June 2025 Market Report

June 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

Summer weather is finally here, and Toronto is putting on a show – outdoor concerts, beach days, school fun fairs, and the sweet smell of sunscreen in the air.

Whether you’re catching rays on your favourite patio, dodging water balloons in the backyard, or planning your next move (literally), June is the month where we forget about the cold and dark winters and remind ourselves why we live in this amazing city.

So grab a cold drink, find some shade, and dive into your June 2025 Market Update – we’ve got all the latest insights, numbers, and strategies to help you stay cool and in-the-know.

Let’s get into it!

What We Are Seeing From the Field

In May, Toronto home sales were down 14.3% year-over-year, with 2,315 properties sold through TRREB’s MLS® system. Some buyers remain on the sidelines, waiting for more interest rate relief and economic certainty.

New listings were up 7.2%, giving buyers more options and in some cases, added leverage.

The average selling price across all property types in Toronto was $1,155,616 in May – down 3.2% from May 2024.

What does this mean for you?

Buyers are seeing a rare mix of choice and softer prices – a potential window of opportunity.

For sellers, standing out in a more competitive market means getting the pricing, presentation, and marketing just right – and having the right real estate team in your corner makes all the difference (that’s us!). We are still seeing turnkey homes in prime locations selling quickly and often receiving multiple offers.

Check out the May year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

60 Maybourne Ave! $849,000

We have a fantastic listing on the market that is a great opportunity for buyers who are looking for amazing value!

Tucked away on a quiet, family-friendly street, 60 Maybourne Ave is the kind of home that checks the boxes. With charming curb appeal, a bright open layout, and a dreamy backyard – this detached beauty is move-in ready and waiting for its next happy chapter.

Key Features:
Fantastic East-End Location – Peaceful street in a welcoming neighbourhood close to schools, Warden Woods and Taylor Creek Park, and easy access to transit and shopping.
Fresh Curb Appeal – Recently painted exterior, cozy covered front patio, and a private drive with 2 car parking.
Bright & Open Main Floor – Hardwood floors, plenty of windows, and a spacious open-concept living and dining area filled with natural light.
Spacious Kitchen & Family Room – Ample storage, a centre island for casual dining, and an impressive family room, complete with a woodburning fireplace.
3+1 Bedrooms – Three good-sized bedrooms upstairs, including a roomy primary, plus a bonus lower-level bedroom for guests or a home office.
2 Bathrooms – A 4-piece upstairs and a convenient 3-piece on the lower level.
Big Backyard Dreams – Fully fenced with a large deck, lush lawn, garden space, and a shed — perfect for summer BBQs and space for the kids or pets to roam.

Know someone who’s on the hunt for their dream home? Feel free to forward this email or share the listing with your friends and family. You never know who might fall in love with this gem!

Want More Info On 60 Maybourne Ave? Click Here!

We’re Proud to Sponsor the Leslieville Junior PS Fun Fair!

Mark your calendars!

The Leslieville Junior PS Fun Fair is back on Saturday, June 14th from 11am to 3pm.

This isn’t your average school fair, get ready for non-stop fun:
Bouncy castles
Double obstacle courses and slides
Inflatable sports games
A FREE art table and kids game zone
Face painting
Live music
Robotics games
Bake sale, food vendors, silent auction—and so much more!

It’s a day for the whole family!

We’re proud to support the school and all the incredible people who make this neighbourhood feel like home. So swing by and make some amazing memories!

For more info and tickets, please check out the event page HERE

We’re Here To Help!

As always, we would be happy to help you and any of your friends, family, colleagues, or neighbours with real estate services or advice. If you can think of anyone who could use our help, feel free to make an introduction! We promise we’ll make you look good.

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

May 2025 Market Report

May 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

If you know the TO Group, you know we live for this time of year – not just because patios are buzzing and the Blue Jays are swinging for the fences – but because the Toronto Maple Leafs are in the playoffs and the spring real estate market is in full stride!

There’s just something electric about May in Toronto. The city comes alive – flags on porches, jerseys on backs, and Sold signs popping up on front lawns like spring tulips. Buyers are out, listings are blooming, and for many families, it’s game time.

Whether you’re looking to score your next dream home, weighing a move, or just keeping an eye on the market (while nervously watching OT), we’ve got you covered.

