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This week, the Bank of Canada increased its policy rate from 2.25% to 2.5%. It is the first rate hike since July 2023. So, with rates moving again, what am I hearing from people? One conversation that keeps coming up is parents wanting to help their adult children buy a home. I speak to many parents who feel they would rather help their children now, when the money could make a real difference, instead of waiting until someday when that money may eventually be passed down as an inheritance. And honestly, I can understand the thinking. If you are in a position to help your child get into the market now, especially when there are so many buying opportunities, it can be a wonderful thing to do. But there are also some very important questions to consider before writing the cheque. Whose name should the property be in? Should the parents be on title? Is the money a gift or a loan? What happens if the child gets married and later separates or divorces? Is the parents’ contribution protected? Those are not questions you want to figure out after the fact. If you are thinking about helping an adult child buy a home, I would strongly suggest speaking with your accountant, estate lawyer, mortgage broker and real estate lawyer before making any decisions. The good news is that we work with professionals who can help answer these questions and make sure everything is structured properly from the beginning. And with buyers still having more choice and negotiating power than they did a few years ago, this may be a very interesting time for families who are in a position to help the next generation get started. If this is something you have been thinking about, please reach out. We would be happy to help you start the conversation and connect you with the right experts. And if you’re looking to buy or sell, please call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Lease: Bright 1+1 Bedroom Condo in Queen West (15 Beverley St #503) Queen West has always been one of Toronto’s coolest neighbourhoods, and this suite puts you right in the heart of it all.Bright, spacious and designed for downtown living, the real showstopper is the oversized terrace – bigger than some downtown apartments! For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

Well, now that we know Alberta will be staying with us in Canada, our next big question is: who will be mayor of Toronto after Monday? The latest polls show the race is very close, so Monday night could be quite the nail-biter. But there’s another date I’m watching next week too. The Bank of Canada makes its next interest rate announcement on October 28. This week at our sales meeting, Outline Financial gave us an update on mortgages and where rates could be headed. Their presentation had one very practical takeaway for anyone thinking about buying a home in the next few months: Don’t wait to talk to your mortgage broker. The current expectation is that rates could increase before the end of the year. No one has a crystal ball, of course, but if you’re thinking about buying, now may be a good time to ask your mortgage broker about getting a rate hold. That way, you can continue looking for the right home knowing you’ve protected today’s rate if rates move higher. One other number caught my attention. Mortgage arrears in Ontario have risen to 0.34%, their highest level in more than 15 years. That sounds alarming until you put it into perspective. In the UK, the rate of mortgages in arrears is approximately 0.64%, while in the U.S. it is about 2.06%. Outline Financial’s presentation also points out that Canadian mortgage arrears remain significantly lower than both the U.S. and the UK. So yes, more Ontario homeowners are falling behind than we were seeing a few years ago, but 0.34% is still a relatively small percentage of all mortgages. Another interesting change is the type of mortgages people are choosing. With the gap between fixed and variable rates widening, more borrowers have been choosing variable-rate mortgages. According to the numbers Outline shared with us, variable mortgages accounted for about 41% of new mortgage activity in July, up from about 29% in March. That doesn’t mean variable is right for everyone. Your mortgage choice should depend on your own finances, comfort level and plans. But it does show how quickly things can change. And that’s probably the biggest takeaway for buyers right now. If you’re hoping to have a new home in time for the holidays, get your financing organized before you find the house. Know what you can comfortably afford, speak to your mortgage broker and find out whether a rate hold makes sense for you. Then, when the right place comes along, you’re ready to act. As always, if you’re thinking about buying or selling, just call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Lease: Bright 1+1 Bedroom Condo in Queen West (15 Beverley St #503) Queen West has always been one of Toronto’s coolest neighbourhoods, and this suite puts you right in the heart of it all.Bright, spacious and designed for downtown living, the real showstopper is the oversized terrace – bigger than some downtown apartments! For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

