Markham's housing market cooled in September, with the average sale price falling 6.9 per cent as sellers returned in larger numbers after a quiet summer, according to TRREB September 2026 Market Watch data.

The Toronto Regional Real Estate Board reported 245 sales in Markham last month, down from 282 in August. The average price was $1,125,353, compared with $1,208,692 in August, while the median price was $1,051,000. The figures were released October 6.

More homes on the market

New listings jumped to 729 in September, up from 584 in August — an increase of nearly 25 per cent — while active listings reached 1,122. The added supply gave buyers more choice and took some of the pressure off prices.

Only about 34 per cent of new listings sold in September, down from roughly 48 per cent in August, a sign that supply grew faster than demand over the month.

Even so, homes continued to sell for about 98 per cent of their list price, and trend inventory held steady at 4.1 months, keeping Markham in balanced territory. A trend sales-to-new-listings ratio of 40.5 per cent leans slightly toward buyers, suggesting room to negotiate on some properties.

Part of the drop in the average price reflects the mix of homes sold rather than falling values across the board. Detached homes made up about 46 per cent of September sales, and a smaller share of higher-priced properties pulls the average down even when values on a given street have not changed much.

Homes taking longer to sell

Markham homes averaged 34 listing days on market in September, but 50 property days on market — a figure that tracks the full time a home has been for sale, including previous listings. The Kaizen Real Estate Team, which compiled the local analysis, notes that buyers and sellers often need both numbers to gauge how much room there is to negotiate.

The report cautions that city-wide averages can mask wide variation between neighbourhoods. A detached home on a large lot in Unionville, a townhouse in Cornell and a condo in Markham Centre each compete with a different set of listings and attract different buyers. The analysis states that "a city-wide average can hide very different conditions from one neighbourhood to the next."

Across the Greater Toronto Area, the average price was $1,006,409 in September, down 5.1 per cent from a year earlier. GTA sales held steady from August while new listings rose with the start of the fall market. Supply across the region remains about 14 per cent below 2025 levels, which the report says could matter if buyers return in larger numbers.

The report also notes that the next scheduled interest rate announcement is October 28, 2026. The policy rate was held at 2.25 per cent on September 2.

For Markham residents weighing a move, the report recommends comparing sales from the past 90 days for similar homes on similar streets, since those are the numbers buyers and appraisers rely on.