Markham condo apartment market

Markham's condominium market runs along Highway 7 and around Enterprise Boulevard in Downtown Markham, next to Unionville GO and the historic Unionville Main Street. Kennedy, McCowan, Warden and Woodbine Avenues cross it, with 16th Avenue and Major Mackenzie to the north. The Markham Civic Centre, Flato Markham Theatre, CF Markville and York University's Markham campus are the local anchors, with Cornell to the east.

Resale, pre-construction and assignments, weighted to buyers who intend to occupy. Assignments here turn on the HST rebate more than on anything else. Larger plans mean resale and assignment prices need to be compared on total cheque, not per square foot.

Why HST decides most Markham assignments

The new-housing rebate follows occupancy. An assignment buyer who intends to move in is generally in a position to claim it; an original purchaser who bought as an investment may never have been. The assignment agreement has to establish who is claiming what and the builder’s paperwork has to match. Handled at the start it is a paragraph; handled at final closing it is a five-figure adjustment.

Deposit obligations are the second item. On a larger Markham purchase with a 20 per cent schedule, a meaningful sum may still be outstanding when the contract changes hands. An assignment buyer takes on those dates and the lender needs to see them.

Resale is the larger opportunity right now

For a family buying a larger unit to live in, standing resale inventory is where the choice is — and we will say so even when a new release is available.

What's active here

Downtown Markham around Enterprise Boulevard — Phased, ongoing construction. The master-planned district beside Unionville GO has been delivered in phases over many years, so earlier registered buildings provide real comparables for a later-phase assignment or resale unit.

Markham Centre and the Unionville node — Approvals and construction. Long horizons and changing approvals mean the site plan beside yours may not be what was shown when you bought. Check what is approved rather than what is rendered.

Cornell and northern low-rise — Phased releases and freehold resale. Ground-related communities east and north of the centre, end-user weighted, with builder consent terms often stricter on assignments than the condominium developers'.