I think the answer is different for everyone. For me, walkability is a big one. I want to be able to walk to restaurants, coffee shops and, most importantly, grocery stores and fruit and veggie markets. We cook a lot at home, so being close to good food shopping really matters to us. I also love living in a city where there is always something interesting to do. One of my friends is on the committee for Boobyball. What is Boobyball, you might ask? It is a fundraiser for Rethink Breast Cancer, an organization that supports younger women impacted by breast cancer. So last night, I attended the fundraiser with friends. This weekend is just as busy. I’m heading to the Menopause Show, my husband and I are celebrating our second wedding anniversary at one of our favourite restaurants, Byblos, and on Sunday afternoon I’m off to see the Alicia Keys musical Hell’s Kitchen with my girlfriends. That is one of the things I love most about living in Toronto. There is always something going on, and there are so many different ways to enjoy the city. We recently started working with a couple who are looking for a new place to live. They told us they are open to most areas of the city, but they have one important requirement: it has to feel like a neighbourhood. They want to be able to walk to groceries, a gym, cafés and restaurants. They want the area around their home to be part of their everyday life. The truth is, Toronto has so many great pockets to discover. Each time we head out to look at homes with them, we try to explore a different neighbourhood so they can get a real sense of what it would be like to live there. One of the best ways to decide whether a neighbourhood is right for you is actually pretty simple: go out for dinner there, then take a walk around afterwards. See how it feels. Can you picture yourself picking up groceries there? Going for coffee on a Saturday morning? Walking to dinner? Heading to the gym without getting in the car? A home matters, of course. But so does everything around it. If you know someone who is trying to find the right neighbourhood to call home, let them know: If you need to buy or sell, just call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

For weeks, we’ve been talking about the fall real estate market as though it was just about to arrive. Well, September has come and gone, and the numbers were surprisingly softer than expected. GTA sales were down 9% compared with last September, but the number that really caught my attention was new listings, which were down 14.4%. The average selling price was $1,006,409, down 5.1% year-over-year. But that doesn’t mean there aren’t buyers out there. We’re seeing them firsthand. Our recent first-time buyer seminars had more than 35 attendees, and our open houses have been busy. Buyers are looking, asking questions and educating themselves. They’re just hesitant to make a move. What’s interesting is that sellers seem hesitant too. And I’ve noticed another sign of the slower market that you definitely won’t find in the monthly statistics. My phone is ringing a lot more. Mortgage brokers, photographers and movers have been reaching out asking for referrals and looking to connect. I honestly can’t remember receiving this volume of prospecting calls before. When real estate sales slow down, it doesn’t just affect buyers, sellers and Realtors. There’s an entire industry connected to real estate transactions, and for many mortgage brokers, photographers, movers and other service providers, Realtors are an important source of business. So, I’ll say it again: if you’re a buyer, you have a huge advantage in today’s market. There is less competition, more time to make decisions and, in many cases, room to negotiate. That doesn’t mean every property is a deal, but it does mean buyers have opportunities they simply didn’t have a few years ago. On a completely different note, I’ve recently learned how to make sourdough bread, so this Thanksgiving I’ll be surprising my family with my homemade sourdough. That’s in addition to my squash soup and Guyanese mac and cheese. It is definitely going to be a weekend of feasting. I hope you and your family have a wonderful Thanksgiving and enjoy a great meal together. And if someone around the table happens to mention that they’re thinking about making a move, you know what to tell them: If you need to buy or sell, just call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

I just read the news that Toronto mayoral candidate Brad Bradford is proposing that, if elected, he will scrap the municipal portion of the Land Transfer Tax on the first $1.1 million of a principal residence. For someone buying a $1.1 million home, that would represent a savings of more than $18,000. That is a huge amount of money for buyers. Toronto home buyers currently face a double Land Transfer Tax when they purchase in the city — one provincial and one municipal — so any relief from that cost would make a real difference. As a real estate agent who hosts first-time buyer sessions, I know how exciting an announcement like this can be for buyers trying to get into the market. In fact, this fall we held two home buyer sessions with more than 40 attendees. The interest from first-time buyers is definitely there, and anything that makes it easier for them to purchase their first home deserves attention. Ever since Toronto introduced its own Land Transfer Tax, it has been a significant additional cost for buyers. For a home priced at $1.1 million, the combined provincial and municipal Land Transfer Tax is $36,950. For an eligible first-time buyer, rebates bring that amount down to $28,475. So you can see why eliminating more than $18,000 of that cost would be meaningful. And here’s the important part: Land Transfer Tax isn’t rolled into your mortgage. It has to be paid at closing, out of pocket. That’s real money buyers need to have available on top of their down payment, legal fees and other closing costs. On a $1.1 million purchase, the minimum down payment alone is approximately $85,000. Add almost $30,000 in Land Transfer Tax for a first-time buyer and you can quickly see how difficult it can be to get into the Toronto market. Bradford’s proposal would apply to principal residences, not investment properties, and he has said it would be retroactive to purchases made beginning September 29. Of course, there is