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.