Generic Takeaways 💡

Sellers: Be prepared for longer selling times and more competition. Pricing and presentation matter more than ever.

Buyers: There’s a lot of choice and less competition. If you’ve been waiting for a more affordable entry point, now may be a good time to explore.

Renters: Lots of inventory of rental units available across the GTA while the nicest and most spacious units are being rented out very quickly and smaller, cookie-cutter units sitting on the market longer if price is not attractive to prospective tenants.

MARKET UPDATE 🏠

📉 Market Slowdown: Sales Hit 30-Year Low

Even though mortgage rates and home prices have dropped compared to last year, many buyers are holding off. Why? There’s a lot of economic uncertainty: a trade war with the U.S., job losses, and a federal election at the end of the month — making people nervous about making big financial decisions.

Key March 2025 Stats:

• Home sales: 5,011 (↓ 23% year-over-year) — the lowest March sales in over 30 years

• New listings: 17,263 (↑ 29% year-over-year)

• Active listings: 23,462 (↑ 89%) — a new record high for March

• Average price: $1,093,254 — up slightly from February but down 2.5% from last year

With more homes available and fewer buyers, the market has softened, but prices are holding fairly steady for now.

🔍 Buyer & Seller Trends

• Condos under $500K are in demand — sales in that price range rose 40% from last year.

• Luxury low-rise homes ($1.5M–$1.99M) also saw strong monthly growth in sales.

• Toronto outperformed the suburbs — less price drop and stronger demand across all home types.

• Detached homes, semis, and condos all saw fewer sales, with the biggest price declines in the condo market.

Overall, buyers are shifting toward more affordable properties, while sellers aren’t feeling urgent to drop prices — at least not yet.

💰 Bank of Canada Holds Rate at 2.75%

On April 16, the Bank of Canada decided to hold the key interest rate at 2.75%. This follows seven straight cuts since June 2024.

Why the pause?

• A trade war with the U.S. is hurting the economy and shaking confidence.

• 33,000 jobs were lost in March, the biggest monthly loss since early 2022.

• Inflation is at 2.3%, down from earlier this year but still a concern.

The Bank is watching two possible outcomes:

1. If the trade war cools, things may stabilize with slow growth and inflation near 2%.

2. If it worsens, we could see a recession and inflation above 3% next year.

For now, the Bank is walking a fine line — trying to support the economy without letting inflation rise too much.

The next rate announcement comes June 4, 2025.

TWO CENTS 🪙

A Better Canada Starts With Us

As the dust settles from the recent federal election, it’s easy to feel divided. But disagreement doesn’t mean we’re on opposite sides; it just means we care in different ways.

No leader or party has all the answers. And no one vote defines our future. What does shape this country is how we treat one another daily; with respect, empathy, and a shared belief that we can build something better, together.

Let’s move forward not as opponents, but as neighbours. 🇨🇦

Just my two cents.