for a home like yours, today.

For a longer view, compare this report with the December 2025 Markham market update.

Markham Real Estate Market October 2026: FAQ

Are Markham home prices going down in October 2026?

Slightly. The average Markham price was $1,117,006 in October 2026, down from $1,125,353 in September. Year over year, the MLS® HPI composite benchmark was $1,037,300, down 6.89%.

How many homes sold in Markham in October 2026?

TRREB reported 260 Markham sales in October 2026, up from 245 in September. Detached homes made up 111 of those sales, at an average price of $1,522,789.

Is Markham a buyer's or seller's market heading into winter 2026?

Markham had 4.1 months of inventory and 1,069 active listings in October 2026, which gives buyers choice. Still, homes sold at 98% of list on average in about 30 days, so well priced homes continue to sell close to asking.

Should I sell my Markham home this winter or wait for spring?

It depends on your plan and timeline more than the season. Inventory held steady at 4.1 months in October, and buyers shopping in winter tend to be motivated. A pricing review based on recent sales near you is the best way to decide.

Did the Bank of Canada raise rates in October 2026?

Yes. On October 28, 2026, the Bank of Canada raised its policy interest rate to 2.50%. Its next scheduled decision is December 9, 2026.

Sources: TRREB Market Watch, October 2026 (released November 4, 2026); TRREB news release, October 2026; TRREB Market Watch, September 2026 (released October 6, 2026); Bank of Canada, October 28, 2026 rate announcement.

Figures are TRREB MLS® data for the City of Markham and may be revised. This report is general information, not financial or mortgage advice.

Michael John Lau, REALTOR® · Kaizen Real Estate Team · eXp Realty, Brokerage · Serving Markham & York Region, Ontario