Skip to main content
Category

Monthly Market Updates

Sep 08
Love0
The Exhibition

August 2025 Toronto Real Estate Market Update

By Monthly Market Updates

If it felt like the market hit pause in August… it kind of did.

Between vacations, back-to-school prep, and one last cottage weekend, it’s no surprise that activity slowed across the board. For our team — and many of our clients — the majority of the month was spent away from the action. Historically, August tends to be one of the sleepiest months in Toronto real estate, and this year followed that familiar script.

That said, a quiet market doesn’t mean a stagnant one. Beneath the surface, some subtle (and potentially significant) shifts took place.

Sales Slow, Listings Rise – A Buyer’s Market (On Paper)

The Toronto Regional Real Estate Board (TRREB) reported 5,211 sales in August 2025 — a 2.3% increase year-over-year, but a sharp 14% decline from July. That drop wasn’t unexpected, given the seasonal slowdown. What stood out more was the surge in new listings: 14,038 properties hit the MLS, up 9.4% from last year and higher than July’s tally.

In plain terms: buyers had more to choose from, and fewer competitors to contend with.

TRREB President Elechia Barry-Sproule put it this way: “With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits.” (FYI, the Bank of Canada is meeting on Sept 17th to decide on the policy interest rate)

You can almost hear the fall market gears warming up… but then again, who really know!?!

Toronto Skyline
Toronto Skyline

Pricing Holds Steady — But Down From Last Year

The average selling price in the GTA came in at $1,022,143 — down 5.2% year-over-year and 2.81% from July. The MLS Home Price Index (HPI) Composite also fell 5.2% annually but held flat month-over-month.

That month-over-month stability may seem like good news for sellers, but context is everything. Properties sat longer, with average days on market rising to 49 — the second slowest pace of the year (only January was slower at 55 days).

In short: homes are still selling, but not without negotiation — and patience.

Condos: The Softest Spot on the Map

Of all housing types, the condo segment saw the steepest summer dip. Just 890 condo sales were recorded — making it the third weakest month of 2025. Prices followed suit, with the average condo selling for $667,660, marking the worst monthly performance of the year.

That said, inventory remains healthy and choice is abundant — which could be a silver lining for buyers looking to enter the market or make a move-up purchase.

What This Means for Fall (And Why September Matters More Than Ever)

August may have been sluggish, but fall could be a different story. With many buyers and sellers returning from summer break, we expect momentum to pick up in September.

TRREB Chief Information Officer Jason Mercer noted that, even with lower borrowing costs and softer pricing, affordability remains a challenge. But any additional cuts from the Bank of Canada — like the ones forecasted this fall — could bring sidelined buyers back into the game.

What Buyers and Sellers Should Know Right Now

For Buyers:

  • Inventory is your advantage. With listings up and competition low, now’s the time to shop around and negotiate with confidence.
  • Interest rate cuts may be coming. Acting before they hit the headlines could save you from bidding wars down the road.
  • Condos are especially soft. If you’ve been eyeing a unit downtown or looking for an investment property, this could be the moment to pounce.

For Sellers:

  • Buyers are cautious, not absent. Presentation, pricing, and patience are key.
  • Prep now for the fall surge. We expect renewed activity in September — having your listing market-ready could pay dividends.
  • Highlight value. With affordability still a top concern, make sure your home’s best features are front and centre.

Final Thoughts – Don’t Sleep on the Slow Months

Yes, August was quiet. But that silence came with a lot of signal: more listings, longer days on market, and room for negotiation across nearly every housing segment.

Sellers: now’s the time to prep your listing for fall. Presentation, pricing, and timing will matter more than ever.

Buyers: if you’ve been waiting on the sidelines, this might be the moment to step in. Less competition. More inventory. And the possibility of more favourable rates ahead.

After a well-earned summer breather, Toronto’s market is gearing up again — and we’re here to help you navigate what’s next.

Looking to buy or sell this fall?
Reach out to the Toronto Livings team — even if August was all about rest, we’re ready to help you move forward in September.

Aug 04
Love0
July Market Report

July 2025 Toronto Real Estate Market Update

By Monthly Market Updates

A Stronger Summer Showing

The Toronto real estate market delivered its strongest July sales performance since 2021 — a welcome shift after a slow start to the year. According to the Toronto Regional Real Estate Board (TRREB), 6,100 homes were sold across the GTA last month. That’s a 10.9% increase over July 2024.

New listings also climbed to 17,613, up 5.7% year-over-year. But with sales rising faster than listings, the market saw a modest tightening — signalling that more buyers are finding opportunities to jump in.

