As of May 2026, Markham has 755 active listings, a median list price of $1,098,000, and an average of 33 days on market. These three numbers together tell a clear story, and Michael John Lau and Neeraj Moolchandani , top real estate agent in Markham Ontario, is going to tell it to you straight, without spin in either direction.
The Current Market — What the Data Actually Says
The highest inventory level Markham has carried in over a decade. In 2021, this was closer to 150–200 at any point.
In 2021, well-priced homes sold in under five days — sometimes hours. 33 days means buyers have time to negotiate.
Sellers retain pricing power on well-presented properties but cannot demand the premiums of peak years.
755 active listings is the highest inventory level Markham has carried in over a decade. The increase in supply is real, measurable, and has materially shifted negotiating dynamics in the buyer’s favour. Buyers have time to conduct due diligence, include conditions, compare alternatives, and negotiate rather than simply reacting.
$1,098,000 median list price reflects a market that has corrected approximately 10% to 15% from the 2022 peak across most property types. This correction is not uniform — detached homes in premium school catchment communities like Wismer Commons and Unionville have held value better than condominiums in Downtown Markham and standalone semis in communities without strong transit or school anchors.
The sales-to-new-listings ratio for York Region has been oscillating between 34% and 40% through early 2026 — technically a buyer’s market, approaching balanced. Homes are selling at approximately 97% to 98% of list price — consistent with a market where sellers retain pricing power on well-presented properties but cannot demand the premiums that defined the peak years.
The Tariff Factor — Why Buyer Caution Is Rational Right Now
The buyer hesitation that is extending days on market in Markham in May 2026 is not irrational — it reflects genuine macroeconomic uncertainty driven primarily by US tariff pressure and Canada-US trade tension that escalated through late 2025 and early 2026.
US tariffs on Canadian goods, affecting sectors including automotive manufacturing, steel, aluminum, and lumber have created employment uncertainty in Ontario’s manufacturing and export economy. For Markham buyers whose household income is tied to the broader Ontario economy, uncertainty about job security is a rational reason to delay a $1,200,000 purchase commitment.
The Bank of Canada has responded to slowing growth by holding its policy rate at 2.25% — providing the lowest mortgage rate environment Markham buyers have seen in several years. Fixed mortgage rates are currently available in the 4.3% to 4.8% range for five-year terms, a meaningful improvement from the 5.5% to 6.0% rates that characterized 2023 and 2024.
The Tension in May 2026: Interest rates are supportive of buying. Inventory is the most buyer-friendly in a decade. Prices have corrected meaningfully from peak. But trade uncertainty has spooked a portion of the would-be buyer population into a wait-and-see posture that is, for now, keeping transaction volumes below trend. This is the precise setup that creates opportunity for decisive buyers.
The Resolution Catalyst — What Unlocks the Market
The Markham buyer population that is currently hesitating is not hesitating because houses are too expensive or mortgage rates are too high. They are hesitating because of macroeconomic uncertainty. The catalyst that resolves that hesitation is equally clear: resolution of trade uncertainty between Canada and the United States.
A trade framework that reduces tariff risk for Canadian goods — or even a credible signal that negotiations are moving toward resolution — would likely release significant pent-up demand into the Markham market in the subsequent 60 to 90 days. This is the spring demand recovery scenario that multiple market analysts have been pointing to since early 2026.
Buyers who enter the market before that catalyst arrives are buying with full inventory availability, full negotiating leverage, conditional offer acceptance as the norm, and a seller pool that includes motivated sellers who have been sitting on the market for weeks. Buyers who wait for the catalyst to be clearly visible will be competing against all the other buyers who waited — in a market with compressed inventory and re-energized seller confidence.
Get the Full Picture for Your Specific Situation
The 2026 Markham market requires precision — for buyers and sellers alike. Michael John Lau and Neeraj Moolchandani provides rigorous analysis that tells you exactly where you stand in May 2026’s market, not May 2022’s.
Book a Market Strategy Call (647) 370-8885What This Means for Buyers and Sellers Right Now
For buyers: This is the most buyer-friendly Markham market since 2018. 755 active listings, 33 days on market, conditional offers accepted, and a median price that has corrected from peak. If your personal financial situation is stable and your employment is secure, the macroeconomic uncertainty that is causing other buyers to hesitate is your opportunity — not your obstacle.
For sellers: The current market requires precision. Homes priced accurately to current comparable sales data are selling efficiently. Homes priced to 2022 peak expectations are sitting — and every week of additional days on market compounds the price pressure. Michael John Lau and Neeraj Moolchandani produces rigorous CMA analysis that tells sellers exactly where their home is priced in May 2026’s market — not where it was in May 2022.
The market is not broken. It is recalibrating. And the buyers and sellers who work with the best professionals during a recalibration — rather than retreating to the sidelines — are consistently the ones who look back on it as the smartest real estate decision they ever made.