Greater Toronto Area
Markham Real Estate Appraisals
Residential, Commercial & Industrial Property Appraisals in Markham, Ontario
REX Valuations provides professional real estate appraisal and property valuation services throughout Markham, Ontario and the surrounding York Region and Greater Toronto Area markets.
Our appraisal assignments include detached and semi-detached homes, townhouses and condominiums, commercial and mixed-use properties, industrial buildings, warehouses and flex facilities, office properties, retail real estate, multi-residential properties, vacant land, development land and other specialized real estate.
Appraisals may be required for financing, acquisitions and dispositions, matrimonial and litigation matters, estates, property taxation, expropriation, retrospective valuation and other purposes.
Markham Real Estate Market – Q2 2026
Markham's residential real estate market strengthened considerably through the second quarter of 2026. Transaction volume increased each month from April through June, while prices remained below the levels achieved one year earlier.
Approximately 913 residential properties sold in Markham during Q2 2026, based on 250 sales in April, 303 in May and 360 in June. Monthly average selling prices remained between approximately $1.14 million and $1.20 million.
By June, Markham recorded 360 sales, up 31.4% from June 2025. The average selling price was approximately $1,136,454, down 11.6% year-over-year, while the median price of $1,071,000 was down 15.0%. Months of inventory declined to approximately 4.3 and the sales-to-new-listings ratio increased to 38.8%.
Commercially, Markham remained one of the GTA's most significant suburban technology, office and industrial markets. Markham's large business base, Highway 404 and Highway 407 access, major corporate employers and extensive employment lands continue to support demand for industrial, flex, office and development properties.
Residential Real Estate Market in Markham – Q2 2026
The principal residential trend during Q2 2026 was rapidly improving sales volume combined with continued price sensitivity.
Sales increased 21.2% from April to May and another 18.8% from May to June, while months of inventory moved lower from 4.6 to 4.3. The market became progressively tighter as the quarter advanced.
Prices did not follow sales upward at the same pace. In May, Markham's average price remained 6.2% below May 2025; by June, the average price was 11.6% below the previous June. This combination indicates that purchasers were returning to the market as affordability improved, but buyers continued to evaluate properties carefully and remained sensitive to price.
The differences among housing categories were significant. Detached average pricing was approximately 4.6% below June 2025, while condominium apartments were down approximately 14.0%. A municipality-wide average does not establish the market value of an individual property.
Q2 2026 Trend
Sales jumped 44% from April to June — from 250 to 360 transactions — but the June average price of $1,136,454 was still 11.6% below June 2025. Buyers returned to the market well before prices recovered.
Markham Q2 2026 Residential Market Snapshot
| Indicator | Q2 2026 Quarter-End |
|---|---|
| Sales — April 2026 | 250 |
| Sales — May 2026 | 303 |
| Sales — June 2026 | 360 (+31.4% YoY) |
| Average Price — April | $1,140,668 |
| Average Price — May | $1,199,667 |
| Average Price — June | $1,136,454 (-11.6% YoY) |
| Median Price — June | $1,071,000 (-15.0% YoY) |
| Active Listings — June | 1,172 |
| Months of Inventory — June | 4.3 |
| Sales-to-New-Listings Ratio — June | 38.8% |
| Detached Average — June | $1,584,527 |
| Semi-Detached Average — June | $1,036,771 |
| Freehold Townhouse Average — June | $992,947 |
| Condo Townhouse Average — June | $848,455 |
| Condo Apartment Average — June | $600,259 |
TRREB Market Watch, April–June 2026; TRREB MLS System, Markham, June 2026.
Residential Neighbourhoods in Markham
Markham contains a range of housing markets, and values can differ materially across relatively short distances.
Unionville
Includes the historic Main Street district, older detached housing, luxury residences, newer infill development and condominium properties. Properties within or near historic areas may require consideration of heritage characteristics, lot configuration and redevelopment constraints in addition to conventional residential comparisons.
Berczy Village
Predominantly a newer suburban residential community containing detached, semi-detached and townhouse housing. Lot size, building area, age, school proximity, parks and location within the neighbourhood can result in meaningful value differences.
