As quickly as it arrived, summer has flown by. Pencils are being sharpened, lunches are being packed, and there has been a palpable shift in energy, weather, and expectations concerning the Toronto real estate market.

While conditions remained relatively stable over the warmer months, it’s no surprise that many buyers were momentarily preoccupied with all that summer had to offer. However, with fall just around the corner, we expect a renewed focus from buyers, making this the perfect time to start planning your next move.

Riding the Rate Wave
As I write this update, in fact, we are mere moments from having heard the Bank of Canada’s latest rate announcement. As expected, the overnight rate has decreased once again, by (a modest) 25 basis points. Thanks to this steady series of cuts and other positive economic trends, including inflation holding steady at 2.5%, many are predicting that we are very much on track for continued market stability and, ultimately, increased buyer activity – in fact, based on the uptick in our team members’ calls, texts and emails, we are already feeling a surge in buyer interest, anecdotally speaking.

Looking ahead, we anticipate slow but steady improvements across the market. And in other good news, we do not expect any further dips this year or into 2025. In fact, our counterparts in the U.S. are also expected to make their first interest rate cuts, signalling positive momentum on both sides of the border.

Seasonal Strategizing
There are pros and cons to every season when it comes to selling your home, but one thing remains consistent: strong photography always makes an impact. If you are considering a sale over the winter months, let’s connect now to get seasonal photos in place to showcase your home at its best.

As always, we are here to help guide you through the best strategies for your unique needs. If you have questions about your home, neighbourhood, or the market in general, our team of strategic advisors is here to help.

Until then, wishing you a wonderful September full of exciting new beginnings.

Central Toronto Market Spotlight

As we transition into the fall, the Central Toronto market continues to demonstrate both resilience and change. Despite a slight decline in overall transactions, prices in key sectors have seen moderate gains, indicating a stable and balanced market in the city’s central core. Detached homes saw a healthy 6% increase in average sale price, and while overall sales have dipped slightly year-over-year, the increase in active listings (+47%) presents great opportunities for buyers looking for more options.

For sellers, longer days on market mean that strategic preparation and pricing are essential to stand out and attract the right buyers. Overall, we anticipate slow but steady improvements moving forward, with no further dips expected this year or into 2025.

If you’re considering a move or would like to discuss how to best navigate these dynamic conditions, we’re here to help. Please reach out to our team for a personalized strategy tailored to your needs.

NEW ARTIST IN RESIDENCE  |  SEPTEMBER 6TH

Pixie

The Lobby is thrilled to announce our newest Artist in Residence: Pixie. We are incredibly honoured to host the long-awaited gallery show for this inspiring homegrown Toronto artist.

About the artist: After stepping away from the art scene following a celebrated tenure in the Canadian art world, Pixie is making a triumphant return with her first-ever showcase of 40 years of work. Her meticulous attention to scale, form, and light is evident throughout her pieces, especially in her sculptures and photographs. Please join us in celebrating her new exhibit: Artist Interrupted on now through to the end of the month.

Artist Interrupted Exhibit starts September 6th

SEPTEMBER 11TH  |  6:00PM

Heritage Homes 101

Passionate about heritage homes? Join us for an exclusive event about these architectural treasures that connect us to our past. Whether you own a heritage property or are simply an admirer, our distinguished panel will offer valuable insights on preserving and enhancing them as well as their importance in Toronto’s rich history.

Location: The Lobby by Heaps Estrin (1120 Yonge St)
Time: Doors open at 6:00 PM, Discussion at 6:30 PM

RSVP to secure your seat!

SEPTEMBER 13TH & 14TH

Heaps Estrin Goes West: Ice Cream Dreams

In celebration of our team’s expansion into the city’s west end, we will be hosting a free ice cream truck pop up in Bloor West Village. Please join us for free ice cream, slushies, popsicles and more on Friday, September 13th, and Saturday, September 14th. It will be a fun way to introduce ourselves, connect, and let you know we’re here for any and all of your real estate needs.

Location: On Beresford Ave next to Neil McLellan Park

Times: Friday, September 13th from 5:00 PM - 7:00 PM
Saturday, September 14th from 1:00 PM - 3:00 PM

SEPTEMBER 21ST  |  2:00PM - 3:30PM

Walking Tour: Cabbagetown

Join Heaps Estrin's in-house heritage expert and real estate agent extraordinaire, Alex Corey, for a walking tour of Cabbagetown, one of Toronto's most storied neighbourhoods with over 150 years of rich history. This tour will focus on the southern portion of Cabbagetown, exploring the impact of medicine, hospitals and social housing on the neighbourhood, as well as some of the beautiful houses that line its streets.

Location: 1 Metcalfe Street
Time: 2:00 PM - 3:30 PM

RSVP to reserve your spot!

Beyond The Blueprints | Episode 4

Tania Bartolotto

We’re excited to share that the latest episode of Beyond the Blueprints is now live! In this episode, Cailey sits down with Tania Bortolotto of Bortolotto Architects inside one of her most iconic designs, the Bezier Curve House in Lawrence Park. They discuss how clients inspire design, the balance between creativity and leadership, and the unique challenges of being a working mother in both architecture and business.

 

 

Every Thursday 2:00PM - 7:00PM

Neighbourhood Farmer's Market
at The Lobby

Join us every Thursday at The Lobby Patio from 2:00PM to 7:00PM for our weekly farmer’s market. Delight in the wonders of a farm-to-table experience in the heart of midtown Toronto, thanks to the incredible seasonal selections of organic produce from Loco Field Farms.

Issue 04, Fall 2024 – Coming this Month!

BEYOND Magazine

Keep an eye on your mailboxes for the fourth edition of our semi-annual in-house publication, BEYOND. In this issue, we explore how AI is shaping Toronto’s future, we take a tour of Cailey's stunning heritage home renovation, and we dive into the history of private clubs in the city—plus so much more. We think you’ll agree it’s our best issue yet!

Meet Your New Favourite Online Shopping Destination:

The Lobby’s New Website!

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

1414 Bayview

Move In This Fall

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.

11 Thornwood Rd

50 Amelia St

69 Bayview Ridge

Montreal House (Calgary)

108 Stratford Cres

1 Strathgowan Ave PH2

55 Valecrest Dr

171 Beechwood Ave

184 Lippincott St

14, 16 & 17 Skey Ln

14 Brookfield Rd

177A Highbourne Rd

36 Hazelton Ave #3D

1 Le May Road

16 Gormley Ave

384 Indian Grove

40 Oaklands Ave #337

2225 Miriam Dr

18-20 Burden's Point

32 Davenport Rd #603

116 George St  #N1109

4566 Harwood Road

48 Shaftesbury Avenue

15 Heathbridge Park

 

62 St Nicholas Street

105 Heath Street W #5

21 Rumsey Road

120 Dallimore Cir #209

 

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