Are Prices Still Falling?

Yes — but there’s more to the story.

The MLS®Home Price Index (HPI) Composite Benchmark was down 5.4% compared to last year, while the average selling price dropped 5.5% to $1,051,719.

Month-over-month, prices held steady — suggesting the bottoming-out trend we started to see in June may be sticking around.

“Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales,” said TRREB President Elechia Barry-Sproule.

On the Ground: More Buyers, Faster Sales

From what we’re seeing firsthand — buyers are back.

Between back-to-back interest rate cuts earlier in 2025 and greater affordability in key segments (especially entry-level condos and townhomes), buyer activity is up. Homes are selling faster, showing traffic has picked up, and serious buyers are making moves.

This is the second month in a row that sales have outpaced new listings on a seasonally adjusted basis — a trend worth watching as we head into the fall market.

Rate Relief & Economic Outlook

While the Bank of Canada held its key rate at 4.25% in July, economists expect another cut may be on the table this fall (September is the next meeting).

Mortgage rates have already reacted, with many 5-year fixed options dipping below 5% — making ownership slightly more attainable for buyers who were previously priced out.

But the economic picture remains mixed. As TRREB’s Chief Market Analyst Jason Mercer notes:

“Recent data suggest that the Canadian economy is treading water… further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”

What About the Foreign Buyer Ban?

Despite its name, the foreign buyer ban isn’t an outright block. There are several exemptions that allow non-residents to purchase real estate in Canada, including:

  • Multi-unit buildings with 4+ units
  • Vacant land and development parcels
  • Recreational and rural properties
  • Purchases by international students and temporary workers under defined rules

This is important context for developers and investors looking at multiplex conversions or purpose-built rentals.

Key Stats at a Glance (July 2025)

MetricValueYoY Change
Home Sales (GTA)6,100+10.9%
New Listings17,613+5.7%
Avg. Selling Price$1,051,719-5.5%
MLS® HPI Composite—-5.4%
BoC Key Interest Rate4.25%—
5-Year Fixed Mortgage Rates~4.89%Lower than 2024

What Buyers and Sellers Should Know Right Now

For Buyers:

  • Timing is on your side. With prices flat month-over-month and rates slowly trending down, conditions are more favourable than they’ve been in years.
  • Competition is still manageable, but we expect that to shift as fall approaches — don’t sleep on pre-approval and fast decision-making.
  • Condos and townhomes are heating up, especially in midtown and west-end pockets. If you’ve been on the sidelines, now’s the time to revisit your strategy.

For Sellers:

  • Pricing matters more than ever. Overpricing is a fast track to stagnation — strategic pricing is key in this transitional market.
  • Presentation counts. With more motivated buyers, staging, pre-inspections, and marketing make a real difference.
  • We’re seeing faster sales for homes that show well and are priced right — especially in walkable, transit-connected neighbourhoods.

Final Thoughts

Affordability is improving. Buyer confidence is growing. And if July’s numbers are any indication, we’re moving toward a more balanced market.

With fall just around the corner, there’s likely more activity — and more competition — to come.

If you’re planning to buy, sell, or just want to know how the shifting market affects your next move, reach out to us here.

Want a better sense of your home’s current value? Get your free evaluation and we’ll show you what today’s buyers are paying.

Jul 07
Love0
Condo by the lake

June 2025 Toronto Real Estate Market Update

By Monthly Market Updates

Real estate in Toronto took another small step toward affordability in June. With borrowing costs and average selling prices still trailing last year’s levels, more buyers are beginning to test the waters—even if many are still playing the waiting game.

The housing market showed further signs of recovery in June, as buyers benefited from a growing number of listings. With more inventory to choose from, many were able to negotiate below asking prices—an early sign that market leverage is beginning to tip back toward buyers.

Sales and Listings: Market Gains Traction (Sort Of)

Realtors reported 6,243 sales through the MLS System in June—a modest 2.4% dip compared to June 2024. However, new listings jumped 7.7% year-over-year, reaching 19,839 properties.

On a seasonally adjusted basis, sales were up compared to May 2025, while new listings were down. That combination—more buying activity and slightly less inventory—continues the tightening trend we saw take shape this spring.

Inventory vs. Demand: Are We Headed for Balance?

Month-over-month momentum looks promising, but economic jitters still weigh on decision-making. Many households are hesitant to dive in until they feel more secure about their jobs, rates, and the overall direction of the economy. Still, as inventory tapers and options dwindle, that hesitation could turn into competition sooner than later.