Here’s your May 2025 Market Update – complete with all the latest stats, insights, and opportunities to help you stay ahead of the play.

Let’s drop the puck and get into it!

What We Are Seeing From the Field

April brought a typical seasonal increase in real estate activity compared to March, but total home sales across Toronto were still down compared to this time last year. In fact, Toronto REALTORS® reported 2,129 sales through TRREB’s MLS® system – a 17.5% drop year-over-year. Why? Many buyers are still sitting on the sidelines, waiting for lower borrowing costs and more economic certainty before jumping in.

With that said, new listings were up 6.8%, giving buyers more choice and leverage. With inventory at elevated levels, buyers had more room to negotiate, which put downward pressure on prices across some segments of the market.

Taking into account all market segments in Toronto, the average selling price in April was $1,144,977, down 0.6% compared to April 2024.

What does that mean for you? If you’re a buyer, it’s a rare moment of increased supply and softer prices – a window of opportunity in a market that usually moves fast. If you’re a seller, pricing strategy and presentation are key, especially as more inventory means more competition.

Looking ahead, we expect that many households are keeping a close eye on how the new federal government handles trade relations, particularly with the U.S.

A more optimistic economic outlook could restore consumer confidence and bring more buyers back into the market.

Check out the April year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

What to Expect for Housing & Mortgages After the Election

Well – that all happened quickly! With the Liberals re-elected under new leader Mark Carney, and another minority government in place, housing remains front and centre in Canadian policy conversations.

Here’s a quick breakdown of what the election outcome could mean for buyers, sellers, and homeowners:

Help for First-Time Buyers
One of the biggest promises? Removing GST on new homes under $1 million for first-time buyers. That’s a potential savings of up to $50,000. The policy hasn’t been passed yet, but it’s expected to be outlined in the federal budget next month.

Big Push for New Builds
Over $25 billion has been pledged to speed up housing construction – especially affordable and rental units where Canadians want to live – with support for municipalities, non-profits, and developers through low-cost financing.

Infrastructure & Zoning Support
Expect continued investment in transit, utilities, and municipal partnerships to support higher-density development, especially around transit stations — something Toronto has already been moving toward.

Rates Could Dip Further
Economists are predicting that The Bank of Canada may cut rates once or twice more this year, depending on economic conditions. That’s welcome news for variable-rate borrowers and anyone with a renewal coming up. Still, with global uncertainty, the path forward isn’t set in stone.

We’ll have more clarity once the federal budget is released – likely in June. In the meantime, it’s a great opportunity to review your plans and chat through any moves you’re thinking of making this year.

It’s Patio Season! (And we couldn’t be happier)

It’s always an exciting time of year when you can trade winter boots for sunglasses and hit some of your favourite patios! Here are some of our faves:

When we’re feeling laid-back after some tough negotiations, you’ll find us at Betty’s East soaking up the sun with a pint, or enjoying the family-friendly vibes and strong espresso game at Black Pony on Gerrard St E.

CafeTO’s patio setups make the city feel a bit like a Euro vacation (minus the airfare), while Lion on the Beach is perfect for casual hangs and people-watching on Queen St E in the Beach(es).

For tacos and tequila under the stars, it’s hard to beat the back patios at Chula or Tinga Kim in Leslieville. Bonus points to Nodo for pasta, wine, and a great vibe.

Do you have any favourites that we missed? Let us know – our research is always ongoing!

We’re Here To Help!

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

April 2025 Market Report

April 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

If you know the TO Group, you know we live for this time of year—not just because Blue Jays baseball is back, but because the Spring Market is heating up!

There’s something about that first crack of the bat that signals the start of a fresh season… and in real estate, it’s no different.

Spring is when the market shakes off the winter frost and comes alive—more listings, more buyers, and more opportunities for families to hit a real estate home run (if one of us is a Dad, does that give us permission to make jokes like that?)

Whether you’re scouting the field for your next place, considering a sale, or just like staying in the know, we’ve rounded up all the key stats and insights to help you make smart moves this spring.

Let’s dive into your April 2025 Real Estate Update—Play Ball!

What We Are Seeing From the Field

We’ve seen some encouraging shifts in the Toronto real estate market this March despite the constant news reports of tariffs, struggling economies, political instability, etc.

