Leo Tolstoy once wrote, “All happy families are alike; each unhappy family is unhappy in its own way.”

One of the easiest ways to create an unhappy family? Ask for advice from your parents just before you make an offer on a home.

Buying a property is a big decision, financially and emotionally. It’s only natural to want advice from someone you trust with past experience. Often, that means parents - especially if they’re helping with the down payment.

Parents are protective by nature. That doesn’t stop when their children become adults. They have the life experience and want to make sure you’re making the right decision.

The problem isn’t asking for advice. The problem is asking for it at the very end, when they haven’t been through the experience you have as you go through the process of buying a home in today’s market.

The problem arises if parents only see the final property - the one you’re ready to make an offer on. If they haven’t experienced the weeks of showings and ridden the ups and downs of properties that didn’t work, or didn’t see the properties that were overpriced, poorly laid out, or unrealistic and they haven’t experienced the trade-offs that led you to this decision, they won’t quite understand the work you’ve put into finding “the one”.

Without that information, it’s easy for questions to surface:

Have you seen enough places?

Is this really the right one?

Should you keep looking?

Those questions are reasonable - but they’re much harder to answer at the eleventh hour.

If you’re going to involve your parents, involve them early. They don’t need to know every detail of your pre-approval or monthly budget, but they should understand what’s happening in the market. Bring them to showings when possible. Loop them in on listings. Keep communication open throughout the process.

When they’ve been part of the journey, they’re far less likely to derail it at the end. They may very well have good reason to “derail it” based on how they know you and your needs but without seeing all you’ve seen, they won’t understand how you’ve come to the moment to make the big decision.

I learned early on in my career to identify who the real decision-maker is. If a parent is going to influence the purchase, there is absolutely nothing wrong with that BUT they need to be part of the conversation from the beginning so they understand the market and stay as informed as you are as listings come in.

Buying a home is stressful enough. Keeping everyone informed early makes everything smoother later.

Alrighty! We’re deep enough into winter that we might as well lean into it - there's no point in grumbling about shovelling and iced-over sidewalks at this stage... And if you’re going to brave the cold, you might as well do it with laughter!

First up: The Toronto Sketch Comedy Festival is taking over the city next month, bringing us live comedy shows, big laughs, and late-night energy. And if you’re spending a little more time indoors these days, this fun look at kitschy décor ideas is a nice reminder that your home can have personality, not just neutral walls.

Sometimes the best market news is when nothing dramatic happens. The Bank of Canada held the key interest rate at 2.25% as expected, and January looked like a typical start of year market with quieter sales, softer prices, and no real surprises.

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Sales numbers released by TRREB for December revealed no surprises - it was a typical December market. With the exception of detached homes (sales were up by 10% compared to last December), both average prices and number of sales were down, year-over-year.

On average, it’s taking 65 days for a listed property to sell. As a comparison, in December 2021, it took an average of 19 days for a property to sell. Buyers know there is no sense of urgency to make a decision.

Another number to look at is the percentage of list price that’s being paid. In December, it was 97%. This tells us two things: Properties, in general, are being priced close to market value, and there is some room to negotiate. In a hot market, that number goes over 100%, when many properties are purposely underpriced and receive multiple offers.

What will 2026 bring?

There are many factors affecting the market. The uncertainty of what’s happening south of the border, not to mention internationally, has an impact on how confident people feel about making a big purchase.

Right now, the key rate is 2.25%, and based on information from the big banks, rates.ca is predicting that the Bank of Canada is going to keep the key rate steady for the next six months. If this happens, confidence in the market will improve and we’ll see more buyers coming out of the woodwork.

My prediction for the next six months is that we won’t see any dramatic changes. Condo sales will remain sluggish, especially smaller one-bedroom units. Prices will only drop where owners can’t afford to wait. As for the single famil home market, I feel we will continue to see some stability there.

Increasing inflation also has an impact on buyers. Even if people have the down payment, a higher cost of living impacts their monthly budget, so even with lower interest rates and softening prices, the carrying cost may feel like a stretch when you factor in everything else.

Bottom line:

We won’t see a huge difference in the first half of 2026 because the market doesn’t generally turn around that quickly. Inventory levels will remain high. Many properties that didn’t sell in late 2025 will be re-listed, and there will be other sellers who want to take advantage of the spring market. Buyers should be prepared to hold on to a property for the long-term before they see any significant profit. But ultimately, home ownership is about how you want to live and what kind of space makes sense for you.

If you’re trying to make sense of the current market - whether as a buyer or a seller - I’m happy to talk through your options and give you a realistic view of what makes sense right now.

December always feels like Toronto is in “full-festive mode” - shorter days, twinkling lights, and calendars filling up. Between client get-togethers, office celebrations, and family dinners, it is a month built around connection.

Holiday at The Well is a great excuse to get out, enjoy the city, and soak up a bit of holiday atmosphere. You will also find a few ideas for standout Canadian wines to bring to dinner parties or gift to your favourite host.

As expected, the Bank of Canada held the prime rate steady, signalling a continued wait-and-see approach as we head into the new year. This is unlikely to affect December’s sales, but it may help shape buyer confidence heading into the spring market.

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It’s hard these days to talk about the market without sounding a bit negative; that’s especially true right now. Not only are we experiencing a multi-year slowdown in the market, it’s compounded by the traditional December downturn. I feel as though the winter slowdown started even earlier this year – I noticed fewer and fewer listings hitting the market, beginning in November.

Last month, I predicted that the housing market is going to be quiet throughout 2026 and, regardless of what happens with interest rates, I think that still holds true. The Bank of Canada is releasing the last rate announcement of the year on December 10, but whether it holds the prime rate steady as predicted, or surprises us with a .25% rate cut, it’s not going to move the needle.

