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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.

For the last couple of years, buyers have had something they almost never get in Toronto real estate. Time. Time to think. Time to negotiate. Time to sleep on it. Time to go back for a second showing. Time to compare one property against another. And in many cases, that patience has paid off. But I’m starting to wonder how much longer buyers will have quite this much breathing room. The latest July numbers from TRREB are interesting because they show a market that is not quite as simple as the headlines might suggest. GTA home sales were almost flat compared to July of last year, down just 0.9%. But new listings dropped by 17.8%. The average selling price was $1,003,956, down 4.5% compared to July 2025. So prices are still lower than they were a year ago. But fewer new properties are coming onto the market. That’s the part I think buyers need to pay attention to. This does not mean the market has suddenly turned hot again. It does not mean bidding wars are back everywhere. It does not mean buyers should panic or rush into the wrong property. But it does mean the balance may be shifting. When sales hold relatively steady but new listings fall, buyers can start to lose some of the choice they had before. And when buyers have fewer good options, their negotiating power can begin to shrink. We are already seeing how different one property can be from another. A well-priced house in a desirable neighbourhood can still attract plenty of attention. A condo that is priced realistically can sell. But a property that is still priced as though it is 2021 or 2022 can sit for weeks, sometimes months. That is why this market is so nuanced. It is not simply a buyer’s market or a seller’s market. It depends on the property type, the neighbourhood, the price point, the condition, the building, and how much competition is currently available. Condos are still one of the more interesting parts of the market right now. There is still choice. There is still room to negotiate. And for first-time buyers or downsizers, there are opportunities today that would have been very difficult to find a few years ago. But even there, the best value does not always sit around forever. The mistake some buyers make is assuming that because the overall market has been soft, every property is automatically overpriced and every seller will take a huge discount. That is not always the case. There is a big difference between a property that is overpriced and one that is simply good value in a softer market. So if you are a buyer, the question is not, “Should I rush?” The better question is, “Am I prepared?” Do you know what good value looks like in the neighbourhoods you are considering? Do you know which buildings have reasonable maintenance fees? Do you know which layouts will be easier to resell in five or ten years? Do you know when to negotiate hard and when to move quickly? Because the opportunity in this market is not just that prices are lower. The opportunity is that thoughtful buyers still have room to make smart decisions before everyone else feels confident again. And if you are a seller, the message is just as important. Pricing matters more than ever. Buyers are watching closely. They know what else is available. They are not afraid to wait if a property feels overpriced. But when something is positioned properly from the beginning, there are still buyers out there. The market rarely announces when it is changing. It usually shifts quietly. First, a few more showings. Then, fewer competing listings. Then, a good property sells faster than expected. Then, buyers who were waiting suddenly realize they do not have quite as much choice as they thought. We are not in a runaway market. But we may be in a market where the best opportunities are not quite as endless as they felt a few months ago. So the question I would ask is this: Would you rather buy when everyone is confident the market has recovered — or while everyone is still debating whether it has? And don’t forget if you know of anyone that needs to buy or sell, please tell them 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: 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.

