Latest Blog Posts

April Showed the Usual Spring Boost… But It’s Still Quieter Than Last Year

Posted by Paul Lee on May 08, 2025

As expected, spring brought a bit more action to the market compared to March. More homes were sold in ...

Royal LePage Q1 2025 Market Update: What’s Happening in Canada’s Real Estate Market in Early 2025

Posted by Paul Lee on Apr 21, 2025

The Canadian housing market started 2025 on two very different paths—some areas are heating up, while ...

Bank of Canada Keeps Interest Rate Steady at 2.75%

Posted by Paul Lee on Apr 16, 2025

The Bank of Canada has decided to keep its main interest rate at 2.75%, as concerns about global trade ...

Toronto Real Estate Market Update: March 2025 Shows Signs of Affordability, But Buyers Remain Cautious

Posted by Paul Lee on Apr 07, 2025

March 2025 brought a mix of positive news and continued caution to the Greater Toronto Area (GTA) real ...

Toronto Real Estate Market Shift: February 2025 Update & Insights

Posted by Paul Lee on Mar 20, 2025

If you’ve been watching the Toronto real estate market, you know things are shifting. February 2025 was ...

Bank of Canada Cuts Interest Rates to 2.75%—What You Need to Know About This New Cut

Posted by Paul Lee on Mar 17, 2025

The Bank of Canada has lowered its key interest rate by 25 basis points, bringing it down to 2.75%. This ...

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Bank of Canada Keeps Interest Rate Steady at 2.75%

The Bank of Canada has decided to keep its main interest rate at 2.75%, as concerns about global trade and economic uncertainty continue to grow.

A big reason for the cautious approach? Ongoing trade tensions, especially coming from the U.S., have made the economic outlook unpredictable. Depending on how things play out, Canada could either stay on a steady path—or face a recession if trade conflicts drag on.

BOC is Considering Two Possible Scenarios Ahead

Scenario 1: If tariffs stay limited, Canada’s economy may slow temporarily, but inflation will stay close to the 2% target.

Scenario 2: If tensions escalate, we could see a recession in Canada with inflation possibly rising above 3% next year.

There’s no clear path forward yet, and a lot depends on decisions made outside of Canada.

What’s Happening Globally?

  • In the U.S., growth is slowing, and inflation worries are rising.

  • In Europe, growth remains weak.

  • China was doing well but is starting to cool down.

  • Markets everywhere are shaky due to constant tariff changes and uncertainty.

  • Oil prices have dropped, signaling weaker global growth.

What’s Canada’s Situation?

The economy is showing signs of slowing down:

  • People and businesses are spending less.

  • Hiring is slowing, and March saw a drop in employment.

  • Inflation was 2.3% in March, but expected to dip a bit due to lower oil prices and the removal of the carbon tax. Still, higher prices may come back due to tariffs and supply issues.

Looking Forward

The Bank of Canada says it’s staying cautious. They want to support economic growth while keeping inflation under control. They’ll keep an eye on how rising costs, weaker demand, and changing expectations affect things over time.

Check out the Bank of Canada's recent policy rate release here.

The Bank’s next interest rate announcement is set for June 4, 2025, and we’ll get another full economic update in July.

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New property listed in Markham

I have listed a new property at 6 Aileen Lewis Court in York. See details here

Markham Heritage Estates Masterpiece! *Markham Village* Stunning Custom Estate On Private Court on .52 Acre Professionally Landscaped Lot (23'), Complete To The Studs Restoration, Renovation, With Additions. *3 Car Garage With Coach House Studio / Loft With Kitchenette and Washroom*. Many Recent Upgrades With No Expense Spared. Features All Modern Luxuries While Maintaining Original Character and Charm. Dream Chefs Kitchen With Large Centre Island With Top Of The Line Appliances. Gorgeous *Vaulted and Beamed Ceilings * In Living Room, Family Room, Master Bedroom, and Coach House! Extensive Millwork, Spa Like Baths W/ Heated Flrs, 4 Gas fireplaces, *Smart Home* W/Built-In Speakers, Sonos System, Cameras, Cobblestone Drive, Outdoor Kitchen W/BBQ, Island, Interlock Patio (23'), Custom Mudroom, Built-ins In Living (22'), Exterior Paint (24'). Over 5400sf Of Luxury Living Space. Fantastic Location Close To GO Station, Malls, Shopping *High Ranking Schools*

