Blog > Which Markham neighbourhoods offer the best value for first time buyers in 2026
Which Markham neighbourhoods offer the best value for first time buyers in 2026
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Michael John Lau is a top real estate agent in Markham and a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region. He helps first-time buyers look at value as more than a low price: space, commute, condition and resale all count.
Which Markham neighbourhoods offer the best value for first time buyers in 2026
Value depends on what you need most. For the lowest entry price, condo-heavy Commerce Valley had a Q1 2026 median of $628,800 in TRREB’s community data. For newer townhomes, Cornell’s median was $977,000 and Greensborough’s $980,100. For more space and land, older areas such as Raymerville ($1,065,500 median) and Cedarwood ($1,000,000) can compete with newer townhomes, though the homes may need updating. Milliken Mills East and West had medians near $1.1 million. Small sample sizes can swing these figures, so compare recent sales of the same home type.
What “Value” Means for a First Home
- Price per square foot: how much space your budget buys.
- Monthly cost: fees, tax, heating and maintenance, not just the mortgage.
- Commute: time saved every day has real value.
- Condition: a cheaper older home can cost more after repairs.
- Resale: how easy the home will be to sell in five to ten years.
Q1 2026 Community Figures
| Community | Sales | Average | Median |
|---|---|---|---|
| Commerce Valley | 27 | $685,911 | $628,800 |
| Village Green-South Unionville | 3 | $717,667 | $653,000 |
| Cornell | 40 | $971,202 | $977,000 |
| Greensborough | 31 | $988,068 | $980,100 |
| Cedarwood | 11 | $933,081 | $1,000,000 |
| Raymerville | 12 | $957,273 | $1,065,500 |
| Milliken Mills West | 12 | $1,140,833 | $1,080,000 |
| Milliken Mills East | 15 | $1,210,505 | $1,095,000 |
TRREB Q1 2026 Markham community report, all home types. With only a handful of sales in some communities, one sale can move the figures a lot.
Lowest Entry Price: Condo Hubs
Commerce Valley, near Highway 7 and Leslie Street, is mostly condos, which explains its lower median. It is close to Highway 404 and 407, Viva rapid transit and offices. For many first-time buyers, this is the most realistic way to own in Markham. Compare condo fees and the reserve fund in each building, because a low price with a high fee may not be the better value. Markham condo apartments had a median of $535,000 in September 2026, according to TRREB.
Buying your first Markham home? Call Michael John Lau, REALTOR®, at (416) 700-0286 to compare value across neighbourhoods.
Newer Townhomes: Cornell and Greensborough
Cornell and Greensborough offer many newer freehold and condo townhomes near parks, schools and community amenities. Cornell is also home to Markham Stouffville Hospital, a major local employer, and is served by Viva on Highway 7. A newer home usually means fewer major repairs in the first years. Confirm whether a townhome is freehold, condo or POTL, because fees affect what you can borrow. See what to check before buying a townhouse.
More Space for the Money: Older Pockets
Cedarwood and Raymerville have older semis and detached homes, often on larger lots, at prices that can compete with newer townhomes. Milliken Mills East and West, in south Markham, offer established streets with older detached and semi-detached homes, close to shopping and transit along Steeles and Kennedy. The trade-off is age: roofs, windows, furnaces and kitchens may need work. A thorough inspection and a repair budget are essential.
Hidden Value Many Buyers Miss
- Walking distance to GO or Viva. A short walk to Unionville, Centennial, Markham or Mount Joy GO, or to the Highway 7 rapidway, can save a second car.
- A dated but well-kept home. Cosmetic updates such as paint, flooring and lighting cost far less than structural work, and many buyers overlook these homes.
- Lower condo fees. A slightly higher price with a much lower fee can mean a lower monthly cost.
- Room to grow. A home with space for a future office or a second unit may suit your plans for longer.
A First-Time Buyer Value Checklist
- Compare the total monthly cost, not just the price.
- Price out likely repairs for older homes over the next five years.
- Test your commute at rush hour.
- Compare three recent sales of the same home type in each area.
- Use first-time buyer programs. See the FHSA and Home Buyers’ Plan.
The Bottom Line
The best value neighbourhood is the one where your budget buys a home that fits your next five years, without stretching your monthly costs. Ultimately, the decision is yours. The goal is to make sure you have all the information before you buy your first home.
Next Steps
- First-time buyer services: a plan for your first home.
- Condos in Markham: entry-level options across the city.
- Mortgage calculator: test your monthly cost.
Frequently Asked Questions
What is the cheapest neighbourhood in Markham?
In TRREB’s Q1 2026 community data, condo-heavy Commerce Valley had the lowest median among larger communities, at $628,800 across all home types.
Is Cornell good value for first-time buyers?
Many first-time buyers consider Cornell for its newer townhomes and amenities. Its Q1 2026 median was $977,000 across all home types.
Are older homes in Markham better value?
They can offer more space and land, but often need repairs. Compare the price plus likely repairs, not the price alone.
What is the median home price in Markham?
TRREB reported a Markham median of $1,051,000 across all home types in September 2026.
How much is a condo in Markham?
Markham condo apartments had a median of $535,000 and an average of $574,612 in September 2026, according to TRREB.
Why do community prices change so much from quarter to quarter?
Some communities record only a few sales, and the mix of condos, townhomes and detached homes changes the averages.
Work With Michael John Lau in Markham
Michael John Lau helps first-time buyers compare neighbourhoods side by side, using recent sales of the same home type and a full monthly budget. The goal is a first home that feels like a good decision for years.
📞 Contact Michael John Lau, REALTOR®
🌐 www.callmikelau.com
Looking for value in your first Markham home?
Michael John Lau can compare recent sales and monthly costs across the neighbourhoods on your list.
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. Community figures are from TRREB’s Q1 2026 Markham community report, across all home types. City-wide figures are from TRREB’s September 2026 Market Watch. Small numbers of sales can swing community figures. Michael John Lau is not a lawyer, accountant, tax advisor or mortgage professional. This article is general information, not legal, tax or financial advice. Speak with a qualified professional about your own situation.