Last week we talked about why today’s market may actually present an opportunity for homeowners looking to move. This week, let’s talk about the financing side. Many homeowners assume they have to wait until their mortgage renews before moving. Often, that’s simply not the case. Here are some of the options worth discussing with your mortgage broker. 1. Can you port your mortgage? If you currently have an attractive mortgage rate, you may be able to transfer or “port” that mortgage to your next home. Not every mortgage is portable, but when it is, this can help you keep your existing rate and avoid paying a mortgage penalty. 2. What if your next home costs more? If you’re moving up in price, your lender may offer what’s called a blend-and-extend mortgage. This combines your current mortgage with the additional funds you need at today’s rates, creating one blended interest rate. 3. Should you break your mortgage? Sometimes paying a penalty actually saves money over the long term. Variable-rate mortgages often carry relatively straightforward penalties. Fixed-rate mortgages can be much more expensive to break. This is one of those situations where it’s worth getting advice before making assumptions. 4. What is bridge financing? If you purchase your next home before your current home closes, bridge financing can temporarily provide access to your equity. It’s designed specifically to bridge the gap between two transactions. 5. How can you use your home equity? Many homeowners have built significant equity over the years. That equity may help fund your next down payment or increase your purchasing power. 6. Remember—you still have to qualify. Even if you’re moving your existing mortgage to another property, lenders generally require you to qualify under today’s lending rules. That’s another reason to involve your mortgage broker early. 7. Don’t forget the costs of moving. Repeat buyers often remember the down payment… …but forget about: Planning ahead makes moving far less stressful. The Bottom Line Trying to perfectly time the market is incredibly difficult. Instead, focus on whether the move makes sense for your life and your finances. When those two align, today’s market may offer opportunities that simply didn’t exist a few years ago. If you’re wondering whether it’s the right time for you to move, we’d be happy to sit down, run through the numbers, and build a strategy together. Sometimes that’s all it takes to discover that your next move is much closer than you thought. And 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.

I’ve had the same conversation several times over the past few months. “Davelle, we’d like to move… but we’re waiting until the market gets better.” I understand. Selling your home for less than it may have been worth a few years ago doesn’t feel great. But here’s what many homeowners forget. If you’re buying in the same market, you’re benefiting from lower prices too. In fact, for many move-up buyers, today’s market may be one of the best opportunities we’ve seen in years. Don’t focus only on what you’re selling. Look at what you’re buying. Imagine your condo has declined by $175,000. That feels painful. But if the detached home you’re hoping to buy has fallen by $425,000 over the same period, you’ve actually narrowed the gap by roughly a quarter of a million dollars. That’s the part many people overlook. You’re not just selling in today’s market. You’re buying in it too. Why many homeowners are moving today People don’t move because of the market. They move because life changes. Maybe… Life doesn’t always wait for the “perfect” market. Fortunately, today’s market offers some advantages: That’s why I encourage clients to look at the overall math, not just the sale price of their current home. Buy first or sell first? Another question I hear almost every week. In today’s market, I generally recommend selling first. Why? Because you’ll know exactly: Then you can shop confidently. Could buying first work? Absolutely. But only if your finances comfortably allow you to carry both properties for a period of time. Every family is different, which is why strategy matters. Next week… We’ll dive into the financial side of moving, including: These are questions every homeowner should ask before making their next move. Have questions before then? Give Steve or me a call. We’d be happy to walk through your numbers and help you determine whether moving today makes sense for your situation. And 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.

One Strategy Doesn’t Fit Every Listing This week we took offers on a condo we listed in Roncesvalles, and it was a great reminder that every property needs its own marketing strategy. When we listed our client’s suite at 36 Howard Park, there were already four other condos for sale in the building. None of them were new listings, and all had been sitting on the market for well over a month. In today’s condo market, that’s not unusual. Our client wanted to move on quickly so they could purchase their next home, so we had one goal: make this suite stand out from the competition. After looking at the market, we decided to price the suite well below the competing listings and set an offer date one week later. It was a calculated strategy, and fortunately, it paid off. This is a highly sought-after building in Roncesvalles, just a hop, skip, and a jump from High Park, so we knew there was demand. We just needed to create urgency. The results: Of course, that strategy doesn’t work for every property. A few weeks ago, we listed a luxury condo at 38 Avenue Road in Yorkville. It’s a completely different market. Most of the suites in the building are priced above $2.5 million, and luxury condos typically take much longer to sell. So the question became: How do we generate more exposure? Because the building doesn’t allow public open houses, we reached out to the other agents with listings in the building and proposed a joint REALTOR® open house. The idea was simple. An agent may not make a special trip to see one suite, but if they can view three exceptional suites in one visit, it’s much more worthwhile. By partnering with agents from other brokerages, we also expanded our reach into their networks and databases. In the end, seven agents attended. That may not sound like a huge number, but several of those agents had previously sold units in the building. Getting our listing in front of experienced agents who already know the building is exactly the kind of targeted exposure that can lead to the right buyer. The lesson? There is no one-size-fits-all approach to selling real estate. Every property deserves its own marketing plan based on its price point, location, competition, and buyer profile. The condo market today is still challenging for sellers. Some listings are attracting multiple offers, while others struggle to generate even a handful of showings. That’s why I’ve been telling every condo buyer I speak with the same thing: this is one of the best buying opportunities we’ve seen in years. There is an incredible amount of inventory, sellers are negotiating, and buyers have leverage that simply didn’t exist a few years ago. If you’ve been waiting for the “right time” to buy a condo, this may very well be it. 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: 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.