What’s Happening with Prices?

Condos Reach New High for 2025

While overall prices in the GTA trended downward, the condo segment quietly notched a win in June. The average condo price rose to $731,232—the highest it’s been all year. That’s up from $709,905 in May and significantly higher than where the year started at $691,039.

This steady upward trend—especially with June breaking the ceiling—could be an early signal of shifting demand. With lower entry points than detached homes and improved affordability, condos might be the segment to watch as momentum builds through summer.

Foxbar Condo

Detached Prices Cool Off After Strong Start

Detached homes, meanwhile, saw a different trajectory in the first half of 2025. After peaking in February at $1,782,262, average prices for detached properties have gradually softened, settling at $1,641,868 in June. While still higher than January’s average of $1,579,386, the trend suggests a gradual cooldown from earlier highs.

Buyers in the detached segment may find more room to negotiate as prices ease off their earlier highs, especially with higher-carrying costs still weighing on the top end of the market.

Semi-Detached Homes Show Seasonal Resilience

Semi-detached properties had a relatively stable run through the first half of 2025. While they haven’t reached a new peak since March’s high of $1,337,498, June’s average price of $1,278,434 still sits comfortably above where the year began.

The numbers suggest a segment that’s holding firm despite broader market softening—offering a middle ground between affordability and space that continues to resonate with move-up buyers.

Townhomes Ride the Seasonal Wave

Townhomes had a mixed performance in the first half of 2025, with prices fluctuating month to month. After peaking in February at $1,028,339, the average townhome price slid back to $957,605 in June. While that’s still above January’s average of $941,893, the segment appears more sensitive to broader affordability pressures.

For buyers, this could present a timely opportunity—especially for those seeking more space than a condo offers but without stretching to a detached price point.

Overall Price Summary

June’s average selling price landed at $1,101,691, representing a 5.4% drop year-over-year. The MLS Home Price Index Composite Benchmark also dipped 5.5% compared to June 2024. Month-over-month? Both the average price and HPI edged slightly lower from May.

This downward pressure on pricing isn’t new—it’s been with us for several months—but it continues to create an entry point for buyers who were previously priced out.

Price Chart – YoY and MoM Breakdown

MetricJune 2024May 2025June 2025% Change YoY% Change MoM
Average Price$1,164,714$1,110,905$1,101,691-5.4%-0.8%

What’s Fueling (or Delaying) the Recovery?

The market isn’t just reacting to supply and demand—it’s heavily influenced by macroeconomic factors. According to TRREB CIO Jason Mercer, a firm U.S. trade deal and two more expected rate cuts could help “make monthly mortgage payments more comfortable for average GTA households.” That added affordability, paired with improved consumer confidence, could push the recovery into higher gear.

But as of now, buyers are taking their time. Inflation progress has been choppy, and many are still skeptical that rates will come down fast enough to offset homeownership risks.

What Buyers and Sellers Should Know Right Now

For Buyers:

  • More listings mean more choice—and leverage.
  • Sellers are increasingly open to negotiation.
  • Lower borrowing costs = better affordability, even if only modestly improved.

For Sellers:

  • Price competitively to attract attention.
  • The tightening trend could benefit well-prepared listings.
  • With some buyers still on the sidelines, it’s not a frenzy—but serious shoppers are out there.

Final Thoughts: Recovery in Progress, but Far from Over

June continued the pattern we’ve seen throughout spring—a cautious, buyer-empowered market where affordability is slowly improving, but uncertainty still clouds the outlook. The next few months will be crucial. If confidence improves and rates continue to ease, Toronto’s real estate market could be poised for a steadier rebound – but who knows!

Curious what this means for your next move? Reach out by dropping us a message below—we’ll help you navigate the numbers and the nuance.

Jun 06
Love0
Tree lined residential street with older two story Tudor style

Toronto Real Estate Market Update – May 2025

By Monthly Market Updates

For buyers, sellers, and the real estate-curious, the numbers are in—and they’re telling a story of supply, hesitation, and opportunity.

According to the Toronto Regional Real Estate Board’s (TRREB) May 2025 data, GTA home sales dropped 13.3% year-over-year, totaling 6,244 transactions. Meanwhile, new listings surged by 14% with 21,819 homes hitting the market. That pushed active listings up a striking 41.5% compared to last May, with some months earlier this year even seeing inventory jumps north of 70%.

But more choice hasn’t translated to more action. The average home price slid 4% from May 2024, now sitting at $1,120,879. And homes are taking longer to sell—TRREB data aligns with what we’re seeing on the ground: even well-staged, competitively priced homes are sitting longer than they did last spring (nearly 40 days, in total)

Property Type Insights

If 2021 was the year of the condo bidding war, 2025 is shaping up to be the condo cooldown.

