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- Average price, Markham, all property types
- $1,117,006As of October 2026.Source
- Median price, Markham, all property types
- $1,050,000As of October 2026.Source
- Months of inventory and sale-to-list ratio, Markham
- 4.1 months, 98%As of October 2026.Source
- Population of Markham, and change since 2016
- 338,503 (up 2.9%)As of 2021 Census.Source
On this page
Markham is a York Region city where supply was tight in October 2026 and the population grew slowly between the last two censuses. Homes sell quickly, so the useful question for an owner is how much of a high value a lender will count.
Markham at a $1,117,006 average and 4.1 months of supply
TRREB’s October 2026 Market Watch reports 260 Markham sales, an average of $1,117,006 and a median of $1,050,000. Over the first ten months of 2026 the average was $1,143,564 and the median $1,080,000, so October came in below the year so far. The sale-to-list ratio was 98%, with homes taking an average of 30 days to sell. Detached homes averaged $1,522,789 in October and condo apartments $433,333.
Inventory was 4.1 months, compared with 5.0 across York Region and 4.8 in Vaughan. Tight supply supports prices, and a lender reads it as comfort about resale. It is not a promise about your house, and the appraisal for a second mortgage is done on your property alone.
A slow-growth city with big balances
Between 2016 and 2021 Markham added 9,537 people, reaching 338,503, a 2.9% rise from 328,966. Ontario grew 5.8% in the same years. For owners the effect is that equity depends on resale demand, not on new people crowding in. If you bought in the last few years at a high price, your equity may mostly be what you have paid off.
What the average price and a paid-off home can reach
Under the 80% limit the Financial Consumer Agency of Canada describes, our first example, an owner at the average price with $650,000 owing, has $243,605 of room. The second, a home with no mortgage, has $840,000.
Owners who are self-employed or who hold rental units often have the equity but not the paperwork a bank wants. See self-employed second mortgages and rental property second mortgages for how those files are judged. For debt payoff, test the maths on the consolidation page.
Fees on a Markham loan, and the municipal-tax question
Ontario’s land transfer tax applies to purchases and we found no tax line for registering a second mortgage. The province’s own page mentions a municipal tax only for Toronto. For a loan on your Markham home you will pay the lender’s fee, a broker fee, legal costs, an appraisal and a registration fee. The Ontario page sets out the registration fee and a worked cost example.
If the home is owned outright, a loan against it is a first mortgage rather than a second. Ask the agent which applies, as fees and terms can differ.
Markham inside York Region
York Region’s October 2026 average was $1,142,789 and its median $1,050,000, across 1,038 sales. Markham’s $1,117,006 average sits $25,783 below the regional figure, and its 260 sales were one quarter of the total. Richmond Hill averaged $1,193,772, Aurora $1,170,302 and Newmarket $959,094, so a few kilometres can change the price a lot.
Detached homes are where the money is. The 111 detached sales averaged $1,522,789 with a median of $1,350,000, while the 59 condo apartments averaged $433,333. If you own a condo, the owned-outright example above does not describe you, and your room under a ceiling is far smaller than the city average implies.
Arrears and what CMHC says
CMHC’s October 27, 2026 release puts Ontario’s arrears rate at 0.32% for the second quarter of 2026, with a further rise expected through mid-2027 and most of it in the Greater Toronto and Hamilton Area. It names trade tensions in manufacturing, including automotive, as a driver. CMHC does not publish a Markham-only figure.
Fees in dollars, the term and the exit
Whatever the amount, ask for the fee schedule in dollars, the term of the loan, whether you pay only interest, and what you will do when it matures. A large equity cushion is not a reason to skip the exit plan. Owners with room to borrow often borrow more than they need, so decide the amount from the purpose, not from what the ceiling would allow.
A licensed route for a Markham loan
Lenders of this kind of loan work through Level 2 agents and brokers in Ontario. Ask for the licence number and confirm it on the register.
When your Markham figures are ready, ask for a licensed professional’s view. For comparison, read the pages for Vaughan and Oshawa.
A Markham home at the October 2026 average, with $650,000 owing
The $1,117,006 value is TRREB's October 2026 average price for Markham, all property types, as a stand-in for an appraisal. The $650,000 first mortgage and $100,000 loan are made up. The 80% ceiling is the one the Financial Consumer Agency of Canada describes.
- Home value used
- $1,117,006
- Equity before the loan
- $467,006
- 80% of the home value
- $893,605
- Combined loan-to-value with a $100,000 loan
- 67.1%
- Room under an 80% ceiling before the loan
- $243,605
$1,117,006 minus $650,000
$1,117,006 times 0.8, rounded
$750,000 owed on $1,117,006
A Markham home owned outright at the October 2026 median
The $1,050,000 value is TRREB's October 2026 median price for Markham, all property types. No existing mortgage, and a made-up $150,000 loan.
- Home value used
- $1,050,000
- 80% of the home value
- $840,000
- Combined loan-to-value with a $150,000 loan
- 14.3%
- Equity left after the loan
- $900,000
- Room under an 80% ceiling
- $840,000
$1,050,000 times 0.8
$150,000 on $1,050,000
$1,050,000 minus $150,000
Questions people ask
Does low inventory in Markham mean I can borrow more?
Not by itself. Markham had 4.1 months of inventory in October 2026, tighter than most of its neighbours, which helps resale confidence. The lender still bases the loan on its own appraisal, the first mortgage balance and the ceiling it applies.
If my Markham home is paid off, is a second mortgage the right name for the loan?
That is a first mortgage in law, because nothing sits ahead of it. The rules and costs are similar, but the lender's risk is lower. A licensed agent can explain which product applies and what the fees would be.
How much did Markham's population change in the last census?
Statistics Canada counted 338,503 people in 2021, up 2.9% from 328,966 in 2016. That is about half Ontario's 5.8% growth. It tells you the city grew slowly, not what your home is worth.
Is the Markham median a safer guide than the average?
Usually, yes. In October 2026 the average was $1,117,006 and the median $1,050,000, so a few expensive sales lifted the average by $67,006. Neither replaces an appraisal of your own property.