Remember the foreign buyer ban? I do. A few years ago, foreign buyers were painted as one of the main reasons housing prices were skyrocketing. Then the research came out and showed they actually represented only about 2%–5% of the market. Despite that, the federal government introduced a ban on foreign homebuyers. That ban is scheduled to expire on January 1, 2027. Here’s what’s interesting: nobody in government seems to be talking about it. So it begs the question: what happens when the clock strikes midnight on December 31, 2026? It reminds me a little of December 31, 1999. Remember Y2K? There was widespread panic over what would happen when our computers rolled over to the year 2000. Midnight came… and nothing happened. Cinderella didn’t turn into a pumpkin. I don’t think there’s panic surrounding the foreign buyer ban expiring. If anything, I’m sensing optimism—especially from developers and condo agents like me. While foreign buyers were never a large percentage of the market, having more buyers is rarely a bad thing. Toronto’s condo market could certainly use the extra demand. I assumed this was a topic only real estate insiders were paying attention to, so I was surprised when one of our first-time buyer clients brought it up. He told me he wants to buy before the ban expires. I thought that was pretty savvy thinking. Many foreign buyers purchase condos as investment properties, so if the ban is lifted, entry-level condos could see increased competition. Whether that impact is large or small remains to be seen, but I can certainly understand wanting to get into the market before another group of buyers potentially enters the picture. So why is there so much speculation that the ban will actually expire? From what I’ve been hearing, extending it isn’t as simple as signing another piece of legislation. The government would need to go through a formal consultation process, including publishing proposed changes in the Canada Gazette and allowing time for public feedback. That process is said to take roughly 18 months—and with the current expiry date fast approaching, time is running short. Personally, I’d be happy to see the ban lifted for the condo market, even if it remained in place for other property types. The condo market has been struggling with an oversupply of listings, and for many agents, getting a showing booked these days can feel like pulling teeth. A few more motivated buyers certainly wouldn’t hurt. As I mentioned last week, I was interviewed by The Globe and Mail. Here is a snippet of our conversation: Davelle Morrison, broker with Bosley Real Estate, notes the condo segment in the GTA remains awash in listings with few buyers for smaller one-bedroom units.“In the $500,000 range, it’s crickets,” says Ms. Morrison, adding that some units are not even drawing showings.As a result, Ms. Morrison says, buyers who are willing to look at entry-level units have hefty bargaining power.She worked with one first-time buyer who recently purchased a unit for $364,000 at Jarvis Street and Dundas Street East.The buyer was upfront about having a budget below $400,000, Ms. Morrison adds.“I was shocked at how much I had to show them.”This buyer was very realistic, she adds, unlike people who have trouble deciding because they tend to like units that are just out of reach.“‘Like’ what is actually in your budget,” is her advice.In this case, the buyer purchased a unit with 549 square feet of living space and a balcony in a 10-year-old building.The main selling point, in a segment saturated with units with unappealing layouts, was that it had a true bedroom with a door, Ms. Morrison says.The unit, originally listed in April of 2025 with an asking price of $519,000, went through a series of price cuts until it was listed for $368,000, Ms. Morrison says.The seller was an investor who had purchased the unit from plans. During the time it was listed, a tenant moved out.She counts herself among the many agents who will not show a unit to buyers if tenants are still occupying the space because sometimes they refuse to move out, which can create complications on the closing date.She points to the example of one house she listed in the Leslieville neighbourhood that only had one showing while it was rented.Eventually the tenants did move out, and she is planning to relist the property with a fresh paint job and furniture and décor brought in by a staging company.