For two years, every market in York Region has been a buyer's market. Markham is about to be the first one out. Its sales-to-new-listings ratio hit 39.4% in July, and TRREB draws the balanced-market line at 40%. Sales were up 8.3% from last July while every other big market in the region was flat or down, and inventory is the tightest in the region at 4.2 months. Prices are still adjusting, and we will get into that honestly. But the direction here is different from anywhere else in York Region, so let's look at the numbers.
How Did Markham Real Estate Change Year Over Year in July 2026?
Markham recorded 288 sales in July 2026, up 8.3% from 266 in July 2025, once again the most of any York Region municipality. The average price fell 9.2% to $1,131,324, and the median fell 8.0% to $1,062,500. New listings dropped 8.7% to 704, and active inventory came down 10.8% to 1,168, lifting the SNLR from 35.8% to 39.4%, the highest in the region and a twelve-month high for Markham.
Here is the full year-over-year picture.
| Metric | July 2025 | July 2026 | Change |
|---|---|---|---|
| Average Price | $1,246,087 | $1,131,324 | -9.2% |
| Median Price | $1,155,000 | $1,062,500 | -8.0% |
| Total Sales | 266 | 288 | +8.3% |
| New Listings | 771 | 704 | -8.7% |
| Active Listings | 1,310 | 1,168 | -10.8% |
| SNLR | 35.8% | 39.4% | +3.6 pts |
| Average Days on Market | 30 | 32 | +2 days |
| SP/LP | 98% | 99% | +1 pt |
Source: TRREB Market Watch, July 2026 and July 2025
Prices are down meaningfully from last July, 9.2% on average and 8.0% on the median. The two numbers falling almost in step tell you this is not a mix illusion; the whole market repriced over the past year. But one month's year-over-year comparison always deserves a second look, and last July was a strong pricing month for Markham. What I watch is where the price lands against the recent trend, and July's $1,131,324 average sits within a few percent of where Markham has traded all spring. The market found its level and has been holding it.
Now the part that separates Markham from its neighbours. The sale-to-list ratio came in at 99%, up a point from last year, and the highest in York Region alongside Richmond Hill. On a median home at $1,062,500, that is roughly $11,000 between asking and closing. That is not a market where buyers dictate terms. That is a market one small step from sellers getting their full number, and in a couple of segments, as you will see below, they are already getting more than that.
More Sales, Fewer Listings, and a Ratio That Keeps Climbing
Volume up 8.3% in a month when York Region overall managed 1.3% is a real signal. So is the supply side: sellers brought 8.7% fewer homes to market, and active inventory fell nearly 11%. Markham was the only major market in the region to post a sales increase and a listings decrease of this size at the same time, and that combination is precisely how a 35.8% SNLR becomes 39.4% in twelve months.
Homes took 32 days to sell on average, two days longer than last July, which gives buyers just enough room for due diligence without giving them leverage. At 4.2 months of inventory, Markham has the least supply cushion in York Region. If the fall market brings buyers back the way it usually does, that cushion gets thin fast.
What Happened by Property Type in Markham This July?
Detached homes led with 124 sales and an average of $1,507,841, down 10.2% year over year. Semi-detached homes were the story of the month, closing at 103% of asking, over list price on average, with freehold townhouses right behind at 101%. Condo apartments did 63 sales, with the average down 7.7% to $637,452, the softest segment but still tighter than condos anywhere else in the region.
Average Sold Price by Property Type
| Property Type | July 2025 | July 2026 | Change |
|---|---|---|---|
| Detached (124 sales) | $1,678,690 | $1,507,841 | -10.2% |
| Semi-Detached (19 sales) | $1,091,923 | $1,059,315 | -3.0% |
| Freehold Townhouse (46 sales) | $1,070,782 | $1,059,661 | -1.0% |
| Condo Townhouse (22 sales) | $785,269 | $722,018 | -8.1% |
| Condo Apartment (63 sales) | $690,334 | $637,452 | -7.7% |
Source: TRREB Market Watch, July 2026
Median Sold Price by Property Type
| Property Type | July 2025 | July 2026 | Change |
|---|---|---|---|
| Detached (124 sales) | $1,471,000 | $1,390,000 | -5.5% |
| Semi-Detached (19 sales) | $1,062,000 | $1,043,988 | -1.7% |
| Freehold Townhouse (46 sales) | $1,039,400 | $979,000 | -5.8% |
| Condo Townhouse (22 sales) | $770,700 | $716,944 | -7.0% |
| Condo Apartment (63 sales) | $652,500 | $570,000 | -12.6% |
Source: TRREB Market Watch, July 2026
Read the sale-to-list column of this market, and you find something that does not exist anywhere else in York Region right now: two full segments selling over asking. Semis at 103% and freehold townhouses at 101%, with townhouse volume up from 36 to 46 sales and semis selling in 25 days. The freehold middle of Markham, everything between roughly $950,000 and $1,100,000, is a genuine competition zone. Buyers in this bracket should walk in expecting multiple-offer dynamics on well-priced homes, because that is what 103% of asking means in practice.
Detached tells a more measured story. The average fell 10.2%, but the median fell 5.5%, and whenever those two split that wide, the top end is doing most of the falling. The typical detached home traded at $1,390,000, down from $1,471,000 last July. Meaningful, not dramatic. With 124 sales at a 98% sale-to-list ratio, detached demand is intact; it is the luxury tier above $2 million that has gone quiet and dragged the average with it.