Angus Glen
Includes higher-value detached housing, townhouses and newer development associated with the broader north Markham growth area. Larger dwelling sizes, construction quality, lot characteristics and proximity to golf and community amenities can influence value.
Cornell
One of Markham's major newer communities containing a broad mixture of detached homes, semi-detached dwellings, townhouses, condominium development and emerging higher-density areas. The Cornell Centre Secondary Plan remains part of Markham's ongoing planning program.
Wismer and Greensborough
Contain predominantly newer suburban detached, semi-detached and townhouse housing with access to Mount Joy GO Station and the Markham Road corridor.
Markham Village
Contains older housing, historic properties, newer infill development and residential communities surrounding Main Street Markham.
Box Grove
Includes detached, semi-detached and townhouse development in southeast Markham together with commercial properties along Highway 7 and surrounding arterial roads.
Thornhill (Markham portion)
Contains established detached neighbourhoods, luxury housing, townhouses and condominiums along major corridors including Yonge Street, Bayview Avenue and Leslie Street.
Milliken and Milliken Mills
Southern Markham contains a diverse range of detached, semi-detached, townhouse and condominium properties and is influenced by proximity to Toronto, Steeles Avenue and major employment districts.
Commercial Real Estate Market in Markham – Q2 2026
Markham is one of York Region's largest commercial employment centres and has an unusually diversified commercial property base.
The city's economy includes technology companies, financial services, insurance, professional services, manufacturing, healthcare and a substantial industrial and flex-property sector.
Markham's 2025 Economic Profile reported approximately 364,460 residents, 184,645 surveyed jobs and 9,899 surveyed businesses, with net job growth of approximately 6,371 jobs between 2022 and 2024. Major employers include IBM Canada, TD Bank Financial Group, AMD, CGI, Aviva Canada, SE Health and Allstate.
Industrial Property in Markham
Industrial real estate remained active in Markham during Q2 2026.
A Colliers-derived Q2 market breakdown divided Markham into eastern and western industrial submarkets. Markham East reported approximately 4.2% availability and average asking net rent of approximately $17.78 per square foot, with roughly 125,000 square feet under construction. Markham West reported approximately 3.0% availability and $16.75 per square foot.
Another Q2 GTA North analysis identified approximately 34.2 million square feet of industrial inventory in Markham and reported more than 814,000 square feet of quarterly leasing activity, making Markham one of the most active industrial leasing markets in northern GTA during the quarter.
Notable Q2 leasing activity included a 287,016-square-foot Tesla Motors Canada commitment at 175 Hillmount Road and a 196,361-square-foot Signify renewal at 281 Hillmount Road. Q2 sales over 20,000 square feet included approximately $287 per square foot at 120 Valleywood Drive, $403 per square foot at 201 Whitehall Drive and $428 per square foot at 250 Ferrier Street — differences that reflect property-specific characteristics rather than random pricing variation.
Key industrial valuation factors
- Building area and clear ceiling height
- Truck-level and drive-in loading
- Office percentage and site coverage
- Yard area and outside storage
- Electrical capacity and age/condition
- Environmental condition and zoning
- Highway 404 and Highway 407 access
- Excess land and expansion potential
- Highest and best use
Office and Commercial Property in Markham
Markham forms an important part of the Toronto North suburban office market and has a particularly substantial office sector relative to many GTA suburbs, driven by its large corporate employment base.
CBRE reported that overall suburban GTA office vacancy declined from 20.7% to 20.2% during Q2 2026, while absorption was driven largely by Class A leasing, including strong activity in the Toronto North market. Average suburban asking net rent increased to approximately $18.38 per square foot. These are regional rather than Markham-specific statistics.
Markham is also home to York University's Markham Campus, which opened in 2024 and was planned for approximately 4,200 students in its first phase — adding an institutional dimension to the local real estate market.
What Drives Real Estate Values in Markham?
Markham's economic base is one of its defining real estate characteristics. Its labour force has significant concentrations in professional, scientific and technical services, finance and insurance, healthcare, manufacturing, education, wholesale trade and technology-related employment.