“If I have buyers who are looking – no matter the price point – I’m not showing it if it is tenanted. You just don’t know that the tenants are going to leave,” Ms. Morrison says.Those condos that do attract interest tend to be larger units in upscale buildings because that is the tranche where many downsizing baby boomers are concentrating their search.Ms. Morrison recently listed a two-bedroom corner unit at 38 Avenue Rd. with an asking price of $2.68-million.Within a couple of days, two buyers booked showings for the unit with 1,845 square feet of living space and an elevator that opens directly into the foyer.She says the unit is out of the price range of many younger aspiring buyers, but the property is more likely to suit a homeowner with a house to sell around the $4-million mark or higher.The building in the Yorkville neighbourhood near Avenue Road and Bloor Street offers valet parking and a concierge, she says, and many buyers are looking for those services at the higher end.Still, condos in that price range have been sitting in the area, she says, as buyers take their time making decisions. Thanks for reading and don’t forget if you need to buy or sell, please think of 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

Let’s talk about headline whiplash. Every morning I read both the Toronto Star and The Globe and Mail. This week, one headline caught my attention: “National Price Forecast for Year Bumped Up.” I then opened The Globe and saw: “CREA Further Downgrades Forecast for Home Sales.” It made me wonder… are they talking about the same real estate market? We’ve all heard the saying that statistics can be used to tell almost any story, and sometimes it certainly feels that way. Later that afternoon, I happened to be interviewed by a Globe and Mail reporter, so I asked how journalists make sense of conflicting reports like these. Their answer was interesting. They explained that some market forecasts originate from real estate companies and are based on reports prepared by those organizations. From a journalist’s perspective, they prefer to rely on the underlying data rather than a press release or marketing report. In journalism school, they were taught to examine the source data first and draw their own conclusions. I thought that was an interesting behind-the-scenes perspective on why we sometimes see very different headlines covering what appears to be the same market. If you’re curious, my interview with The Globe and Mail will appear in next Friday’s Real Estate section. What are we seeing on the ground? The condo market continues to be challenging. Many listings are receiving very few showings, which made this week’s result especially encouraging. We’ve just launched a spectacular luxury suite at 38 Avenue Road in Yorkville—over 1,800 square feet, priced at $2.68 million—and within the first week we’ve already booked two showings. We’ve spent a lot of time preparing this suite for market, and every visit reminds me why this building is so sought after. Your private elevator opens directly into the suite, while the concierge and valet team make everyday living feel more like checking into a five-star hotel than coming home. If you’ve ever wondered what luxury living in Yorkville really feels like, I think you’ll enjoy this one. Click here to watch our video tour of this exceptional residence. And if you’d like to buy or sell, please be sure 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: 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: Beautiful 3-Bedroom Family Home (2 Bettina Pl) Space to spread out. Space to come together. And a backyard that feels like your own private retreat. This beautifully updated family home offers 3 bedrooms, 4 bathrooms, and the kind of thoughtful layout that gives everyone room to breathe. A welcoming living room at the front of the home creates the perfect spot to gather with guests, while the open-concept kitchen, dining, and family room—with cozy gas fireplace—becomes the true heart of the home. 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 Lease: Charming 3-Bedroom Semi-Detached in Davisville Village (22 Martin Crescent) Tucked away on a quiet, family-friendly cul-de-sac in the heart of Davisville Village, this charming 3-bedroom, 2-bathroom semi-detached home offers the perfect Midtown lifestyle. The open-concept living and dining rooms feature a cozy fireplace, while the spacious kitchen includes a bright eat-in area perfect for casual meals and busy mornings.