Condo sales dropped a sharp 25% year-over-year. In fact, TRREB notes that fewer condos are trading hands now than during the early ‘90s.

Detached homes haven’t fared much better, but not all segments are in the red. In the 416, semi-detached homes and townhouses posted modest gains—up 1.5% and 3.4%, respectively—indicating that more budget-conscious buyers may be shifting focus to multi-family options.

Toronto Skyline with condos
Toronto Skyline with condos

Economic Factors Influencing the Market

So, what’s behind the slowdown? It’s not just prices or mortgage rates—it’s confidence.

Yes, borrowing costs are down slightly compared to last year, and yes, prices have dipped. But the real wildcard appears to be economic uncertainty.

The Bank of Canada has held its benchmark rate at 2.75% for two consecutive months, offering cautious optimism—but with the federal government’s latest Throne Speech reiterating housing promises without delivering timelines, many buyers remain on the sidelines.

Still, not all economic indicators are gloomy. Inflation cooled to 1.7% in April, and with unemployment rising to 7%, a rate cut could be on the table this summer—a move that would be particularly welcome for first-time buyers and those up for renewal.

Rental Market Dynamics

While the resale market softens, Toronto’s rental market tells a different tale. Rents are creeping up month-over-month, with average unfurnished one-bedrooms renting for $2,148. That’s a 1.02% increase from April, though still about $91 cheaper than the same time last year.

The real shift is in inventory—tenants now have far more options. For landlords, that means more competition. For renters, it may mean finally finding a place that ticks all the boxes—without a bidding war.

Navigating the Current Market

We’re in a transitional phase, not a tailspin. And with change comes strategy.

Buyers: You now have time on your side. Properties are sitting longer, sellers are more flexible, and your window to negotiate has widened. But don’t let analysis paralysis cost you a great home—especially with the potential for rate cuts later this year.

Sellers: The days of ‘list Friday, sold Monday’ are behind us—for now. In a crowded market, pricing smart and staging well are your new best friends. We’re advising our clients to lead with value and market with intention.

Everyone else: Whether you’re upsizing, downsizing, or simply trying to make sense of it all, the right advice matters more than ever. Every neighbourhood, property type, and price band tells a different story.

Thinking of buying or selling in this shifting market?

Let’s talk strategy. Whether you’re looking for your next home or need guidance on listing in today’s conditions, we’re here to help – Book a consultation or reach out anytime.

May 01
Love0
House in Toronto

April 2025 Toronto Real Estate Market Recap

By Monthly Market Updates

April in Review – Affordability Improves, But Confidence Lags

Toronto’s spring market has always set the tone for the year ahead—and April 2025 was no exception. Realtors in the GTA recorded 6,244 sales in May (reflecting April activity), a 13.3% decline from the same time last year. But while the numbers might seem underwhelming, the mood on the ground tells a more nuanced story.

New listings jumped to 21,819, marking a 14% increase year-over-year. That means buyers suddenly have options—a refreshing change after years of limited inventory. With more supply comes less competition, fewer bidding wars, and more room to negotiate.

TRREB President Elechia Barry-Sproule put it succinctly: “Buyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances.”

Translation: the market is shifting, but your experience will depend on where—and what—you’re buying.

Buyers Have Leverage—So What’s Holding Them Back?

Affordability has improved. Mortgage rates have eased slightly. Listings are up. In theory, this should be a slam dunk for buyers. And yet? Many remain cautious.

The average selling price in the GTA was $1,120,879, down 4% year-over-year. The MLS® Home Price Index Composite Benchmark slipped further, down 4.5%. Still, both measures edged up slightly month-over-month, hinting that prices might be stabilizing.

So, what gives? It’s not just about numbers—it’s about confidence and at the moment, there isn’t a whole lot of it!

Want to track the financial factors influencing real estate? Canada Mortgage Trends and Bank of Canada rate updates are great places to start.

#image_title

Signs of Life: Month-over-Month Momentum

Despite a cooler year-over-year picture, recent momentum is pointing upward. April to May sales increased for the second straight month. While new listings also rose, they didn’t outpace sales—suggesting mild tightening in market conditions.

Does this mean a full recovery is underway? Not quite. But well-priced, move-in-ready homes—especially in transit-connected or walkable areas—are starting to attract serious attention.

Want a deep dive into the data? TRREB Market Watch has you covered.

