The April showers adage has never felt quite as fitting as it does today as I look out the window while typing these words and the rain is coming down in sheets. It feels appropriate, too, as a metaphor for how the market is behaving right now. TRREB just released the stats for March and the numbers confirm what our team has been experiencing firsthand: the market is springing to life a little more slowly than some were expecting, but, as with the adage and its promise of May flowers, there is much to look forward to in the months ahead.

The quieter start to the spring market can, of course, largely be attributed to the now-familiar prolific interest rate speculation. There has been so much coverage about the anticipated cuts that some have postponed their real estate transactions as they await word from the Bank of Canada (BoC). The next announcement is slated for April 10th and economists are divided as to whether rates will go down or remain status quo a while longer.

The inflation numbers continue to show signs of improvement – most recently slowing to 2.8% – but some experts posit that the BoC will wait until inflation remains consistently below the crucial three percent benchmark for a longer stretch before proceeding with adjusting key interest.

The luxury market has also experienced a quieter-than-usual period. This comes on the heels of several transactions that were moved up to the last quarter of 2023 to get ahead of this year’s Land Transfer Tax (LTT) increase. As with many financial shifts that lead to a cooling-off period, though, buyers have since adjusted to the new landscape and we are beginning to see more movement among that segment of the market, including the return of multiple offers on many of our listings.

Ultimately, what should be considered in the midst of all of this speculation and anticipation is that the market will invariably behave as economic principles dictate and as the cost of borrowing goes down, demand and prices will inevitably rise in kind. All that is to say, for those contemplating a real estate transaction, waiting on rates to move is not necessarily advisable – in fact, there may be advantages to pre-empting the surge of activity that lower rates will no doubt bring.

If you have questions about how best to set yourself up for success under current market conditions, we would love to hear from you.

Central Toronto saw some mixed market activity throughout the month of March. While the number of sales was down overall, the number of new listings went up by 16%, as compared with the same period in 2023. This is likely a signal of the increased activity on the horizon. And while prices for detached homes and condos dipped, semi-detached inventory experienced a modest increase. These varied results can be attributed, at least in part, to a later-than-usual spring launch resulting from an early Easter long weekend, which fell directly on the heels of March Break this year. What all of this means is that we are now stepping into the real season of spring sales. We can likely expect to see more showings, more buyers and faster sales in the weeks and months ahead.

 

New Artist In Residence

Natasha Jowett: Now At The Lobby By Heaps Estrin 

 

Heaps Estrin proudly presents our new artist in residence, Natasha, whose artistic journey interweaves her background in Architecture and Interior Design with her passion for abstract art. Renowned for her serene yet playful creations, Natasha brings her visions to life through a masterful blend of oils and acrylics. 

Visit The Lobby By Heaps Estrin to discover  her work in person.

 

Wednesday, April 17th, 6:30 - 7:30pm

Real Estate Explained:
Luxury Under the Sun

 

Join us at The Lobby By Heaps Estrin to discover your slice of paradise with Real Estate Explained: Luxury Under the Sun. Megan Probst and Michelle Nunez will be on hand, alongside finance expert Jordan Weinberg, for an enlightening session on investing in Florida and the Dominican Republic. Hosted by Cailey Heaps, dive into emerging markets, strategic investments, and financial insights. Enjoy wine, refreshments, and invaluable discussions at this must-attend complimentary event.

 

Friday, April 19th & Saturday, April 20th

Heaps Estrin Blood Drive

Become Part Of Canada's Lifeline. Canadian Blood Services has been saving lives for 25 years, but they can’t do it without our help. Please join us in support of this critical, lifesaving work by participating in the Heaps Estrin Blood Drive. Members of our team will be on hand to donate, lend moral support, and to thank you for making a difference. 

When: April 19th, 11:45am-12:50pm
& April 20th,  11:35am-1:20pm
Where: Canadian Blood Services, Yonge & Bloor
(2 Bloor Street East)

Wednesday, April 24th, 6:30 - 8:30pm

Making Space | A Panel Discussion with Four Powerhouse Female Creatives

Join us at The Lobby By Heaps Estrin for an engaging evening as we bring together four of Toronto’s most inspiring female makers.