But let’s take a closer look at the numbers

Compared to last year, homeownership is becoming more accessible—great news for buyers who’ve been sitting on the sidelines. But for sellers? The sky is not falling. In fact, average prices in the City of Toronto are actually up 2.2% year-over-year—a sign that demand for urban living is still going strong.

Toronto March 2025 Highlights:

Home sales: down 17.3%
New listings: up 30.6%
Average price: up 2.2%

More listings means more choice for buyers, which naturally cools competition a little—but it also brings serious buyers into the market who now feel they can shop around and make confident decisions. If your home is priced well and shows beautifully, you’re still in a solid position to attract attention.

GTA-Wide Trends (for comparison):

Home sales: down 23.1%
New listings: up 28.6%
Average price: down 2.5%

Compared to the GTA as a whole, Toronto is holding its value better and proving that location still matters. We’re also keeping a close eye on interest rate movements—expected cuts this spring could spark renewed activity and bump demand.

Bottom line? Whether you’re buying, selling, or just curious, this market has opportunities—you just need the right game plan. And hey, that’s where we come in

Check out the March year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

In the News

We always get a kick out of some of the headlines we see about Toronto real estate.

We get it—journalists need to grab attention, and a dramatic headline is a great way to get people clicking and reading.

The problem? Sometimes those catchy titles can lead to a misunderstanding of the facts, which can stir confusion and even impact the market itself.

So, we thought we’d share a couple of recent headlines and offer some context. We’d love to hear your take, too! Feel free to reply to this email or give us a call. It’s always refreshing to hear perspectives from outside the Toronto real estate bubble we live in every day.

Headline: “Buyers offering way under asking price for homes in most parts of Toronto Area”

You might assume that prices have dropped significantly—but is that really the case? The truth is, listing strategies are always changing.

When a home sells “over asking,” it’s often just selling for market value. In many neighbourhoods, sellers will price a home below its true value to attract more buyers and spark competition. The goal? Drive the price up and sell “over asking.”

But that doesn’t always work.

Sometimes the market doesn’t respond, and the seller re-lists at a higher price with room to negotiate downward—closer to true market value. It all depends on the neighbourhood, timing, and what strategy is working that week. If we look at the average value of a home in the City of Toronto comparing March to February of 2025, the price has actually increased by 2.2%, which would prove that prices are not tumbling.

The market is always shifting and that’s why it’s extremely important to hire a professional who works in the market 7 days a week (that’s us!).

Headline: “Canadian Mortgage Arrears Climb To The Highest Rate Since 2021”

At first glance, that headline may have you thinking Canada is in serious trouble and homeowners are dropping their keys at the bank. But let’s take a breath and look at the facts.

First, a quick reminder: a mortgage is technically in arrears if a payment is just one day late. That’s it! And while the term sounds scary, it’s one of the most misunderstood economic indicators out there.

Yes, rising costs have made it harder for many households to stay perfectly on track. And yes, sometimes a late payment happens—not always because someone can’t afford their home, but because there’s simply less wiggle room these days.

Let’s look at the actual data:
The Canadian Bankers Association recently reported that the mortgage arrears rate in Canada rose slightly to 0.22% in January. That’s a 57% increase from the record low in 2022—but still well below 1%.

So, is that really a sign of mass panic? Or just a small shift in a very large system?

If you know us, you know we’re generally glass-half-full kind of guys. Of course, we never want to see anyone default on a mortgage—but let’s not let scary headlines paint an exaggerated picture. This is more of a blip than a crisis, in our humble opinion.

Do you have any other headlines that you’d like for us to analyze and provide perspective? Feel free to send them our way!

We’re Here To Help!

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

March 2025 Market Report

March 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

Hope you all made it through Snowmageddon in one piece—backs intact and shovels retired (for now)!

Spring is around the corner, and the real estate market is starting to heat up! Whether you’re thinking of buying, selling, or just love staying in the know, March is the perfect time to get ahead of the curve.

From market insights to expert tips, we’ve got everything you need to make smart real estate moves this season. Let’s dive into another Real Estate Update for March 2025!

What We Are Seeing From the Field

February was an interesting month in Toronto real estate.

Comparing year-over-year numbers, we saw an increase in inventory, a dip in the number of sales, and a slight uptick in the average price of a home. Right now, condo apartments and condo townhomes make up roughly 70% of all active listings in Toronto, while freehold homes (detached, semi-detached, row houses) are trading faster than condos.

