40 New Construction Detached & Townhomes in Markham ( 2024 )

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Markham

Markham is a city in Regional Municipality of York, Ontario, Canada. It is situated in Southern Ontario and lies within the Greater Toronto Area. It is known for its cultural and architectural beauty. It covers an area of 212 Sq. Km. The City is governed by the city council consisting of a mayor, four regional councillors, and eight ward councillors. 

As per the population, Markham is the largest city in the York region and 4th largest in the Greater Toronto Area.

Life in Markham Neighbourhoods

Markham is a vibrant city with a unique and diverse community. It is a city of rich culture, history and heritage which attracts many. The city portrays the perfect blend of old and new. It offers great community life with its outstanding community planning and services. It lies within close proximity to Toronto and is a sought after destination by affluent youths. 

Festivals in Markham

• Unionville Village Festival

• Markham Ribfest and Music Festival

• Markham Jazz Festival

• Harvest Moon Festival

• Taste of Asia

• Tamil Fest

Markham has the highest percentage of visible minority population among all the cities of canada.

Leading Neighbourhoods in Markham

Cornell

It is one of the youngest neighbourhoods located in northeast Markham. It has easy access to basic facilities, health services and recreational amenities. It is considered as one of the best communities in Markham.

Greensborough

It is situated in eatern most part of the city. It is a sought after destination to settle in a peaceful environment. It offers plenty of green spaces, parks and outdoor areas for an active life.

Markham Village

It is a vibrant area of the city and also the most historic part of the city. It is the hub of Markham and popular for its busy streets and bustling city life.

Aurora Groove

It is one of the luxurious neighbourhoods of Markham. It has a family friendly environment and plenty of green lands to live a perfectly balanced lifestyle.

Markville

It is especially popular for its CF Markville shopping centre. It reserves a position in top neighbourhoods of Markham with its exceptional facilities and amazing environment.

Raymerville 

It is a tranquil neighbourhood situated in the heart of markham. It is perfect to raise a family in a quality environment and easy access to conveniences.

House Market of Markham

The housing market of Markham is thriving. It is just 30 minutes away from the city of Toronto. It offers affordable housing options in unique and diverse neighbourhoods. The demand is continuing to rise which is accelerating the prices of housing. Single family detached homes are the most sought after when it comes to popular housing choice.

The average price of a house in Markham is $1.3M

Markham’s real estate market is the 8th most expensive real estate in GTA based on the average selling price of a home.

Mortgage and down payment details

In order to buy a property in Markham, secure funds from a lending institution is required which is typically called mortgage. Mortgage rates vary depending on various factors however there are plenty of mortgage brokers and local real estate agents who can assist you seal the best deal. 

As for minimum down payment,

The minimum down payment required is 5% however the standard down payment is 20%. The homebuyers depositing less than 20% of down payment will have to obtain mortgage loan insurance with the help of a mortgage broker.

Property taxes and other taxes details

The final property tax rate for a residential property comprises municipal property tax and provincial educational tax. The final residential property tax rate of Markham for 2021 is 0.632908%. The ultimate tax amount is calculated by multiplying Markham final property tax rate by the assessed value of the property as evaluated  by MPAC.

Land Transfer Tax (LTT)

Land Transfer Tax is imposed by the Markham government whenever you want to buy a property in Markham. It is a marginal tax rate so it is calculated separately for different portions of your property value. Only provincial land transfer tax is levied in Markham.

Living in Markham

Markham is a wonderful place to live but definitely not the most affordable. It is included in the top 5% of the most expensive cities in the world. However it is comparatively cheaper than Toronto. The cost of living is greater than the national average but absolutely worth the cost. Housing, Transportation and Utilities are the most expensive whereas Health services, Groceries and others goods are more on the average side. 

The average cost of living in Markham is $1874 for a single person.

Major Attractions

• Diverse Community

• Open Spaces

• Parks and Heritage Sights

• Strong Economy

• Rich Culture

• Safe Neighbourhoods

Weather of Markham

The annual average temperature of Markham is 8°C and average annual rainfall is about 33.9 inch.

Markham has a humid continental climate. It experiences warm humid summers whereas cold, dry and snowy winters. Wind chill and humidity plays a great role in the weather of Markham. The decent chances of rain or snow is consistent throughout most of the year.

Family Life and Education

Markham is a family friendly city to live a healthy active lifestyle enriched with quality schools, open spaces, playgrounds and parks. Its close proximity to Toronto is a plus point. It offers a wide selection of neighbourhoods ranging from affordable to luxurious. For the educational facility

 Popular academic institutions of Markham

• Stonebridge Public School ( k- 8)

• Coledale Public School (K - 8)

• Castlemore Public School (K - 8)

• Bur Oak Secondary School (9 -12)

• Markville Secondary School(9-12)

• Seneca College

• Evergreen College

  
  

Weekend Getaways

The vibrant city life of Markham can get a little overwhelming at times. A quick trip or a day out can be of great help to rejuvenate your senses. Markham does offer plenty of outdoor spaces, parks and trails for recreational fulfillment. Here are some of the obvious beauties of Markham to pay a visit during weekends and vacations:

       

Milne Dam Conservation Park

Milne Dam Conservation Park is Markham's largest park extended in 305 acres of land area. It features walking trails, picnic spots, biking trails and fishing in the Rouge river. Beautiful forest and tranquil river adds to its beauty. It is a great vacation destination.

Flato Markham Theatre 

Flato Markham Theatre is a premier performance art theatre in the city of Markham, Ontario. It hosts amazing plays, concerts, comedy shows, and many more art forms from well recognized artists. It offers something for everyone so it is a great place to visit with your family or friends for a day out.

Markham Museum

Markham Museum is a large historic museum located in Markham, Ontario.  It spreads on 25 acres of parkland featuring over 20 historic buildings and artefacts of Markham. It provides a step back to the past experience and also an opportunity to learn about the city’s history.

Reesor Farm Market

Reesor Farm Market is the largest farmer market in York, Ontario. It offers fresh farm products and delicious baked goodies. It also features the products from other nearby farms. It is a great place to enjoy a weekend in Markham countryside walking around the farm and picking fresh products with your family.

Bob Hunter Memorial Park

Bob Hunter Memorial Park is a greenspace preserve featuring wonderful trails in the city of Markham, Ontario. It is a tranquil park located alongside running streams of the Rogue river. It is a heavenly place for outdoorsy nature enthusiasts.

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