Blog

After 24 years helping Toronto buyers and sellers navigate every kind of market, I’m seeing a familiar challenge resurface: some recent resales—10 in the last period—closed below their original purchase price. For anyone who bought at the peak, it can be unsettling to realize today’s comparable sales don’t always match what you paid. If you’re thinking about your next move, I always recommend starting with one key question: is selling truly the right step for your family, or do you have flexibility to hold or renovate? Remember, selling below your purchase price doesn’t always spell trouble; many owners with enough equity can still repay their mortgage and complete a sale without added stress. I’ve worked with plenty of freehold owners who chose to invest in their home and stay put, especially once they considered the alternative—a potential sale loss, plus another round of land transfer tax. Today, buyers are focused on what your home is worth right now, not its history. Honest pricing and a little empathy go a long way in this market. My approach has always been rooted in education and care, ensuring you’re equipped to make the best decision for your unique situation.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

Every month in Toronto real estate brings its own rhythm, and this period is no exception. The average home price has slipped just below the $1M mark—landing at about $993K, which is roughly 3% lower than this time last year. For many buyers, this dip brings a touch more affordability, though it comes with a twist: we’ve also seen new listings drop by 14% to just over 12,000. That means fewer choices on the market, and with just over 5,000 homes sold (a modest 2% decrease year-over-year), competition for the right property can still be fierce.

Having worked with so many families and investors over my 24 years here, I know how closely everyone watches mortgage conditions and economic signals. The recent stability on those fronts has helped ease some affordability concerns, even as worries about trade and future interest rates linger for some households. If inventory keeps tightening and prices begin to climb, buyers may move more quickly, while sellers could feel more confident bringing their homes to market. Navigating these shifts is all about understanding the city’s unique neighborhoods and reading between the numbers—something I’ve always enjoyed sharing with clients.

Development fees are a hot topic in Toronto real estate, and for good reason. According to a recent national housing agency study, reducing these fees could make about 14% more new residential projects financially viable—a substantial boost for our city’s housing supply. In Toronto, eliminating these charges could help us meet up to half of our stated supply goals. To put it in perspective: Calgary’s development fees for a one-bedroom high-rise run around $4,000, while detached homes are closer to $9,000. Compare that to Vancouver, where similar units face fees from $20,000 up to $33,000.

Of course, these fees do fund essential infrastructure—roads, sewers, the everyday workings of our communities—so a balance is needed. But as someone who’s spent 24 years helping families and investors navigate Toronto’s ever-changing market, I see how lower fees on family-sized homes could make a real difference. Larger new units here are often pricier than comparable resale homes, making it tough for families who need more space. If easing development charges means more viable projects and better options for buyers, that’s a conversation worth having for our city’s future.

After more than two decades working alongside clients in every corner of Toronto, I’ve learned that shifts in the market—like the recent dip in average home prices to just under $1 million (~$993K, about 3% lower than last year)—can open new doors for many buyers. While affordability has improved for some, inventory has tightened as new listings dropped about 14% year-over-year to just over 12,000. That means fewer homes available and less choice, something every buyer feels when searching for the right fit.

Just over 5,000 sales were reported recently, down about 2% year-over-year, and with selection shrinking, competition could heat up and help support prices in the months ahead. While steady mortgage rates and encouraging economic news are helping some households, concerns about future inflation and borrowing costs are keeping others cautious.

In my experience, when buyers sense inventory tightening or prices inching up, they often feel a nudge to act sooner—while sellers may see better conditions and consider listing. Navigating these market turns is about more than numbers; it’s about understanding how each shift shapes your next move and finding a path that fits your life and goals.