Dive into a riveting discussion that promises to explore their creative process, the challenges they’ve overcome, and the local Canadian maker movement through their unique perspectives.

 

Heaps Estrin X Casey House

David's Disco

Our team is incredibly proud to have been among the inaugural sponsors of the first-ever David’s Disco, hosted by our friends at Casey House. This special gala evening, which featured phenomenal performances by Brooke Lynn Hytes and Toronto Kiki Ballroom Alliance, plus tracks from DJ Dancing Phil, was conceived as a tribute to former Casey House resident and patient, David Shannon, who was a tireless champion and relentless advocate for those living with and at risk of HIV. The event – likely just the first of many for years to come – not only serves as a moving testament to David’s legacy, but also raised more than $300,000 in vital funds for Casey House in support of the compassionate, judgement-free health care that the organization provides

 

Beyond Magazine Ed. 3

Featured Article: The Lives Our Homes Hold

By Sarah Hampson (Pg. 10): In the latest edition of BEYOND Magazine, we're thrilled to feature an enlightening article by the acclaimed Sarah Hampson, titled "The Lives Our Homes Hold." In it, Hampson delves into the profound connection we share with our homes, articulating how these spaces are far more than mere structures; they are repositories of our lives' stories, echoing with every heartbeat of joy, sorrow, and the myriad moments in between. Through personal anecdotes and insightful observations, Hampson explores the emotional and spiritual investments we make in our homes, underscoring the notion that moving house ranks among life's most significant transitions.

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Elegance Preserved

By ALEX COREY

Heaps Estrin Real Estate Agent and Architectural Historian  explores South Hill's architectural gems, celebrating the area's enduring beauty and historical significance.

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Beyond Borders

By ALI AMAD

Experts reveal why the GTA stands out as an ideal destination for newcomers, highlighting the abundant opportunities and welcoming community that make it a top destination to start anew.

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Spring Clean

By STEPHANIE MATAS

Maximize your impact in Toronto by donating with intention this spring. Transform your cleanup into a meaningful contribution, supporting local communities and making a real difference.

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Local Love

By STEPHANIE MATAS

Rediscover Toronto's extraordinary facets through hidden gems, from immersive art exhibits and unique dining experiences to serene nature escapes, and fall in love with the city all over again.

 
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1414 Bayview

Last Chance for Pre-occupancy Pricing

Move In This Spring: Dive into an unparalleled opportunity to secure pre-occupancy pricing at 1414 Bayview, starting at just $1.325M. These 44 meticulously designed residences are on the cusp of completion, ready to redefine Leaside living across eight luxurious storeys. With a variety of thoughtful floorplans tailored to meet the demands of modern luxury against the serene backdrop of a classic, distinguished neighbourhood, 1414 Bayview is a testament to a new vision for Leaside by design.

Don't let this chance slip away to claim your piece of this incredible boutique building. Act now to reserve your suite and be part of the transformation. Contact us today for a private appointment and step into your future home this spring.

 
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2781 Yonge St #PH2

233 Inglewood Dr

16 Clarendon Ave

27 St Andrews Gdns

3 Garden Circle

40 Sherbourne St N

14,16 & 17 Skey Lane

327 Rose Park Dr

66 Tranby Ave

48 Shaftesbury Ave

58 Astley Ave

57 Bennington Hts Dr

10 Governors Rd

379 Ellis Park Rd

36 Hazelton Ave #3D

528 Clinton St

102 Airdrie Rd

104 Donlea Drive

255 Heath St E

217 Roslin Ave TH#5

4968 Yonge St #2111

40 Rosehill Ave #401

3 Southvale Dr #502

18 Lower Village #405

88 Charles St E #409

120 Rosedale Valley

70 Roehampton Ave

40 Glen Rd #301

569 King St E #309

2470 Eglinton Ave W

HEAPSESTRIN.COM   |   416.424.4910   |   @HEAPSESTRIN

 

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