another side to this proposal. The plan is estimated to reduce City of Toronto revenue by approximately $300 million per year. That’s a significant amount of money, and the obvious question becomes: how does the City make up that difference? Bradford has proposed a combination of changes to capital spending, borrowing and other measures to offset the lost revenue. Whether the numbers ultimately work is something that will undoubtedly be debated during the election campaign. But from the perspective of someone who regularly sits across the table from first-time buyers trying to figure out how to come up with their down payment and closing costs, there’s no question that $18,000 is a meaningful amount of money. Toronto’s first-time home buyers could certainly use some help getting into the market. Now we’ll have to see whether this proposal ever becomes reality. And don’t forget if you know of someone who needs to buy or sell, please make sure they call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

Last week I wrote about something I’ve been noticing in the market. The buyers are out there. They’re coming to open houses, attending our first-time buyer seminars, asking questions and watching listings. But many of them still seem hesitant to make an offer. So what are they waiting for? Lower prices? Lower interest rates? More certainty around the economy? Probably a bit of everything. Then I came across a number this week that really caught my attention. 156. That’s how many condo units started construction in the City of Toronto in the first half of this year. Just 156. For comparison, Toronto averaged about 7,000 condo starts a year over the previous decade. Right now, condo buyers have something they haven’t had in a long time: choice, time and negotiating power. Prices are down. Sellers are more flexible. Investors are struggling with cash flow. And developers have responded by pulling back dramatically on new construction. That makes sense today. But what happens a few years from now if we simply haven’t built enough homes? That’s the contradiction I keep coming back to. Buyers are nervous today, but tomorrow’s problem could be lack of supply. I’m not saying buyers should rush out and buy something just because they’re afraid of missing out. But if you’ve been waiting for everything to feel perfectly safe, it may be worth asking yourself a different question. Instead of: What if I buy and prices fall a little more? Maybe ask: What happens if I wait until everyone else feels confident again? Because right now, buyers still have something pretty valuable: Choice. Time. And negotiating power. The question is how long all three last. And if you need to buy and sell, please don’t forget to call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

What Have I Noticed in the Market This Week? Contradictions. We have a fabulous detached house listed in Leslieville right now, and despite a full marketing plan, the number of private showings has been disappointing. What makes it even more puzzling is that more than 30 groups came through our weekend open houses. So where did they go? Why didn’t more of those people come back with their agents for a second look? I wish I had a simple answer. A few people at the open house did mention the lack of parking, and that may be a bigger factor in this market than we initially thought. On offer night, we didn’t receive any offers. When I spoke with other agents in the area who also had homes listed without parking, they were seeing the same thing: fewer showings and little to no offer activity. Meanwhile, another nearby property with parking for two cars received more than 10 offers. Same general market. Very different result. And then there is the other side of what I’m seeing. This week we hosted our second first-time buyer seminar in just two weeks and were pleasantly surprised to have more than 20 people attend. Our seminar two weeks earlier had just under 20 attendees. That tells me something. The buyers are out there. They are curious. They are educating themselves. They are going to open houses. They are asking questions. They are watching prices. They just don’t seem to be in a hurry to make offers. And maybe that is the real story of the market right now. Buyers have not disappeared. They have become much more selective. A few years ago, a buyer might have overlooked something like no parking because they were worried that if they didn’t buy the house, someone else would. Today, they are more comfortable saying, “I like it, but I’m going to keep looking.” That can be frustrating for sellers, but it also gives us valuable information. Features matter more. Presentation matters more. And understanding what today’s buyer is willing to compromise on, and what they are not, matters more than ever. What gives me some optimism is that people are still showing up. Thirty-plus groups at an open house is not a lack of interest. Forty-plus people attending first-time buyer seminars over two weeks is not a lack of interest. It tells me there is a lot of pent-up demand sitting on the sidelines. The question is what will finally make those buyers act. Will it be the right house? A further adjustment in price? More confidence in the economy? Or simply reaching the point where they are tired of waiting? I suspect it will be a little bit of all of the above. And when buyers do decide they are ready, they may discover that the amount of choice is not quite as plentiful as they expected. August actually saw GTA new listings fall 14.1% compared with last year, while sales declined by only 2.1%. So yes, this market is full of contradictions. But that is also what makes it interesting. People are looking. People are learning. People are planning. And eventually, some of those people are going to become buyers. The job right now is to make sure that when they are ready, your property is the one they want. And please don’t forget if you need to buy or sell, please call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 1+1 Bedroom Condo in Midtown, Toronto (225 Merton St #501) Welcome to your own slice of paradise in the heart of Midtown, where the Kay Gardner Beltline Trail is practically your backyard. Morning run? Evening stroll? Taking Fido out for a spin? Just step outside and you’re there. Inside, this spacious one-bedroom-plus-den suite has plenty to love. