Is Now a Good Time to Move Up to a Bigger Home in Markham?

By Michael John Lau, REALTOR(®), eXp Realty

Featured photo: aerial view of family homes in Box Grove, Markham. Photo: Canmenwalker / Wikimedia Commons, CC BY 4.0. Illustration only.

Why can moving up feel painful and helpful at the same time?

Picture a family in Cornell with a growing household. The townhouse worked well for years. Now the kids need more room, one parent works from home, and the grandparents stay for weeks at a time. A detached home in Unionville or near Angus Glen starts to look like the next chapter. This is an illustration, not a client story.

Then they hear that prices are softer. The first thought is about the sale: will the townhouse bring less? That worry is fair. The second thought is easy to miss. The bigger home has moved too.

For a move up, neither price matters on its own. What matters is the gap between them, because that is the amount the family has to cover.

What does the new RE/MAX luxury report say?

RE/MAX Canada released its Fall/Winter 2026 Spotlight on Luxury on November 9, 2026. It compares January 1 to September 30, 2026 with the same months of 2025.

For the Greater Toronto Area as a whole, sales above $3 million came to 841, compared with 928 a year earlier, a drop of 9.4%. That decline has eased from 16.9% in the first four months of the year. Sales above $7.5 million in the same region rose 17.6% year over year.

The finding that matters most for move up families is this. RE/MAX notes that in markets including Greater Toronto, a narrower price gap between existing homes and higher end homes is encouraging owners to trade up, even if that means accepting a lower price for their current home. Michael Altneu, Vice President of Luxury at RE/MAX, pointed to the same narrower gap.

Those are regional figures. RE/MAX does not publish a Markham only count. So this post comes back to Markham, including communities such as Unionville, Angus Glen, Cachet and Bayview Glen, and looks at the official local prices.

What did Markham homes sell for in October 2026?

Source: TRREB Market Watch, October 2026 and October 2025. The change column is calculated from the published medians.

Markham recorded 260 sales in October 2026, compared with 281 a year earlier. Homes sold at about 98% of list price, and there were 4.1 months of inventory. That is balanced territory, not a strong market for buyers. It does mean more room to negotiate than in a frenzy market. For the full monthly snapshot, see the October 2026 Markham real estate market report.

Did the gap between a Markham townhouse and a detached home really shrink?

On typical (median) sales, yes. The detached median fell by $130,000, while the freehold townhouse median fell by $77,650. Because the bigger home moved more, the gap narrowed.

• Freehold townhouse to detached: $415,000 in October 2025, $362,650 in October 2026. The typical gap shrank by $52,350.
• Condo apartment to detached: $865,000 in October 2025, $812,000 in October 2026. The typical gap shrank by $53,000.

Both gaps are calculated from TRREB median selling prices.

What does a smaller gap not change?

A smaller gap helps the math. It does not choose the order, the timing or the mortgage. Michael John Lau has already covered each of those in detail:

• Not sure of the order? Read should I buy or sell first in Markham.
• Need a bridge between two closings? See how bridge financing works.
• Thinking about your current rate? Compare porting or breaking your mortgage.
• Want a step by step plan? Try how to sell and buy at the same time.
• Planning a bigger picture move? Start with the upsizing guide.

On October 28, 2026, the Bank of Canada raised its policy rate by 25 basis points to 2.5%. It is a good reason to speak with your lender early.

Frequently asked questions

Is now a good time to move up to a bigger home in Markham?

It can be a more workable time for many families. Prices are softer, so a family may get a little less for the home they sell, but the bigger home often costs less too. In October 2026 the typical (median) gap between a Markham freehold townhouse and a detached home was $362,650, down from $415,000 a year earlier. The right test is the math on your own street, and Michael John Lau is happy to run it with you.

Did the price gap between a Markham townhouse and a detached home get smaller in 2026?

On typical (median) selling prices, yes. A freehold townhouse had a median of $987,350 in October 2026 and a detached home had a median of $1,350,000, a gap of $362,650. In October 2025 the medians were $1,065,000 and $1,480,000, a gap of $415,000. The gap shrank by $52,350. This is calculated from TRREB median selling prices. Average prices moved the other way slightly, so this is a statement about typical sales only.

Should I sell my Markham home first or buy first when I move up?

It depends on your equity, your mortgage, and how comfortable you are carrying two homes for a short time. Many families sort out the order before they list. Michael John Lau explains the trade offs in a separate guide.

Read the full buy or sell first guide.

What did Markham homes sell for in October 2026?

According to TRREB, the median price for all Markham home types was $1,050,000 in October 2026, compared with $1,138,000 in October 2025. Detached homes had a median of $1,350,000, freehold townhouses $987,350 and condo apartments $538,000. Homes sold at about 98% of list price, with 4.1 months of inventory.