What We’re Seeing On the Ground

Here’s what we’re noticing from our conversations and showing schedules:

  • Buyers are crunching the numbers first—and only booking viewings when the math makes sense.
  • Sellers who price realistically (think: post-peak expectations) are getting action. Overpriced listings? Not so much.
  • In-demand areas like the Junction, St. Clair West, and Leslieville continue to draw steady interest—especially for family-friendly, move-in-ready homes.

Got your eye on something unique? Explore Lofts for Sale in Toronto to see what’s out there.

What’s Next? Rate Cuts, Supply Fixes, and Opportunity Windows

TRREB has emphasized that government follow-through on housing initiatives is critical. That means:

  • Lowering excessive taxes and fees
  • Speeding up permitting
  • Encouraging innovation in housing construction

TRREB CEO John DiMichele also noted that a rate cut, especially with inflation cooling, would be a welcome boost for both new buyers and those renewing their mortgages.

Stay informed with:

Final Take – Opportunity, If You’re Ready

Toronto’s April market felt like the start of something. Prices dipped, listings rose, and with that came renewed breathing room. While macroeconomic jitters haven’t vanished, motivated buyers are quietly stepping forward.

If you’re planning a move, now’s a great time to get your ducks in a row—before competition heats up again.

Book a Buyer Consultation to map out your next steps, or send us a message using the form below!

Apr 03
Love0

March 2025 Market Update: More Listings, Lower Prices

By Monthly Market Updates

Let’s kick things off with some good news: homeownership in the GTA just got a little more affordable. Compared to March 2024, borrowing costs are down, home prices have dipped, and monthly payments are easing. For would-be buyers, that’s a welcome shift after years of relentless price growth and tight supply. Sounds like a win, right?

Well… yes and no.

Inventory Surges While Sales Slow

According to TRREB, 5,011 homes sold in March 2025 — a sharp 23.1% decline compared to the same time last year. Meanwhile, 17,263 new listings hit the market, representing a 28.6% year-over-year increase. That’s a notable rise in inventory, but fewer transactions are closing.

This growing disconnect between supply and demand signals a deeper shift in buyer behaviour. Whether it’s higher interest rates earlier in the year, uncertainty around employment, or just the overwhelming number of options, buyers are taking their time. They’re comparing, calculating, and — more often than not — waiting.

“Once consumers feel confident in the economy and their job security, home buying activity should improve,” said TRREB President Elechia Barry-Sproule.

In other words, this is more about psychology than pricing. Confidence — or the lack of it — continues to shape how and when deals get done.

Prices Dip, Then Flatten

The MLS® Home Price Index Composite benchmark dropped 3.8% year-over-year, while the average selling price landed at $1,093,254, a 2.5% decline from March 2024.

Month-over-month on a seasonally adjusted basis? Prices were essentially flat. That stability could suggest we’re nearing the bottom of the current price cycle. While that doesn’t mean prices will suddenly rebound, it does imply we may be entering a phase of price normalization, where the swings aren’t as dramatic — at least for now.

Across the GTA, pockets of opportunity are emerging. Detached homes in outer-416 zones, for instance, are seeing greater price flexibility. And for first-time buyers? Smaller condos, especially in older buildings, may offer better value than they have in recent memory.

King West Views
King West Views

More Affordable, But Buyers Are Cautious

The silver lining this month is clear: affordability has improved. With lower borrowing costs, more listings to choose from, and sellers increasingly open to negotiation, buyers have the kind of leverage that was virtually unheard of just a few years ago.

Yet many are still cautious. Why?

Between federal election buzz, trade policy uncertainty, sticky inflation, and concerns about job security, it’s a cocktail of hesitation. Add in memories of recent market volatility — and for some, declining home equity — and it makes sense that people want to be sure before making big moves.

“Home buyers need to feel their employment situation is solid before committing to monthly mortgage payments over the long term,” added TRREB’s Jason Mercer.

Anecdotally, we’re seeing more conditional offers, longer decision cycles, and increased reliance on financial advisors and mortgage pre-approvals. This isn’t panic — it’s prudence. And in today’s market, that mindset is driving the tempo.

What We’re Watching This Spring

  • Interest Rate Decisions – Expected cuts from the Bank of Canada could further ease borrowing pressure. If rates fall meaningfully, expect renewed interest in the detached segment.
  • Election Promises – Housing is a key issue across party platforms. Will that turn into meaningful action? Policy clarity could push more buyers off the fence.
  • Buyer Sentiment – Confidence is still the wildcard. If job numbers remain strong and inflation cools, momentum could shift quickly. Until then, a cautious optimism prevails.
  • Investor Activity – With prices soft and rents holding, some investors are eyeing re-entry — particularly in mid-rise buildings and transit-connected nodes.
  • Spring Showings Volume – Foot traffic at open houses is up, but conversions remain slow. If we see a rise in accepted offers heading into May, that may mark a true turning point.