Condo apartments earn their usual caveat, but a smaller one here than elsewhere. Down 7.7% on the average and 12.6% on the median, 41 days to sell, and a 98% ratio. That is the most negotiable corner of Markham, and with 63 sales it is liquid enough that the numbers mean something. For first-time buyers targeting Markham's transit lines and job centres, the math has not been this workable in years, and the segment is still moving faster here than the 45-day regional condo average.
What Has Markham Real Estate Done Over the Past 12 Months?
The average price has held a band between $1,068,928 in February and $1,230,833 in October, finishing at $1,131,324 in July. Sales bottomed at 163 in January and have climbed almost every month since, peaking at 360 in June. The SNLR tells the cleanest story: from 34.5% last winter to 39.4% now, with months of inventory tightening from 4.7 to 4.2.
| Month | Average Price | Sales | SNLR | MOI |
|---|---|---|---|---|
| July 2026 | $1,131,324 | 288 | 39.4% | 4.2 |
| June 2026 | $1,136,454 | 360 | 38.8% | 4.3 |
| May 2026 | $1,199,667 | 303 | 37.4% | 4.5 |
| April 2026 | $1,140,668 | 250 | 35.9% | 4.6 |
| March 2026 | $1,155,505 | 225 | 35.7% | 4.7 |
| February 2026 | $1,068,928 | 182 | 35.2% | 4.7 |
| January 2026 | $1,100,945 | 163 | 34.5% | 4.7 |
| December 2025 | $1,187,221 | 171 | 34.5% | 4.7 |
| November 2025 | $1,149,893 | 219 | 34.9% | 4.6 |
| October 2025 | $1,230,833 | 281 | 35.5% | 4.4 |
| September 2025 | $1,177,290 | 259 | 35.9% | 4.3 |
| August 2025 | $1,136,323 | 240 | 35.6% | 4.3 |
Source: TRREB Market Watch, August 2025 through July 2026
This table shows a market that never really loosened. Markham's months of inventory peaked at 4.7 over the winter, a level Richmond Hill would have taken gladly, and has ground back down to 4.2. The SNLR has climbed every single month since January, six in a row. And through all of it, the sale-to-list ratio never left the 97% to 99% band. There was no moment in the past year when Markham buyers held real pricing power; they simply had more time and more choice than usual. That era is measurably ending: the ratio has been at 99% for three straight months now.
The price column looks flat because it is. Markham has traded within about 7% of $1,150,000 for the entire year, no collapse, no recovery, just a market waiting for its supply-demand balance to pick a direction. The SNLR says it is picking one now.
How Did Markham's July Compare to June 2026?
Sales stepped down 20.0% from June's 360, standard summer behaviour, while new listings fell 11.3% to 704. The average price barely moved, down 0.5% to $1,131,324, with the median off 0.8% to $1,062,500. The SNLR added another 0.6 points to hit 39.4%, and days on market stretched from 29 to 32.
| Metric | June 2026 | July 2026 | Change |
|---|---|---|---|
| Average Price | $1,136,454 | $1,131,324 | -0.5% |
| Median Price | $1,071,000 | $1,062,500 | -0.8% |
| Total Sales | 360 | 288 | -20.0% |
| New Listings | 794 | 704 | -11.3% |
| Active Listings | 1,172 | 1,168 | -0.3% |
| SNLR | 38.8% | 39.4% | +0.6 pts |
| Average Days on Market | 29 | 32 | +3 days |
| SP/LP | 99% | 99% | 0 |
Source: TRREB Market Watch, July 2026 and June 2026
The flat price line is the quiet headline here. June to July, the average moved half a percent. In a market where the year-over-year comparison sounds scary, the month-to-month reality is a market trading sideways with remarkable consistency. And the SNLR rising through a slower month means the tightening is structural, not seasonal: sellers withdrew faster than buyers did.
Across the region, July's slowdown was universal but uneven. York Region sales fell 17.5% month over month, Vaughan fell 18.3%, Richmond Hill nearly 21%. Markham's 20% pullback from a huge June still left it comfortably the region's volume leader, 16 sales ahead of Vaughan.
For a full breakdown of last month's numbers, take a look at our Markham June 2026 Market Update.
What This Means Heading into August 2026
What Should Markham Sellers Do Right Now?
You are in the strongest seller's position in York Region, and it is still not 2021, so hold both of those thoughts. A 39.4% SNLR and 4.2 months of inventory mean a priced-right home sells near asking, and in the semi and townhouse segments, at or above it. But the luxury detached tier is moving slowly, and buyers at every level are informed and patient. Price to the last ninety days of your segment's sales. If you own a semi or a townhouse, this is the best listing environment you have seen in three years, and August ahead of the fall market is a legitimate time to move.
Is This a Good Time to Buy in Markham?
If Markham is your target, understand that you are shopping in the region's most competitive market, and time is not on your side the way it is elsewhere. The median is 8% below last July, rates are stable, and detached homes still close at 98% with room to negotiate above $1.5 million. That is the opportunity. The warning is the trendline: when the SNLR crosses 40%, and at the current pace that could happen this fall, the conditional offers and below-asking deals that are routine today get harder to land. Condos remain the most negotiable entry point. In the freehold middle, come pre-approved and ready to compete.
What to Watch in August 2026
The 40% line, obviously. Markham's SNLR sits 0.6 points below the threshold TRREB treats as the start of a balanced market, and it has added nearly five points since January. Second, watch the luxury detached tier: if sales above $2 million wake up in the fall, the detached average will snap back, and the headline decline will shrink fast. And third, new listings. Markham sellers pulled back 8.7% this July. If September's listing flow does not recover, the fall market opens with the least selection Markham buyers have faced since 2023, and pricing power starts changing hands. If X is a 40% SNLR and listings are falling, then Y is Markham's buyer window closing first in the region.