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once. Sold: 1+1 Bedroom Condo With a View | South Riverdale/Leslieville (625 Queen St E #505) Some homes impress. This one stops you in your tracks. The moment you step inside, your eyes are drawn to the view—a breathtaking, protected western panorama stretching over the Don Valley to the Toronto skyline, with the CN Tower standing proudly in the distance. Day or night, it’s a living work of art you’ll never tire of.

What the Average Price Doesn’t Tell You The latest Toronto real estate headline caught my attention. The average GTA home price dipped below $1 million in August. According to TRREB, the average selling price across the GTA was $993,410 in August, down 2.7% compared to August of last year. Sales were also down slightly, by 2.1%, while new listings fell more sharply, by 14.1%. So yes, technically, the average GTA home price is under $1 million again. But before anyone pops the champagne, let’s talk about what that number actually means. Averages can be helpful, but they can also be misleading. When you hear that the “average home” in the GTA is under $1 million, it does not mean every part of the market suddenly became affordable. It also does not mean every buyer can now find the kind of home they want for less than seven figures. A detached home in Midtown Toronto is not the same market as a one-bedroom condo downtown. A semi in Riverdale is not the same market as a townhouse in the 905. A large, well-laid-out condo with parking and outdoor space is not the same market as a small investor-owned unit in a building with lots of competition. That is why I always hesitate when people ask, “How’s the market?” The real answer is: it depends. It depends on whether you’re buying or selling.It depends on the neighbourhood.It depends on the price point.It depends on how much similar inventory is available at that exact moment. The August numbers are interesting because they tell two stories at once. On one hand, prices are still softer than they were a year ago. That is giving many buyers more room to breathe, especially compared to the frenzied market we saw a few years ago. On the other hand, new listings were down quite a bit compared to last August. So while buyers may still have negotiating power, they may not have endless choice in every neighbourhood or property category. That is where the headline number only gets you so far. If you are a buyer, the average GTA price does not matter nearly as much as what comparable properties are selling for in the neighbourhoods and buildings you are actually considering. If you are a seller, the average GTA price does not tell you what your home is worth. Your value depends on your micro-market: the last few relevant sales, what else is currently listed, how your home presents, and how well it is priced from the beginning. This is especially important heading into the fall market. September is when people tend to get serious again. Buyers come back from summer holidays. Sellers who were waiting for fall begin preparing their homes. Families start thinking about what they want their lives to look like before the end of the year. But this fall may not look the same in every neighbourhood. Some areas may see more inventory. Others may remain tight. Some listings may sit. Others may surprise people. Some condos may offer real opportunity. Some houses may still attract strong interest if they are priced properly. That is why broad headlines can be interesting, but they should never be the whole strategy. The average home price being under $1 million makes for a great headline. But real estate decisions are not made in the average market. They are made one property, one neighbourhood, one building, and one conversation at a time. If you are wondering what the fall market means for your own home, your next purchase, or your investment property, we would be happy to talk it through with you over coffee. And remember if you’d like to buy or sell, please make sure you call Davelle. P.S. TIFF starts this week, which means Toronto is about to have that unmistakable September buzz. Restaurants will be busy, King Street will be full of energy, and for the next 10 days, the city gets to show off a little. It is always a good reminder that in real estate, people are not just buying bedrooms and bathrooms. They are buying the life outside their front door too. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: Renovated 3-Bedroom Detached House in Leslieville (14 Coady Ave) Morning Coffee. Evening Wine. Leslieville Living. This turnkey Leslieville gem checks all the boxes. Beautifully renovated and completely move-in ready, this detached 3-bedroom, 3-bathroom home is designed for easy everyday living and effortless entertaining. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once. Sold: 1+1 Bedroom Condo With a View | South Riverdale/Leslieville (625 Queen St E #505) Some homes impress. This one stops you in your tracks. The moment you step inside, your eyes are drawn to the view—a breathtaking, protected western panorama stretching over the Don Valley to the Toronto skyline, with the CN Tower standing proudly in the distance. Day or night, it’s a living work of art you’ll never tire of.