Final Thoughts

Yes, affordability is improving and options are expanding. But for now, many buyers are keeping their hands in their pockets. That said, markets like this can create rare opportunities — especially for those willing to move when others wait.

If you’re thinking about buying, selling, or just want to understand where you stand, let’s talk. Whether you’re upsizing, downsizing, or exploring a new neighbourhood, we’ll walk you through what’s moving (and what’s not) — and help you navigate every step with clarity.

Mar 01
Love0
Aerial view of the Joel Weeks Park in Toronto

February 2025 Toronto Real Estate Market Update

By Monthly Market Updates

A Cooler Month, But Buyers Hold the Advantage

February 2025 delivered another month of subdued sales across the Greater Toronto Area (GTA) real estate market—but for buyers, the upside was choice. TRREB reported just 4,037 sales through the MLS system, marking a 27.4% decline compared to the same time last year. However, new listings climbed 5.4% year-over-year to reach 12,066. That surge in inventory gave buyers the upper hand in negotiations, especially those less reliant on financing.

So why the slowdown? In a word: affordability. Mortgage rates are still biting into monthly budgets, keeping many would-be buyers on the sidelines – the desire to buy is there, but the numbers don’t yet pencil out for the average household.

Average Prices Dip—But There’s Context

With demand down and supply up, prices followed suit. The average selling price across the GTA landed at $1,084,547 in February—down 2.2% from a year earlier. The MLS Home Price Index (HPI) Composite benchmark dipped 1.8% over the same period.

Month-over-month metrics (adjusted for seasonality) also edged slightly lower, suggesting softness in the short term. But this isn’t necessarily a red flag. Market lulls this time of year aren’t unusual, and we’re still navigating some choppy economic waters.

Confidence in Limbo: Rates, Trade & Political Unknowns

Beyond borrowing costs, there’s a broader confidence issue brewing. TRREB Chief Market Analyst Jason Mercer highlighted that some buyers appear to be adopting a wait-and-see mindset. Concerns about Canada’s trade relationship with the U.S. and uncertainty around provincial and federal housing policies have added to the hesitancy.

What happens next may come down to two things: policy clarity and interest rate direction. A decline in borrowing costs—which many economists expect by mid-2025—could help reinvigorate the market. But consumers will likely want more reassurance about economic stability before jumping in.

What to Watch for This Spring

There’s still room for optimism as we move toward the busier spring market. A few key things to watch:

  • Rate relief: Even a modest drop could expand affordability for first-time buyers.
  • Inventory pressure: With listings up, sellers may need to sharpen their pricing.
  • Confidence comeback: If political and trade tensions cool, pent-up demand could be unleashed.

We’re not in recovery mode just yet—but the foundation is being laid.

Should You Buy Now or Wait?

The answer depends on your situation. For upsizers, downsizers, and cash-ready buyers, today’s inventory-heavy market offers more choice and more leverage than we’ve seen in years. If you’re in a position to act, this lull could be an opportunity.

That said, if your budget is tightly tied to interest rates, waiting a few more months could mean accessing more purchasing power.

One thing remains clear: Toronto’s real estate market is still very neighbourhood-driven. While the overall stats show a slowdown, specific pockets might tell a different story. As always, smart strategy starts with local insight.

Want to chat further? Send us a message below!

Feb 04
Love0
View of Toronto City from above - Toronto, Ontario, Canada

January 2025 Toronto Real Estate Market Update: A Steady Start with Spring Optimism Ahead

By Monthly Market Updates

A Cool Start to the Year—But Don’t Let That Fool You

If you judged 2025 by January alone, you might think we were in for another sluggish year. Realtors reported 3,847 home sales through TRREB’s MLS® System, which marked a 7.9% decline compared to January 2024. But zoom in and you’ll see a different story: seasonally adjusted sales actually increased from December 2024. Momentum, it seems, is starting to build.

On the supply side, there’s been a dramatic shift. New listings surged 48.6% year-over-year, reaching 12,392. This uptick suggests that sellers are feeling more confident heading into the spring market, giving buyers more options to work with.

