Toronto Housing Market Report

Markham housing market overview

• The average home price in Markham was $1,185,914 &#8212 a -3.68% year-over-year decrease.
• The median home price in Markham was $1,208,500 &#8212 a 2.5% year-over-year increase.
• The average detached home price decreased -7.68% year-over-year to $1,592,483
• The semi-detached home price increased 10.63% year-over-year to $1,224,727
• The condo townhouse home price increased 8.78% year-over-year to $1,246,962
• The average condo apartment home price increased 4.05% year-over-year to $691,460

Average home price trends

The average home price across all property types in Markham was $1,185,914. Home prices have decreased -3.68% year-over-year compared to the average home price of $1,231,173 the prior year. The average home price across all property types saw a -7.49% month-over-month decreased from the average home price of $1,281,912 the prior month. Here is how the average home price has changed across property types.

Important Market Metrics

Sales

Total sales in Markham were 153 which is a 5.52% increase from 145 sales the prior year. Here is how the sales are broken down by property type:

• Detached: 51 which is a -12.07% Y/Y decrease
• Semi-Detached: 11 which is a 22.22% Y/Y increase
• Condo Townhouse: 35 which is a 40% Y/Y increase
• Condo Apartment: 40 which is a 2.56% Y/Y increase

Inventory

The housing inventory this month is 3 months which is up from 2.9 months of inventory the prior month and 1.8 months the prior year. Housing inventory this month is much higher than the historical 5-year average which is 0 months of inventory.

Listings

Markham had total new listings of 197 which is a 22.36% Y/Y increase and -58% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Markham was 44.5% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

All property types

The highest historical average home price in Markham was $0. The highest historical median home price was $0.

Single-family detached home prices in Markham

Semi-detached home prices in Markham

Condo townhouse prices in Markham

Condo apartment prices in Markham

source: TREB