OPPORTUNITY ALERT!

If you’ve been thinking about downsizing from a freehold home to a low-maintenance condo, this could be the perfect time to make your move. With increased inventory and shifting market dynamics, the opportunity to maximize the sale of your current home and secure a great condo deal is here.

We know there’s a lot of economic uncertainty in the air—tariffs, the stock market, elections, interest rates… the list goes on. But here’s some perspective:

Real estate has traditionally been one of the most stable long-term investments. Housing is a fundamental necessity that the general population puts at the top of their list.

Market uncertainty often presents some of the best investment opportunities. Maybe now is your time to capitalize on the market.

Check out the February year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

Opportunity Knocks – On Multi-Unit Doors

Toronto’s multi-unit housing market is in a sweet spot, but the clock is ticking. Prices dipped when interest rates jumped, leaving investors struggling to make rental income work. But here’s the thing: rates have started to drop, more rate decreases are expected, and new lending rules have slashed down payment requirements—making NOW a prime opportunity before prices shoot back up.

How Much of a Difference Does This Make?

Let’s break it down with a real-world example on a $1.2M multi-unit home in Toronto:

Key Takeaways:

Drastically Lower Down Payment – Saving for a home has become harder with rising costs, but now you need $145K LESS upfront to get into the market. That’s nearly 5 years’ worth of savings for an average couple making $200K/year (assuming a 15% savings rate).

Waiting Could Cost You Big Time – If home prices conservatively rise just 3% per year, this same $1.2M home could be worth approximately $1.4M in five years. Why wait to pay more later?

“But What About the Monthly Mortgage Payment?”

We get it—$5,500/month isn’t pocket change. But what if a tenant helped cover a big chunk of that?

House Hack Your Way to Homeownership:
Let’s say you buy a 2-unit home (both units with 2 bedrooms), you live in one unit while renting out the other:

Average rent for a 2-bedroom in Toronto = $3,200/month
Property taxes (~$500/month) + Utilities (~$300/month)
Your net cost to live in a multi-unit home = just over $3K/month

(That’s not a whole lot more than renting a 1-bedroom condo at $2,500/month while paying someone else’s mortgage!)

We don’t expect this window of opportunity to last long. If you’re serious about getting into the market before prices rise again, let’s chat and put a plan in place.

Reply to this email or DM us now—we’ll guide you every step of the way!

Attention High School Grads & Proud Parents!

Did you know that as a past or current client of our brokerage, your child could be eligible for a RE/MAX Hallmark scholarship?

Since 2007, our scholarship program has helped students achieve their post-secondary dreams, awarding over $220,000 in funding!

If your child is heading into their first year of college or university this fall, this is a golden opportunity to receive financial support.

Deadline to apply: April 30, 2025
Scholarship funds will be shared among selected applicants

Let’s make those tuition bills a little lighter! If you have any questions or need an application, reach out today!

*Terms and conditions apply

We’re Here To Help!

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

February 2025 Market Report

February 2025 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

February may be short, but it’s full of possibilities—especially in real estate!

Whether you’re eyeing your dream home, thinking of selling, or just curious about the market, we’ve got the latest trends and tips to keep you ahead.

Grab a warm drink and let’s dive into another Real Estate update for February 2025.

What We Are Seeing From the Field

Is that excitement in the air?

Every January, we feel a fresh wave of energy as buyers and sellers gear up for the year ahead—and 2025 is no exception!

We’ve already seen a surge in demand for freehold homes (detached, semis, and row houses), especially those that are renovated and checking all the right boxes. Many of these homes are selling quickly and in multiple offers, thanks to low inventory and eager buyers.

If you’ve been considering a move this year, let’s set up a chat to formulate a plan to help you capitalize in 2025.

Check out the January year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

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Looking For Things To Do In Toronto This Month?

