As the crisp air of autumn settles in and the leaves begin their glorious display, Toronto’s real estate market is also undergoing some remarkable changes. After a series of financial and regulatory changes, we are experiencing a noticeable uptick in activity. For the first time in months, we are seeing multiple offers re-emerge on several of our listings, signaling a renewed urgency among buyers.
 
With interest rates continuing their descent, combined with changes to amortization periods, insurance caps and adjustments to the stress test, house hunters are enjoying a boost to their buying power and the stage is set for an increase in both sales volume and, ultimately, prices. This shift presents a unique opportunity for both buyers and sellers.
 
For sellers who have been patiently waiting for the right time to enter the market, this could be the moment you have been hoping for. Jason Mercer, TRREB’s Chief Market Analyst, recently commented: “As borrowing costs gradually improve, we expect more buyers to take advantage of the increased inventory and affordability in the market.”

September's data shows steady growth in sales volume, coupled with an improvement in inventory – particularly in Central Toronto, where properties are once again capturing attention of multiple buyers, stiffening the competition, and making skillful negotiation paramount to securing a successful outcome. That said, there remains a fair amount of inventory – a legacy of the preceding quieter months. Buyers now have more options to choose from, making this an ideal moment to secure a deal before anticipated market shifts in 2025.

For sellers, now is the time to get your property market-ready as demand continues to climb. Buyers, act swiftly to take advantage of your current purchasing power before prices begin to adjust to the new and emerging conditions.
 
Whether you’re buying or selling, our team of strategic advisors is here to guide you through the evolving market conditions. Reach out today to capitalize on the opportunities that this season has to offer.

Central Toronto Market Spotlight

According to September stats, Central Toronto appears to be leading the way in terms of a market rebound, with detached home sales up 10% from last year. Semi-detached homes are also seeing significant momentum, with a 24% rise in sales and a notable 7% increase in average prices. Buyers are seizing the moment, and the competition is heating up, hinting at a busy market ahead as borrowing conditions continue to become more favourable.

West Toronto Market Spotlight

West Toronto saw relatively stable activity in September. Semi-detached homes experienced a 9% increase in sales, though prices saw a slight dip. The condo market performed well, with an 11% increase in sales, offering a timely opportunity for buyers as prices cool. Detached home prices have softened, making this a great time for those looking to secure a property in this coveted area.

We are thrilled to announce that our latest issue of BEYOND is now available, both in print and digital formats. We hope you’ll agree it’s our best one yet. In the spirit of making you feel right at home, our cover story gives readers a glimpse into the transformation of Cailey’s own heritage home in Rosedale. This edition also explores how AI is shaping the future of Toronto and offers a peek into some of the city’s exclusive private members’ clubs.

This week, we’re excited to release the latest episode of our Beyond the Blueprints podcast. In it, Cailey sits down with business leader and philanthropist Wes Hall. From his journey on a plantation in Jamaica, to becoming King of Bay Street, Wes shares his remarkable story. Watch the trailer and stay tuned to our socials for the release of the full episode, coming soon.

Don’t miss the final days of Pixie’s wildly popular exhibition at The Lobby, Artist Interrupted, which runs until October 22nd. Next up, we welcome Zoë Pawlak, who is bringing her distinctive artistic vision to our space for a short time only as she is visiting all the way from the west coast. Her exhibit will open October 24th with an opening night party (RSVP below) and she will also be delivering an artist talk on October 26th. Be sure to pop in before she wraps up at month’s end.

Walking Tour: Deer Park

Alex Corey’s popular Storied Homes Walking Tour continues with the next stop in Deer Park. If you have a passion for Toronto’s architectural history or are simply a fan of this incredible pocket of our city, join us November 9th and be sure to RSVP early, as spots fill up quickly.

Looking for the perfect something for just about anyone on your list, or any occasion in your calendar? The team at The Lobby has got you covered. And if you can’t make it in, be sure to visit their brand new website for all of your impeccably curated gifting and personal shopping needs. www.thelobbybyheapsestrin.com

Final units remaining: Do not miss the opportunity to secure your spot at 1414 Bayview, with units starting at $1M. These 44 meticulously designed residences are on the cusp of completion, ready to redefine Leaside living across eight storeys. With a variety of thoughtful floorplans tailored to meet the demands of modern urban life, set against the serene backdrop of one of Toronto's best neighbourhoods, 1414 Bayview is a testament to luxury living in Leaside.

Contact us today to schedule your exclusive showing and secure your suite at pre-occupancy pricing. Step into your future home this fall.

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