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
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.
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.
- 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.
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
March 2024 Market Report
Hey Friends!
A lot has happened for the TO group in the last month and we are so excited to share some amazing news with you!
Ford and his lovely partner, Sara welcomed their beautiful baby girl, Olivia into the world on February 17th. She is beyond precious and everyone is so happy to see their family grow (including their dog Teagan who seems to think that Olivia is her baby).
Chris and his beautiful partner, Michelle put on the biggest party of their lives on March 2nd to celebrate their marriage. If you’re trying to imagine what it was like, picture the movie “My Big Fat Greek Wedding”. Lots of people, too much food and drink, and plenty of dancing. They couldn’t be happier.
Enough about us! Let’s take a few minutes to give you another Real Estate update for March 2024.
When we first meet with potential clients, they often tell us that they have been following the real estate market via popular websites and Apps (we won’t share specific App names here!). This is always great news to us as it can be fun working with knowledgeable clients. We also believe in transparency and that everyone should have access to ample real estate data in order to help them make educated decisions, which these sources can help accomplish.
For those of you who are not familiar with these Apps, they essentially act as a property database which show a variety of sales data, including sale dates, listing and sale prices, pictures from current or previous listings, and estimated sale prices.
These are all great tools, but only when they work properly. The Estimate tools are where we would suggest you use caution, as it can often be incorrect…like, way off! We saw a home the other day where the Estimate tool valued the property at $1,075,000 and it sold on the open market at $1,431,000. We saw the house in person and it had one of those special feels to it that you can’t often quantify on a spec sheet or in a photo and we expected it to sell for what it did.
If Toronto was a place where all 3 bedroom, 2 bathroom, semi-detached homes, with 1 car parking were the exact same, then the estimate tool would work quite well! The fact of the matter is that all houses in our city are different, they have different levels of finishes, different upgrades, and different feels. Not all of these things can be accurately measured by an algorithm. There is so much more data that us (real human) Realtors use when estimating values.
This is where we come in! We are immersed in the Toronto market 24/7. We are constantly viewing properties, we have our finger on the pulse of the action, we have tools for measuring bidding activity and tools that provide us with showing activity, among many other tools. Plus, we all gossip with each other about the activity we get on our listings, so we have a leg up there as well ;)
That’s the end of our rant for this month. To re-cap, we think that these Apps are a great tool if you want to check out photos of a new listing, or check out what a neighbouring home sold for, but if you want to know the TRUE value of your home, then please consult a professional (that means us).
Sales and showing activity are definitely picking up in the city of Toronto which is welcome news for most homeowners. When comparing the home values to last February, the numbers look relatively flat, however if we compare them to last month, January 2024, we see some positive increases which is a sign of buyer confidence returning to the market. For all home types in the city of Toronto, the average price increased by 11.7% comparing February to January.
The freehold market (detached/semi-detached/row houses) in the city of Toronto seems to be getting the most attention from eager home buyers with line ups at open houses, plenty of showings, and multiple offers on many properties listed for sale.
The condo market hasn’t yet seen the same activity as the freehold market, but through our experience it’s only a matter of time until the activity from the freehold market flows towards the condo 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.
March Break is here! Hopefully some of you are enjoying it somewhere warm with your families.
If you’ve chosen to stay in the city, here are a couple of ideas to keep you busy in case you were looking for something to do.
An East End favourite is back – the winter warming stations! Grab a coffee and go for a stroll down along the beach and check out some cool art installations to reimagine the lifeguard stations put on by the international design and art community. More info on the event can be viewed here.
A quick reminder that we still have a limited supply of tickets for the Toronto Home Show, taking place from March 8-10 & 13-17, 2024. If this is of interest, we would like to offer you the exclusive RE/MAX VIP Program at the show! Please send us a message and we’d be happy to get you some tickets.
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 ;)
JUST LISTED!
1584 Dundas St E
Welcome Home To This Beautiful Residence In The Heart Of Leslieville! Step Inside, And You’ll Immediately Notice The Spaciousness That Sets This Home Apart. The Wide Layout Provides A Sense Of Openness And Airiness That’s Truly Inviting.
The Main Living Area Boasts An Abundance Of Natural Light And Includes A Well-Appointed Open Concept Living/Dining Area Which Is The Perfect Space To Entertain.
The Functional Kitchen Features Sleek Appliances, Views Of The Park, And A Walk Out To A Low Maintenance Deck And Private Perennial Garden.
Two Generously Sized Bedrooms Offer Soaring Vaulted Ceilings For An Airy Feel. The Thoughtfully Finished Basement Includes Ample Space For Movie Nights, A Kids Play Area, Plenty Of Storage, And Features A Hideaway Recording Booth! The Lower Level Also Boasts A Renovated 2nd Bathroom Complete With A Soaker Tub.
Steps To Greenwood Park For All Of Your Recreational Needs – Baseball/Soccer Fields, Skating Rink, Dog Park, And The Leslieville Farmer’s Market!
