Markham Real Estate: Detached Sales Up 10%, Prices Slip

Markham Is Bucking the GTA Slowdown — At Least on Volume

While much of the GTA housing market has been defined by hesitation and declining activity, Markham's detached home segment is quietly telling a different story. February 2026 data shows 69 detached homes sold in Markham — up 10% compared to the same month last year, and up 8% from January. Buyer activity is picking up, even if the price picture is still complicated.

That's the snapshot from Rachel Kavanagh of the RE/MAX Benczik Kavanagh Real Estate Team, who tracks Markham and York Region market data closely. And the numbers are worth paying attention to — because Markham's market dynamics right now offer a useful window into how Ontario's suburban real estate is behaving heading into spring 2026.

The Price Picture: Down Year-Over-Year, Up Month-Over-Month

The average price for a detached home in Markham came in at approximately $1.5 million in February — up 3% from January, but down roughly 11% compared to February 2025. That year-over-year decline reflects the broader GTA price correction that's been playing out since 2022. But the month-over-month uptick suggests the floor may be closer than it appears.

WOWA's February 2026 Markham housing market report puts the overall average selling price across all property types at $1,068,928. Breaking that down by segment:

• Detached homes: $1,507,887
• Semi-detached: $1,104,220
• Townhouse: $1,153,529
• Condo townhouse: $760,760
• Condo apartment: $570,436

Total transactions across all property types came in at 182, with detached homes accounting for 69 of those sales, followed by condo apartments at 50 and townhouses at 23.

Supply Is Tightening — A Key Signal for Spring

One of the most important data points in Markham's February report isn't the price number. It's the months of inventory figure. Compared to last year, Markham currently has 1.2 fewer months of inventory in the detached segment. That means supply has tightened meaningfully over the past 12 months, even as sales volume has remained relatively modest.

Kavanagh noted that while the overall market feels more balanced, "a well-priced home is still attracting strong interest." That tracks with what agents across the GTA are observing: homes listed at — or slightly below — current market value are generating multiple offers, while overpriced listings are sitting for weeks or months. The market is efficient right now, and it's punishing mispriced inventory quickly.

Stouffville: More Inventory, Different Dynamics

For context, Stouffville tells a different story than Markham. February data from the same RE/MAX report shows 12 detached sales in Stouffville — up roughly 20% year-over-year — with an average price of approximately $1.22 million. But Stouffville's inventory situation is markedly different, with 6.4 months of inventory currently on the market. That's a much looser market than Markham, giving buyers significantly more negotiating leverage and longer timelines to make decisions.

The contrast between Markham (tight supply, higher prices, stronger demand) and Stouffville (more inventory, softer prices, more buyer choice) illustrates how localized GTA suburban markets have become. Even within York Region, conditions vary dramatically depending on the municipality.

Condos: The Weaker Leg

The condo apartment segment in Markham averaged $570,436 in February — well below detached and townhouse prices, and reflective of the broader GTA condo softness. The 50 condo transactions recorded represent a significant portion of Markham's overall sales activity, and the price point is attracting first-time buyers and investors looking for entry-level opportunities.

But like the broader GTA condo market, Markham's apartment segment faces headwinds from excess inventory and investor-owned units coming back to market. Buyers in this segment have more choices than they've had in years — which cuts both ways for pricing.

As spring listings begin to hit the market over the coming weeks, the 10% year-over-year sales increase in Markham's detached segment will be a number to watch. If that trend holds — or accelerates — it could signal that York Region's suburban market is moving toward recovery ahead of the broader GTA. The supply constraints are real, and when motivated buyers return in volume, Markham's tightening inventory could make for a competitive spring season.

What Buyers and Sellers Should Watch This Spring

For buyers considering Markham in spring 2026, the message from the data is clear: properly priced homes aren't sitting. The 1.2-month reduction in months of inventory compared to last year means there's less buffer time for buyers to deliberate. If you see something that works at the right price, waiting a week for a counteroffer may cost you the deal.

For sellers, the February data offers a cautionary note on pricing. The 11% year-over-year price decline means that anchoring your list price to 2025 comps will leave you sitting with an overpriced listing. Sellers who have priced realistically are seeing activity. Those who haven't are watching days-on-market climb. In a market where well-priced homes are attracting multiple offers and overpriced homes aren't attracting any, the listing price is the most consequential decision a seller makes.

Markham's market in early 2026 is telling a nuanced story: volume is recovering, prices have reset to a more sustainable level, and supply is quietly tightening. That's not a distressed market — it's a market in the early stages of rebalancing. Whether spring confirms that trajectory or reverses it will depend on what the Bank of Canada signals at its April 29 rate announcement and whether the broader GTA finds its footing before inventory starts to build again.