As for interest rates in 2026, each of the big banks is predicting different things, but recent history has shown that it won’t be interest rate reductions that start to get the market moving again.

So what will it take? I think it’s going to happen when the global economy feels more stable. When the threat of tariffs has settled, the potential renegotiation of the United States–Mexico–Canada Agreement (USMCA) happens and we’re not at the whim of the leader of the US, people will feel more confident. It’s hard to commit to a long-term investment when the cost of living continues to rise and there is less job security.

With prices continuing to soften, people are hesitant to make a long-term investment if they think the market will continue to go down. It’s less about the numbers than about the outlook. People are confused, don’t feel confident, and life is expensive.

Of course, there are always outliers in the market, though. There’s been a lot of chatter about the sale of a home on Shaw Street in November, which sold for over $400,000 over asking!! We can surmise two things from this sale. One is that the home was way underpriced to generate interest. Two, because there were 28 offers for the house, consumers do have money to spend.

The bottom line is, in any market, people are going to need to buy and sell. While it’s true that sales numbers are far lower than average, over 1,900 properties changed hands in November. We’ve become conditioned to think of homes in Toronto as an investment rather than a place to live. I think that properties are still strong investments, but we’re not going to see the rapid growth we saw a few years ago. Even if prices continue to drop, it’s impossible to time the bottom of the market and it should be more about how you want to live than whether you can make a quick buck.

For people who are looking for something super specific, like a particular unit in a particular building, if it comes up, you should jump on it. But if you’re not that specific, wait. In the spring there will be even more listings, so your selection will be greater then as will your negotiating power.  

If you have any questions about the Toronto real estate market or are curious about what is happening in your neighbourhood, please get in touch!

This is a difficult blog to post. It’s going to sound a bit negative and might not make a lot of people happy but it’s the reality of today’s condo market sentiment....

For many years, a one-bedroom condo was a great way of taking your first step on the property ladder. Although you were, maybe, only buying a compact 600 square foot (or smaller!) condo, it was a start. From the early naughts on to about 2022, history told you properties values were only going to increase. You could even buy a condo pre-construction and it would be worth more by the time it was finished. This was a tried and true, good strategy – until everything changed.

Post pandemic, the prime rate increased, mortgage rates followed suit and all of a sudden, the carrying costs of owning a smaller property out weighed the benefit; even more so as the prices started to soften.

Traditionally, not many consumers buy a one-bedroom condo and stay there for life. It sometimes home for a while and sometimes bought as an investment to live in first and then rent it out. Oftentimes, they partner up, start a family, and inevitably, want more space. Regardless of their situation, the plan is to sell the unit and use the profit to help buy something bigger.

Since 2022, prices have been softening and rents are too. Some feel it’s hard to justify the purchase of a small condo that you’re only going to be in for a few years and run the risk that prices will continue to soften. In addition, with mortgage rates higher than they were, the monthly cost of carrying that condo is higher so many feel they would prefer to rent, at a lower cost than what it would cost to carry a purchase, until they feel more stability in the market.

This new reality also applies to the investor market. Ideally, any investor’s goal is to at least breaking even month to month. If you were losing a little, you knew the value was going up. For some it’s becoming harder to stomach holding onto an investment property that is losing money month after month, regardless, rightly or wrongly,  of the tax write-off benefits. Because of this, some/many investors have been trying to sell their suites and this has resulted in a substantial increase of 1 bedroom condos on the market (over 1200 right now, not including studios). With an increase of listings for sale, many investors who find it difficult to sell with the increased competition, have turned to renting again. This now has increased rental listings which in turn has started to soften the rental market.

What will the future bring?

I suspect that prices aren’t going to return to the peak of 2022 for at least five and, quite honestly, maybe closer to ten years. With any large investment, the mindset of a buyer should always be to hold on for 5-10 years, even in good times.

Is now a good time to buy or should I continue to rent?

Obviously, there are considerations other than financial when it comes to buying a condo. For one thing, stability. When you own your own condo, there won’t be any surprise rent increases (maintenance fees will go up every year, and if you have a variable mortgage, that will fluctuate). There’s also no chance you’ll be evicted because the owner wants to live there. There’s also the idea of being able to make the place your own… that brings comfort to many.

The opportunities are there for buyers with cash and/or sizeable down payments. If you’re looking to live in a space for a number of years, this could be an excellent time to jump into the market. There are definitely deals to be had. If you can get it at a good price now, even if the market continues to soften, the market will have to climb less for you to be assured you’ll get your equity out if ever it comes time for you to sell.

Why would I sell in today’s market?

Some people have to sell. Some don’t have to but really want to and they’re having to make some tough decisions. There are those that need more space and can’t buy another property without selling. There are those who put down the minimum amount on a purchase at the peak of the market and are now renewing their mortgages and are feeling the pinch. Some are looking at the reality of selling for less than they paid, and sometimes they may not even be able to sell it even for what they’ve mortgaged it for.

But if selling at a loss means getting on with a new life experience, then you do what you have to do.

The challenge is preparing today’s sellers for this reality. The type of conversations I’m having with sellers right now is setting expectations. Chances are they will be insulted, disappointed, surprised, and offended at how low someone’s coming in with an offer. Right now, an offer is an offer, and you work with what you get.

If there are a couple of similar units in your building for sale, you want to be the first one to sell, because current buyer sentiment is to get a property at a lower price than the last sale. As a seller, you want to set the precedent in a down market so you don’t sell for less than the last sale.

Moving into 2026, I think there will still be more play with prices and availability. I don’t think anybody will miss out by waiting, but I don’t think you’ll regret by buying now either as long as you understand the risks in whatever market you’re buying into. The market will come back but it depends on your timelines and your expectations.

If you want to have a conversation about your situation or are curious about how much your home is worth, please get in touch!