September Is When Toronto Gets Serious Again So, what’s going to happen in the fall real estate market? If only I had a crystal ball. Every year, September seems to arrive with a different kind of energy. Summer holidays wind down, kids go back to school, routines return, and people start thinking seriously about what they want the rest of the year to look like. In real estate, September often feels much more like the beginning of the year than January does. People who spent the summer thinking about making a move suddenly start having more serious conversations. Buyers who were casually watching listings begin booking showings again. Sellers who were waiting for “the right time” start deciding whether this is the fall they finally make a change. And this year, I’m hearing mixed signals — which, honestly, makes the market even more interesting. I was recently in a mastermind session at work where one of the agents was saying she had reached out to several top Riverdale agents to ask if they had listings coming up this fall. The answer she kept getting was: not many. That is obviously very good news for anyone thinking of listing a home in Riverdale. If there are fewer homes coming to market and buyers are actively watching that neighbourhood, a well-priced listing could get a lot of attention. But then I decided to walk around my own office and ask my colleagues what they had coming up this fall. And I got the opposite answer. Many of them have listings coming out. Some clients are ready to move. Some are downsizing. Some are upsizing. Some are rightsizing. And some are simply tired of sitting on the sidelines waiting for the headlines to give them perfect clarity. They have decided to get on with it. That may be the real theme of this fall. Not certainty. Movement. Spring is usually the busiest real estate market of the year, but fall is typically the second most active. And after a summer where many people were watching, waiting, and wondering what would happen next, I think September will tell us a lot. Will more listings come out?Will buyers who have been waiting finally start making decisions?Will well-priced homes attract more competition?Will condos continue to offer opportunities for buyers?Will sellers adjust to today’s market instead of wishing for yesterday’s prices? Those are the things I’ll be watching. The truth is, there is no single Toronto real estate market right now. Riverdale may have limited inventory. Another neighbourhood may have more choice. A great family home may get immediate attention, while a small condo may need a very different pricing strategy. That is why broad headlines only tell part of the story. What matters most is what is happening in your neighbourhood, your building, your price range, and your category of the market. So if you are wondering whether this fall is the right time to buy or sell, the answer is not the same for everyone. But it may be the right time to start having the conversation. September doesn’t necessarily tell us exactly where the market is going. But it usually tells us who is serious. If you are thinking about making a purchase or sale this fall, we would be happy to talk it through with you over coffee. And remember if you’d like to buy or sell, please make sure you call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: 1+1 Bedroom Condo With a View | South Riverdale/Leslieville (625 Queen St E #505) Some homes impress. This one stops you in your tracks. The moment you step inside, your eyes are drawn to the view—a breathtaking, protected western panorama stretching over the Don Valley to the Toronto skyline, with the CN Tower standing proudly in the distance. Day or night, it’s a living work of art you’ll never tire of. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.