Here’s just a few activities to enjoy with your loved ones

Family Day Activities

Date: February 17
Location: Various locations
Details: Celebrate Family Day with a range of activities, including free ice skating at Nathan Phillips Square, special exhibits at the Royal Ontario Museum, and family-friendly workshops at the Art Gallery of Ontario.

https://www.toronto.ca/explore-enjoy/festivals-events/family-day/

Toronto Black Film Festival

Dates: February 12–17
Location: Various venues
Details: Celebrate Black History Month by attending screenings of films from around the world, panel discussions, and special events highlighting Black culture and talent.

https://torontoblackfilm.com/

Winterlicious

Dates: January 31 – February 13
Location: Various restaurants across Toronto
Details: Savor three-course prix fixe menus at over 230 participating restaurants, offering a range of cuisines to delight every palate.
https://www.toronto.ca/explore-enjoy/festivals-events/winterlicious/

Canadian International AutoShow

Dates: February 14–23
Location: Metro Toronto Convention Centre
Details: Experience Canada’s largest automotive showcase featuring the latest vehicles, concept cars, and interactive exhibits.

https://www.mtccc.com/single-event/auto-show-2025-total-immersion/

Winterfolk Blues and Roots Festival

Dates: February 14–16
Location: Multiple venues along the Danforth
Details: Enjoy a weekend of live blues, roots, and folk music performances by local and international artists in cozy indoor settings.

https://www.winterfolk.com/

Vacant Home Tax – Don’t Forget To Declare!

Toronto homeowners, it’s that time of year again! The Vacant Home Tax (VHT) declaration deadline is fast approaching, and even if you live in your home, you still need to file (don’t forget any rental properties)!

Failing to make the declaration by April 30th could result in penalties or even having your home mistakenly classified as vacant, leading to an unexpected tax bill. Yikes!

The tax is now 3% of your current assessed tax value, so if your home was assessed at $800,000 you could be on the hook for $24,000 in tax!

*Keep in mind that MPAC generally uses an assessed value much lower than what your home is actually worth – this info should be on your final tax bill.

Not sure how to complete your declaration? No worries—we’ve got your back! Whether you need a quick rundown on the process or have questions about how the tax might affect you when selling, we’re here to help. Reach out anytime, and let’s make sure you avoid any unnecessary surprises.

Click Here To Make Your Declaration

We’re Here To Help!

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

January 2025 Market Report

January 2025 Newsletter

Thurston Olsen Real Estate Group

Do you remember when you were younger, you may have calculated how old you would be when we hit the year 2000? Well, that somehow happened a quarter century ago!

The great thing about a new year is the endless possibilities that it presents to us. A fresh start to think on what we want to accomplish and an opportunity to “reset”

Now, let’s take a few minutes to give you another Real Estate update for January 2025.

What Are Your 2025 Real Estate Resolutions?

Let the TO Group help you check them off your list!

The start of a new year is a great time to reflect on the year prior as well as an opportunity to think ahead and plan for your future.

Some of us love goal setting and others can find it intimidating. Don’t sweat it! If your 2025 goals are real estate related, let us help you complete them!

Maybe your family is growing and it’s time for an upgrade?

We can help make that transition to your next home as smooth as possible for you and your family.

Maybe the kids have left the nest and you are ready to “right-size”?

We are here to help you decide what type of property best fits the next stage of your life and to make transitioning a breeze.

Maybe you are tired of paying rent to your landlord so that they can pay off their mortgage with your hard earned dollars?

Let’s help you buy that first home so that you can start building your own equity for YOUR future.

Maybe you’d like to build equity and earn passive income through real estate investing?

We have a ton of experience with income properties and can help you understand the benefits and responsibilities involved in owning one.

Just reach out for a casual, no obligation chat at any time. Even if your goals are for 2028 and beyond, we are always happy to start the conversation so that you can be set up for success when the time comes.

Utilize Us!

A friendly reminder that we are here to support you in all aspects of being a homeowner, not just to help you buy or sell homes.

We are consistently fine-tuning our rolodex of house related professionals so that we can provide you with trusted names for when you need them the most.

We have painters, landscapers, handy people, furnace and A/C specialists, roofers, contractors, plumbers, electricians, mortgage brokers, lawyers, just to name a few…

So if ever you are in need of a local professional, you can start with us! There is a good chance that we have just the right person to help you out

Call or email us anytime

2024 Is In The Rearview Mirror, So Now What?

The Toronto housing market experienced another shift in 2024. The number of sales were down and new listings were up, while we saw an increased condo inventory that we haven’t seen in recent history. Prices overall, were down by a modest 2.7% for the average home in the city of Toronto. The market for freehold homes held fairly steady as the demand for those (especially renovated ones) remained strong.

