Markham is York Region’s largest city with a population of approximately 338,000, located 30 km north of Toronto along the Highway 407/404 corridor. It is often referred to as Canada’s high-tech capital, home to the Canadian headquarters of IBM, AMD, Apple, Motorola Solutions, Huawei Canada, and hundreds of smaller technology companies. Markham’s economy has diversified far beyond its heritage as a pastoral community, now anchored by Markham Stouffville Hospital, York University’s new campus at Markham Centre, and one of the largest concentrations of South and East Asian technology workers in Canada.
Markham trades at a premium to most GTA suburbs, reflecting its employment base and a high proportion of newer, larger-format detached homes. July 2026 TRREB data shows prices continuing to soften year-over-year across most segments.
Key Highlights — July 2026 (TRREB):
- Average home price: $1,131,324
- MLS® HPI Benchmark price: $1,058,600 (-7.65% year-over-year)
- Total sales: 288
- Detached: $1,507,841 (-7.63% YoY), 124 sales
- Semi-detached: $1,059,315 (-5.44% YoY), 19 sales
- Freehold Townhouse: $1,059,661 (-11.17% YoY), 46 sales
- Condo Townhouse: $722,018, 22 sales
- Condo Apartment: $637,452 (-10.86% YoY), 63 sales
- Market: balanced to buyer’s market
Markham Home Prices by Type — July 2026
| Home Type | Home Price | Y/Y Change | M/M Change |
|---|---|---|---|
| All Residential | $1,131,324 | -9.21% | -0.45% |
| Detached | $1,507,841 | -10.18% | -4.84% |
| Semi-Detached | $1,059,315 | -2.99% | +2.17% |
| Freehold Townhouse | $1,059,661 | -1.04% | +6.72% |
| Condo Townhouse | $722,018 | -8.05% | -14.9% |
| Condo Apartment | $637,452 | -7.66% | +6.2% |
Market Metrics — July 2026
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Total Sales | 288 | N/A |
| New Listings | 704 | N/A |
| Average Days on Market | 48 | N/A |
| Sales-to-New-Listings Ratio | 39.4% | N/A |
| Months of Supply | 4.2 | N/A |
| Sale-to-List Price Ratio | 99% | N/A |
Income Required to Buy in Markham
The table below shows the gross annual household income required to qualify for a mortgage in Markham, using OSFI stress test guidelines.
Assumptions: 20% down payment, 3.99% contract rate (5.99% qualifying rate), 25-year amortization, GDS ratio of 32%, property tax $354/month, heating $150/month.
| Home Type | Home Price | Mortgage | Income Required |
|---|---|---|---|
| All Residential | $1,131,324 | $905,059 | $236,856 |
| Detached | $1,507,841 | $1,206,273 | $309,394 |
| Semi-Detached | $1,059,315 | $847,452 | $222,983 |
| Freehold Townhouse | $1,059,661 | $847,729 | $223,050 |
| Condo Townhouse | $722,018 | $577,614 | $158,001 |
| Condo Apartment | $637,452 | $509,962 | $141,709 |
Key Trends — Markham March 2026
Tech Sector Employment Premium: Markham’s housing market is uniquely insulated by the depth and stability of its high-technology employment base. Corporate campus owners including IBM, Huawei, and AMD draw highly paid engineers, product managers, and executives who sustain demand for Markham’s premium detached and townhouse inventory even through broader market softening. Income required for average Markham housing (~$236,900) is higher than most GTA suburbs, matching the city’s higher-income demographic profile.
Condo Market Under Pressure: The condo apartment segment at $637,452 is down 7.66% year-over-year but up 6.2% month-over-month, one of the more volatile segments. This mirrors Toronto-wide condo trends: investor resale activity, new completions, and shorter-term rental income uncertainty are creating buyer’s market conditions specifically in the condo segment. For buyers willing to absorb near-term price risk, units near Markham GO stations offer long-term value.
York Region Transit Expansion: Markham Centre is the emerging transit hub, anchored by the planned Yonge North Subway Extension (YNSE) which will extend the Toronto TTC Yonge line from Finch through North York and Richmond Hill to 16th Avenue. Properties near future stations at Clark Avenue and around Markham Centre/7 & Warden are attracting forward-looking buyers.
Unionville Premium: The historic Unionville Main Street district — one of Markham’s most sought-after addresses — maintains a price premium for Victorian-era homes and newer high-end infill, sustained by heritage designation restrictions on supply and extremely strong community character.
Notable Neighbourhoods in Markham
Unionville: Markham’s crown jewel. Heritage main street with Victorian-era storefronts, restaurants, and boutiques along the Rouge River. Premium detached and luxury townhomes $1.2M–$2.5M+. Heritage designation restricts supply.
Markham Village: Historic core of the original Markham Township. Similar heritage character to Unionville with somewhat more affordable pricing. Detached $1.0M–$1.6M.
Cornell: New Urbanist master-planned community developed after 2000 with walkable street grids, parkettes, and mixed housing types. Strong community feel. Markham Stouffville Hospital is adjacent. Detached $1.1M–$1.5M; townhomes $850k–$1.0M.
Cathedraltown: Newer subdivision in north Markham inspired by European architectural forms. Premium single-family detached from $1.3M–$2.0M.
Wismer / Victoria Square: Mixed older and newer stock in mid-north Markham. Family-oriented. Detached $1.0M–$1.4M; townhomes $850k–$1.0M.
Markham Centre: Emerging downtown for Markham. High-rise condos, York University campus, and civic uses. New build condos $550k–$850k. Long-term transit investment area.
Milliken / Unionville GO Corridor: South Markham with good access to the Stouffville GO line. Mix of older 1980s–2000s stock. Detached $950k–$1.3M.
Berczy Village / Swan Lake: Upper-middle-class established neighbourhoods in central Markham. Top-rated school catchments, low crime. Detached $1.1M–$1.6M.
Ontario Land Transfer Tax — Markham
Ontario LTT on a $1,131,324 home:
| Portion | Rate | Tax |
|---|---|---|
| First $55,000 | 0.5% | $275 |
| $55,001–$250,000 | 1.0% | $1,950 |
| $250,001–$400,000 | 1.5% | $2,250 |
| $400,001–$1,131,324 | 2.0% | $14,626 |
| Total | ≈ $19,101 |
No municipal land transfer tax applies in Markham — only the provincial Ontario LTT.
First-time buyers may qualify for the Ontario LTT refund of up to $4,000. However, at Markham’s average price level, homes will exceed the first-time buyer eligibility thresholds on the provincial LTT.
Related Calculators & Tools
- Mortgage Affordability Calculator
- Land Transfer Tax Calculator
- CMHC Mortgage Insurance Calculator
- Toronto Housing Market
- Mississauga Housing Market
- Ontario Housing Market — provincial overview
- Canada Housing Market — national overview
Data Sources
- Toronto Regional Real Estate Board (TRREB) — July 2026 Market Watch
- Data period: July 1–31, 2026