Spring has finally arrived (cue the patio brunches and blooming trees!), and just like the weather, the Toronto real estate market is slowly starting to warm up. April brought a bit more activity than March, but overall, we’re still seeing fewer home sales than this time last year. Many buyers are playing the waiting game—holding out for lower interest rates and a little more clarity on the economic front.

There’s also been some buzz around Canada’s trade relationship with the U.S. following the recent federal election. If that improves, we could see a boost in consumer confidence and more movement in the market, especially with inventory levels being higher than usual. More supply means more choice for buyers—and a bit more negotiating power, too.

Here’s what the Toronto Regional Real Estate Board (TRREB) reported for April:
5,601 homes sold – down 23.3% from last year
Average price: $1,107,463 – a 4.1% drop year-over-year

Condos, in particular, have seen a shift. Sales were down nearly 30%, and average prices dipped by 6.9%. With a record number of new condo units expected to hit the market this year, we’ll likely see continued price softness in that segment for the time being. Interestingly, many developers are pressing pause on new mid- and high-rise projects due to buyer and investor hesitancy—so while supply is strong now, we may be facing tighter conditions a few years down the road once that pipeline dries up.

As always, if you’re wondering what all of this means for your next move—whether you're upsizing, downsizing, or simply curious—I'm just a call or text away. I’d love to connect and chat about your real estate goals!