Price Trends Show Stability, Especially for Single-Family Homes

While transaction volumes dipped, prices remained surprisingly steady. The average selling price across the GTA hit $1,040,994, up 1.5% compared to the same time last year. The MLS Home Price Index Composite Benchmark also posted a modest gain of 0.44% year-over-year.

What does this mean? In a word: balance. Condos remain plentiful and price growth is muted. But for single-family homes, especially in tight-supply pockets, values are inching upward. TRREB expects this trend to accelerate as borrowing costs continue to ease.

TRREB’s 2025 Forecast: More Sales, Moderate Price Growth

If January is the warm-up, the rest of 2025 could be the main event. TRREB forecasts 76,000 total home sales this year—a 12.4% increase over 2024. This optimism stems from one major factor: lower mortgage rates.

More affordable borrowing means more would-be buyers will step off the sidelines. TRREB anticipates the average GTA home price will reach $1,147,000 by year-end, a 2.6% bump that keeps pace with inflation.

This isn’t a return to bidding-war chaos—and that’s a good thing. It’s a sign of a healthier, more sustainable market.

The Bigger Picture: Supply, Confidence, and Collaboration

Beyond numbers, TRREB’s annual outlook highlights a structural message: Toronto needs more diverse housing.

From purpose-built rentals to townhomes and multiplexes, the GTA’s future depends on supply that fits real-world budgets. TRREB President Elechia Barry-Sproule emphasized the need for “missing middle” options, while CEO John DiMichele pointed to the hurdles: development charges, taxes, and red tape that slow down new builds.

If affordability and traffic congestion are interconnected challenges, then coordinated solutions are the only way forward. We need policy that encourages building — not barriers that stall it.

What This Means for Buyers and Sellers Right Now

With inventory up and prices still relatively stable, the early-year market presents real opportunity for both buyers and sellers.

For buyers: now is the time to revisit that mortgage pre-approval, build your wishlist, and line up financing ahead of a likely busier spring.

For sellers: increased listings mean more competition. Proper pricing, presentation, and marketing matter more than ever. If you’re thinking of moving, acting early might just give you an edge.

Curious about how these trends affect your specific neighbourhood or property type? Let’s connect—we’re always happy to translate market shifts into smart real estate moves.

Want to learn more about Toronto condo prices or explore why purpose-built rentals are gaining traction? We’ve got you covered.

Jan 03
Love0
Winter on Toronto Islands CN tower

Toronto Real Estate Market Update: What December 2024 Revealed About a Year in Transition

By Monthly Market Updates

According to the Calendar… It’s December. According to the Market… We’re in Transition.

2024 ended with more listings, a little more movement, and still a whole lot of waiting. While many hoped for a year of price rebounds, what we got was something far more nuanced: a market full of choice, cautious optimism, and plenty of negotiating room—especially in the condo space.

So, what did December numbers—and the year as a whole—really tell us?

Let’s dig in.

Toronto’s December Market at a Glance

Sales + Listings Snapshot

December closed out with 3,359 home sales across the GTA—a slight dip compared to the same time last year. That said, new listings continued to rise, extending the fall trend of a market that’s heavy on supply and light on urgency.

Prices Stay Subdued

The average selling price for December sat at $1,067,186, down marginally year-over-year. The MLS® Home Price Index Composite Benchmark ticked up by less than 1%, pointing to price stability, not growth.

In short: prices didn’t crash, but they didn’t climb either.

2024 in Review – A Market Defined by Caution and Choice

Year-End Totals

  • Total 2024 sales: 67,610 (↑ 2.6% from 2023)
  • New listings: 166,121 (↑ 16.4%)
  • Average price: $1,117,600 (↓ 0.8%)

Inventory grew at a much faster pace than buyer activity. The result? More selection, more time to make decisions, and more leverage for those who were ready to buy.

Why Buyers Held the Upper Hand

Two words: interest rates.

High borrowing costs remained a major hurdle for much of the year. While many homeowners stayed put, buyers were only willing to act when the price—and the carrying cost—was right. That restraint kept prices in check and pushed sellers to meet the market.

Houses Held Strong—Condos, Not So Much

Detached and Semi Sales Rebounded

Ground-oriented homes saw a modest bounce. In fact, single-family home sales were up in 2024—especially in the 416, where family-friendly inventory remains tight. Prices here held up better thanks to ongoing demand and less investor involvement.

Condos Took a Hit

The condo market, on the other hand, faced a tougher climb. Many first-time buyers continued to wait for deeper rate cuts, while investor interest waned under the pressure of high holding costs.

Bottom line: it was a soft year for condos, especially in the downtown core.

