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!
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
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!
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
August 2024 Market Report
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 ?
June 2024 Market Report
Hey Friends!
Summer is almost here!
Summer just happens to be the favourite season for the TO Group.
We absolutely love summer and we wait all year for the warm weather and long fun-filled days.
A few of the many things we love about summer:
- Ford and Chris just happen to both have birthdays in July
- Beach Volleyball
- (more) Jays games
- Golf
- An ice cold beer (or two) on one of Toronto’s many patios
Enough about us, let’s take a few minutes to give you another real estate update for June 2024
After what feels like months of waiting, the Bank of Canada has made their first decrease in the overnight lending rate. With a collective sigh of relief from many, the BoC decreased the rate by 0.25% on Wednesday to sit at 4.75%. While the decrease won’t have a huge effect on affordability, it is a sign that things are starting to move in the right direction.
Many expect the initial drop in rates to result in more decreases over the next year or so (possibly adding up to 1.5%).
Generally speaking, there is usually a bit of a delay before we start to see these changes take place in the market, so we’ll see how quickly things unfold over the next few months.
So what does this mean? Well, if you have a variable mortgage for $1,000,000 (using round numbers), your monthly savings will be approximately $155 with the decrease of 0.25% to the overnight rate. It sure doesn’t seem like a lot, but it all adds up! If anything, this will likely start to give buyers a bit more confidence in Toronto real estate and they will likely enter the market. Often when we see more buyers enter the market, we see more competition, and we see price increases.
If you have been waiting to purchase your first home, or an investment property, now could be a great time to put your plan into action! The rate cuts are good news for many and there are currently plenty of great opportunities out there that we don’t expect will last very long.
This could be one of the best times to purchase a home in the last few years. Reach out at any time to chat about what this could mean for you!
As the warm weather comes, the real estate market tends to slow. People start to focus their attention on summer vacations vs. buying their next home. This is exactly what we saw happen as May transitioned into June.
Overall, prices in the city of Toronto stayed relatively flat comparing May 2024 to May 2023, coming in 0.3% lower than the previous year. The biggest change that we saw was the decrease in sales by 17.8% year-over-year. Even more interesting is that new listings in the GTA were up 21% over the same time period, meaning that there were many more options to choose from than what buyers are used to. There is plenty of speculation out there as to why this happened, however the most popular opinion is that buyers are waiting for rates to come down further before going shopping. Many families are getting stretched financially due to inflation and the higher cost of living which doesn’t always align with a move.
We noticed that the freehold market moved more quickly than the condo market, especially if a home was newly renovated and checked all of the boxes. There are plenty of condos to choose from out there, so buyers have ample choice to find their perfect home or investment.
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.
2118 Bloor St W unit 402 is an absolute stunner!
Big, Bright, and Beautiful on Bloor St W! Welcome home to this luxurious retreat at Picnic condos, a boutique building in High Park! This oversized corner unit features a custom floor plan, ample floor to ceiling windows, and is beaming with natural light. The modern kitchen showcases Scavolini cabinetry, high-end european appliances, upgraded gas cooking, and sleek Caesarstone countertops, complete with a breakfast bar. The open concept living space is perfect for entertaining friends and family and includes a walk out to a private balcony featuring a gas line for a BBQ. The Primary retreat boasts a picturesque tree-top view, dual walk through closets with built-in shelving, and a spacious spa-like 4-piece ensuite. Steps to all of the amazing shops, restaurants, cafes on Bloor St W, TTC, and the sprawling 400 acre High Park!
Check out www.2118BloorWest.com for more info and photos!
318 King St E unit 801 is one of the best valued condos in Corktown!
Welcome home to boutique urban living at The King East. This Oversized 1-bedroom condo offers the perfect blend of modern comfort and convenience. Enjoy the open concept living space with approx 9′ ceilings and concrete accents for a super cool loft-style feel. Includes a large bedroom with plenty of closet space and natural light. The modern open concept kitchen features full-sized stainless steel appliances (including a gas range), stone countertops, and floor to ceiling windows. This beautiful residence features 600 square feet of awesome in addition to the spacious balcony – complete with a gas line for a BBQ and stunning city views. Within walking distance to everything you need – Distillery District, St. Lawrence Market, George Brown College, parks, some of the best restaurants in the East end of the city. Multiple options for commuter access and TTC – including the future Ontario Line station that will be completed across the street. Move in and enjoy everything that this beautiful residence has to offer.
Check out www.318king.com for more info and photos!
The Bank of Canada has the following rate announcements scheduled for 2024. Interest rates have an integral effect on how our real estate market operates so it will be interesting to see how things unfold as the announcements come.
- Wednesday, July 24
- Wednesday, September 4
- Wednesday, October 23
- Wednesday, December 11
We are looking forward to some summer fun, but keep in mind that the summer real estate market is often full of opportunity. Let’s chat about what opportunities we can find for you!
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 ;)
Cheers!
Chris and Ford
