Estimate your Toronto or Markham home’s value from recent comparable sales, then adjust for the features buyers would pay for and the competition they can see today.

Information checked November 11, 2026.

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Build a short list of closed sales

Start with the same property type and micro-market. For a condo, look in the same building and compare floor, exposure, parking, layout and fees. For a Markham detached home, check lot, garage, renovation quality and any significant difference in traffic or school catchment.

Recent closed sales are evidence of what buyers paid. Active listings show what a buyer can choose instead. Withdrawn or repeatedly listed homes can help explain why certain asking prices attracted little interest.

Use a range you can explain

In an illustrative case, three similar Markham townhomes sold for $910,000, $932,000 and $950,000. The highest had a renovated kitchen and a better-positioned lot. If your home resembles the middle sale, it is reasonable to start there and test a range rather than average the three blindly.

A new roof may reduce buyer uncertainty, but its cost does not translate dollar for dollar into sale price. Check whether any comparable sale included unusual terms or a distinctly different closing.

Refresh the range before you list

Give your agent the floor plan, renovation permits or invoices, the tax bill and any condo documents. Ask for the strongest low and high comparable and an explanation of what would move the estimate. Recheck fresh sales and competing listings a few days before launch.

Read a comparable-sales range as a seller

Suppose you own a Markham detached home with a finished basement, an older kitchen and two parking spaces. A nearby house sold for $1.48 million after a full renovation, a second sold for $1.40 million with a similar interior, and a third sold for $1.34 million on a busier road. These are invented examples. Start with the closest match and ask which differences a buyer would actually notice and pay for. A $1.48 million sale is useful only if you understand why a buyer preferred it.

Look at today’s listings next. If an equivalent home is actively offered at a price buyers can afford, it sets a real alternative even if it has not sold. A dated comparable-sale range, with a note about active competition and what would change the conclusion, is more useful than a single figure. It also gives you a reason to revisit the price after a new sale or a change in condition.

What to check before deciding

Select homes a buyer would actually substitute

Match tenure, property type, location and usable size before comparing sale price. In a condo, start with the building or a genuinely similar one. Test this part of the plan under less favourable conditions. Check dates and recorded details for parking, locker, exposure and floor. For a house, check lot shape, garage and condition.

A larger area on paper may include unusable corridors, or a nearby house may face a different road or catchment. Choose a response you can carry out before you reach the deadline. Write one sentence about why each sale is useful and a second about its main limitation.

Adjust for changes that are visible and relevant

A newer furnace or dry basement can remove a buyer’s concern. A high-end feature has value only if buyers in this segment value it. Use photographs, permits, invoices and a condition summary to distinguish dated finishes from work that affects the building.

Do not add the cost of a renovation to a comparable price without considering usefulness, age and current buyer preferences. Ask how much the closest sale might change with the feature added or removed. Use a range and document the reasoning.

Check date and market direction

A sale completed months ago is evidence of a transaction, not necessarily the amount a buyer will pay in a different market. Get a comparable figure or document before changing the plan. Look at recent sales and active alternatives for the same segment. Keep region-wide changes separate from specific street and building evidence.

A strong headline month can reflect higher-value homes trading. It may not explain why a very similar unit in your building took longer to sell. Use the result to decide where you need more time. Use the market report guide for context and ask for an updated comparable list shortly before listing.

Separate likely sale price from listing strategy

The list price is a marketing decision, whereas a valuation range uses evidence of what a reasonable buyer may pay. The two numbers can differ. Compare the plan to direct competition, showing availability, planned offer handling and your desired closing. Ask what would trigger a review.

An optimistic list price can draw fewer qualified comparisons. An intentionally low asking price does not guarantee multiple offers or a particular result. Choose a starting approach and a review date. Use showings, feedback and new sales, rather than only time elapsed, to reassess.

Put the value range into your net sheet

A market value range is an input to a decision. It does not show what is left after selling costs and mortgage payout. Make the assumption explicit in your notes. For the low and middle values, calculate the expected sale proceeds with the same closing dates, costs and outstanding balance.

If the lower outcome changes your next home budget, it is worth setting a contingency before signing the purchase agreement. Compare the result against the amount or risk you can actually carry. Review Ontario seller costs and tell your agent which net figure and move date the sale must support.

Follow-up questions

Should I use a city average as my starting estimate?

A city average helps compare broad segments, but it is not an estimate for one address. In Markham or Toronto, narrow the sample to properties with similar type, size, location and condition. Compare two or three strong sales and label any uncertainty rather than forcing a precise answer.

When should the valuation be revised?

Refresh it when comparable homes sell, supply changes, the property’s condition or proposed closing changes, or the estimate was made well before the listing. Ask for the comparison that changed and why it matters to your home.

Bring a list of improvements, tax and fee records, and any known repair items to the valuation discussion. Ask what would make the estimate higher or lower, and keep the evidence with the date.

How much is my Toronto or Markham home worth?