In July 2024, interest rates were still high and that was reflected in the number of sales. Now that rates are lower, it’s not a surprise that sales were up this July (not by much, but it’s an improvement!)

Why? People are seeing more stability in the market and are beginning to see the value again. There is a ton of inventory (over 11,700 properties are currently on the market), which means that power has swung back into buyers’ hands, and they’re able to negotiate. Yes, there are still multiple offers in the key neighbourhoods for the perfect house but for the most part prices have softened.

While the Bank of Canada may hold rates steady for the next little while - with a potential cut later this year - smart buyers are moving forward now.

If you're both buying and selling, it's better to sell first in this market. That way, you're in a stronger position to negotiate on a new home and, once your home is sold, you can focus on finding the right place without all the what-ifs. Buyers sometimes worry there won’t be anything out there, but once we start looking, they usually feel a lot more confident. With so much on the market, there will be something that ticks all the boxes.

If you’re a seller, with so much competition, this is not the time to “test” the market to see if maybe you can get a jaw-dropping sale price. You have to set a realistic price, otherwise you’re just wasting your time.

This is a different market than it was a year ago, and some sellers aren’t adjusting well to this new reality – they hope that what they read in the news about softening prices isn’t what’s going to happen with their property.

Even with a property that’s priced well, it’s the properties that are “totally done” where a buyer can move right into and live in their dream aesthetic, that are selling the fastest. Unless a home is in a specific neighbourhood, it’s rare that something in need of renos goes over asking, unless it’s priced really low… and even then it’s rare.

If you don’t have to sell, my advice is just relax and enjoy the rest of summer. Let’s see what the fall brings!

If you’re thinking of making a move this fall, let’s talk. Whether you’re buying, selling, or still figuring things out, it’s worth a conversation. The market may be shifting, but that doesn’t mean you can’t move forward with confidence.

Toronto’s real estate market is anything but traditional this year. There was a very slow start to the spring market, but it feels like things are starting to move again.

Prices might have dipped, so while some folks are still doom-scrolling real estate headlines, others are out there making moves - and finding deals. With more listings to choose from and a little less competition, now might just be the moment to strike (or at least sneak in an offer and see what happens).

With the amount of inventory available, I don’t think it’s any surprise that prices came down a bit. I think that we’ll continue to see a slight price drop when July stats are released– it’s certainly not unusual for activity levels to slow in the heat of the summer.

As well, I believe we’ll continue to see inventory levels grow with sellers who feel now is the right time to sell. It feels like there’s more positivity in the market, perhaps because people are willing to invest again or they’re feeling like there’s a good opportunity out there and it’s worth taking the plunge.

As has been the case over the past few months, there are a number of variables affecting the market. Most banks are predicting that we won’t see another interest rate deduction on July 30, though there are mixed opinions about where rates will be at the end of the year.

And then of course, there are “the tariffs”. The latest announcement is that a tariff of 35% will kick in on August 1, but nobody can predict if that will actually happen. I think people will be watching, but are going to be less incensed, concerned and/or bothered by them than they were in April.

There could be a slowdown, but I don’t think it will stall the market as it did this spring, unless something more dramatic happens, which would not be unprecedented.  Crystal ball, anyone?!?

What we really need for the market to pick up again is stability because that will help people feel confident that the turmoil is nearing it’s end.

On the bright side, homes are still selling (2319 properties sold in June) so there is still movement. The properties that sell the fastest are renovated homes in the more popular neighbourhoods, especially those that are priced right. The challenge is pricing it properly because as prices continue to go down, buyers are looking at recent sales, and they want their purchase to be for a little bit less.

Where are the opportunities right now?

Properties that need some work are a smart place to start. Homes that have been sitting on the market for a while can also present a real opening. They might be appear overpriced to the hopeful buyer, sure - but many sellers won’t budge until there’s an offer in front of them. Sometimes, you don’t truly spot the opportunity until you take that first step and put something on paper. You can’t win unless you play!

If you're thinking about entering the market, this could be your moment to act. Let’s talk about what’s out there and how to make it work for you.

Summer’s almost here, along with long days, warm nights, and all the sunshine we’ve been waiting for. Let’s soak it up and make the most of it!