What Changed Mid-Year? Two Words: Interest Rates

The Bank of Canada issued two back-to-back rate cuts in the second half of 2024—moves that many hoped would reignite activity. And while the full impact hasn’t played out yet, it did shift buyer sentiment.

By year-end, some sidelined buyers began to re-engage—but cautiously. The next few months will show whether this was just window shopping or the start of a stronger market push.

What’s Next in 2025?

If borrowing costs continue to fall and prices remain below historic peaks, we could be in for a more active spring. That said, the gap between buyer expectations and seller reality hasn’t closed yet.

Expect condo prices to stay soft for now, while detached homes in desirable areas may attract more competition as affordability improves.

A few trends we’re watching:

  • Renewed interest in pre-construction condos (if incentives return)
  • Growing rental demand as buyers remain cautious

Final Thought – Still Watching, Still Waiting

Toronto’s real estate market didn’t boom or bust in 2024—it reshuffled.

With buyers calling the shots and sellers recalibrating, we’ve entered a phase that rewards patience, planning, and professional advice. Whether you’re considering upsizing, downsizing, or entering the market for the first time, early 2025 may offer one of the most balanced playing fields we’ve seen in years.

Ready to Make a Move?

If you’re thinking of buying, now might be one of the most negotiable markets we’ve seen in a while. And if you’re selling, strategy matters more than ever. Get touch with us by leaving a comment below!

Dec 01
Love0
Interior of Condo

November 2024 Toronto Real Estate Market Update

By Monthly Market Updates

November Snapshot – Sales Surge, Prices Nudge Up

According to the calendar… 2024 is nearly in the rearview. According to the data? The recovery may have already begun.

In November 2024, GTA home sales shot up 40.1% compared to the same time last year, clocking in at 5,875 sales. While new listings also increased, they rose by a much softer 6.6%—tightening market conditions and pushing average prices upward. The average selling price across the GTA reached $1,106,050, up 2.6% year-over-year.

On a seasonally adjusted basis, November also showed an uptick from October, suggesting that buyer confidence is returning earlier than expected.

Detached Homes Lead the Way

It’s detached homes that are doing the heavy lifting. With lower borrowing costs easing monthly payment pressure, many buyers are upgrading from condos or entering the market directly into low-rise homes.

The result? Detached properties, particularly in the City of Toronto, saw price growth that outpaced inflation. This segment continues to outperform as buyers prioritize space, privacy, and long-term value.

Condos Still Soft, But Opportunities Are Brewing

While freehold homes heat up, condos remain cool. Average prices for condominium apartments are still lower than a year ago—largely due to continued high inventory.

But here’s the upside: buyers have more negotiating power than they’ve had in years. This opens a window for renters who’ve been watching mortgage rates with interest. As borrowing costs continue to trend downward, we may see condo demand quietly rebound heading into spring.

What’s Driving the Shift?

The stage was set in early 2024: inflation finally began cooling, and with it came the start of a downward trend in borrowing costs. After months of waiting, many buyers are stepping off the sidelines.

Add in lower average prices (still well below peak levels), and the result is a more accessible market—with pent-up demand ready to ignite.

What This Means for Buyers and Sellers

If you’re a buyer, be strategic. Detached homes are tightening quickly, especially in prime pockets of Toronto. If you’ve been eyeing a condo, this may be your best shot to secure a deal.

For sellers, especially those in the low-rise segment, the outlook is promising. With fewer listings and more active buyers, properly priced homes are drawing attention—and offers.

Chart: GTA Market by the Numbers (Nov 2023 vs. Nov 2024)

MetricNov 2023Nov 2024% Change
Home Sales (GTA)4,1945,875+40.1%
New Listings10,87411,592+6.6%
Avg. Selling Price (All GTA)$1,078,900$1,106,050+2.6%
MLS HPI Benchmark↓ sharper drop↓ just 1.2%Improving

Looking Ahead – What Will 2025 Bring?

Will the Bank of Canada make further cuts? Will condo inventory finally shrink? Can first-time buyers take advantage of winter pricing before the usual spring surge?

The signs are pointing to an earlier-than-expected rebound. And while interest rates and inflation remain moving targets, buyer optimism is trending up.

Final Thoughts + What You Can Do Next

November’s market offered a glimpse of what 2025 might hold: more activity, tighter inventory, and renewed confidence. If you’re planning to make a move, now’s the time to build a strategy.

Ready to Talk Strategy?

Let’s break down your options over coffee—or Zoom. Whether you’re renting, buying, or just exploring, we’ll help you build a plan that works for 2025 and beyond.