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Quick Insights: Market Snapshot March 2025

March 2025 saw a continued shift toward buyer advantage in the GTA real estate market. Home sales dropped 23.1% compared to last year, while new listings surged by 28.6%, giving buyers more choice and negotiation power. The average selling price came in at $1.09M, down 2.5% year-over-year, with the MLS® HPI benchmark also down 3.8%.

Improved affordability—thanks to softer prices and lower borrowing costs—is giving households more breathing room, but economic uncertainty and the upcoming federal election are keeping many buyers cautious. TRREB expects potential rate cuts this spring, which could help boost confidence and activity.

Thinking of making a move? Buyers have more leverage, and sellers need to stay competitive.

📩 Subscribe to our newsletter for full updates, expert insights, and GTA real estate tips delivered straight to your inbox!

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New property listed in Toronto C10

I have listed a new property at 405 125 Redpath Avenue in Toronto. See details here

This one-bedroom and den (can be used as 2nd bed), two-washroom unit is freshly updated and ready to move in. Welcome to The Eglinton built in 2019 by award-winning Menkes. This is a well-managed, luxurious building with friendly staff in a prime location. Steps to shopping, groceries, restaurants, cinema, pubs, schools, Eglinton TTC station, and the new Mt Pleasant Crosstown LRT. The unit boasts one of the best layouts in the building, which maximizes space. The den has a regular door and fits a queen or double bed. Amenities include a 24-hour concierge, gym, billiards lounge, party room, guest suites, media room, kids' playroom, and outdoor terrace. Upgraded premium vinyl flooring (installed in 2025), freshly painted (2025). Heat and water included, tenant pays hydro.

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New property listed in Toronto C10

I have listed a new property at 405 125 Redpath Avenue in Toronto. See details here

This one-bedroom and den (can be used as 2nd bed), two-washroom unit is freshly updated and ready to move in. Welcome to The Eglinton built in 2019 by award-winning Menkes. This is a well-managed, luxurious building with friendly staff in a prime location. Steps to shopping, groceries, restaurants, cinema, pubs, schools, Eglinton TTC station, and the new Mt Pleasant Crosstown LRT. The unit boasts one of the best layouts in the building, which maximizes space. The den has a regular door and fits a queen or double bed. Amenities include a 24-hour concierge, gym, billiards lounge, party room, guest suites, media room, kids' playroom, and outdoor terrace. Upgraded premium vinyl flooring (installed in 2025), freshly painted (2025).

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I have sold a property at 607 676 Sheppard Avenue E in Toronto

I have sold a property at 607 676 Sheppard Avenue E in Toronto on Apr 8, 2025. See details here

Now Vacant And Freshly Painted For The Next Tenant! Luxury Boutique Building In Coveted Bayview Village. This Spacious 1 Bedroom + Den Condo Features 9' High Ceilings Available Only On 6th Floor & Penthouse, Fantastic Open Concept Layout, Amazing Clear South Views Of Downtown & Cn Tower. Tons Of Sunlight! Walk Out To Balcony From Living Room And Bedroom. 2 Washrooms. Walk To Subway, Bayview Village Shopping, Restaurants, Cafes, Parks.. Easy Hwy 401/404. Luxury Finishes Throughout.

