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.
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