Dare I say it? Summer is almost over. I know the official end of summer is still a few weeks away, but you can feel the shift already. The air is a little cooler. The sun is setting earlier. And, as always seems to happen at this time of year, people are starting to think about what they want the next season of their life to look like. September has always felt a bit like January to me. It is a time of renewal. A time to reset. A time when people join the gym, rethink their routines, and sometimes make much bigger life decisions. Over the past couple of weeks, I’ve started hearing from people who are thinking about downsizing, upsizing, and rightsizing this fall. Some are looking for less maintenance. Some need more space. Some want to be closer to family. Others are simply asking themselves whether their current home still fits the life they want to live. Despite all the unease happening in the world right now, many people we are speaking with are still reevaluating their living situation and considering what changes they want to make. I’ve also noticed another conversation coming up more often lately. I was recently out with friends and, inevitably, the conversation turned to real estate. A friend who works in finance was quite convinced that the market was doomed and that parents and grandparents would no longer be able to help their children or grandchildren buy homes. It is a conversation I seem to be getting pulled into more and more these days. And while I absolutely appreciate that not every parent or grandparent is in a position to help financially, I have also seen the opposite play out many times over the years. Whether it is today, 10 years ago, or 20 years ago, many families have found ways to help the next generation get into the market. According to Statistics Canada, 40.1% of Canadian homeowners are mortgage-free. In other words, roughly four out of 10 homeowners in Canada have paid off their mortgage. That is a significant amount of untapped home equity. For many parents and grandparents, that equity becomes part of the conversation when their children or grandchildren are trying to buy a home. It may not be available to everyone, but it is one of the reasons I am cautious when I hear overly gloomy predictions about the real estate market. The market is changing, yes. But doomed? I don’t believe that. What I do believe is that different parts of the market are behaving very differently. Take the investor market, for example. Owning an investment condo has become much more difficult. Between higher mortgage payments, maintenance fees, property taxes, and softer rents in some areas, the cash flow can be very tight. I recently spoke with someone who is paying about $800 per month out of pocket to cover the costs of a condo they are renting out. I’m seeing it personally as well. We are currently looking for a new tenant for our basement apartment. Our last tenants were paying $1,800 per month. They moved out in July, and I first listed the apartment at $1,650. I have since reduced it to $1,595, and it is still taking time to find the right tenant. So when people talk about the market being challenging, I understand that too. The market is not easy for everyone right now. Sellers need to be realistic. Buyers need to be prepared. Investors need to run the numbers carefully. And anyone thinking about making a move needs advice that is specific to their situation, not based on broad headlines or cocktail-party predictions. That is really the point. There is no one Toronto real estate market right now. There is the market for a family house in a great neighbourhood.There is the market for a small downtown condo.There is the market for investors.There is the market for first-time buyers.There is the market for downsizers. And each one tells a slightly different story. So if this September has you thinking about a change — whether you are considering moving up, moving down, buying your first place, helping a family member, or reassessing an investment property — we would be happy to talk it through with you. Sometimes the best first step is simply a coffee and an honest conversation. And please don’t forget if you need to buy or sell, please call Davelle. My First Home: How to Buy Smart in Toronto Know someone who talks about buying a home “someday”? Forward them a copy of our new My First Home magazine. It covers what to know, where to look, and how to buy smart in Toronto. Want to Make This Market Work for You? As always, if you have questions about the market, or would like an updated home evaluation, we’re here to help. For Sale: 1+1 Bedroom Condo With a View | South Riverdale/Leslieville (625 Queen St E #505) Some homes impress. This one stops you in your tracks. The moment you step inside, your eyes are drawn to the view—a breathtaking, protected western panorama stretching over the Don Valley to the Toronto skyline, with the CN Tower standing proudly in the distance. Day or night, it’s a living work of art you’ll never tire of. For Sale: Luxurious 2-Bedroom Corner Suite in Yorkville, Toronto (38 Avenue Rd #1403) Some homes offer luxury. This one offers peace of mind. Welcome to Suite 1403 at 38 Avenue Road, where every detail has been designed to make life feel effortless. Behind the private direct elevator entrance is an elegant corner residence that offers the rare combination of generous proportions, refined finishes, and exceptional service. For Sale: Bright 1-Bedroom Condo in Corktown, Toronto (60 Tannery Rd #516) Step into a sunlit living and dining space with clean sightlines and effortless flow. The open-concept kitchen keeps you connected – prep dinner, catch your favourite show, and take in the view all at once.