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I have sold a property at 2302 238 Simcoe Street in Toronto

I have sold a property at 2302 238 Simcoe Street in Toronto on Mar 4, 2025. See details here

Brand New Unit at Artists Alley, where urban sophistication meets unparalleled convenience! This brand-new, never-lived-in 1-bed, 1-bath condo offers unobstructed city views and a modern, stylish living space. Located in one of downtown Torontos most sought-after areas, just steps from St. Patrick Station, University Avenue hospitals, U of T, OCAD, and the Financial District. With a Walk Score of 100, Transit Score of 100, and Bike Score of 98, everything you need is within easy reach. This unit features integrated appliances, custom shades, and sleek finishes throughout. Ideal for a professional seeking a premier downtown lifestyle. *Locker included*

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Toronto Real Estate Market Update: March 2025 Shows Signs of Affordability, But Buyers Remain Cautious

March 2025 brought a mix of positive news and continued caution to the Greater Toronto Area (GTA) real estate market. While affordability has improved thanks to lower borrowing costs and softer home prices, many buyers are still sitting on the sidelines—waiting for greater economic certainty and more favorable conditions.

Homeownership Gets Slightly More Affordable

Compared to March 2024, homeownership in the GTA became more financially accessible. According to the Toronto Regional Real Estate Board (TRREB), both home prices and borrowing costs declined over the past year, making monthly mortgage payments more manageable for potential buyers.

TRREB President Elechia Barry-Sproule noted that “homeownership has become more affordable over the past 12 months,” and with expected interest rate cuts this spring, affordability may continue to improve. Increased inventory is also giving buyers more options—and more negotiating power.

Prices Down, Listings Up

The average selling price in March 2025 was $1,093,254, a 2.5% decrease compared to the same month last year. Meanwhile, the MLS® Home Price Index Composite benchmark dropped 3.8% year-over-year, pointing to a gradual correction in home values.

On the listing side, sellers were more active. The GTA saw 17,263 new listings hit the market—a 28.6% increase from March 2024. This means buyers now have more selection, which could further ease competition and keep prices from spiking in the short term.

Sales Activity Slows Amid Cautious Optimism

Despite improving affordability, home sales were down by 23.1% year-over-year, with 5,011 transactions recorded through TRREB’s MLS® System in March 2025. Even on a seasonally adjusted basis, sales dipped compared to February.

Why the hesitation?

A lot of it comes down to uncertainty. TRREB Chief Information Officer Jason Mercer pointed out that concerns around job security and broader economic conditions—especially Canada’s trade relationships and the upcoming federal election—are prompting many households to wait and see before making big financial commitments like buying a home.

What This Means for Buyers & Sellers

For Buyers:

If you’re financially ready, this could be a window of opportunity. With more listings and softening prices, you have room to negotiate and find the right fit. And if interest rates drop later this year, you may have the chance to refinance for better terms.

For Sellers:

With more competition on the market, pricing your home strategically is crucial. Presentation matters too—homes that show well tend to sell faster. Work with an agent who understands the nuances of today’s market and can help you stand out.

What Could Shift the Market?

Spring 2025 may bring some momentum back to the market if interest rates begin to fall and if economic confidence improves. According to TRREB CEO John DiMichele, access to affordable housing remains a top priority among Canadians, and government action post-election could play a role in supporting both supply and demand.

In the meantime, the GTA remains a buyer-friendly market—but one that could shift quickly depending on economic and policy developments.

Sign up for our newsletter to receive regular updates, expert insights, and practical tips—whether you’re buying, selling, or just keeping an eye on the market.

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Open House. Open House on Saturday, April 5, 2025 2:00PM - 4:00PM

Please visit our Open House at 6 Aileen Lewis Court in York. See details here

Open House on Saturday, April 5, 2025 2:00PM - 4:00PM

Markham Heritage Estates Masterpiece! *Markham Village* Stunning Custom Estate On Private Court on .52 Acre Professionally Landscaped Lot (23'), Complete To The Studs Restoration, Renovation, With Additions. *3 Car Garage With Coach House Studio / Loft With Kitchenette and Washroom*. Many Recent Upgrades With No Expense Spared. Features All Modern Luxuries While Maintaining Original Character and Charm. Dream Chefs Kitchen With Large Centre Island With Top Of The Line Appliances. Gorgeous *Vaulted and Beamed Ceilings * In Living Room, Family Room, Master Bedroom, and Coach House! Extensive Millwork, Spa Like Baths W/ Heated Flrs, 4 Gas fireplaces, *Smart Home* W/Built-In Speakers, Sonos System, Cameras, Cobblestone Drive, Outdoor Kitchen W/BBQ, Island, Interlock Patio (23'), Custom Mudroom, Built-ins In Living (22'), Exterior Paint (24'). Over 5400sf Of Luxury Living Space. Fantastic Location Close To GO Station, Malls, Shopping *High Ranking Schools*

