217 spent six months on the market last year across three separate listings, from $648,888 down to $580,000, without a sale. Three sales in the past week, two of them units we were actively watching, moved the number again, meaningfully lower. This analysis rebuilds from the ground up: verified sales in your building and the tower next door, adjusted for floor level, parking, locker, and timing, plus a look at exactly what's competing for the same buyer today.
Revised · August 29, 2026
Comparative Market Analysis
18 Uptown Dr, Suite 217
Markham, Unionville · Prepared by Jeffrey Cheng, Foundry Realty
"Your Toronto home selling journey, from start to finish."
FoundryRealty.ca
Comparative Market Analysis · Revised
Contents
What we'll cover
What changed this week, then the full picture behind the number.
- 01 What's changed since our last conversation
- 02 Overview
- 03 Who we are
- 04 The subject property
- 05 Comparable sales
- 06 Market value range
- 07 What's competing for the same buyer
- 08 Where the market's been
- 09 Sell now, wait a year, or hold three?
FoundryRealty.ca
Comparative Market Analysis · Revised
Since Our Last Conversation
Three sales this week changed the picture
All three closed in the seven days since your last presentation. Two are units we were already watching.
$560,000–$570,000
→
$495,000–$510,000
Recommended range, then vs. now
| Unit | At our last presentation | This week | Sold |
|---|---|---|---|
| 223 | Active, asking $495,000 | Sold Aug 22Sold | $468,888 |
| 1103 | Active, asking $458,800 (4 cuts) | Relisted $399,000, bidding war, sold Aug 27Sold | $423,000 |
| 921 | Not yet on marketNew | Listed Jul 30, sold Aug 27, 28 days | $455,000 |
Adjusted $/sqft, all 7 comparables, in order sold
The three most recent sales, dashed in rust, are the sharpest drop in this dataset. This isn't isolated to this complex. Markham condo prices broadly fell through the summer as well, see page 8, so this building is tracking the wider market, not diverging from it. That makes the trend harder to argue with, not easier.
FoundryRealty.ca
Comparative Market Analysis · Revised
Overview
Where things stand
Previously listed
$580,000
Expired unsold, Aug 2025
Recommended range
$495K–$510K
Revised this week, was $560K–$570K
Comparable sales
7
3 new this week, 4 from before
Active competing listings
10
Up from 6, new building added
FoundryRealty.ca
Comparative Market Analysis · Revised
Who we are
Foundry Realty
Three things guide every file we work: staying personal through a process that can feel anything but, being a source you can trust when the numbers get complicated, and letting data, not guesswork, guide the decisions that matter most.
This analysis is built the same way every recommendation is: from verified sales data, not assumptions.
Personal
Trustworthy
Data-driven
Jeffrey Cheng
Salesperson, Foundry Realty
Phone416-233-2071
EmailHello@FoundryRealty.ca
Office1701 Avenue Rd., Toronto
WebFoundryRealty.ca
FoundryRealty.ca
Comparative Market Analysis · Revised
04 · The Subject
18 Uptown Dr, Suite 217
Corner unit, Riverwalk Condos, Markham
Bedrooms1
Bathrooms1
Square feet725 (builder plan)
Floor level2
ExposureSoutheast
Outdoor space2 balconies, 110 sqft
Parking1, owned
Locker1, owned
Maintenance$580.10/mo
Property tax$2,560.90 (2024)
Feb 2025
Listed $648,888
Mar 2025
$618,888
Apr 2025
$599,800
May 2025
$580,000
Aug 2025
Expired, unsold
Aug 2026
3 nearby sales confirm further softening
Six months on market, three relistings, no sale, in a market that has since moved lower still. Strong evidence the ceiling sits well below $580,000.
FoundryRealty.ca
Comparative Market Analysis · Revised
05 · Sold Comparables
Comparable sales
Adjusted for floor level, parking, locker, and time since sale. Three new this week, highlighted below.
| Unit | Sold | Price | Sqft | Floor adj | Pkg / lkr | Date adj | Adj $/sqft |
|---|---|---|---|---|---|---|---|
| 18 Uptown 321 | Oct 20/25 | $565,000 | 671 | −$3,000 | −$35,000 | −3.5% | $758.06 |
| 1 Uptown 509 | Feb 9/26 | $475,000 | 606 | −$4,000 | −$35,000 | +5.3% | $757.39 |
| 1 Uptown 603 | Apr 10/26 | $548,000 | 730 | −$5,000 | −$35,000 | +1.2% | $704.03 |
| 18 Uptown 1707 | Jun 23/26 | $542,800 | 674 | −$14,000 | −$35,000 | None | $732.64 |
| 18 Uptown 223New | Aug 22/26 | $468,888 | 645* | −$2,000 | −$35,000 | None | $669.59 |
| 18 Uptown 921New | Aug 27/26 | $455,000 | 650.5 | −$9,000 | −$30,000 | None | $639.51 |
| 18 Uptown 1103New | Aug 27/26 | $423,000 | 613 | −$11,000 | −$35,000 | None | $615.01 |
1707, 321, 223, 921, and 1103 are in your building. 603 and 509 are in the tower next door at 1 Uptown Dr. *223's square footage is seller-reported, not builder or MPAC verified, the weakest source in this set. 921's adjustment excludes a locker; its inclusion wasn't confirmed on the listing sheet. 1103 was relisted at an intentionally low $399,000 to force a bidding war, its $423,000 result reflects that dynamic as much as underlying value. Even accounting for all three caveats, the trend across all seven sales is unambiguous: see the next page.
