As we approach 2025, Markham’s real estate market stands at a fascinating crossroads, blending opportunity with evolving challenges. From shifting buyer leverage to transit-driven growth, community-focused development, and economic influences, this guide dives deep into the factors shaping the market. Whether you’re a buyer, seller, or investor, here’s what you need to know to make informed decisions in Markham and how to seize the moment.

Buyer Leverage: More Choices, Better Deals

Markham’s real estate market is tilting in favor of buyers as we head into 2025. The benchmark home price reached $1,154,800 in June 2025, according to the Toronto Regional Real Estate Board (TRREB), affirming its premium status in the Greater Toronto Area (GTA). Yet, market dynamics are shifting. TRREB data shows a 7.7% surge in new listings across the GTA, climbing to 19,839, while home sales dropped 2.4% year-over-year. Meanwhile, the average selling price fell 5.4% to $1,101,691. This influx of inventory is cooling the market, giving buyers more options and room to negotiate.

Lower interest rates amplify this advantage. The Bank of Canada’s recent rate cuts have pushed five-year fixed mortgage rates down to approximately 3.5%, a significant drop from previous highs. For a $1 million home, this translates to an additional $50,000 to $75,000 in purchasing power, depending on financing terms. For example, a buyer who could afford a $900,000 home at 4.5% interest can now target properties closer to $975,000 at 3.5%. This affordability boost, combined with higher inventory, creates a buyer’s market in Markham a rare window for securing better deals and favorable terms.

Consider this: in neighborhoods like Cachet or Angus Glen, where detached homes often exceed $1.5 million, sellers are increasingly open to offers below asking as listings linger longer. Buyers who act strategically in 2025 can lock in properties at competitive prices before the market potentially shifts again.

Transit Appeal: Downtown Markham’s Growing Hub

Downtown Markham is rapidly transforming into a transit-driven hub, drawing professionals and investors with its connectivity and growth potential. The Unionville GO Station expansion, completed in early 2025, has increased daily ridership by 20%, according to Metrolinx. This upgrade, paired with enhanced York Region Transit (YRT) routes, slashes commute times to Toronto’s core to under 45 minutes. Properties within a 1-kilometer radius of the station have seen value increases of up to 10%, with condos and townhomes leading the charge.

Major projects are fueling this momentum. The Riverside Residences, a sleek condo development set to launch in mid-2025, offers units starting at $600,000 with direct access to transit, retail, and green spaces. For young professionals, this means urban convenience without Toronto’s price tag. Investors, meanwhile, are eyeing rental yields of 4-5% annually, bolstered by demand from commuters and students near York University’s Markham campus.

Transit improvements also signal long-term appreciation. As Downtown Markham solidifies its status as a professional hub, expect properties near transit nodes like Birchmount Road or Enterprise Boulevard to outpace broader market growth. For buyers, this is a chance to invest in a neighborhood on the cusp of a major upswing.

Community Focus: Balancing Growth with Resident Concerns

Markham’s growth comes with a caveat: residents are vocal about preserving the community’s charm. A City of Markham survey revealed that 85% of residents prioritize access to green spaces, top-tier schools, and local amenities when choosing a home. Neighborhoods like Unionville and Markham Village shine here, blending historic appeal with modern conveniences think Main Street Unionville’s boutique shops or Markham Village’s proximity to parks and libraries. Properties in these areas often command premiums of 10-15% over less-serviced locales, reflecting their enduring desirability.

Yet, development pressures persist. Residents worry about traffic congestion and overbuilding, particularly in rapidly expanding areas like Cornell. Developers are responding with thoughtful designs. The Cornell Rouge mixed-use project, for instance, integrates pedestrian-friendly streets, a 5-acre park, and local retail addressing concerns while enhancing livability. For buyers, this balance translates to properties that hold value and offer a lifestyle aligned with community priorities.

Take Greensborough: homes near schools like Mount Joy Public School and parks like Swan Lake attract families willing to pay $1.2 million for a detached property. These well-serviced areas underscore a key trend: community amenities aren’t just perks they’re drivers of real estate value in Markham.

Economic Clarity: How Rate Cuts and Trade Policies Impact Decisions

Economic forces are reshaping Markham’s market in 2025, with both opportunities and uncertainties at play. The Bank of Canada’s rate cuts have lowered borrowing costs significantly. A 0.5% reduction on a $1 million mortgage saves buyers approximately $250 monthly, or $15,000 over five years. This relief is a game-changer for first-time buyers and upsizers, making homes like Markham’s $800,000 townhouses or $1.3 million detached properties more attainable.

But broader economic factors add nuance. Ongoing U.S.-Canada trade negotiations could sway job security and consumer confidence. If tariffs rise or talks falter, industries like manufacturing, key to Markham’s tech corridor, might face headwinds, dampening buyer enthusiasm. TRREB Chief Market Analyst Jason Mercer puts it succinctly: "A firm trade deal with the United States would go a long way to alleviating a weakened economy and improving consumer confidence." Clarity on these policies will either sustain or stall the market’s momentum.

For now, the data leans positive. Employment in Markham’s tech and service sectors grew 3.2% in 2024, per Statistics Canada, supporting demand for housing. Buyers who understand these economic levers and act before trade outcomes solidify can position themselves ahead of the curve.

Your Next Step in Markham’s Market

Markham’s 2025 real estate landscape is a goldmine of opportunity: buyer leverage from cooling prices and lower rates, transit-driven growth in Downtown Markham, community-focused development that boosts desirability, and economic shifts that reward the informed. But success here isn’t automatic it demands local expertise to navigate the nuances.

As Markham realtors, we're here to help you turn potential into results. Whether you’re hunting for a family home in Unionville, an investment condo near Unionville GO, or a sale that maximizes your return, I’ll provide tailored insights to match your goals. The time to act is now Markham’s market won’t wait. Reach out today, and let’s make your next move a winning one.