August 2026 Market Update — Markham & GTA Real Estate
Markham sales eased for a second straight month in August, slipping to 282 transactions, even as the average sale price climbed 6.8% to $1,208,692 on a smaller, pricier mix of closings. Region-wide, TRREB's August Market Watch (released September 3) shows the same pattern playing out across the GTA: new listings falling twice as fast as sales, keeping the market tight heading into fall. Here's the complete July-to-August breakdown, the GTA context behind it, and what it means for buyers and sellers in York Region right now.
August confirmed that Markham's summer slowdown is continuing rather than reversing. Sales dipped 2.1% month-over-month to 282 transactions, but the average price jumped 6.8% to $1,208,692 and the median price rose 3.1% to $1,095,000 — a smaller pool of sales skewing toward higher-value homes. New listings contracted sharply, down 17.0% from July, tightening the sales-to-new-listings ratio to 40.3%. Across the GTA, TRREB's August report told a similar story on the supply side: sales fell 2.1% year-over-year while new listings dropped 14.1% over the same span, a supply contraction that TRREB's own economists say could set up renewed price growth if it persists. Here is the complete Markham data, the GTA context behind it, and what it means if you're buying or selling in York Region this fall.
Markham in August 2026 — The Headline Numbers
Three numbers define Markham's August: a second consecutive monthly dip in sales volume, an average price that jumped noticeably even as fewer homes traded, and a sales-to-new-listings ratio that tightened as supply pulled back faster than demand.
July vs August 2026 — Complete Markham Comparison
Sales and new listings both pulled back in August, but price moved the opposite way — a mix shift toward higher-value homes rather than a broad cooling across the board.
Metric | July 2026 | August 2026 | Month-over-Month |
|---|---|---|---|
Sales | 288 | 282 | ▼ −2.1% |
Dollar Volume | $325,821,404 | $340,851,098 | ▲ +4.6% |
Average Price | $1,131,324 | $1,208,692 | ▲ +6.8% |
Median Price | $1,062,500 | $1,095,000 | ▲ +3.1% |
New Listings | 704 | 584 | ▼ −17.0% |
Active Listings | 1,168 | 1,091 | ▼ −6.6% |
Sales-to-New-Listings Ratio | 39.4% | 40.3% | ▲ +0.9 pts |
Months of Inventory | — | 4.1 | — |
Avg. Days on Market (PDOM) | 48 days | 51 days | — |
Avg. Sale-to-List Price Ratio | 99% | 98% | ▼ −1 pt |
Reading the Price Jump Alongside the Volume Dip
A 6.8% jump in average price against a 2.1% dip in sales is not the same signal as broad-based appreciation. Dollar volume rose only 4.6% — less than the price gain — which means part of August's higher average reflects which homes sold, not a uniform lift in what every home is worth. New listings fell 17.0%, more than twice as fast as sales declined, and that supply squeeze pushed the sales-to-new-listings ratio up to 40.3% from July's 39.4%. Properties that sold in August spent an average of 51 days on market before selling, while the sale-to-list ratio held near full price at 98% — evidence that well-priced Markham homes are still transacting close to asking even as the pool of active choices narrows.
For buyers: new listings fell nearly eight times faster than sales in August, so the modest uptick in days on market hasn't translated into meaningfully more negotiating room — competition for the listings that do come to market is, if anything, intensifying.
For sellers: a 98% sale-to-list ratio and a 51-day average mean accurately priced Markham homes are still selling quickly and near asking. With active listings down 6.6% month-over-month, sellers who list into a thinner fall market may find less competition from other inventory than they did over the summer.
Why Markham Tightened in August
August's pattern tracks closely with what TRREB's own August 2026 Market Watch describes region-wide — a market where supply is contracting faster than demand, setting up conditions for renewed price pressure.
New Listings Fell Faster Than Sales, Again
GTA-wide new listings dropped 14.1% year-over-year in August, well ahead of the 2.1% dip in sales. Markham's own new listings fell 17.0% month-over-month against a much smaller 2.1% sales decline — the supply gap widened, not narrowed.
Less Choice Is Showing Up in Price
Markham's average price rose 6.8% in a month where fewer homes traded and inventory shrank — the kind of shift TRREB's own commentary linked to reduced buyer choice in some neighbourhoods pushing prices upward.
The Annual Price Decline Kept Shrinking
TRREB's MLS® HPI Composite was down 4.5% year-over-year in August, easing further from July's 4.6% annual decline. Markham's own HPI Composite benchmark improved even more, narrowing from a 7.65% year-over-year decline in July to 6.42% in August.
Buyers Are Still Weighing a Trade-Off
TRREB leadership flagged that some buyers now face a choice between waiting for more economic certainty and buying before prices move higher — a tension that shows up as a thinner but firmer market rather than a clear signal in either direction.
The GTA Picture — August 2026 in Context
TRREB's August 2026 Market Watch, released September 3, gives the region-wide backdrop for Markham's local numbers. The headline: sales and new listings both pulled back from July, supply contracted far faster than demand, and the year-over-year price decline continued to narrow.