The combination of corporate employment, technology companies, educational institutions and transportation infrastructure supports demand for residential housing, offices, industrial space, retail and development land.
Major Commercial and Employment Areas in Markham
Highway 404 Corridor
One of Markham's principal employment locations containing large concentrations of office, technology, industrial and flex properties. Access to Highways 404 and 407 provides strong regional connectivity.
Allstate Parkway / Commerce Valley / Leslie Street
Contains substantial office and corporate employment inventory, particularly near Highway 7 and Highway 404.
Woodbine Avenue and 404 North
Northern Markham contains newer industrial and employment development, including modern distribution and manufacturing facilities.
Markham Centre
The municipality's principal emerging downtown and mixed-use growth district. Includes office, condominium, retail, institutional and mixed-use development concentrated around Highway 7, Warden Avenue, Enterprise Boulevard and Unionville GO Station.
Highway 7 Corridor
Functions as one of Markham's principal commercial and rapid-transit corridors and includes office, retail, mixed-use and redevelopment properties.
Markham Road
Contains retail, service-commercial, mixed-use and employment properties and is also the focus of the ongoing Markham Road–Mount Joy Secondary Plan process.
Transportation and Accessibility
Markham benefits from direct access to Highway 404 and Highway 407, together with major east-west and north-south arterial roads such as Highway 7, Steeles Avenue, Woodbine Avenue, Warden Avenue and Markham Road.
GO Transit service along the Stouffville line includes stations serving Markham communities such as Unionville, Centennial, Markham and Mount Joy. York Region Transit's Viva service operates along Highway 7 and other major corridors.
Unionville GO and rapid transit are particularly relevant to the development of Markham Centre. Transportation can influence commercial property utility, industrial logistics, office accessibility and residential demand, although the market effect must be supported by comparable evidence rather than assumed.
Development, Planning and Zoning in Markham
Development planning is particularly relevant to Markham real estate because a significant amount of future growth is expected to occur through intensification.
The City continues work on Secondary Plans for Markham Centre, Markham Road–Mount Joy, Markville, Milliken Centre, Yonge Corridor and Cornell Centre. Development applications during 2026 also continued to demonstrate significant interest in higher-density development along Highway 7 and other transit corridors.
Markham's Comprehensive Zoning By-law 2024-19 is now the principal city-wide zoning document for most properties. The Ontario Land Tribunal approved the by-law on a city-wide basis in September 2024, except for lands subject to remaining site-specific appeals, and determined that it was deemed to have come into force on January 31, 2024. Not every Markham property is included, so parcel-specific zoning confirmation remains necessary.
What Affects Property Value in Markham?
There is no single "Markham price per square foot" that reliably determines market value. A professional appraisal considers the specific competitive market for the property, rather than applying a municipal average to an individual asset.
Residential
- –Neighbourhood and property type
- –Lot dimensions and dwelling size
- –Age, condition and renovation quality
- –Garage, parking and school proximity
- –Transit and GO station access
- –Heritage characteristics
- –Recent comparable sales
Commercial & Industrial
- –Zoning and permitted use
- –Building area, clear height and shipping
- –Site coverage and outside storage
- –Market rent, vacancy and lease terms
- –Capitalization rates and operating costs
- –Highway 404 and 407 access
- –Tenant quality and environmental condition
- –Redevelopment potential
Vacant & Development Land
- –Official Plan and Secondary Plan designation
- –Zoning By-law 2024-19 and site-specific appeals
- –Density and servicing
- –Development charges and approvals
- –Environmental constraints
- –Highest and best use
Real Estate Appraisal Services in Markham
REX Valuations provides appraisal and valuation services for a range of Markham properties, including commercial, office and industrial properties; residential properties; vacant and development land; investment properties; and specialized real estate.
Assignments may be required for
- Financing
- Acquisition or disposition
- Estate matters
- Matrimonial proceedings
- Litigation support
- Property taxation
- Expropriation
- Insurance
- Investment analysis
- Retrospective valuation
Markham Real Estate Appraisal – Quick Answers
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