Blog > Should a single buyer in Markham purchase a condo or a townhome?
Should a single buyer in Markham purchase a condo or a townhome?
For a single buyer in Markham, Ontario, a condominium apartment is the lower entry point and the more flexible purchase, averaging approximately $632,000 in 2026 with maintenance fees that cover most building costs. A condominium townhome averages approximately $813,000 and a freehold townhome approximately $1,031,000, offering more space, private outdoor area and, in the freehold case, no monthly fee. The right answer depends on down payment, tolerance for monthly carrying costs, how long the buyer intends to stay, and whether resale liquidity or living space matters more.
Where the Markham Market Sits in 2026
Context first, because the numbers have shifted meaningfully.
In August 2026, the average Markham sale price across all home types was $1,208,692, with a median of $1,095,000. Homes sold at 98 percent of list price after an average of 33 days on market. Markham active listings fell 10.7 percent year over year, and sales rose 17.5 percent, which tightened the market compared to a year earlier.
The condominium segment moved differently. Greater Toronto Area condominium apartment prices fell 7.5 percent year over year in the second quarter of 2026, to an average of $634,972. Markham condominium apartments averaged $632,662 in the same quarter, taking 43 days to sell at 96 percent of list price. That is ten days slower and two percentage points weaker than the Markham market overall.
For a single buyer, that combination is worth reading carefully. It means condominium buyers currently have more negotiating room than any other buyer group in Markham, and it also means a condominium purchased today should be held long enough to ride out a soft segment.
Markham Price Comparison by Home Type
| Home type | Approximate average price, 2026 | Monthly fee | Typical buyer |
|---|---|---|---|
| Condominium apartment | ~$632,000 | $480 to $1,000 | First time and single buyers |
| Stacked townhome | Varies, often $600,000 to $750,000 | $280 to $480 | Entry level, low fee seekers |
| Condominium townhome | ~$813,000 | $380 to $620 | Buyers wanting space plus managed exterior |
| Freehold townhome | ~$1,031,000 | None | Long term owners, future families |
| Semi detached | ~$958,000 | None | Buyers prioritizing land |
| Detached | ~$1,610,000 | None | Families, move up buyers |
Maintenance fee ranges are Markham specific benchmarks published by local brokerages and should be verified building by building. As a rule of thumb, a well run newer Markham high rise runs $0.60 to $0.75 per square foot per month, a full amenity building runs $0.75 to $0.95, and anything above $0.95 warrants a closer look at the reserve fund study.
The Case for a Condominium Apartment
Lower entry price and lower down payment
The gap between a Markham condominium apartment and a Markham detached home is roughly $978,000. That is not a small difference in lifestyle, it is a different mortgage entirely. For a single income buyer, the condominium is often the only path to ownership in Markham without a co signer or a large family gift.
Predictable costs
Maintenance fees cover building insurance, exterior maintenance, snow removal, landscaping, amenities and, in many older Markham buildings in Milliken and Markham Village, heat and water as well. A single owner does not wake up to a $14,000 roof.
Location and transit
Markham's condominium supply is concentrated where transit is strongest. Downtown Markham and the Highway 7 corridor sit on Viva Purple, which runs every 15 minutes, and within reach of Unionville GO, roughly 40 minutes from Union Station. Commerce Valley and Leitchcroft add supply on the Thornhill side with Highway 404 access.
Buyer leverage right now
Markham condominiums sold at 96 percent of list price in the second quarter of 2026 and averaged 43 days on market. In a segment where sellers are waiting, a prepared buyer negotiates.
The Case for a Townhome
Space that a single buyer grows into
Most single buyers do not stay single buyers. A two or three bedroom townhome absorbs a partner, a home office, a roommate paying rent, or a child, without a second move. Two moves in Markham cost far more in land transfer tax, legal fees and commissions than the initial price gap.