GTA Metric | July 2026 | August 2026 | Month-over-Month |
|---|---|---|---|
Sales | 5,995 | 5,057 | ▼ −15.6% |
New Listings | 14,484 | 12,075 | ▼ −16.6% |
Active Listings | 26,098 | 24,482 | ▼ −6.2% |
Average Selling Price | $1,003,956 | $993,410 | ▼ −1.1% |
MLS® HPI Composite (YoY) | −4.6% | −4.5% | ▲ Decline easing |
Avg. LDOM / Avg. PDOM | 32 / 45 days | 35 / 51 days | +9.4% / +13.3% |
On a seasonally adjusted basis, TRREB reports August sales were down only slightly month-over-month against July, while new listings rose on the same seasonally adjusted basis — meaning the underlying, adjusted trend still points toward a market that's tightening even though the raw, non-adjusted sales and listings counts both came down from July's totals. The MLS® HPI Composite was essentially flat month-over-month on a seasonally adjusted basis, while the average selling price edged up slightly over July.
TRREB President Daniel Steinfeld noted that as inventory tightens and prices begin to firm, some buyers face a trade-off between waiting for more economic certainty and buying before prices move higher — while improving conditions could also draw more sellers into the market, giving buyers additional choice.
— Daniel Steinfeld, President, Toronto Regional Real Estate Board (TRREB)
Chief Information Officer Jason Mercer pointed to ownership housing remaining relatively affordable over the past year, with prices dipping and mortgage rates holding steady, though he flagged ongoing concern among households about trade tensions with the United States and the potential for higher inflation and borrowing costs ahead.
— Jason Mercer, Chief Information Officer, Toronto Regional Real Estate Board (TRREB)
CEO John DiMichele called the more balanced resale market a positive step, but said it doesn't resolve Ontario's broader housing supply and affordability challenges — pointing to restrictive municipal zoning, high taxes and development charges, and lengthy approval timelines as the real drivers of how much housing gets built and at what cost.
— John DiMichele, Chief Executive Officer, Toronto Regional Real Estate Board (TRREB)
What the GTA Numbers Mean for Markham Specifically
Markham's August average price of $1,208,692 sits roughly $215,000 above the GTA-wide average of $993,410 — a premium of about 21.7%, consistent with what the community has commanded through the recovery, reflecting school catchments, mature streetscapes, and comparatively low property tax rates within York Region. What's notable this month is that Markham's benchmark price on the MLS® HPI Composite is down 6.42% year-over-year — a steeper annual decline than the GTA-wide 4.46%, though both eased from where they stood a month earlier.
What August's Numbers Mean for Buyers and Sellers in Markham
Here's how the Kaizen Real Estate team reads August's data in practical terms for buyers and sellers active in Markham right now.
"What stands out to me in August is that price moved up while volume moved down — that's the opposite of what a cooling market looks like. Anyone reading the sales dip on its own without looking at where the price and the listings count went is going to draw the wrong conclusion about where this market is headed into fall."
Michael John Lau — Kaizen Real Estate
"New listings fell almost three times as fast as sales this month. If you're a buyer who's been waiting for the summer slowdown to open up real negotiating room, the data says that window is closing rather than widening — well-priced homes are still selling near asking in 51 days."
Neeraj Moolchandani — Kaizen Real Estate
Now That It's September — What the Rest of the Year Typically Brings
August's numbers are now behind us, and Markham has entered the stretch of the calendar that historically sets up how the fall market unfolds. Here's what September and October typically mean locally, read against what August's data suggests about this particular year.
The Fall Market Opens
Transaction volume usually picks back up through September as school-year routines resume and buyer urgency returns. August's tighter sales-to-new-listings ratio suggests the fall rebound is opening against an already thinner pool of active listings.
Supply Gap Carries Forward
TRREB's outlook for a stronger second half of 2026 means the fall market is opening with new listings already down 14.1% year-over-year region-wide. If that gap persists into October, sellers could carry more pricing leverage than they had a year ago.
Borrowing Costs Hold Steady
The Bank of Canada's overnight rate held at 2.3% in August, with the prime rate unchanged at 4.5%. Steady rates remove one source of uncertainty heading into fall, even as buyers wait for more clarity on tariffs and inflation.
Fewer New Listings Ahead of Fall
Markham's new listings fell 17.0% month-over-month in August on top of the GTA-wide 14.1% annual decline. A thinner pool of new inventory heading into the fall market historically favours sellers who list early and price accurately.
Analyse Your Position — Kaizen Real Estate Can Help
Whether you're timing a purchase against a market that's tightening rather than cooling, weighing whether to list ahead of the fall rush, or tracking Markham's recovery for investment purposes, the Kaizen Real Estate team brings the financial modelling depth both decisions require.
Michael John Lau
REALTOR® · CPA/CMA · eXp Realty · eXp Luxury · Licence #4784577
Michael's CPA/CMA background means his market analysis covers the full financial picture behind a purchase or sale — all-in costs, carrying costs, and mortgage qualification at current rates for buyers; pricing grounded in monthly data rather than lagging benchmarks for sellers.
Neeraj Moolchandani
REALTOR® · Kaizen Real Estate Team · eXp Realty
Neeraj translates the aggregate Markham numbers into street-level context — which pockets are seeing days-on-market compress fastest, and where August's tighter numbers are becoming a seller's advantage rather than a pause.
Ready to Act Before the Fall Market Tightens Further?
Sales pulled back in August, but price and speed both say the market is firming, not softening. Michael John Lau and Neeraj Moolchandani can walk you through exactly what August's numbers mean for your specific situation. No obligation, first conversation is free.