Toronto is home to some amazing restaurants. If you’re curious about where to find the city’s best Vietnamese spots, you’ll find more information below. And if you're planning your next getaway, you'll find some great ideas for European vacations.

The Bank of Canada held the key interest rate steady at 2.75%. While it’s not the rate drop many were hoping for, it’s still 2% lower than where we were last June. Combine that with lower average home prices, and the carrying costs on a new property are far more manageable than they were two years ago. With so much inventory on the market, it’s a great time for first-time buyers or investors to take a serious look.

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The May numbers from the Toronto Real Estate Board reveal it’s absolutely a buyer’s market, and TRREB had a positive spin on their press release (GTA Homebuyers Benefited From More Listings in May).

The May real estate market brought no real surprises, just more of what we’ve been seeing for the past few months. It’s not unusual to see 50+ homes hitting the market on any given day, with only ten to fifteen sales being recorded. At the same time, the number of showings across the board is down considerably.

So what’s driving this? Buyer confidence, or lack of it, is playing a huge role. Even with interest rates holding steady, people aren’t necessarily rushing into the market. Some are betting that we’ll see a rate cut before 2026, but others aren’t so sure. The result? Buyers feel like they hold all the power and are perfectly comfortable waiting it out if they don’t see the right deal. If the deal’s not great, many are simply waiting for something better.

Despite all this, I expect we’ll see sales numbers creep up slightly this month, simply because it’s that season when people think more seriously about making a move. But don’t expect prices to rise. Inventory levels should stay high, and while prices may soften further, I’m not predicting a major drop.

What is selling, you may ask?

You have to be in the sweet spot of a totally renovated home in a key neighbourhood. I’m still seeing lots of showings in Riverdale and other very popular and high-demand neighbourhoods. Offer dates being set which oftentimes, result in multiple offers. But elsewhere, nobody’s showing up on offer night. And how about condos? Well, they aren’t showing much movement but there definitely are still some sales being recorded. Sadly, just not as many as most sellers would hope for.

Right now, there’s an opportunity for buyers to get into a home at a price that would have been unthinkable a year or two ago. Sure, the home you’re selling might not fetch what it would have back then either, but in a down market, moving up makes more sense. If everything’s down 10 percent, your loss on the sale is more than offset by the savings on the purchase of your next home.

So what does this all mean? There are deals to be had, but we’re also seeing consumers pull back, hesitant to make a move. They’re hanging on to their money, watching the headlines, and waiting for a sign that NOW IS THE TIME. The truth is, you can’t time the market. You’ll only know when a market has hit bottom after prices have started to rise. But if you buy smart and hold onto your property for a while, you’ll still come out ahead.

Thinking about making a move while the market is in your favour? Let's talk about your options and how to take advantage of today's conditions. Reach out anytime.

Some may find it a challenge to put a positive spin on Toronto’s real estate market right now, but as you’ll see, it’s not impossible.

According to the latest data from the Toronto Regional Real Estate Board, the number of new listings rose by 8%, while sales dropped by 23% compared to April 2024. Prices across the GTA finally saw a decline of around 4%. Given the recent election, I expected to see even more listings, but I suspect we’ll see inventory numbers trending upwards in May’s stats when they are published at the end of the month.

This is the longest downturn I’ve experienced in the real estate market since I started working in the late 1990s. Still, I believe it’s a bit of a blip, if you will, just what seems to be a long one. Buying real estate is never for the faint of heart but if you’re planning to hold onto a property for the long term, values will almost certainly rise.

Case in point: In April 2025, the average price for a detached home in Toronto was just over $1.7M. In April 2015, it was $1,056,114. Current prices are definitely down from the peak we saw in 2021-2022, but a $700k increase in value over 10 years is significant. Condos also saw similar growth, from an average of $407,612 in April 2015 to $710,000 in April 2025.

As always, it’s important to remember that Toronto is a city of micro-markets and that sales in some areas, such as Cabbagetown, Riverdale, Roncy or Bloor West, just to name a few, don’t usually reflect the trends we see in the rest of the city.

So, what needs to happen for Toronto’s market to bounce back?

Another rate decrease would be beneficial and could fuel a little more interest. But it won’t be until relations between Canada and the US, and their global partners, stabilize that people will feel more confident.

