Market Report
TORONTO & REGIONThe foundation of a robust residential resale market is certainty, which in turn is usually associated with economic stability. Unfortunately, the Toronto and Region residential real estate market is in one of the most chaotic, turbulent, economic situations since the equity market meltdown in 2008. This uncertainty was reflected in the Bank of Canada’s decision to hold its overnight rate at 2.75 percent during its meeting in April.
A bank rate reduction would have been welcomed by consumers. As this report will indicate, average sale prices for most property types in the Region, particularly the City of Toronto, remain lofty. A rate cut would have helped with affordability. Mortgage interest rates continue to be elevated – 5 year fixed rates remain over 4 percent. The weak economic numbers, an early response to the tariffs proposed (and in some cases implemented) by the Trump administration, persuaded the Bank of Canada to hold its rate.
There is no doubt that the overall numbers for the April resale market are moribund. Yet within these gloomy numbers are some bright spots that speak to the strength of the Toronto and Region real estate market.
In the March Market Report, it was pointed out that the marketplace was trifurcated between the City of Toronto, the 905 Region, and the condominium apartment marketplace. That trifurcation continues into April.
Condominium apartment sales are the worst performing sector in the Toronto and Region marketplace. In April on a year-over-year basis sales declined by 29.9 percent in the City of Toronto and 31.5 percent in the 905 Region. Prices also declined by 7.3 percent and 6.1 percent, respectively.
The condominium apartment market accounts for 36 percent of all active listings, but interestingly only accounted for 25 percent of all sales. In addition, the average sale price of all condominium apartments reported sold was only $678,048, and $710,724 in the City of Toronto. Clearly factoring condominium apartment sales numbers severely distort the overall numbers, particularly average sale price.
This is nowhere more apparent than in a review of the market performance of detached and semi-detached properties, particularly in the City of Toronto.
All detached properties – on average – in the City of Toronto, sold in only 19 days, at 100 percent of their asking price, and at an average sale price of $1,700,710. The numbers in the 905 Region were not as robust. Detached properties sold in 20 days, at 99 percent of their asking price and at an average sale price of $1,324,280. This divergence has been at play since the beginning of the year.
Although semi-detached property sales in the 905 Region performed strongly compared to detached property sales, they could not keep pace with semi-detached property sales in the City of Toronto. In the City of Toronto all semi- detached properties sold in only 14 days, at 107 percent of their asking price, with the average sale price coming in at $1,266,322. In the 905 Region semi-detached properties sold in 16 days, at 104 percent of their asking price, and at an average sale price of $944,934, almost 35 percent less than semi-detached property sales in the City of Toronto.
The trifurcation continues.
Inventory levels are becoming quite elevated. In April alone almost 19,000 new listings hit the market – it should be noted that this number, which can not be dismissed, is deceptive. On average about 40 percent of all “new listings” are re- listed properties, properties that did not sell during their previous list periods. At the end of April there were 27,386 active listings available to buyers, a historically high number. This plethora of choice is causing average prices to slightly soften, and more dramatically in the case of condominium apartment sales.
So where are the bright spots in this marketplace? Firstly, monthly sales numbers have continued to increase since the beginning of the year, with April reporting the highest monthly numbers in 2025. Secondly, the pace of sales-to- list ratios, and average sales prices for detached and semi- detached properties, especially in the City of Toronto, make it clear that demand is strong and inchoate, ready to explode when economic certainty returns and, with the help of the Bank of Canada, affordability improves. The next Bank of Canada meeting is scheduled for June 4th, 2025.
Lastly, and this bright spot is not in April’s numbers but flows from them, is that early May numbers are the strongest the market has produced year-to-date. Following the first full week in May, the market is producing sales that are 20 percent higher than reported sales for the same period in April of this year. Barring further and unexpected geo-political disruptions the resale market, though still historically weak, will continue to improve, moving towards historical norms.
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Thinking about selling your home this year? Before you commit to major renovations, take a step back. You don't always need a full kitchen remodel or a complete overhaul to impress buyers. In fact, some of the most effective upgrades are simple, affordable, and easy to complete and they can still make a meaningful impact on your home's value and appeal.
For the complete story, click here...Why the Right Realtor Brings More Than Just Listings: The Power of Referrals
When you're buying or selling a home, it's easy to focus on square footage, sale price, or mortgage rates. But one of the most overlooked advantages in a real estate transaction is working with a Realtor who has a powerful referral network and knows how to use it.
More...As the days get longer and the weather warms up, spring brings the perfect opportunity to shake off the dust of winter and give your home a fresh start. Whether you're planning to sell or simply want to enjoy a cleaner, more organized space, a thoughtful spring cleaning can work wonders not just for how your home looks, but also for how it feels (and what it's worth).
More...Simple Home Upgrades That Add Real Value Before You Sell
Thinking about selling your home this year? Before you commit to major renovations, take a step back. You don't always need a full kitchen remodel or a complete overhaul to impress buyers. In fact, some of the most effective upgrades are simple, affordable, and easy to complete and they can still make a meaningful impact on your home's value and appeal.