Private outdoor space
A backyard, a rear terrace or a garage is not a small quality of life difference. It is also a resale advantage, because the buyer pool for outdoor space is broader than the buyer pool for a similar sized apartment.
No monthly fee on a freehold townhome
A freehold townhome carries no maintenance fee. On a $600 monthly fee, that is $7,200 a year that goes to principal instead. Over ten years that is a meaningful difference in equity. The trade off is that every repair is the owner's, and an owner should budget one to two percent of value annually for maintenance.
Stronger market position
Markham freehold townhomes have held up better than apartments. The condominium apartment segment is the clear laggard in the current market, while the overall Markham market sold at 98 percent of list price.
Five Questions a Single Buyer Should Answer First
- How long will you own this? Under five years, the lower entry price and easier exit of a condominium usually wins. Over seven years, a townhome's space and fee free carrying cost usually wins.
- What is the total monthly carrying cost, not the price? A $632,000 condominium with an $800 fee and $2,800 in property tax can carry higher monthly than a $760,000 stacked townhome with a $350 fee. Compare monthly, always.
- Do you want to rent a room? A townhome supports a roommate or, on a freehold lot, a future secondary unit. Most condominium apartments do not.
- Have you read the status certificate? For any condominium or condominium townhome, the status certificate reveals the reserve fund balance, planned special assessments, litigation and rental restrictions. This is the single most important document in a condominium purchase.
- What happens if your life changes? Condominium apartments are the most liquid property type in a strong market and the slowest in a soft one. Townhomes track the broader market more closely.
Markham Communities Worth Looking At
- Downtown Markham and Unionville: newer condominium apartments, walkable, Unionville GO and Viva Purple. Unionville condominium apartments averaged approximately $628,000 in the first quarter of 2026.
- Commerce Valley and Leitchcroft, Thornhill: Markham's most accessible condominium apartment pricing, averaging approximately $572,000 in the first quarter of 2026, with Highway 404 and Highway 7 access.
- Cornell: stacked and condominium townhomes with lower fees, walkable design, and Markham Stouffville Hospital adjacent.
- Wismer Commons and Greensborough: freehold and condominium townhomes near Mount Joy GO, strong schools, family resale demand.
- Aileen Willowbrook, Thornhill: a mix of condominium apartments and townhomes at some of Markham's more approachable entry points.
Frequently Asked Questions
What is the cheapest way to buy in Markham as a single buyer?
A condominium apartment, currently averaging approximately $632,000, is the lowest entry point. Stacked townhomes in Cornell and Wismer Commons are the next step up and carry lower maintenance fees than most apartment buildings.
Are Markham condo maintenance fees high?
They vary widely. Markham benchmarks run roughly $280 to $480 for stacked townhomes, $380 to $620 for condominium townhomes, $480 to $750 for low rise condominiums and $600 to $1,000 for high rise buildings. Always compare fees per square foot and review the reserve fund study.
Is a freehold townhome better than a condo in Markham?
Better depends on the buyer. A freehold townhome carries no monthly fee and more space but costs roughly $400,000 more and puts every repair on the owner. A condominium apartment costs less, carries a monthly fee and offers a simpler ownership experience.
Is now a good time to buy a condo in Markham?
Markham condominium apartments are taking longer to sell and selling at a lower percentage of list price than the rest of the market, which gives buyers more negotiating room than they have had in several years. Whether that suits a specific buyer depends on their timeline and holding period.
What is a status certificate?
A status certificate is a package of documents a condominium corporation provides to a buyer, disclosing the reserve fund, budget, rules, planned special assessments and any litigation. It should always be reviewed by a lawyer before a condominium purchase becomes firm.
Buy your first Markham home with the numbers in front of you
Michael John Lau compares total monthly carrying cost rather than list price, so a first purchase still works five years from now.
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Market data is approximate and based on available MLS® statistics current to 2026. Maintenance fee ranges are benchmarks only and vary by building. Buyers are encouraged to verify current listing prices, fees and market conditions directly.