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!

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.

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!

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

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.

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.

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.

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

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.

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

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

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.

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.

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

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

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

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

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.

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?

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!

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

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.

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!

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

Thurston Olsen Real Estate Group

Hey Friends!

October is not just about pumpkins and falling leaves—it’s a time to reflect on the incredible community spirit in Toronto.

As we gear up for Thanksgiving and upcoming holiday events, we’re here to support both your real estate needs and community efforts, including our latest East Side Food Drive.

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

Who wouldn’t want that?!

At The TO Group, we leverage our extensive network of industry professionals to help you achieve your financial goals. One of our trusted mortgage brokers, Zac Lofeudo from the Vine Group, is hosting a complimentary seminar on how to benefit from the Rental Cash Damming strategy.

This CRA-approved method can help you pay off your mortgage up to 15 years sooner while saving on both taxes and interest!

If you have equity in your home or own rental properties, you won’t want to miss this seminar. Don’t miss out on this opportunity to fast-track your financial freedom. ?

Click the link below to register for the seminar and start your journey to smarter real estate investing!

Big changes are coming to Canada’s mortgage policies, effective December 15th, aimed at improving affordability and accessibility for homebuyers. While these reforms offer exciting opportunities, they also come with some potential challenges for the long-term housing market. Let’s dive into the key changes:

1. Extended Amortization Periods: For first-time homebuyers and those purchasing new builds, the amortization period is increasing to 30 years (up from 25 years). This lowers monthly payments, improving affordability. However, keep in mind that a longer mortgage means paying more in interest over time.
2. Higher Purchase Prices with Less Down: The threshold for a less than 20% down payment has increased from $1 million to $1.5 million. This allows buyers to purchase higher-priced homes with smaller down payments. But remember, carrying costs for a $1.5 million home with a minimal down payment can be high, so this will benefit a select group of buyers with high incomes.
3. Increased Competition Among Lenders: Insured mortgage holders can now switch lenders at renewal without going through another stress test. This opens up competition, making it easier for Canadians to find better mortgage rates.

These reforms aim to make home ownership more accessible, but will also impact affordability. Whether these changes are a long-term benefit remains to be seen.

Our prediction? We feel that this may fuel demand and competition in the marketplace which could boost home values. Now could be a great time to buy.

Let’s have a chat if making a move has been on your mind!

More new listings and more sales!

As expected with a typical fall market, new listings and sales improved compared to August 2024. More encouraging is that new listings (+8.5%) and sales (+3.7%) have both increased year over year compared to September 2023. A welcome sign showing increased activity in the market compared to last year!

Average prices remain fairly level compared to last September. However, we did see a price improvement of approximately 8.5% for homes in Toronto compared to last month.

The condo market still remains well supplied with approximately 6100 active listings as of September 30th, 2024. This means that there are ample options for condo buyers with the potential to negotiate price. Condo sellers should be prepared to be patient and realistic with their price expectations.

Check out the September 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.

For most of us, our home is our biggest investment—so it’s important to protect it, especially from the challenges of Canadian winters. A well-maintained home not only ensures comfort and peace of mind but also helps preserve and even increase its value.

By keeping your home in top condition, you’re setting yourself up for a better return when you decide to sell.

Ready to get started? Click below for your complimentary Fall Home Maintenance Checklist to ensure your home stays in prime condition year-round.

Last Call for Our East Side Food Drive – Thanksgiving Edition! ? October 10, 2024

We’re gearing up for our next East Side Food Drive, and we’d love your support! The need for food in Toronto is urgent. 1 in 10 people now rely on food banks, double from last year.

Let’s come together to make a real impact for our community this Thanksgiving.

Click below for more info on our East Side Food Drive and to sign up to contribute.

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

Thurston Olsen Real Estate Group

Hey Friends!

Well, Summer happened quickly!

We hope that you took some time to enjoy the beautiful weather, time with family and friends, and maybe even a summer vacation!

The TO Group is recharged and ready to take on the Fall real estate market.

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

For those who hold variable rate debt, their shoulders are likely feeling a bit lighter as the Bank of Canada continues to drop its overnight rate. Can you hear the collective sighs?

On September 4th, the Bank of Canada dropped their overnight rate by another quarter point, their 3rd straight rate cut.

It is widely expected that they will make 2 more cuts before the end of the year and further cuts into 2025.

So, what does this mean?

The real estate industry views this as a positive sign going forward and many expect that this will inject some life into the more recent “slumping” market. We’ve already been receiving calls from buyers who had been waiting for their time to get into the market and we feel that this will be a sign of things to come!

While a 0.25% decrease in the overnight rate only results in a monthly savings of approximately $15 per $100,000 borrowed, the biggest immediate impact will be in consumer confidence. The light at the end of the tunnel is finally in view along with lighter debt commitments.

Have you been waiting for a sign? This could be it.

Reach out and let’s have a chat!

With the first week of September in the books, we have already seen increased activity from buyers, more specifically in the freehold market. Some listings that had been hanging around during the summertime are starting to get scooped up.

