Blog > What did the Markham real estate market do in August 2026?
What did the Markham real estate market do in August 2026?
Markham recorded 282 sales in August 2026 at an average price of $1,208,692 and a median of $1,095,000, with homes selling at 98 percent of list price. New listings fell to 584 and active inventory sits at 1,091. That produces a sales-to-new-listings ratio of 48.3 percent and roughly 3.9 months of inventory, which puts Markham in balanced territory but at the firmer end. Across the Greater Toronto Area, sales fell 2.1 percent year over year, new listings fell 14.1 percent, and the average price fell 2.7 percent to $993,410. Markham is tighter than the region around it.
Markham at a Glance, August 2026
| Measure | Markham | Greater Toronto Area |
|---|---|---|
| Sales | 282 | 5,057 |
| Average price | $1,208,692 | $993,410 |
| Median price | $1,095,000 | $850,000 |
| New listings | 584 | 12,075 |
| Active listings | 1,091 | 24,482 |
| Average days on market | 33 | 35 |
| Sale to list price ratio | 98% | 97% |
| Sales to new listings ratio | 48.3% | 41.9% |
| Months of inventory | 3.9 | 4.8 |
Markham dollar volume for the month was $340,851,098. The sales-to-new-listings ratio and months of inventory are calculated from the published counts, since the Toronto Regional Real Estate Board publishes the inputs rather than the ratios.
Is Markham a Buyer's or a Seller's Market?
Balanced, leaning toward sellers. Here is how to read that.
Canadian convention uses two measures. On the sales-to-new-listings ratio, below 40 percent is a buyer's market, 40 to 60 percent is balanced, and above 60 percent is a seller's market. On months of inventory, above roughly six months favours buyers, four to six is balanced, and below four favours sellers.
Markham sits at 48.3 percent and 3.9 months. The first number is squarely balanced. The second has just crossed under the four month threshold. Together they describe a market that is not hot, but is firmer than it was and firmer than the region around it.
The Greater Toronto Area, at 41.9 percent and 4.8 months, is balanced but closer to the buyer's market boundary. Markham is the stronger of the two.
Michael John Lau, a REALTOR® who prepares comparative market analyses for home sellers in Markham, Ontario, would add one caution. These are month-end snapshots without seasonal adjustment, and August inventory readings run high compared with spring. The direction is more reliable than the decimal.
The Number That Actually Moved
The headline this month is not price. It is supply.
New listings across the Greater Toronto Area fell 14.1 percent year over year, to 12,075. Active listings fell 11.3 percent to 24,482. Sales fell only 2.1 percent by comparison.
When listings withdraw faster than buyers do, competitive conditions tighten even while prices are still soft. That is precisely what the Toronto Regional Real Estate Board flagged in its August commentary: sales were arguably limited by less choice in some neighbourhoods, and less choice with more competition between buyers could ultimately result in renewed price growth.
Board President Daniel Steinfeld framed the trade-off buyers now face: if inventory tightens and prices begin to rise, some buyers may have to choose between waiting for greater economic certainty and purchasing before prices move higher. At the same time, improving conditions for sellers could bring more listings to market and restore some choice.
Prices: Down Year Over Year, Steady Month to Month
Three different price measures tell a consistent story across the Greater Toronto Area.
- Average price: $993,410, down 2.7 percent year over year
- Median price: $850,000
- MLS Home Price Index composite benchmark: $925,900, down 4.5 percent year over year
The benchmark is the most useful of the three for a homeowner, because it adjusts for the mix of what sold. A 4.5 percent benchmark decline against a 2.7 percent average decline tells you that underlying values softened more than the average suggests, and that the mix of homes selling shifted toward the higher end.
Markham's average of $1,208,692 sits 21.7 percent above the regional average, which is normal for Markham and reflects both its housing stock and its buyer profile.
By Home Type
Greater Toronto Area figures for August 2026, which show clearly where the softness is concentrated:
| Home type | Sales | Average price | Year over year |
|---|---|---|---|
| Detached | 2,399 | $1,288,669 | -1.8% |
| Semi-detached | 439 | $931,665 | -4.9% |
| Freehold townhouse | 437 | $882,060 | -6.8% |
| Condo townhouse | 395 | $681,447 | -7.8% |
| Condo apartment | 1,330 | $617,593 | -3.8% |
Detached homes held up best, down 1.8 percent. Condo townhouses fell hardest, down 7.8 percent. That ordering matters for a Markham owner deciding what and when to sell.