From the reports coming out of Washington after Carney met with Trump, it sounds a little positive, but we’re a long way off from a new trade agreement. Once that is in place, we’ll see more confidence in the market. People are checking their portfolios daily, unsure if they’ve lost or gained money. Stock markets wobble with every new headline.

So, where are the opportunities, you might be asking? There are many listings that are just sitting on the market, waiting for showings, or waiting for offers. Some owners want to sell, but others need to.

Right now, the deals are primarily in the condo market. Approximately 1,500 one-bedroom condos are listed across Toronto, starting at just $199,000. If you’ve got a solid down payment and can hold onto it for a decade, there’s strong potential for profit. With new condo projects being canceled, put on hold, or converted to rentals, inventory could stagnate, pushing affordability even further out of reach.

Another promising option? Properties that need significant renovation. Not as quick flips, but as principal residences. Renovation costs are unlikely to drop before the market rebounds, so buying now means securing a lower purchase price even if you pay a bit more for construction. Just recently, a semi-detached home in Cabbagetown in need of some TLC sold for under $900K, on a street where a renovated semi fetched $1.5M in 2023.

If you’re curious about your home’s current value or want to discuss the market, feel free to reach out. Let’s talk real estate.

April is when Toronto really starts to come alive. With the promise of sunnier days ahead and hopefully warmer temperatures, you can feel the energy on the streets slowly starting to build! There’s a lot happening in our city, including the return of Yayoi Kusama’s Infinity Mirrored Room at the AGO. Scroll down for a list of more April events, design trends, and budget friendly restaurants.

Earlier this week, the Bank of Canada held the key rate steady after 7 consecutive rate reductions! As we can see from the number of new listings, sellers are still optimistic about the market, but what will it take for the buyers to come back? That article is below.

That said, properties are still moving, but it takes an experienced agent and a combination of timing, pricing, staging, and marketing to get a home sold. If you're thinking about making a move this spring, now is the time to get in touch!

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The Bank of Canada surprised many this month by holding interest rates steady in response to the instability of what’s happening in the US. Governor Tim Macklem said “We still do not know what tariffs will be imposed, whether they'll be reduced or escalated and how long all of this will last.”

There are massive industries being affected right now, and even though there’s currently a 90 day hold on the tariffs, things could change tomorrow because the US is so erratic. It’s a scary time, so understandably, buyers are not confident that this is the right time to make a move.

A rate reduction would have been more positive, but perhaps we’ll see that happening on June 4, when the next rate announcement is scheduled. However, 7 rate reductions in a row weren’t quite enough to move the dial a ton, so another rate reduction likely wouldn’t have had a major impact. Sellers seem to be feeling positive though. In March, Toronto saw over 6,400 new listings, but just 1,908 sales. And I think we’ll see another uptick of increased listings  after Easter Weekend. I expect we’ll see hundreds of new listings hit the market over those two days; we usually do every year at this time.

Personally, I try to stay ahead of the curve – I have two new listings that I brought to market this week! Click here to see those!

It’s not just rates and tariffs that people are concerned about. The upcoming Federal election is also affecting the market. Elections always slow the market to a certain degree, because people are waiting to see what happens. Although people here are fairly polarized, it’s not as extreme as the differences in the US between left and right. I do think the housing market will be affected by our next PM. There is a sense that if Carney gets in, there will be a little more respect for Canada, which could boost confidence. Talk of us becoming the 51st state hasn’t been in the conversation since Carney went to visit the White House and was actually addressed as Prime Minister. I’m not confident the same would be true should Poilievre be elected.

Regardless of what happens with the numbers of buyers or sellers taking action, I don’t think there will be a major change or downturn price-wise. But certainly all this craziness happening is making people think “I need to squirrel away my nuts,” and not do anything until they have more certainty that their job is secure, the economy won’t collapse – and they can afford groceries.

Despite all the doom and gloom, there are opportunities in the market. With the sheer number of listings out there, if you are particular about what you’re looking for, there is a good chance you’ll be able to find it. Also, there are sellers on the market who really need to sell and will have to face the reality of what the market will bear right now. The houses selling quickly and for top dollar are the ones in the right neighbourhoods and have been completely renovated. Few buyers want to move into a place that requires some work, especially now with how high construction costs are these days.

If you’re curious about what’s happening in your neighbourhood or want to chat about the market, please reach out!