Should You Sell Your Markham Condo and Upgrade to a Detached Home in 2026?
Michael John Lau and Neeraj Moolchandani are top REALTORS in Markham and leaders of the Kaizen Real Estate Team at eXp Realty, Luxury Division. With deep expertise in Markham and the Greater Toronto Area, they specialize in luxury properties, pre-listing preparation, and helping families find the right home in the right community. Condo inventory has increased in Markham, while desirable single-family homes remain limited in York Region. This creates a unique dynamic for move-up buyers in 2026. Here is everything you need to know before making the leap from condo to detached.
Michael John Lau, REALTOR® and top-rated Markham real estate agent, is seeing a distinct shift in the move-up market. Condo inventory has increased significantly, creating a buyer's market for those looking to sell their condo. However, desirable single-family homes in York Region remain limited, creating a seller's market for detached properties. This "mixed market" dynamic means move-up buyers in Markham may be sitting on equity but facing a tighter freehold market above them.
2026 Market Snapshot — The Move-Up Gap: Condo prices are down approximately 4.8% year-over-year, increasing supply. Meanwhile, detached home inventory in Markham remains tight, keeping prices relatively stable. For move-up buyers, this means your condo might sell for less than peak, but the detached home you want to buy is also more negotiable than in previous years — or holds value better due to scarcity.
For condo owners who have been waiting to upgrade for a growing family or more space, 2026 presents a strategic opportunity. The key is understanding the "Equity Gap" — the difference between what your condo sells for and what the detached home costs — and navigating the timing of selling one while buying the other.
The 2026 Market Dynamic: Condo Glut vs. Detached Scarcity
Understanding the supply and demand imbalance is critical for move-up buyers. Michael John Lau and Neeraj Moolchandani analyze these trends to help clients time their moves effectively.
With increased condo inventory in Markham, you may face more competition when selling. However, this also means you are buying into a market with choices. Pricing your condo correctly is essential to avoid long days on market.
Desirable detached homes in communities like Unionville, Cornell, and Box Grove remain scarce. While prices have corrected from peaks, well-located freehold homes still attract multiple offers. You need to be prepared to act quickly when the right home hits the market.
Best Neighbourhoods for Move-Up Buyers in Markham
Moving from a condo to a detached home often means prioritizing schools, yards, and community feel. Here are the top areas for families upgrading in 2026.
A master-planned community with excellent schools, parks, and a mix of detached and semi-detached homes. Ideal for families moving from condos who want a modern neighbourhood feel.
One of Markham's newest communities. Offers larger lot sizes and newer builds compared to established areas. Great for buyers wanting a brand-new detached home with modern layouts.
Markham's most prestigious area. Heritage charm, top-rated schools, and walkable Main Street. Detached homes here hold value exceptionally well and are in high demand.
Older, larger lots on mature streets. Close to GO Transit and amenities. Ideal for buyers who value location and land size over brand-new finishes.
Calculating the Equity Gap in 2026
The most important number for a move-up buyer is the "Gap" — the additional cash or mortgage required to move from a condo to a detached home.
| Scenario | Current Condo Value | Target Detached Price | The "Gap" |
|---|---|---|---|
| Entry Move-Up | $600,000 (2-Bed Condo) | $1,300,000 (3-Bed Semi/Detached) | $700,000+ (New Mortgage + Equity) |
| Standard Move-Up | $750,000 (Luxury Condo) | $1,600,000 (4-Bed Detached) | $850,000+ (New Mortgage + Equity) |
| Premium Move-Up | $900,000 (Penthouse) | $2,200,000+ (Executive Home) | $1,300,000+ (Significant Equity Required) |
Step-by-Step: How to Execute a Move-Up in Markham
Michael John Lau and Neeraj Moolchandani guide move-up buyers through the complex logistics of selling and buying simultaneously. Here is the recommended process for 2026.
Before looking at detached homes, you must know exactly what your condo is worth in today's market. Michael and Neeraj provide a Comparative Market Analysis (CMA) based on recent sales, not just listing prices, to give you a realistic net proceeds number.
- Sell First — Safest option, but requires temporary housing if timing doesn't align.
- Buy First — Requires bridge financing to cover the down payment on the new home before the condo sells.
- Simultaneous Closing — Ideal but difficult to coordinate. Michael and Neeraj negotiate closing dates to align as closely as possible.