FoundryRealty.ca
Comparative Market Analysis · Revised
06 · The Number
Market value range
Revised from $560,000–$570,000 following this week's sales
$495,000–$510,000
Recommended list price
2025 list · expired
$460K
$600K
This week's three sales imply a full range of $482,881–$522,456. 921 is the cleanest data point (builder-sourced sqft, a normal list-cut-sell pattern) and alone points to roughly $500,600. 223's weak sqft source and 1103's bidding-war dynamic pull in opposite directions, so we've weighted toward the middle rather than either extreme. $495,000–$510,000 also sits below every one of this week's sold prices in absolute terms, appropriate given 217 has already failed to sell three times at higher numbers.
FoundryRealty.ca
Comparative Market Analysis · Revised
07 · Active Listings
What's competing for the same buyer
Ten active listings now, up from six, including three in a building we hadn't been tracking: 28 Uptown Dr.
28 PH03
$552/sqft
217 (ours)
$693/sqft
28 Rg12
$769/sqft
28-515
$818/sqft
703
$855/sqft
1Up-910
$855/sqft
120
$859/sqft
705
$875/sqft
808
$877/sqft
1Up-2010
$886/sqft
229
$1,009/sqft
28 PH03 now undercuts us. Cut from $399,900 to $299,900 with offers held September 8th, the same lowball-to-bidding-war tactic 1103 used. Its ask is below our revised range on a $/sqft basis. Whatever it sells for will set the new floor for this immediate market.
705 and 808 both cut price this week. 705 dropped $50,000 to $525,000. 808 dropped $49,001 to $499,999. Neither had moved in over a month at the old price. That's the same pattern as 223 and 1103, just a step behind them.
FoundryRealty.ca
Comparative Market Analysis · Revised
08 · Market Trend
Where the market's been
Markham condo apartment median price, last 10 months, updated with July figures
$609.8K
Oct '25
$551.5K
Jan '26prior low
$572.4K
Mar '26
$579.9K
May '26
~$533K
Latestnew low
Chart scale starts at $500K to show the shape of the trend clearly. Figures approximate, read from a smaller chart export.
This corrects our last read of this chart. Prices did dip into January and partly recover through spring, but that recovery didn't hold. The most recent figures available show a sharp drop through the summer, to a new low below where the market bottomed in January. 18 Uptown is tracking this citywide trend, not diverging from it, see page 3.
FoundryRealty.ca
Comparative Market Analysis · Revised
09 · Scenario Comparison
Sell now, wait a year, or hold three?
Every path below ends with a sale. Adjust the assumptions live to see how the 3-year outcome shifts.
Calculating…
Market
0.0%
−10%+10%
6.0%
0%12%
Mortgage
3.55%
2%8%
Rapid biweekly, 26 payments/yr, monthly-equivalent –/mo. Term ends Aug 1, 2027.
Variable-rate penalties are typically a flat 3 months' interest, unaffected by time left on the term. Set each independently.
Taxes
35%
20%53%
50% inclusion rate under current law. The home sale itself is never taxed. Principal residence exemption applies in every scenario.
Starting numbers & sale costs
Fixed facts, not adjustable: bought summer 2022, 5-year variable term ending Aug 1, 2027. Maintenance ($580.10/mo) and property tax ($213.41/mo) are held constant across all scenarios.
Net worth at the 3-year mark
–
Sell nowrent + invest, 3 yrs
–
Wait 1 yearthen sell, rent + invest 2 yrs
–
Hold 3 yearsthen sell
Sell now
Rent at today's price, invest the proceeds for 3 years
Net worth, year 3
–
Wait 1 year
Sell once the mortgage term ends, then rent + invest for 2 years
Net worth, year 3
–
Hold 3 years
Keep the mortgage, sell at the end of year 3
Net worth, year 3
–
This is a planning tool, not financial or tax advice. It models one path through many uncertain variables: condo prices, market returns, mortgage rates, and tax rules can all move differently than assumed here. Confirm mortgage penalty, commission, and tax specifics with your lender, brokerage, and accountant before making a decision.
FoundryRealty.ca
Comparative Market Analysis · Revised
Let's find the right path forward.
Jeffrey Cheng
Foundry Realty
416-233-2071 · Hello@FoundryRealty.ca
1701 Avenue Rd., Toronto · FoundryRealty.ca
FoundryRealty.ca
Comparative Market Analysis · Revised