Last week, I was looking at the June numbers and I found myself thinking about something I keep seeing in real life. The market is not suddenly booming. We are not back to the days where every listing was getting 10 offers and buyers had to make decisions in 20 minutes. But something is quietly shifting. According to TRREB, GTA home sales were up in June compared to last year, while the number of new listings was down. That matters because for the last little while, buyers have felt like they had all the time in the world. There was lots of choice, sellers were nervous, and many buyers assumed that if they waited a little longer, something better would come along. And in some cases, that was true. But when sales start to improve and fewer new listings come to market, the amount of choice can start to shrink. Not overnight. Not dramatically. But enough that buyers who have been sitting on the sidelines may want to start paying attention. The interesting part is that prices are still lower than they were a year ago in many categories. So we have this unusual market where buyers may still have negotiating power, but they may not have unlimited choice for much longer. That is especially true in the condo market. I have been saying for a while that condos are where some of the more interesting opportunities are right now. Not every condo is a deal. Some are still overpriced. Some buildings have too much competition. And buyers are being very selective. But we are also seeing condos that were purchased five or six years ago now coming back to market below what the owner originally paid. That is a tough reality for sellers. But for buyers, especially first-time buyers or downsizers who have been priced out of houses, it is worth asking: at what point does a difficult market for sellers become an opportunity for buyers? The answer, of course, depends on the building, the unit, the maintenance fees, the location, and the long-term resale potential. But this is exactly the kind of market where good advice matters. There is a big difference between buying something because it is cheap and buying something because it is good value. For houses, the story is a little different. Good houses in desirable neighbourhoods are still getting attention, especially when they are priced properly. Buyers may be cautious, but they are not gone. They are just more thoughtful. They want the right house, in the right location, at a price that makes sense. So if you are a buyer, this is not the time to panic. But it may also not be the time to assume that every opportunity will still be sitting there in a few months. And if you are a seller, the message is just as important: pricing still matters. The listings that are getting traction are not necessarily the ones testing the market. They are the ones that are positioned properly from the beginning. The market is still giving buyers room to negotiate. But it is also starting to remind us that conditions can change quietly before everyone notices. Sometimes the best opportunities do not come with a flashing sign. You just have to be paying attention. And if you know of someone that 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: Beautiful Loft-Style Junior 1-Bedroom Condo (508 Wellington Street West #401) Some addresses put you in the city. Others put you at the center of it. Welcome to 508 Wellington, a beautifully furnished loft-style junior one-bedroom in one of Toronto’s most coveted boutique buildings. Soaring ceilings and oversized windows create an airy, light-filled space, while the thoughtfully designed layout makes everyday living feel effortless. For Sale: Beautiful 3-Bedroom Family Home (2 Bettina Pl) Space to spread out. Space to come together. And a backyard that feels like your own private retreat. This beautifully updated family home offers 3 bedrooms, 4 bathrooms, and the kind of thoughtful layout that gives everyone room to breathe. A welcoming living room at the front of the home creates the perfect spot to gather with guests, while the open-concept kitchen, dining, and family room—with cozy gas fireplace—becomes the true heart of the home. 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.

