Markham's List Price vs. What Homes Actually Sell For — The Number That Changes Everything

There is one number in Markham real estate that every buyer and every seller should have memorized right now — and almost nobody does. It is not the average list price. It is the sale-to-list ratio: the percentage of their asking price that Markham sellers are actually receiving when their homes close.

As of May 2026, Markham homes are selling at approximately 97% to 98% of their list price. Markham has 755 active listings, a median list price of $1,098,000, and an average of 33 days on market.

Michael John Lau, top real estate agent in Markham Ontario, uses this ratio as the foundation of every pricing conversation — with both buyers and sellers — because understanding the gap between what people ask for and what they actually receive is the number that changes everything about how you approach this market.

What 97% Actually Means in Dollar Terms

97% of the $1,098,000 median means ~$1,065,060 sold — about $32,940 below list. A $1,400,000 Unionville detached at 97% sells around $1,358,000. A $750,000 Cornell townhome at 97% sells around $727,500.

These are not small numbers. For buyers anchoring their offer to the asking price — asking "how much should I offer below asking?" — this ratio is the starting data point that should precede that conversation. For sellers anchoring their list price to what they wish their home would sell for — rather than what the market will pay — this ratio is the reality check that prevents a costly overpriced launch.

Why the List-to-Sale Gap Exists in 2026

In the 2021 Markham market, the sale-to-list ratio was frequently above 110% — homes selling 10% to 15% over asking in competitive multiple-offer situations. The list price was a floor, not a ceiling. In 2026, the dynamic has reversed. The list price is now closer to a ceiling: sellers who list accurately achieve close to asking, and sellers who list aggressively above market see their homes sit.

The reason the gap exists is not that Markham homes are worth less than their asking prices — it is that some segment of sellers are still listing above market value, which pulls the aggregate ratio below 100%. Well-priced homes in Markham's strongest communities — Wismer Commons, Box Grove, Cornell near the hospital, Unionville's GO Train catchment — are selling significantly closer to 100% of list than the aggregate suggests. Overpriced homes in communities with weaker demand fundamentals pull the average down.

The Buyer Intelligence — How to Use This Data

For buyers, the 97% ratio is useful intelligence but can be misapplied. The error is using it as a blanket discount target — offering 97% of every asking price regardless of whether the home is accurately priced or overpriced.

The correct application: compare the asking price against recent comparable sold properties in the specific community and street. If the asking price is at or below comparable solds, offering 97% may mean offering below market value on an already-reasonable home. If the asking price is significantly above comparable solds — the case on many of Markham's current overpriced listings with 45-plus days on market — even a 97% offer may still be above genuine market value.

The Seller Intelligence — Why List Price Is Your Most Important Decision

For sellers, the 97% ratio carries a clear message: the Markham market is sophisticated and well-informed. Buyers have access to the same sold data your agent has. They will not overpay for a home simply because it is listed high — they will simply not offer, or they will wait until a price reduction signals the seller is ready to engage with reality.

The sellers achieving the best outcomes in 2026 are the ones who price accurately from day one — capturing the urgency a well-priced new listing generates, receiving offers in the first two weeks, and closing efficiently at close to asking. The sellers who launch overpriced and chase the market down through a series of reductions consistently achieve lower final sale prices. Days on market is not neutral — it is a signal to every buyer that the market has already spoken, and that signal depresses final sale prices.

Michael John Lau, top real estate agent in Markham Ontario, has this conversation with every seller client before every listing launch. The list price is the most important decision in the sale. Getting it right from day one is worth more than any marketing program.

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