Buying a home in Markham cost noticeably less at the end of 2025 than a year earlier, according to December figures released Jan. 7 by the Toronto Regional Real Estate Board.

Markham's composite benchmark price, which tracks a typical home using the MLS Home Price Index, stood at $1,108,200 in December, down 8.08 per cent from December 2024. That was a steeper drop than the 6.3 per cent decline for the whole TRREB area, and close to York Region overall, where the benchmark fell 8.23 per cent to $1,131,600.

December in Markham

TRREB's report shows 171 homes changed hands in Markham in December. The average selling price was $1,187,221 and the median was $1,070,000. Another 248 properties were newly listed during the month.

On average, homes sold for 97 per cent of their asking price and spent 36 days on the market.

Benchmark prices fell across every home type in the city compared with a year earlier:

  • Detached: $1,524,000, down 7.77 per cent.

  • Semi-detached: $1,081,000, down 7.59 per cent.

  • Townhouse: $777,700, down 10.82 per cent.

  • Apartment: $491,100, down 5.36 per cent.

The year in review

For all of 2025, Markham recorded 2,766 sales with an average price of $1,217,016 and a median of $1,175,000, TRREB data shows.

Across the GTA, sales fell 11.2 per cent in 2025 to 62,433, while new listings rose 10.1 per cent to 186,753. The average selling price for the year was $1,067,968, down 4.7 per cent. December sales across the board's area totalled 3,697, down 8.9 per cent from a year earlier.

The board said elevated listing inventory allowed buyers to negotiate prices down over the year, which, along with lower mortgage rates, improved affordability.

The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower. Improved affordability has set the market up for recovery.

— Daniel Steinfeld, TRREB president

TRREB's chief information officer said households will need more confidence in their jobs before sales pick up.

GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market.

— Jason Mercer, TRREB chief information officer