High borrowing costs weighed heavily on affordability throughout 2024, however the Bank of Canada’s rate cuts in the second half of the year offered some much needed relief.

Looking ahead, further rate reductions and stabilized home prices could signal improved conditions in 2025.

We are cautiously optimistic on what 2025 holds for our market given the instability of our Government and with a new President of the US coming into power.

With that being said, we are expecting the number of sales to rebound back to the levels we are used to, as well as a modest increase in the average price of a home in our amazing city. The condo inventory should start to shrink now that interest rates have improved affordability for first time buyers while our city continues to grow in population.

Check out the December year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

Help Us Reach Our 2025 Real Estate Goals!

Like many of you, The TO Group also has real estate goals for 2025.

This year, we are determined to help as many of you, your family members, your friends, or your neighbours with their real estate needs. The more the merrier!

We would be forever grateful for the opportunity to help anyone you can think of that could use our expertise.

So feel free to introduce us! We promise we’ll make you look good.

We are so excited for 2025 and can’t wait to be of service to you and your people. Thank you for an amazing 2024!

Cheers! Chris and Ford

Questions About The Market? Schedule A Chat With Us!

December 2024 Market Report

December 2024 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

As 2024 comes to a close, we want to take a moment to say THANK YOU to each and every one of you for helping to make 2024 an incredible year in real estate for the TO Group. Your trust, support, and referrals have made all the difference, and it’s been an absolute privilege helping you and your people navigate the Toronto market.

From finding dream homes to building wealth through smart investments, we’re grateful to be part of the journey.

Here’s to an even brighter 2025—cheers to you and your families!

Now, let’s take a few minutes to give you another Real Estate update for December 2024.

Mark Your Calendars! The Bank of Canada Makes Their Next Rate Announcement on December 11th

The Bank of Canada is set to announce its final interest rate decision of the year on December 11th. This will set the tone for borrowing costs heading into 2025, with impacts on mortgage rates and affordability. Many are speculating that the overnight rate will decrease by either 0.25% or 0.5%. This will directly affect those who have or will be going for variable rate mortgages.

It will be interesting to see what happens with the fixed rates as they follow the bond yields and are not as directly related to the Bank of Canada overnight rate as the variable rates are. The election of Donald Trump in the USA will have some effect, but as long as we continue to see weaker economic information from Canada (ie. increased unemployment rates) the fixed rates have a good chance of staying low.

If you’re up for renewal in the next year or two, it never hurts to reach out to a mortgage broker to discuss options.

Need a recommendation? We have some great mortgage partners that are here to help. Just ask!

Reminder! Bold Mortgage Reforms: Making Home Ownership More Accessible in Canada

Exciting mortgage policy changes take effect on December 15th, offering new opportunities for buyers:

30-Year Amortizations for First-Time Buyers & New Builds: Lower monthly payments mean improved affordability, but higher overall interest costs.
Higher Purchase Threshold for Minimal Down Payments: Buyers can now put less than 20% down on homes priced up to $1.5M (up from $1M), though carrying costs remain significant.
Easier Lender Switching: Insured mortgage holders can renew with a different lender without a stress test, encouraging better rate competition.

These reforms aim to make buying a home easier but may also increase market competition and boost prices. We anticipate that this will have the biggest effect on homes in the $1M-$1.3M range. We see a huge opportunity for multi-unit homes where buyers can buy with less down and can supplement the higher costs of borrowing with rental income.

What We Are Seeing From the Field

The Toronto housing market is heating up as home sales surged by 39.1% year-over-year in November 2024. Buyers are jumping in, thanks to reduced borrowing costs and favorable market conditions, while new listings increased by a modest 4.2% compared to November 2023. However, this imbalance tightened market conditions, nudging the average home price up 2.8% year-over-year to $1,080,167.

Key Highlights:

Home Sales: 2,236 homes sold in November, with single-family detached homes driving much of the price growth.
Listings: 4,360 new listings entered the market, showcasing more opportunities for buyers.
Condo Market: While prices remain just below last year’s levels (down 1%), ample choice gives condo buyers strong negotiating power.

What’s Ahead?

With population growth fueling housing demand and borrowing costs trending lower, experts anticipate a robust market recovery in 2025.

