The average sold price for all home types in Markham is $1.2 million, which is 6% lower than July 2025. Current Markham MLS stats indicate an average house price of $1,151,594 and 814 new listings in the last 28 days. As of today, Markham housing data shows a median days on market of 26 days.
The asking price data tells an even more pointed story. Markham's median list price has declined approximately 10.22% since July 2025, one of the most significant year-over-year asking price corrections in the city's recent history. And if you are a buyer who has been waiting for the right signal to enter this market, Michael John Lau, top real estate agent in Markham Ontario, is telling you this morning that the signal has arrived. Here is exactly what this week's data means for your purchase decision.
What a 10.22% Asking Price Decline Actually Means in Dollars
On Markham's median list price of approximately $1,098,000, a 10.22% year-over-year asking price decline represents approximately $112,000 in purchasing power recaptured relative to what buyers faced at this time last year. This is not a theoretical number. It is real, accessible value that is sitting in the market right now, waiting for buyers who are ready to act.
Consider this in the context of a specific buyer scenario. A family targeting a four-bedroom detached home in Wismer Commons that listed at $1,450,000 in July 2025 is looking at a comparable property listed at approximately $1,300,000 in July 2026. That is a $150,000 reduction in the asking price baseline. At current mortgage rates of approximately 4.5% over 25 years, that $150,000 difference reduces the monthly mortgage payment by approximately $825. On an annual basis, that is $9,900. Over a 10-year hold, it is nearly $100,000 in cumulative interest savings from a lower starting balance.
The Math Buyers Should Not Miss
The math is compelling. The question is whether buyers understand that the opportunity they are looking at right now is materially better than what existed 12 months ago, not worse. Successful buyers act on data. Hesitant buyers wait for consensus, and by then the window has moved.
Why Asking Prices Have Declined More Than Sold Prices
The distinction between asking price declines and sold price declines matters for understanding what is actually happening in the market. The average sold price in Markham has seen a −3.2% change year-to-date and an −8.84% change over one year.
The gap between asking price declines (approximately 10.22%) and sold price declines (approximately 8.84%) tells you two things. First, sellers are adjusting their expectations and pricing more realistically than a year ago. Asking prices are coming closer to where the market actually transacts. Second, the sale-to-list ratio is holding at approximately 97% to 98%, which means sellers who price correctly are getting very close to their asking price. The correction has been primarily in the listing price, not in the negotiation leverage.
This is a healthy market normalization, not a distress signal. Sellers who priced aggressively in 2025 have adjusted. The asking prices visible in the market today are more accurately anchored to recent comparable sales than at any point in the past 18 months.
Neeraj Moolchandani on Timing Markham Buyer Entry in July 2026
Neeraj Moolchandani, REALTOR® at Kaizen Real Estate, works alongside Markham buyers navigating exactly the situation this article describes. His specialty is translating complex market dynamics into a clear plan of action, whether that involves timing, negotiation strategy, or protecting long-term family wealth.
When Neeraj advises clients on timing Markham buyer entry in July 2026, the conversation always starts with what matters most to the family, not what the market is doing this week. That is the difference between transactional advice and the kind of counsel Markham buyers return to for a decade.
The Inventory Picture — What 814 New Listings in 28 Days Signal
814 new listings in the last 28 days represents a steady, sustained flow of new inventory into the Markham market, not an overwhelming flood. This pace of new listings, combined with the 26-day median days on market, produces a market where well-priced properties are moving within a month while overpriced properties accumulate the days-on-market signal that marks them as buyer negotiation opportunities.
For buyers, this week's data means three specific things.
Abundant Choice
518 houses, 379 condos, and 323 townhouses currently listed. The widest selection available to Markham buyers in over a decade. Time to be selective, include conditions, and negotiate.
Pricing Accuracy
Sellers receiving offers in the first two to three weeks are the ones who priced correctly. Listings sitting for 45 to 60 days are the individual negotiating opportunities available right now.
A Closing Window
Conditional sales are extending beyond 30 to 45 days, giving buyers unprecedented flexibility. Sellers offering that flexibility in July will not offer it when pent-up demand releases.
Pre-Approved and Ready?
This week's data is the answer to the question Markham buyers have been asking for months. Book a private consultation and put the July 2026 window to work for you.
The Property-Type Breakdown — Where the Best Value Sits Today
The median sale price is $1,069,900. Breaking this down by property type reveals the divergence that matters for specific buyer decisions.
Property Type | Active Listings | Where Value Sits |
|---|---|---|
Houses (Detached & Semi) | 518 | Established Milliken Mills, Raymerville, non-catchment Unionville pockets. Bur Oak and Angus Glen catchment holds price. |
Condos | 379 | Largest YoY correction in percentage terms. Most negotiating leverage of any property type. First-time buyers and investors. |
Townhouses (Freehold & Condo) | 323 | Freehold in Cornell, Greensborough, South Cornell holds better. Condo townhomes with higher fees face more pressure. |
Well-located freehold townhomes in Cornell, Greensborough, and South Cornell retain buyer demand from the family market that cannot reach the detached tier. The condo apartment segment carries the largest year-over-year asking price decline, reflecting the combined effect of new construction completions flooding the resale market and immigration moderation reducing rental demand.
What to Do With This Information This Week
If you have been pre-approved for a mortgage and have been waiting for the right moment to enter Markham's market, the data this week tells you that you are currently sitting in a window that is measurably better than the equivalent window one year ago. 10.22% lower asking prices, abundant inventory across all three property types, and a seller community that is accepting conditions and negotiating in ways that were entirely unavailable in 2021 and 2022.
The risk of waiting is not that the market will collapse further. The floor is visible in the data, and monthly price stabilization is already occurring. The risk is that the conditions currently available to you, including extended conditional periods, negotiating leverage, and abundant choice, begin to erode as pent-up demand releases and the fall market's typical demand surge reduces buyer leverage.
The Answer to the Question Buyers Have Been Asking
Is now a good time to buy in Markham? It is a better time than last July. It may be a better time than next July. The data is clear. What buyers do with that data over the next 90 days determines whether they capture the window or watch it close.