May's market numbers are in!

No matter where you are in your real estate journey, we’re here as a trusted source of insight—and we’re always up for a good conversation. Don’t hesitate to reach out!

April’s market numbers are in, and they show that we’re currently experiencing a little bit of a slower Spring market than we’ve seen in Toronto for some time. But here’s the twist: the LTHome Collective is more active this Spring than the stats want to give credit for! Why? Because in uncertain times, having trusted, experienced professionals on your side is more valuable than ever. The reality is despite some market uncertainty in some areas, Toronto and the surrounding areas are still a safe and stable place to live and many people still have good reason to make a move. 

Looking closer at what’s going on: inventory is on the rise, while sales are down. This shift is creating more opportunities for buyers, who now have the time to make thoughtful decisions. Many have been saving and preparing for years, and with interest rates coming down and home prices stabilizing, they’re ready to act. On the listing side, it is not all doom and gloom. A property that is properly prepared, priced correctly and marketed to its fullest potential is still selling, it just might not happen overnight - and that’s ok! We’re here, as we’ve always been, to help you navigate this process in the best way possible. 

No matter where you are in your real estate journey, we’re here as a trusted source of insight—and we’re always up for a good conversation. Don’t hesitate to reach out!

The March 2025 Market Numbers are IN.

If you're contemplating your next move whether selling or buying across the GTA, let's connect you with valuable market insight to position you for success!

It is more important than ever to team up with a Realtor who knows what is happening and has the experience to guide you through to your best opportunities! When trying to understand the Toronto real estate market, know that at LTHOME you have a Collective of Experience, Knowledge and Skill to help you successfully navigate the market and your next journey in buying or selling a home.

Our team is smart about how we approach each situation and home, both from the buying and the selling side. Making sure that we are strategic and using every tool to your advantage, from fine tuned negotiation skills, neighbourhood knowledge, a team of professionals supporting us and even connections with our colleagues across the city.

Home sales are finally up across Toronto, with 44% more sales in October compared to last year. While new listings also grew, they didn’t keep pace with the surge in sales, tightening the market. The average selling price even increased slightly by 1.1%. Several factors are likely at play here, including interest rate cuts from the Bank of Canada and a final push by buyers to enter the market before year-end. We anticipate that, even with plenty of inventory, prices may start to rise by spring 2025 as supply tightens.

With new mortgage rules coming into effect on December 15th—designed to help first-time buyers and those in the under-$1.5 million market—we expect to see a boost in the entry-level market, which will hopefully create a ripple effect across home sales.

Thinking of making a move this year? Or maybe you’d like to explore your options for next year? Give us a call!

We love stats, but we don’t always trust them completely. Why? Because while numbers don’t lie, they don’t always tell the whole story. It all depends on how they’re grouped!

Looking at the numbers for the GTA through September 2024, home sales were up compared to last year as more people took advantage of lower interest rates and falling home prices. However, on the ground, we’re seeing higher- and mid-priced homes selling faster, while the entry-level market is much slower. This slower pace in the entry-level segment could skew the average sale prices, making it seem like prices are rising more than they actually are.

With the recent drop in borrowing costs and changes to mortgage rules, we’re hopeful that it will become easier for more families—especially first-time buyers—to consider homeownership. Hopefully, this will shift the spring market in the right direction.

As for the next Bank of Canada announcement on October 23, we’re expecting at least a 25-point drop in the rate, and maybe even 50 points. Fingers crossed!

Is it a good time to buy or sell? Reach out, and let’s chat!