Markham Market Update: What You Need to Know This Spring

As spring unfolds, Markham and the GTA's real estate market presents a complex landscape.

While seasonal activity is picking up, we're navigating a mix of affordability challenges, cautious buyers, and rising inventory.  And with global headlines stirring concern, one question keeps popping up:

Could Trump’s Tariffs Impact Toronto Real Estate?
It’s the question we’re hearing more and more: Will U.S. tariffs have a ripple effect on the Toronto and GTA housing market? The truth is, no one has all the answers yet. While the economic backdrop is evolving, the Toronto/GTA real estate market has shown incredible resilience through past global shifts.

Here’s why we remain confident:

• Immigration is still strong. Canada expects almost 400,000 new permanent residents in 2025, with about 30% settling in the GTA—driving continued demand for housing.

• Housing supply remains critically low. Ontario is far behind on its goal of building 1.5–2 million homes by 2030.

• Pre-construction activity is nearly frozen. The slowdown in new condo projects points to a likely inventory shortage 3–5 years down the road.

• Our lending system is built for stability. Canada's mortgage stress test forces buyers to qualify at higher rates, helping prevent future payment shocks.

• Sellers are rarely desperate. In downturns, many Toronto/GTA homeowners simply delay selling rather than slash prices.

• People move for life reasons—not headlines. Jobs, babies, retirements, and lifestyle changes continue to drive moves more than economic news.

Tariffs may introduce some new headwinds, but real estate here has always been a long game. We’ll be tracking indicators closely—and keeping you informed.

Get TRREB Market Report Highlights for March 2025 here. 

Sales Volume: A Notable Decline
In March 2025, Markham recorded 220 home sales—a 28.3% drop compared to March 2024. This mirrors the broader GTA trend, where sales fell 23.1% year-over-year.

Pricing Trends: Modest Adjustments
The average home price in Markham was $1,213,744 in March 2025, down 9.9% from last year, but slightly down (0.2%) from February—suggesting a stabilization in prices.

Inventory Levels: An Uptick
New listings across the GTA jumped 28.6% year-over-year, creating more choice for buyers but also intensifying competition among sellers.

What This Means for You

For Sellers: Strategy is everything. With more listings and slower buyer urgency, expect longer days on market. The right pricing, marketing, and staging plan can make all the difference.

For Buyers: With more inventory and stable prices, this may be your moment to act. Buyers who take the time to understand the market and negotiate wisely are well-positioned this spring.

For Investors: While short-term uncertainty lingers, the fundamentals—immigration, low supply, strong demand—still favour long-term real estate investment in the GTA.

Toronto’s housing market has weathered economic curveballs before. Whether you’re buying, selling, or simply planning for the future, the best decisions come from clarity, not headlines.

Curious how current conditions or global shifts could affect your move? Let’s connect. We’re here to help you make the best next step, informed and confident.