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
October 2024 Market Report
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.
Looking to Pay Off Your Mortgage Sooner, Save on Taxes, and Reduce Interest?
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!
Bold Mortgage Reforms to Improve Accessibility to Home Ownership in Canada
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:
- 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.
- 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.
- 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!
What We Are Seeing From the Field
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.
Protect Your Largest Investment: Your Home
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.
LOOKING FORWARD
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
September 2024 Market Report
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.
BANK OF CANADA SLASHES THEIR RATES AGAIN
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!
WHAT WE ARE SEEING FROM THE FIELD
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.
LEVEL UP YOUR LIVING!
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.
LOOKING FORWARD
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 ;)
