MyRealco

National Day for Truth and Reconciliation

Toronto Home Prices Slip Below $1M
Seeing Toronto’s average home price dip just below the $1M mark—landing at around $993K—will certainly catch the attention of many buyers who have been navigating affordability challenges. While prices are down about 3% from last year, the market is also feeling the pinch of tighter inventory; new listings dropped about 14% to 12,100, meaning fewer options for those searching. Over 5,000 homes traded hands this period—slightly fewer than last year—which can mean increased competition among buyers and, ultimately, continued support for current price levels. From my perspective guiding clients through these shifts, it’s clear that steady mortgage rates and encouraging economic signals are helping some households, even as concerns about future inflation and borrowing costs give others pause. If inventory keeps tightening and prices begin to climb again, we may see buyers moving more decisively—while improved conditions for sellers could prompt more listings to come to market. As always, I focus on strategy and transparency to help my clients navigate these market dynamics with confidence.

ओंटारियो में नई घर बिक्री में 130% की जबरदस्त बढ़ोतरी, लेकिन कंडो बाजार अब भी पीछे Let’s connect and talk about the latest insights in the industry!

Ontario New Housing Shows Optimism
Ontario’s new housing sector is showing encouraging signs of renewed momentum. Recent government actions have sparked increased home sales and a steady flow of new projects being proposed and enrolled, which is always a positive indicator for our market. If you’re curious about how construction trends unfold, enrolment activity offers a useful early glimpse—builders must qualify and enrol units before breaking ground, so it’s one of the first signals I watch when advising clients on new opportunities.

Despite this optimism, it’s important to acknowledge the broader economic context. Insolvencies in Ontario’s residential real estate sector remain higher than usual, which means buyers still face some underlying risks. For those considering a new freehold home, remember: enrolling within 45 days can qualify you for up to $100K in deposit protection and early access to warranty support—a detail I always highlight for clients looking to maximize their security and peace of mind.

The outlook for the rest of the year remains hopeful: we’re anticipating a stronger rebound, a wider selection of quality homes, and improved affordability. As always, my focus is on strategic advice and safeguarding your interests at every stage of the process.

Toronto Starts Fall Short of Target
Toronto's housing starts have dipped 10% compared to last year—a signal that construction activity has slowed in our city’s core. As someone who’s spent over 15 years advising buyers, sellers, and investors across the GTA, I’m always watching these numbers closely. Currently, Toronto is tracking 37 building permits for about 6,600 condominium apartment units where shovels haven’t hit the ground yet. While this pullback may raise some eyebrows, it’s important to remember that many of these projects had their pre-sales well before today’s market cooled. Housing-start data often lags what’s really happening because of the long journey from planning to pre-sales, permits, and then actual construction. So, the headline numbers might not tell the full story—some of the condos in the pipeline could still break ground soon as projects move forward. For my clients, understanding these cycles is key to making informed decisions, and I’m committed to bringing clarity and strategy to every move in our market.

GTA Market Cools as Prices and Sales Ease
As someone who has worked closely with buyers, sellers, and investors across the GTA for over 15 years, I’m always watching the numbers for early signs of market shifts. In Early-Q3, the Greater Toronto Area saw approximately 6,000 home sales—down about 1% year-over-year after a stretch of annual gains, but still up 3% compared to the previous month. The average selling price hovered around $1 million, with the typical-home benchmark dipping roughly 5% from last year. This means buyers have maintained the upper hand on pricing across many GTA neighbourhoods.

When we break it down by housing type, detached sales managed a modest 1% annual rise, while semi-detached, townhouse, and condo apartment sales softened or stayed flat. What really stands out, though, is supply: new listings dropped to about 14,500 (an 18% decline year-over-year), and active listings fell 12% to roughly 26,100—meaning fewer fresh choices for buyers.

With sales now making up a greater share of available listings, we could see negotiations shift if supply continues to tighten. If buyer and seller confidence returns, this might help stabilize prices and create more balanced conditions. My role as a Real Estate Negotiation Expert is to keep clients informed and prepared as the ground shifts, always focused on strategy and transparency to protect your best interests.