This upbeat market trend hints at exciting times ahead. Whether you’re looking to buy, sell, or invest, now’s the time to plan your next move! Let’s Chat

Shout Out To A Local Business

In The Beach – Landscape Maintenance Specialists

Getting tired of staying on top of lawn maintenance, fall clean-ups, and snow removal? For some of us, life gets busy and exterior home maintenance tends to take a back seat. Why not consider hiring a trust-worthy professional and LOCAL company to help you protect your greatest investment, your home?

Our friends at In The Beach are a friendly and professional crew that focus on quality, dependability, and respect for their clients.

Book your seasonal services now and let the pros handle the hard work while you stay cozy indoors. Contact them today to secure your spot and make sure you mention that The TO Group sent you!

Visit In The Beach For More Info And To Book Their Services

Thank You for Making Our Holiday Season Food Drive a Huge Success!

(We may need a bigger truck for the next one!)

Thanks to the incredible generosity of many, our East Side Food Drive Holiday Season food drive in support of the Daily Bread Food Bank was a huge success—our most rewarding one yet!

We couldn’t have done it without you! Every donation made a real difference for families who needed it most. A heartfelt thank you to everyone who contributed.

Let’s continue making an impact together!

Learn More About Our East Side Food Drive Here

As always, we’re here for any real estate services or advice you, your family, or friends might need. Whether it be next week, next month, or next year, it’s never too early to have a chat regarding real estate plans. Feel free to introduce us—we promise to make you look great! ?

Cheers!

Chris and Ford

Questions About The Market? Schedule A Chat With Us!

Our Global Referral Network with RE/MAX and the TO Group

Feeling Cold and Looking for Some Sun?

Tap Into Our Global Referral Network with RE/MAX and the TO Group

Hey Friends,

We hope you’re doing well! It’s that time of the year where the cold weather has kicked in and you might be wishing you were somewhere warm right about now.

We thought this might be a good opportunity to let you know that our brokerage has just opened an office in Naples, Florida!

Imagine spending half of the year playing golf in sunny Florida, surfing in South America, or enjoying the extensive history of Europe.

You may have dreamed of owning a property outside of the GTA and you may not know where to start. We have good news – we can help!

We wanted to remind you that as part of the RE/MAX family, we have access to a vast global referral network that spans not only the GTA or Ontario, but worldwide.

Whether you or someone you know is looking to buy or sell a property, be it here in Toronto or anywhere around the globe, our referral network connects us with top agents internationally.

This means you can trust us to find the right expert, no matter where your next move or investment takes you.

If you or anyone in your circle needs real estate assistance, please don’t hesitate to reach out. We’re always here to help, with the power of a trusted global network behind us!

Cheers!
Ford and Chris

Click Here For Access To Our Exclusive Referral Network

November 2024 Market Report

November 2024 Newsletter

Thurston Olsen Real Estate Group

Hey Friends!

Halloween is in the rear-view mirror and All I want For Christmas Is You by Mariah Carey is back on the radio on repeat and that can only mean one thing: we must be in the home stretch for 2024!

Let’s take a few minutes to give you another Real Estate update for November 2024.

New Government Program: Unlock Your Home’s Equity to Build Secondary Suites

The Government of Canada has launched a new initiative designed to help homeowners tap into their home equity and contribute to addressing the lack of housing.

Starting January 15, 2025, Canadian homeowners will be able to access up to 90% of their property’s value to build secondary suites. This move is a big deal in the ongoing effort to boost housing supply and improve affordability.

Here’s a quick, easy-to-digest breakdown of the program’s key details:

How Does It Work?

Maximum loan-to-value (LTV): The LTV ratio can be up to 90% of the “as improved” property value, with the total property value capped at $2 million.

Amortization period: Borrowers can spread payments over up to 30 years, making the financial hit a bit more manageable.

Number of units: Homeowners can add up to four units on their property, including the existing one.

Self-contained units: Each secondary suite must (among other things) be a fully self-contained unit, meaning it has separate living facilities, such as a private entrance, kitchen, and bathroom. This helps to ensure compliance with municipal zoning requirements.

No short-term rentals: Sorry, Airbnb fans—these additional suites must be used for long-term rentals only.

Will This Actually Help Toronto’s Housing Crunch?