The condo market remained slow moving with a resale inventory that approached 6000 units at the end of August. There are still some fantastic deals to be had out there. With increasing rent prices and a clearer picture of decreasing borrowing costs, now could be an excellent time to purchase a condo.

TRREB President Jennifer Pearce noted that the Bank of Canada’s recent rate cut on September 4 could boost affordability, particularly for first-time buyers using variable rate mortgages. As mortgage rates are expected to decrease, more first-time buyers may enter the market, especially in the condo sector.

Check out the August 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.

The TO Group loves working with clients looking to upsize from their current home to their dream home.

Whether you’re looking for more space for your growing family, a better school district, or a bigger yard for your favourite furry friend, we can help you achieve your real estate goals!

We’ve put together a handy Upsizing Guide that will help you prepare for your next move.

Want a copy? Just click below and we’ll send you one.

We are looking forward to our next East Side Food Drive – Thanksgiving Edition on October 10, 2024 and would really appreciate your support!

The demand for food in our city is urgent. One in ten people in Toronto are now relying on food banks, twice as many as the year prior. Let’s team up to make a difference!

Click below for more info on our East Side Food Drive and to sign up to contribute.

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 that could use our help, feel free to make an introduction! We promise we’ll make you look good ;)

Thurston Olsen Real Estate Group

Hey Friends!

If you know the TO Group, you know that we are huge sports fans and we find so much inspiration, fun, and meaning in sport.

With the 2024 Paris Olympics being at the forefront of many news outlets, we thought we’d have a bit of fun with this month’s newsletter and make it Olympics inspired!

Let’s take a few minutes to give you a gold medal worthy Real Estate update for August 2024

Toronto Real Estate Market Report: August 2024 – The Olympics of Real Estate

As the world cheers for the athletes at the Olympics, the Toronto real estate market has been having its own games, and July 2024 had some performances worth celebrating!

Let’s dive into the highlights and see how buyers, sellers, and new listings competed in the arena.

Sales Score a Victory In the race for home sales, The City of Toronto reported 1,987 transactions in July 2024, marking a 5.4% increase from July 2023. It seems like the recent cuts in the “interest rate hurdle” by the Bank of Canada gave buyers the extra boost they needed. With two rate cuts back-to-back in June and July, the cost of borrowing has become a little less daunting. Think of it as the wind at the backs of the marathon running buyers, making the path to home ownership a bit smoother.

More Listings, More Choices – A Buyers’ Decathlon New listings soared with 6,074 homes entering the MLS® System in the city of Toronto, an 18.7% jump from last year. This influx of options has been a win for buyers, offering them a smorgasbord of choices. In this decathlon of decisions, they’ve been able to catch a breather and strategize, thanks to a better-supplied market. It’s like having tickets to all of the Olympic events, but you get dibs on the best seats!

The Pricing Bar Remains Steady On The High Jump of Affordability The average price of a home in Toronto remained fairly steady again, up about 2% year-over-year. The average selling price landed at $1,087,436, just a hair up the July 2023 figure of $1,066,184. This is what buyers have been chasing for the last number of years. It’s a delicate balance—think of it as a high jump where the bar is set just right to give everyone a fair shot.

Innovation and Infrastructure – The Torchbearers for the Future ? The Toronto Regional Real Estate Board has been waving the flag for innovative home construction, and Toronto City Council’s recent move to consult on single egress stair requirements for multi-residential buildings up to four storeys is a step in the right direction. It’s like handing the relay baton to builders, encouraging them to create family-friendly, multi-family units. And let’s not forget the much-anticipated Crosstown LRT, set to light the way for better public transit connections, making it easier for everyone to get to the finish line.

The Road Ahead – Ready, Set, Buy! As more buyers lace up their shoes for the race to home ownership, the current surplus in inventory will keep prices relatively flat. But as this inventory is gradually absorbed, expect market conditions to tighten, and prices to potentially rise again. Will it be a marathon or a sprint to increased prices? We’ll stand by watching to see who wins the race.

So, whether you’re buying, selling, or just cheering from the sidelines, the Toronto real estate market is an exciting event to watch. Stay tuned for more updates, and may the best home win! ?

Check out the July 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.

Keep Your Home Atop The Podium – Exclusive Offer For Professional Summer Photography!

You never know when your next dream home will pop up. When it does, you want your current home to be in gold medal shape! But what if it’s winter, and your beautiful yard is hidden under snow and ice? Show potential buyers how lucky they can be to own such a luscious oasis with vibrant summer photos! ?

When selling in the Fall or Winter, it can be advantageous to provide potential buyers with professional exterior photos that showcase your home in its full summer glory. This will make your home stand out and highlight its year-round appeal.

Don’t Miss Out on This Golden Opportunity!

If you are considering selling your home in the upcoming Fall or Winter, take advantage of this great offer, which is part of our listing service. Reach out for more info. *Terms and conditions apply.

We’re Here To Be Of Service To You And Your People!

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 that could use our help, feel free to make an introduction! We promise we’ll make you look good ?