Peter See

New Listing!

606 Annland St is ideally located steps away from Frenchman’s Bay Marina, as well as several parks, shops, and restaurants in Bay Ridges.

Live the waterfront lifestyle in a brand new (2023) built home that is minutes from the 401, HWY 2 and the beautiful Millennium Square.

Open House is this Sunday from 1-4pm. Come enjoy some wine and cheese and view this unique stunner!

Not intended to solicit buyers and sellers currently under contract.

Hello,

Here is your market update for September 2025. On September 17th, we saw a rate drop of .25%. The overnight rate is currently 2.5%. The next announcement will be on October 29th.

Across Durham Region, 707 homes were sold in September, with an average sales price of $877,963. This is slightly above last months numbers by approximately $17,000. Unfortunately it is still lower than the sales prices we were seeing earlier in Spring and Summer. Year-over-year, we are seeing a dip of 1.8%.

Home sales are average for this year, but are a signal of the market trending positively as more homebuyers continue to reduce the current inventory. Excluding the more luxury category, inventory across Durham and much of the CLAR region is slowing down, marking a conclusion to the buyer’s market.

Across the region, the average number of days spent on market is 29. This is considerably higher than previous numbers in Spring.

In the GTA, we are seeing a slight softening of sales prices since September considering usual activity this time of year. Compared to September 2024, new home sales are up 8.4% but prices are down 4.7% comparatively. Sales prices month-over-month have been quite stable; there have been no significant jumps in sales prices besides Toronto’s average price being $992,085 in August and $1,089,918 in September. This could be a reflection of more sales activity in the Fall market. For the whole of the GTA, the increase is only 0.2%.

According to TRREB Chief Information Officer Jason Mercer, “Two more 25-basis-point interest rate cuts by the Bank of Canada would see monthly mortgage payments move more in line with homebuyers’ average incomes, further spurring home sales and related economic activity,” suggesting that we could see a balancing market this quarter should another rate drop be announced later this month.

Check out the video tour of my new listing at 606 Annland St in Bay Ridges!

606 Annland St, Pickering Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

I hope everyone had a happy thanksgiving!

Hello!

Here is your market summary for Summer 2025.

Across the GTA, we have noticed a softening in sales prices compared to May 2025 by about 6.2% in July and 8.8% in August. Year-over-year we are seeing a 5% loss compared to sales prices in August 2024. However, sales themselves are up significantly. Sales have nearly doubled since the start of the year (from 3,821 in January to 6,100 in July) and prices haven’t diverged significantly from January numbers. This is hopeful in terms of relative stability across 2025. Average days on market went from 30 in July to 33 in August, likely due to an influx of listings. There are many options for buyers— this is a great opportunity for those thinking of getting into the market.

In Durham Region, we are seeing a similar dip in average sales prices. The average cost of a detached home in Durham has dipped below a million since June. This August marks an 8.9% increase in sales prices year-over-year, and home sales will likely compare to 2022. Uxbridge, Whitby and Pickering have maintained their high barrier to entry. Still, the average cost is low compared to the rest of the GTA and affordability is likely to increase with an additional rate drop; considering the last time the average sales price was in the $800’s, was when the overnight rate was over 4%.

As predicted, due to relative stability in the market, the overnight rate was dropped .25% as of this morning. The current overnight rate is 2.5%. The Bank of Canada would like to motivate home purchases to drive up economic activity. The next rate announcement is on October 29th, 2024.