We’re all for creative solutions that empower homeowners and add much-needed housing. But let’s be real—is this just a convenient political move ahead of the 2025 elections, or will it genuinely make a difference in cities like Toronto, where housing demand keeps climbing?

What are your thoughts? Is this policy the game-changer we need, or just a flash in the pan?

What We Are Seeing From the Field

October brought a serious boost of energy to the Toronto real estate market, with home sales shooting up by a significant 36.7% compared to last year! Sales were clocked at 2,509, while new listings crept up by 5.1%. The result? Tighter market conditions and a bit more excitement in the air.

So, What’s Driving the Market?

The Bank of Canada’s rate cuts have attracted more buyers back to the market, thanks to better affordability and steady home prices. Translation? Buyers are feeling more confident, and the market is heating up!

Despite the hype, there’s still plenty of inventory on the market – especially in the condo market, which is keeping price growth in check (for now). But we don’t expect this to last forever. As inventory gets scooped up and construction struggles to keep pace with Toronto’s booming population, we could see prices ramp up by spring 2025. So, keep an eye out!

Policy Talk: Can Affordability Improve?

TRREB CEO John DiMichele is rooting for some policy shifts, especially the Conservative Party’s plan to nix the GST on new homes under $1 million. It’s a step in the right direction, but DiMichele suggests a smarter phase-out system for homes priced between $1 million and $1.5 million—especially for high-cost markets like the GTA and Vancouver.

What Does This Mean for You?
The market is evolving, and spring 2025 could bring some price hikes. Whether you’re buying, selling, or just curious, stay tuned for more updates.

Check out the October year-over-year stats below for more information on the current market. If you would like statistics specific to your neighbourhood, an updated Comparative Market Analysis for your home, or help deciphering what the numbers could mean for you, please let us know and we would be happy to provide that for you.

Thank You for Making Our Thanksgiving Food Drive a Huge Success!

At the TO Group, we’re deeply committed to supporting those in need within our community.

Thanks to your incredible generosity, our Thanksgiving food drive in support of the Daily Bread Food Bank was a huge success—our most rewarding one yet!

We couldn’t have done it without you! Every donation made a real difference for families who needed it most. A heartfelt thank you to everyone who contributed.

What’s Next?

Get ready for our East Side Food Drive: The Holiday Edition! We’re gearing up to spread even more holiday cheer. Stay tuned for details on how you can help us make the season brighter for our community members.

Let’s continue making an impact together!

Learn More About Our East Side Food Drive Here

As always, we’re here for any real estate services or advice you, your family, or friends might need. Feel free to introduce us—we promise to make you look great!

Cheers!
Chris and Ford

Questions About The Market? Schedule A Chat With Us!

East Side Food Drive – THE THANKSGIVING EDITION!

East Side Food Drive

THE THANKSGIVING EDITION!

Hey Friends,

With Thanksgiving just around the corner, we’re excited to announce that we’re gearing up for our 12th East Side Food Drive in support of the Daily Bread Food Bank!

We would love your help to make this event a success. To make it as convenient as possible for you, we’ll pick up your food donations right from your doorstep and deliver them to Daily Bread on your behalf.

Together with Daily Bread Food Bank, we believe that access to food is a basic human right, not a privilege. No one should go hungry or face barriers to accessing food.

If you live on the east side of Toronto and want to contribute, here are some of the most needed items:

– Shelf-stable and non-perishable foods such as rice, beans, pasta, and flour.

– Canned proteins like chicken and tuna.

Ready to help out? Click the button below, fill out the form, and have your donations ready for pickup on Thursday, October 10, 2024.

CLICK HERE TO CONTRIBUTE!

Not within our pick up area but still want to contribute?

You’re amazing! You can make a monetary donation directly to Daily Bread Food Bank by clicking the button below.

CLICK HERE TO MAKE A MONETARY DONATION TO DAILY BREAD

Friends in the East end?

Do you know someone who lives in the East end of Toronto who might be interested in contributing? Help spread the word about the East Side Food Drive by forwarding this email to them!

Want more info about our East Side Food Drive?

Check out photos and videos from our past events and learn more about our East Side Food Drive by clicking the button below!

EastSideFoodDrive.com

Thank you in advance for your support. We appreciate you and wish you a wonderful Thanksgiving!

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