Buying your first home is one of the biggest financial and emotional decisions you will ever make. For most people, it is the largest purchase of their lives. It can feel exciting, overwhelming, and honestly, a little scary. That feeling is completely normal. When you are about to make a major life decision, it is natural to feel nervous. The key is preparation. Whether you are just starting to think about buying, getting ready to speak with a mortgage broker, or actively looking at properties, this guide will walk you through some of the most important things first-time buyers in Toronto should know before taking the next step. Start With Mortgage Pre-Approval One of the first things every first-time buyer should do is get pre-approved by a financial institution or mortgage broker. A mortgage pre-approval helps you understand how much you may be able to spend before you start looking at homes. This is important because there is nothing worse than falling in love with a property only to find out later that the numbers do not work. A pre-approval can help you understand: In Canada, the minimum down payment can start at 5% for homes of $500,000 or less, while higher purchase prices require different minimum down payment calculations. CMHC notes that for homes over $500,000, the minimum down payment is typically 5% on the first $500,000 and 10% on the portion above that amount. Getting pre-approved early gives you clarity and helps you avoid shopping outside your realistic budget. Why a Mortgage Broker Can Be Helpful Many first-time buyers automatically think of going to their bank, especially if their parents have always used that bank. Banks can be a good option, but they are not the only option. A mortgage broker can shop around with different lenders and help you compare mortgage options. This may include major banks, credit unions, monoline lenders, or other mortgage providers. That matters because every buyer’s situation is different. Some lenders may be better for salaried employees with T4 income. Others may be more flexible for entrepreneurs, self-employed buyers, or people with more complex income. A mortgage broker can help you understand which lender is best suited to your situation. They can also help you think through details that first-time buyers may not consider, such as: The right mortgage is not just about the rate. It is also about the structure, flexibility, penalties, and whether it fits your life. Make Sure Your Down Payment Funds Are Liquid Before making an offer, you need to know where your down payment is coming from. Your funds might be in savings, an RRSP, a TFSA, a First Home Savings Account, or other investments. Wherever the money is, make sure you can access it when you need it. This is especially important because once your offer is accepted, you may be expected to provide a deposit quickly, often by bank draft or wire transfer. In many Toronto real estate transactions, that deposit may be due within about 24 hours of acceptance. That means your money cannot be tied up somewhere that takes days to access. If your funds are invested, you may need time to sell those investments and transfer the cash. If your money is with an online-only bank, it may take longer to get a bank draft or complete a wire transfer. Before you make an offer, make sure your deposit funds are: Being financially prepared can make your offer stronger and reduce stress when the right property comes along. Use First-Time Buyer Savings Tools Wisely First-time buyers in Canada may have access to helpful savings programs, including the First Home Savings Account and the Home Buyers’ Plan. The First Home Savings Account, or FHSA, is a registered plan that allows eligible first-time home buyers to save toward a qualifying first home tax-free, subject to contribution and withdrawal rules. CRA states that FHSA contributions are generally deductible and qualifying withdrawals can be tax-free. The Home Buyers’ Plan allows eligible buyers to withdraw funds from their RRSP to buy or build a qualifying home. CRA currently lists the HBP withdrawal limit at $60,000. These programs can be helpful, but they also have rules and deadlines. Before relying on them, speak with your mortgage broker, accountant, or financial advisor so you understand how the funds can be used and when they need to be available. Why Buy Your Own Place? There are many reasons people decide to buy their first home. For some, it is about stability. They want a place where no landlord can give them notice because a family member is moving in or because the property has been sold. For others, it is about lifestyle. They want to paint the walls, decorate the way they like, renovate, have pets, and make the space truly feel like home. For many people, it is also about building long-term equity. When you rent, your monthly payment goes to someone else. When you own, part of your mortgage payment can gradually go toward paying down your principal. In the early years, a larger portion of your payment may go toward interest, but over time, more of it typically goes toward building equity. Owning a home can also create a form of forced savings. Instead of hoping you will invest the difference between renting and owning, your mortgage payment helps you steadily build ownership in an asset over time. Think Long Term Before You Buy Buying your first home should not be treated as a quick short-term move. In many cases, it is best to buy only if you can see yourself staying in the home for several years. Real estate comes with transaction costs, market cycles, legal fees, land transfer tax, moving costs, and selling costs. If you buy and sell too quickly, you may not give yourself enough time to benefit from ownership. A good rule of thumb is to think about whether the home could work for you for the next seven to ten years.

