In all probability the 14th Century saw Markinch continue to decline. The centre of power had already shifted north to Cupar and the principal focus of the Earls of Fife had long moved away from the Leven Valley. The Valoniis family moved to a new stronghold on the Island of Inchgall on Loch Ore. Dunfermline and St. Andrew's flourished. Unlike Cupar, Markinch had no direct access to the sea by river and no royal burgh charter. The parish had secured a strip of land on the coast where fishing revenues doubtless supplemented the priest's income but, economically, a town that was hemmed in by marshes and not sited on a navigable waterway was not going to prosper.
The Lindsays purchased Wester Markinch, and John Multray, the Lord of Markinch began to carve out a barony around the town in the power vacuum left by the departing Valoniis family. His was a Markinch dynasty that would last for ten generations
Around 1360, however, a new seat of power sprang up further down Levendale with the building of the massive tower of Balgonie Castle (above) by Sir Thomas Sibbald, treasurer to David II. This high office was later held by their successors, the Lundie family.