Hidden Costs of Moving Up in Ontario — 2026
Move-up buyers often underestimate the transaction costs involved in selling and buying simultaneously. Here is what to budget for.
Unlike first-time buyers, move-up buyers must pay the full Ontario Land Transfer Tax on the purchase of the new home. On a $1.5M home, this is approximately $26,000+. (Note: Markham does not have a municipal LTT, unlike Toronto).
When selling your condo, you will pay commission to the listing and buyer's agents. This comes out of your equity and reduces the funds available for the down payment on the new home.
Budget for professional movers, utility hookups, and immediate furnishings or repairs for the new detached home. Moving from a condo to a house often requires new appliances (washer/dryer) and landscaping tools.
What Move-Up Buyers Ask Michael & Neeraj
In 2026, with condo inventory high, selling first is often safer to ensure you have the funds and don't get stuck carrying two mortgages. However, if you have strong equity and income, bridge financing allows you to buy first and secure the perfect home without pressure.
Yes, if you plan to stay long-term. While condo prices are down, detached homes in prime Markham locations have shown resilience. Locking in a detached home now secures your family's housing for the next decade, regardless of short-term market fluctuations.
Lenders will look at your gross income, debts, and the stress test rate. Having a significant down payment from your condo equity helps. Michael and Neeraj work with top mortgage brokers who specialize in move-up buyer scenarios to maximize your borrowing power.
This is a risk in a high-inventory market. We mitigate this by pricing aggressively from day one and marketing extensively. If it does linger, we can adjust the strategy or discuss bridge financing options to keep your purchase on track.
Michael John Lau and Neeraj Moolchandani are Markham's top REALTORS®. They help move-up buyers sell their condos for top dollar and find the perfect detached home for their family's future.
🏆 Michael John Lau & Neeraj Moolchandani — Awards & Recognition
Michael John Lau and Neeraj Moolchandani are licensed REALTORS® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Pricing information is based on recent market data and is subject to change. Always consult directly with a licensed real estate professional and a qualified mortgage broker for the most current pricing, program eligibility, and availability. Not intended to solicit clients currently under contract with another brokerage.
Should You Sell Your Markham Condo and Upgrade to a Detached Home in 2026?
Michael John Lau and Neeraj Moolchandani are top REALTORS in Markham and leaders of the Kaizen Real Estate Team at eXp Realty, Luxury Division. With deep expertise in Markham and the Greater Toronto Area, they specialize in luxury properties, pre-listing preparation, and helping families find the right home in the right community. Condo inventory has increased in Markham, while desirable single-family homes remain limited in York Region. This creates a unique dynamic for move-up buyers in 2026. Here is everything you need to know before making the leap from condo to detached.
Michael John Lau, REALTOR® and top-rated Markham real estate agent, is seeing a distinct shift in the move-up market. Condo inventory has increased significantly, creating a buyer's market for those looking to sell their condo. However, desirable single-family homes in York Region remain limited, creating a seller's market for detached properties. This "mixed market" dynamic means move-up buyers in Markham may be sitting on equity but facing a tighter freehold market above them.
2026 Market Snapshot — The Move-Up Gap: Condo prices are down approximately 4.8% year-over-year, increasing supply. Meanwhile, detached home inventory in Markham remains tight, keeping prices relatively stable. For move-up buyers, this means your condo might sell for less than peak, but the detached home you want to buy is also more negotiable than in previous years — or holds value better due to scarcity.
For condo owners who have been waiting to upgrade for a growing family or more space, 2026 presents a strategic opportunity. The key is understanding the "Equity Gap" — the difference between what your condo sells for and what the detached home costs — and navigating the timing of selling one while buying the other.
The 2026 Market Dynamic: Condo Glut vs. Detached Scarcity
Understanding the supply and demand imbalance is critical for move-up buyers. Michael John Lau and Neeraj Moolchandani analyze these trends to help clients time their moves effectively.
With increased condo inventory in Markham, you may face more competition when selling. However, this also means you are buying into a market with choices. Pricing your condo correctly is essential to avoid long days on market.
Desirable detached homes in communities like Unionville, Cornell, and Box Grove remain scarce. While prices have corrected from peaks, well-located freehold homes still attract multiple offers. You need to be prepared to act quickly when the right home hits the market.