Buying your first home in Toronto is exciting, but it can also feel overwhelming once you start looking at the numbers. Beyond the purchase price, there are several costs first-time buyers need to understand before making an offer. From mortgage pre-approval to land transfer tax, legal fees, deposits, down payments, adjustments, and insurance, knowing what to expect can help you buy with more confidence and avoid unpleasant surprises on closing day. Here are some of the most important costs and financial decisions to keep in mind when buying your first home in Toronto. Start With a Mortgage Broker or Lender One of the best first steps you can take as a first-time home buyer is to speak with a mortgage broker or lender. Before you start seriously looking at properties, you want to know how much you can realistically afford. A mortgage professional can help you understand: A rate hold can be especially helpful if you are worried about interest rates going up. In some cases, a lender may be able to hold a rate for a set period, such as 90 days, while you search for your first home. That can give you more peace of mind while you shop. Consider Working With a Financial Planner Getting approved for a mortgage is one thing. Feeling comfortable with the payments is another. Some first-time buyers choose to work with a financial planner before buying so they can get a clearer picture of their budget. This can help you understand where your money is going, how much you can save, and what monthly mortgage payment would actually feel manageable. The goal is not just to buy a home. The goal is to buy a home without becoming house poor. Before you purchase, it is worth looking carefully at: Avoid Big Financial Changes Before Buying When you are preparing to buy your first home, consistency matters. Your lender wants to see stable income, stable employment, and a clear financial picture. That means this may not be the best time to change jobs, take on new debt, or finance a major purchase. For example, buying or leasing a new car before purchasing a home can affect your mortgage approval. A monthly car payment of $700, $800, or $1,000 can reduce the amount a lender is willing to offer you because it changes your debt ratios. If you are planning to buy your first home soon, be careful before you: These decisions can affect how much mortgage you qualify for and may delay your ability to buy. Understand Land Transfer Tax in Toronto One of the biggest closing costs for Toronto buyers is land transfer tax. In Toronto, buyers generally need to account for both the Ontario provincial land transfer tax and the City of Toronto municipal land transfer tax. The City of Toronto notes that the municipal land transfer tax applies to purchases in Toronto in addition to the provincial land transfer tax. Ontario’s land transfer tax is calculated on a graduated scale. For agreements entered into after November 14, 2016, Ontario lists rates of 0.5% up to $55,000, 1.0% above $55,000 up to $250,000, 1.5% above $250,000 up to $400,000, 2.0% above $400,000, and 2.5% above $2,000,000 where the land contains one or two single-family residences. Toronto has also introduced new graduated municipal land transfer tax rates for high-value residential properties containing one or two single-family residences, effective April 1, 2026. Because land transfer tax depends on the purchase price, it is important to calculate it before you make an offer. Your lawyer will confirm the exact amount owing before closing, but you should have an estimate early in the buying process. First-Time Buyer Rebates Can Help The good news is that first-time home buyers may qualify for rebates. For eligible first-time home buyers, the City of Toronto offers a municipal land transfer tax rebate of up to $4,475. Ontario also provides a first-time homebuyer land transfer tax refund, with the maximum refund listed at $4,000. However, eligibility matters. According to the City of Toronto, to qualify for the municipal rebate, a first-time purchaser must be at least 18 years old, must occupy the home as their principal residence within nine months, cannot have previously owned a home anywhere in the world, and must be a Canadian citizen or permanent resident, subject to the City’s rules. This is where some buyers get caught off guard. If you owned property outside Canada, you may not qualify as a first-time buyer for these rebates. If you are buying with someone else who has owned property before, your rebate may also be affected. If a parent is going on title to help you qualify, that can also change the rebate calculation. Before you rely on any rebate, speak with your lawyer and mortgage professional so you understand exactly what applies to your situation. Land Transfer Tax Cannot Be Rolled Into Your Mortgage One important thing to know is that land transfer tax is paid on closing. It is not typically something you can simply roll into your mortgage. That means you need to have the money available in addition to your deposit and down payment. For many first-time buyers, this is one of the biggest surprises. You may have saved carefully for your down payment, only to realize that land transfer tax, legal fees, moving costs, and adjustments also need to be paid. That is why it is important to budget for closing costs early. Legal Fees and Title Insurance Another cost to prepare for is your lawyer’s fee. Your real estate lawyer helps with the legal side of the transaction, including reviewing documents, handling funds, registering the property, and making sure the closing is completed properly. Legal fees often include title insurance. Title insurance can help protect you if there are certain title-related issues with the property after closing. Your lawyer can explain what is covered and why it is recommended. The exact cost can vary, so ask your lawyer for an estimate