Here are a few smart, low-hassle improvements that consistently deliver a strong return:
Paint for a Fresh, Neutral Look
A fresh coat of paint instantly brightens your home and gives it a clean, move-in-ready feel. Stick to light, neutral tones like soft grays, warm beiges, or crisp whites to help buyers envision their own style in the space.
Upgrade the Lighting
Swapping out dated fixtures for clean, modern lighting can transform the feel of a room. Think simple, stylish pendant lights in the kitchen or a new vanity light in the bathroom. And don't underestimate natural light wash windows and open up curtains for maximum brightness.
Refresh the Kitchen and Bath
You don't need to replace cabinets to make a big impression. Instead, update hardware (think brushed nickel or matte black), swap out tired faucets, and consider resurfacing or painting cabinet doors. A new backsplash or updated countertops like quartz-look laminates can also add polish without a high price tag.
Enhance Curb Appeal
First impressions matter. Simple landscaping fixes like fresh mulch, trimmed hedges, or a pop of color in flower beds go a long way. Repainting or replacing your front door, adding modern house numbers, and installing outdoor lighting can make your home look more welcoming.
Make Small Repairs Now
Buyers notice the little things leaky faucets, squeaky doors, cracked tiles. Taking care of these minor issues shows your home is well maintained and ready for its next chapter.
Update Flooring Where Needed
If your carpets are worn or stained, consider replacing them with a clean, budget-friendly option. In high-traffic areas, upgrading to vinyl plank flooring or laminate can offer a modern look that's durable and easy to clean.
Add Smart Home Features
Features like smart thermostats, video doorbells, or updated smoke detectors are relatively inexpensive and appeal to today's tech-savvy buyers.
Bottom Line:
You don't need to break the bank to get your home ready for the market. Strategic updates and a little elbow grease can make a huge difference in how quickly your home sells and for how much. If you'd like help deciding which upgrades will give you the best return in today's market, I'd be happy to offer guidance or a pre-listing consultation.
Why the Right Realtor Brings More Than Just Listings: The Power of Referrals
When you're buying or selling a home, it's easy to focus on square footage, sale price, or mortgage rates. But one of the most overlooked advantages in a real estate transaction is working with a Realtor who has a powerful referral network and knows how to use it.
A great Realtor doesn't just help you find a house or negotiate a deal. They bring a network of trusted professionals to the table contractors, stagers, lenders, inspectors, lawyers, movers, cleaners, and more. This means less guesswork, fewer headaches, and more peace of mind as you move through what can be a complicated process.
For sellers, that might look like having a go-to home stager who knows exactly how to make your property shine or a local contractor who can handle last-minute touch-ups at a fair price. For buyers, it could mean a preferred mortgage broker who offers better rates, or a lawyer who can fast-track the paperwork so your deal closes on time.
But it doesn't stop there.
The best Realtors also thrive on referrals themselves not just from other professionals, but from past clients who had an outstanding experience. Why does that matter to you? Because agents who grow their business through referrals tend to work harder to earn your trust. They know that every client interaction is a potential recommendation and they treat you accordingly.
This relationship-first approach means you're never treated like a transaction. You're treated like a neighbor, a future referral partner, and someone worth going the extra mile for. In short, it's the difference between working with a salesperson and partnering with a true professional who is fully invested in your success.
Bottom line?
When choosing your Realtor, don't just ask how many homes they've sold. Ask who they know, how they support their clients before and after the sale, and whether their business is built on long-term relationships. A well-connected agent brings more value, more support, and more confidence to your buying or selling experience.
Spring Cleaning Tips to Refresh Your Home
As the days get longer and the weather warms up, spring brings the perfect opportunity to shake off the dust of winter and give your home a fresh start. Whether you're planning to sell or simply want to enjoy a cleaner, more organized space, a thoughtful spring cleaning can work wonders not just for how your home looks, but also for how it feels (and what it's worth).
Start with a Plan
Before diving in, walk through your home with a critical eye. Make a list of areas that need attention especially those that get overlooked during routine cleanings, like baseboards, ceiling fans, behind appliances, and inside cupboards. Having a checklist helps you stay on track and avoid getting overwhelmed.
Declutter Room by Room
Spring cleaning is the perfect time to let go of what you no longer need. Donate gently used items, toss out expired goods, and find smart storage solutions for what stays. Not only does this make your home feel more spacious, but it's a critical first step if you're thinking of putting your home on the market.
Deep Clean the Essentials
Focus on high-traffic areas and surfaces that accumulate grime: kitchen counters, bathroom tiles, windows, floors, and carpets. A sparkling kitchen and spotless bathroom can dramatically improve your home's overall appeal especially to potential buyers.
Don't Forget Curb Appeal
Your home's exterior is the first thing guests and future buyers will see. Clear debris from the yard, clean out gutters, wash windows, and freshen up your front door with a new mat or a pop of color. Even small improvements can boost that all-important first impression.
Tackle Seasonal Maintenance
Spring is also a smart time to handle routine home maintenance. Change HVAC filters, inspect your roof and siding, check for water leaks, and ensure outdoor faucets and sprinkler systems are working properly. Taking care of these now can save you costly repairs down the line.