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
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 ;)
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 ?
