Markham Housing Market Report

Markham housing market overview

The average home price in Markham was $1,236,403 — a -6.77% year-over-year decrease.
The median home price in Markham was $1,195,000 — a -4.28% year-over-year decrease.
The average detached home price decreased -5.75% year-over-year to $1,671,670
The semi-detached home price decreased -1.1% year-over-year to $1,231,884
The condo townhouse home price increased 3.47% year-over-year to $969,112
The average condo apartment home price decreased -6% year-over-year to $709,682

Average Home Price Trends
Important Market Metrics
Historical Home Prices
Home Price by Property Type

Average home price trends

The average home price across all property types in Markham was $1,236,403. Home prices have decreased -6.77% year-over-year compared to the average home price of $1,326,255 the prior year. The average home price across all property types saw a -1.93% month-over-month decreased from the average home price of $1,260,792 the prior month. Here is how the average home price has changed across property types.

Property Type	Average	M/M	Y/Y
Detached	$1,671,670	-4.34%	-5.75%
Semi-Detached	$1,231,884	-1.33%	-1.1%
Condo Townhouse	$969,112	+4.43%	+3.47%
Condo Apartment	$709,682	-5.42%	-6%

Important Market Metrics

Sales

Total sales in Markham were 239 which is a 21.94% increase from 196 sales the prior year. Here is how the sales are broken down by property type:

Detached: 97 — a 11.49% Y/Y increase
Semi-Detached: 19 — a 137.5% Y/Y increase
Condo Townhouse: 24 — a 33.33% Y/Y increase
Condo Apartment: 63 — a 26% Y/Y increase

Inventory

The housing inventory this month is 2.8 months which is up from 2.7 months of inventory the prior month and 1.7 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 797 which is a 17.38% Y/Y increase and 44.12% M/M increase.

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 44.1% in August 2024. The SNLR indicates a buyers market market with a SNLR ratio that falling below 40%.

Home prices in Markham

All property types

The highest historical average home price in Markham was $1,480,000. The highest historical median home price was $3.

Stat	August 2024	Y/Y Change
Average Price	$1,236,403	-6.77%
Median Price	$1,195,000	-4.28%
Sales	239	+21.94%
New Listings	797	+17.38%
Active Listings	1086	+55.14%

Single-family detached home prices in Markham

Stat	August 2024	Y/Y Change
Average Price	$1,671,670	-5.75%
Median Price	$1,601,000	-1.78%
Sales	97	+11.49%
New Listings	338	+9.74%
Active Listings	447	+33.43%

Semi-detached home prices in Markham

Stat	August 2024	Y/Y Change
Average Price	$1,231,884	-1.1%
Median Price	$1,272,000	+6.22%
Sales	19	+137.5%
New Listings	56	+43.59%
Active Listings	66	+69.23%

Condo townhouse prices in Markham

Stat	August 2024	Y/Y Change
Average Price	$969,112	+3.47%
Median Price	$915,000	+1.67%
Sales	24	+33.33%
New Listings	73	+65.91%
Active Listings	83	+84.44%

Condo apartment prices in Markham

Stat	August 2024	Y/Y Change
Average Price	$709,682	-6%
Median Price	$705,000	-4.33%
Sales	63	+26%
New Listings	189	+8%
Active Listings	299	+16419.34%

Markham land transfer tax

Markham land transfer tax calculator.

Canada Housing Markets

See the housing markets in Canada broken down at a national, provincial and city level with the following reports

source: TREB