Over the past 12 months, the average sold price in Markham has experienced modest fluctuations. The latest data, with an average price of approximately $1,220,000 in January 2025, reflects a slight decline compared to around $1,269,000 recorded in January 2024. This decline—mirrored by a one-year HPI drop of about 2.91%—suggests a cooling in the short term despite strong long‐term growth over the past five and ten years (approximately 45% and 87% increases, respectively). Such price adjustments indicate that while the market historically has been upward trending, recent months have seen more volatile shifts with short-term indicators like one-month and three-month declines (-0.83% and -0.43%).

Market supply and demand metrics further underscore this transition. Recent months have seen a relatively high number of new listings and active inventory, with the latest figures showing 512 new listings and 666 active listings combined with a higher average days on market (DOM) of 34 and nearly four months of inventory. This suggests a softer turnover compared to earlier sharper competitive periods (where DOM dipped as low as 16 and months of inventory fell under two). The current balance, or slight oversupply, indicates a market leaning toward stabilization, making it essential for real estate agents to advise sellers to price their properties competitively and for buyers to remain alert for opportunities as short-term market pressures ease.

Read the full article on: Toronto Regional Real Estate Board