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Open House. Open House on Saturday, April 5, 2025 2:00PM - 4:00PM

Please visit our Open House at 6 Aileen Lewis Court in York. See details here

Open House on Saturday, April 5, 2025 2:00PM - 4:00PM

Markham Heritage Estates Masterpiece! *Markham Village* Stunning Custom Estate On Private Court on .52 Acre Professionally Landscaped Lot (23'), Complete To The Studs Restoration, Renovation, With Additions. *3 Car Garage With Coach House Studio / Loft With Kitchenette and Washroom*. Many Recent Upgrades With No Expense Spared. Features All Modern Luxuries While Maintaining Original Character and Charm. Dream Chefs Kitchen With Large Centre Island With Top Of The Line Appliances. Gorgeous *Vaulted and Beamed Ceilings * In Living Room, Family Room, Master Bedroom, and Coach House! Extensive Millwork, Spa Like Baths W/ Heated Flrs, 4 Gas fireplaces, *Smart Home* W/Built-In Speakers, Sonos System, Cameras, Cobblestone Drive, Outdoor Kitchen W/BBQ, Island, Interlock Patio (23'), Custom Mudroom, Built-ins In Living (22'), Exterior Paint (24'). Over 5400sf Of Luxury Living Space. Fantastic Location Close To GO Station, Malls, Shopping *High Ranking Schools*

Read

New property listed in Toronto C15

I have listed a new property at 607 676 Sheppard Avenue E in Toronto. See details here

Now Vacant And Freshly Painted For The Next Tenant! Luxury Boutique Building In Coveted Bayview Village. This Spacious 1 Bedroom + Den Condo Features 9' High Ceilings Available Only On 6th Floor & Penthouse, Fantastic Open Concept Layout, Amazing Clear South Views Of Downtown & Cn Tower. Tons Of Sunlight! Walk Out To Balcony From Living Room And Bedroom. 2 Washrooms. Walk To Subway, Bayview Village Shopping, Restaurants, Cafes, Parks.. Easy Hwy 401/404. Luxury Finishes Throughout.

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New property listed in Markham

I have listed a new property at 36 Quail Valley Drive in York. See details here

Nestled In A Peaceful Enclave on Premium Ravine Lot, This Executive Townhouse Has Been Completely Renovated To Elevate Both Style And Comfort. Boasting Approx. 2,284 Sq. Ft. Of Bright, Airy Living Space, This Home Features Brand-New Renovations Including Wide-Plank Grey Hardwood Floors, Smooth Ceilings, Modern Light Fixtures, And Custom Blinds Throughout. New Staircase, Posts, and Pickets Adds To The Homes Luxurious And Contemporary Charm. Natural Light Pours In Through Four New Skylights, While Four Walk-Outs Invite You To Enjoy The Picturesque Ravine Setting From Rear Patio / Backyard, Rear Balcony, and Front Terrace. The Modern Kitchen Is Designed For Both Function And Style, Featuring Granite Countertops, Under Cabinet Lighting, And High End Appliances. The Upper Level Offers Two Brand-New Bathrooms. Two Cozy Gas Fireplaces Add Warmth And Ambiance, The Finished Basement Walks Out To Backyard Patio, And Has Direct Access To 2 Car Garage. Conveniently Located On The Thornhill/North York Border, Just Steps To Public Transit With A Direct Bus To The Subway. Minutes From Hwy 404, 407, And 401, As Well As Top-Rated Schools, Shopping, And Dining.

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This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.