What can you buy in Markham for $1 million, $1.5 million or $2 million?At about $1 million in Markham, most buyers are looking at freehold townhouses, semis or older detached homes in areas such as Cornell, Greensborough, Wismer, Raymerville and Cedarwood. Around $1.5 million opens up many detached family homes, close to TRREB’s September 2026 Markham detached average of $1,534,139, in communities such as Berczy, Middlefield and Angus Glen. Near $2 million, buyers reach larger detached homes and estate-style pockets such as Cachet, Victoria Manor-Jennings Gate and Devil’s Elbow. Community averages change with each quarter’s mix of sales, so compare recent sales of similar homes before setting a budget.
A Markham budget stretches very differently depending on the neighbourhood, the home type and the age of the house. A million dollars can mean a new townhome in one community and an older detached home in another.
Michael John Lau, a REALTOR® with the Kaizen Real Estate Team, one of the most active real estate teams in Markham and York Region, helps buyers match their budget to the right neighbourhoods and home types before they start booking showings.
City-wide averages by home type
| Markham, September 2026 (TRREB) | Average price |
|---|---|
| Condo apartment | $574,612 |
| Condo townhouse | $829,470 |
| Freehold att/row/townhouse | $977,959 |
| Semi-detached | $1,019,322 |
| Detached | $1,534,139 |
TRREB September 2026 Market Watch.
Around $1 million
At this budget, most buyers choose between a freehold townhouse, a semi, a larger condo townhouse, or an older detached home in an established area. In TRREB’s Q1 2026 community figures for all home types, several communities had averages close to $1 million:
| Community | Q1 2026 average (all types) | Q1 2026 median |
|---|---|---|
| Cornell | $971,202 | $977,000 |
| Greensborough | $988,068 | $980,100 |
| Wismer | $1,008,437 | $1,048,000 |
| Raymerville | $957,273 | $1,065,500 |
| Cedarwood | $933,081 | $1,000,000 |
Expect newer townhomes in Cornell, Greensborough and Wismer, and older detached or semi-detached homes in Raymerville and Cedarwood that may need updating.
Around $1.5 million
This is where many buyers move into detached family homes. Markham’s detached average was $1,534,139 in September 2026. Communities with Q1 2026 averages in this range include:
| Community | Q1 2026 average (all types) | Q1 2026 median |
|---|---|---|
| Berczy | $1,274,993 | $1,232,000 |
| Middlefield | $1,247,665 | $1,230,500 |
| Markham Village | $1,229,034 | $1,209,000 |
| Victoria Square | $1,369,633 | $1,130,500 |
| Angus Glen | $1,477,770 | $1,349,000 |
At $1.5 million, buyers in Berczy, Middlefield and Markham Village can often find a detached home with a garage and yard, while in Angus Glen the same budget may buy a townhome or a smaller detached home.
Want to see what your budget buys?
Michael John Lau can show you recent sales at your price point across several Markham neighbourhoods.
Book a buyer consultationSearch Markham homesPrefer to talk? Call the Kaizen Real Estate Team at (647) 370-8885.
Around $2 million
Near $2 million, buyers reach larger detached homes, newer executive builds and some estate-style pockets:
| Community | Q1 2026 average (all types) | Q1 2026 sales |
|---|---|---|
| Cachet | $1,755,214 | 14 |
| Victoria Manor-Jennings Gate | $1,735,200 | 8 |
| Devil’s Elbow | $1,939,250 | 4 |
| Thornlea | $1,576,250 | 4 |
With so few sales in some of these communities, a single large home can move the average a lot. For estate pockets, see Devil’s Elbow and Cachet Estates.
Below $1 million
Buyers with a budget under $1 million often look at condo apartments and condo townhouses. In September 2026, Markham condo apartments averaged $574,612 and condo townhouses $829,470. Commerce Valley, a condo-heavy community near Highway 7 and Leslie Street, had a Q1 2026 average of $685,911. For more, see the Markham townhouse buyer’s guide.
New, older or renovated?
At every budget, the age of the home changes what you get. A newer home in Cornell or Wismer usually means less space and a smaller lot for the money, but fewer near-term repairs. An older home in Raymerville, Markham Village or Middlefield often comes with a larger lot and mature trees, but may need a new roof, windows or kitchen. A renovated older home can offer both, at a higher price. Before deciding, compare the purchase price plus the likely repairs over the next five years, not the price alone.
Why averages can mislead
A community’s average blends every home that sold. Unionville is a good example: in Q1 2026, it had 110 sales at an average of $960,767 but a median of $736,500, because the TRREB community includes many condos in Downtown Markham alongside large detached homes on established streets. Always compare homes of the same type and size, on similar streets. Small numbers of sales can swing community figures a lot.
Costs to add to your budget
- Land transfer tax: about $16,475 on $1 million, $26,475 on $1.5 million and $36,475 on $2 million in Ontario. Markham has no municipal land transfer tax.
- Property tax: Markham’s 2026 rate is 0.722889% of assessed value.
- The mortgage: with 20% down at a 4.00% rate over 25 years, payments are roughly $4,208 a month at $1 million, $6,312 at $1.5 million and about $8,420 at $2 million, using Canadian semi-annual compounding. Your rate will differ.
- Legal fees, inspections and moving.
- A repair reserve, especially for older homes.
Ultimately, the decision is yours. The goal is to make sure you have all the information before you set your budget.
The right budget is the one that buys the right home in the right neighbourhood, with room to enjoy it. Call the Kaizen Real Estate Team at (647) 370-8885 or book a consultation.
Frequently asked questions
What can you buy in Markham for $1 million?
Usually a freehold townhouse, a semi, a larger condo townhouse, or an older detached home in established areas such as Raymerville or Cedarwood.
What is the average detached home price in Markham?
TRREB reported a Markham detached average of $1,534,139 in September 2026.
Which Markham communities have homes around $1.5 million?
In TRREB’s Q1 2026 figures, communities such as Berczy, Middlefield, Markham Village, Victoria Square and Angus Glen had averages from about $1.2 million to $1.5 million across all home types.
What does $2 million buy in Markham?
Larger detached homes and some estate-style homes in communities such as Cachet, Victoria Manor-Jennings Gate and Devil’s Elbow.
Why is Unionville’s average lower than expected?
TRREB’s Unionville community includes many condos in Downtown Markham as well as large detached homes, so its average and median are pulled down by condo sales.
How much is land transfer tax on a $1.5 million home in Markham?
About $26,475 in Ontario land transfer tax. Markham has no municipal land transfer tax.
Michael John Lau and Neeraj Moolchandani are licensed REALTORS® with the Kaizen Real Estate Team, eXp Realty, Brokerage, 9763 Markham Rd, Markham, ON L6E 1A4. Licence #4784577. Call (647) 370-8885. Prices by home type are from TRREB’s September 2026 Market Watch. Community averages and medians are from TRREB’s Q1 2026 Markham community report, across all home types. Land transfer tax is calculated at Ontario rates. This article is general information only and is not financial, legal or tax advice. Not intended to solicit buyers or sellers currently under contract with another brokerage.