Best Neighbourhoods for Move-Up Buyers in Markham
Moving from a condo to a detached home often means prioritizing schools, yards, and community feel. Here are the top areas for families upgrading in 2026.
A master-planned community with excellent schools, parks, and a mix of detached and semi-detached homes. Ideal for families moving from condos who want a modern neighbourhood feel.
One of Markham's newest communities. Offers larger lot sizes and newer builds compared to established areas. Great for buyers wanting a brand-new detached home with modern layouts.
Markham's most prestigious area. Heritage charm, top-rated schools, and walkable Main Street. Detached homes here hold value exceptionally well and are in high demand.
Older, larger lots on mature streets. Close to GO Transit and amenities. Ideal for buyers who value location and land size over brand-new finishes.
Calculating the Equity Gap in 2026
The most important number for a move-up buyer is the "Gap" — the additional cash or mortgage required to move from a condo to a detached home.
| Scenario | Current Condo Value | Target Detached Price | The "Gap" |
|---|---|---|---|
| Entry Move-Up | $600,000 (2-Bed Condo) | $1,300,000 (3-Bed Semi/Detached) | $700,000+ (New Mortgage + Equity) |
| Standard Move-Up | $750,000 (Luxury Condo) | $1,600,000 (4-Bed Detached) | $850,000+ (New Mortgage + Equity) |
| Premium Move-Up | $900,000 (Penthouse) | $2,200,000+ (Executive Home) | $1,300,000+ (Significant Equity Required) |
Step-by-Step: How to Execute a Move-Up in Markham
Michael John Lau and Neeraj Moolchandani guide move-up buyers through the complex logistics of selling and buying simultaneously. Here is the recommended process for 2026.
Before looking at detached homes, you must know exactly what your condo is worth in today's market. Michael and Neeraj provide a Comparative Market Analysis (CMA) based on recent sales, not just listing prices, to give you a realistic net proceeds number.
- Sell First — Safest option, but requires temporary housing if timing doesn't align.
- Buy First — Requires bridge financing to cover the down payment on the new home before the condo sells.
- Simultaneous Closing — Ideal but difficult to coordinate. Michael and Neeraj negotiate closing dates to align as closely as possible.
Hidden Costs of Moving Up in Ontario — 2026
Move-up buyers often underestimate the transaction costs involved in selling and buying simultaneously. Here is what to budget for.
Unlike first-time buyers, move-up buyers must pay the full Ontario Land Transfer Tax on the purchase of the new home. On a $1.5M home, this is approximately $26,000+. (Note: Markham does not have a municipal LTT, unlike Toronto).
When selling your condo, you will pay commission to the listing and buyer's agents. This comes out of your equity and reduces the funds available for the down payment on the new home.
Budget for professional movers, utility hookups, and immediate furnishings or repairs for the new detached home. Moving from a condo to a house often requires new appliances (washer/dryer) and landscaping tools.
What Move-Up Buyers Ask Michael & Neeraj
In 2026, with condo inventory high, selling first is often safer to ensure you have the funds and don't get stuck carrying two mortgages. However, if you have strong equity and income, bridge financing allows you to buy first and secure the perfect home without pressure.
Yes, if you plan to stay long-term. While condo prices are down, detached homes in prime Markham locations have shown resilience. Locking in a detached home now secures your family's housing for the next decade, regardless of short-term market fluctuations.
Lenders will look at your gross income, debts, and the stress test rate. Having a significant down payment from your condo equity helps. Michael and Neeraj work with top mortgage brokers who specialize in move-up buyer scenarios to maximize your borrowing power.
This is a risk in a high-inventory market. We mitigate this by pricing aggressively from day one and marketing extensively. If it does linger, we can adjust the strategy or discuss bridge financing options to keep your purchase on track.
Michael John Lau and Neeraj Moolchandani are Markham's top REALTORS®. They help move-up buyers sell their condos for top dollar and find the perfect detached home for their family's future.
🏆 Michael John Lau & Neeraj Moolchandani — Awards & Recognition
Michael John Lau and Neeraj Moolchandani are licensed REALTORS® serving buyers and sellers in Markham, Ontario and the Greater Toronto Area. Pricing information is based on recent market data and is subject to change. Always consult directly with a licensed real estate professional and a qualified mortgage broker for the most current pricing, program eligibility, and availability. Not intended to solicit clients currently under contract with another brokerage.