Markham's own home type breakdown for August was not reliably available at the time of writing. Third party estimates for the same period put Markham detached near $1.5 million, townhouses near $922,000 and condominium apartments near $633,000. Treat those as directional rather than definitive.
By Neighbourhood
The most recent Toronto Regional Real Estate Board community report for Markham covers the first quarter of 2026. No newer report has been published, which means neighbourhood-level data is two quarters behind the municipal figures above.
Detached averages from that report, for the higher-volume communities:
- Angus Glen: approximately $1,938,000 across 15 sales
- Unionville: approximately $1,689,000 across 26 sales
- Berczy Village: approximately $1,488,000 across 17 sales
- Wismer Commons: approximately $1,451,000 across 12 sales
- Greensborough: approximately $1,312,000 across 11 sales
- Markham Village: approximately $1,311,000 across 22 sales
- Cornell: approximately $1,269,000 across 13 sales
- Milliken Mills West: approximately $1,217,000 across 7 sales
Communities with fewer than five sales in a quarter are not statistically meaningful, and several Markham communities fall into that category. Use these to understand relative positioning, not to price an individual home.
What to Watch This Fall
The Bank of Canada policy rate is 2.25 percent, held at the September 2, 2026 decision. The rate has been unchanged since a cut in October 2025. The next decision is October 28, 2026, with the following one on December 9.
The Canadian Real Estate Association's forecast, issued in July 2026, projects national sales of 463,336 for 2026, down 1.4 percent, with an average price of $686,710, up 1.1 percent. For 2027 it projects 480,567 sales, up 3.7 percent, and an average price of $694,164. Notably, Ontario is the only province forecast to see annual sales increase in 2026 compared with 2025.
No forecast is a promise, and market commentary is not a guarantee of performance.
Questions about your own property or timeline? Call Michael John Lau, REALTOR®, at (416) 700-0286 for a direct answer on your street and your situation.
What This Means for You
If you are selling
- Your competition has thinned. With new listings down 14.1 percent regionally and Markham inventory below four months, a well-prepared home faces fewer rivals than it did a year ago.
- Price to the benchmark, not the average. Values are down more than the average price suggests.
- Detached is the strongest segment. If you are choosing between selling a detached home now or waiting, the current data does not argue for waiting.
If you are buying
- Prices are lower than a year ago on every measure and every home type.
- Choice is narrowing. The trade-off Steinfeld described is real: waiting for certainty may mean paying more.
- Condominiums and condo townhouses offer the most negotiating room, down 3.8 and 7.8 percent respectively.
Frequently Asked Questions
What is the average home price in Markham right now?
$1,208,692 in August 2026, with a median of $1,095,000 across 282 sales. The Greater Toronto Area average was $993,410.
Is Markham a buyer's or seller's market in 2026?
Balanced, leaning toward sellers. Markham's sales-to-new-listings ratio was 48.3 percent and months of inventory approximately 3.9 in August 2026, both firmer than the Greater Toronto Area at 41.9 percent and 4.8 months.
Are Markham home prices going up or down?
Down year over year and roughly stable month to month. The regional benchmark price fell 4.5 percent year over year and the average price fell 2.7 percent. Detached homes held up best at 1.8 percent down, while condo townhouses fell 7.8 percent.
How long does it take to sell a home in Markham?
An average of 33 days on market in August 2026, slightly faster than the Greater Toronto Area at 35 days.
What is months of inventory and why does it matter?
It is active listings divided by monthly sales, showing how long it would take to sell everything currently listed at the current pace. Below four months favours sellers, four to six is balanced, above six favours buyers. Markham is at approximately 3.9.
Is now a good time to buy in Markham?
Prices are below where they were a year ago and borrowing costs have been stable since October 2025, which favours buyers. Inventory is tightening, which does not. The right answer depends on your timeline, financing and the specific home type you are targeting.
Where does your home sit in this market?
Michael John Lau reads the data at the community and home type level rather than the headline, because that is where the decision actually sits.
Michael John Lau, REALTOR® · Markham, Ontario · (416) 700-0286
Disclaimer. Michael John Lau is a licensed REALTOR® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Market data reflects Toronto Regional Real Estate Board statistics for August 2026, released September 3, 2026, and is approximate. Ratios are calculated from published counts. Forecasts are market commentary and are not a guarantee of future performance. Buyers and sellers are encouraged to verify current conditions directly.