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It’s August in Toronto – a time when sandals replace stilettos, out-of-office replies are abundant, and the city collectively hits pause (ideally dockside or poolside). But even in the dog days of summer, the real estate market quietly continues to hum along – albeit at a more relaxed pace.
This month, we’re seeing a continued theme: activity is happening, but it’s measured. Some buyers are moving forward, but largely when they feel they’re getting a “deal.” Well-positioned listings are still selling – but often with longer timelines and more negotiation than we’ve seen in previous summers. The market is not stalled – but it continues to shift, gradually but perceptibly.
Prices across the GTA are down year-over-year according to the latest TRREB data. Active listings, meanwhile, are up significantly, which means buyers have more choice, and sellers have more competition. Homes are spending more time on the market, and expectations are adjusting accordingly.
This is not a market poised for dramatic swings. The Bank of Canada held rates steady in July, and while inflation remains a factor, most experts aren’t forecasting any sudden shifts – up or down – in the near term. In other words: this is the new norm. Balanced. Cautious. And not without opportunity for those who are well-prepared.
For sellers, success in this environment means pricing wisely, presenting beautifully, and embracing the reality that this may take longer than you hoped – but can still yield excellent results. For buyers, this moment offers a rare mix of increased inventory and decreased pressure. While timing the bottom of the market is a game few win, this moment feels like a window of relative calm – and potential value.
So for now – in this moment of balance, calm, and lakeside stillness – it’s about smart timing, sound strategy, and thoughtful planning. The market, like the seasons, always shifts. What goes down will, in time, come back up. If you’ve been thinking about a move, this could be your window. Let’s chat before summer sunsets give way to fall routines.
Measured Momentum Amid Market Adjustment
Central Toronto saw a nearly 10% bump in overall sales activity compared to last July – a promising sign of life in a cautious market. Detached and semi-detached homes led the charge, with semi sales up more than 60% year over year. That said, average prices across all property types were down slightly, and homes are taking a bit longer to sell. With active listings up 9%, buyers have more choice – and are taking their time. In a market that favours preparation and patience, success still comes to those who price thoughtfully and present with polish.
Sales Up, Pressure Down
Sales activity is heating up in the west end, with a 15.5% year-over-year increase and a notable rise across all housing types. Detached and semi-detached homes saw particularly strong gains in volume, though average prices dipped slightly. Buyers have more breathing room this summer: active listings are up over 20%, and homes are spending more time on market. For sellers, that means standing out matters more than ever. For buyers, it’s a rare chance to shop with options – and a little less pressure.
Take a Virtual Tour of Rosedale
We’ve always had a soft spot for Rosedale — and we know we’re not alone. It is, of course, home to The Lobby, and the backdrop for where many of our team live, work, and play.
In the spirit of collaboration (and a shared love for this iconic neighbourhood), we’ve partnered with several other midtown brokerages to showcase the very best of what Rosedale has to offer right now. From exquisite estates to timeless heritage gems, it’s all waiting to be discovered.
Click here to take a virtual Rosedale tour, and don’t hesitate to reach out if something catches your eye – we’re always happy to chat.
The Lobby Has Popped Up in Muskoka!
JUDE × The Lobby
We’ve partnered with Judy Carter of JUDE to bring a curated selection of Lobby treasures to her beautiful boutique, L’Eau Muskoka, located on the docks beside Duke’s General Store in Port Carling.
Whether you’re in the mood for a little lakeside retail therapy or simply want to experience a slice of Rosedale/Summerhill while in cottage country, we’d love to see you.
Now through August 24
L’Eau Muskoka – 2 James Bartleman Way
Can’t make the pop-up? Shop for beautiful treasures from wherever you are:
Unleashing Chromance
On Now at The Lobby
If you haven’t had a chance to experience Unleashing Chromance by Tanmay Parashar, now’s the time to drop by The Lobby.
Rooted in the vibrant cultural fabric of Varanasi, India – where life and death are both expressed through colour – Tanmay’s relationship with chroma began early in fanciful sketches and kaleidoscopic daydreams. Today, his abstract works defy form, inviting us to experience the full emotional spectrum through bold, layered compositions.
Don’t miss your chance to immerse yourself in this moving exploration of colour as emotional language.
HERB Goes Back to School
As the days grow shorter and the nights turn cooler, we know that back-to-school season is right around the corner. As a way of saying thank you to the community, we're taking HERB on the road, popping by neighbouring schools to make those first few days back extra special. If you'd like our team to stop by your child(ren)'s school, reach out and we'll make it happen.
Six Degrees of Heaps Estrin
Refer a Friend and Receive a Gift, On Us
At Heaps Estrin, referrals have always been the highest compliment we can receive. There’s truly no greater testament to our work than when someone places their trust in us to support a friend, neighbour, colleague, or family member.
With this in mind, we’re excited to officially launch Six Degrees of Heaps Estrin – a way for us to show our appreciation when you help us grow our community.
When you refer someone who successfully buys or sells a home with us – whether in Toronto, across Canada, or anywhere in the world – you’ll receive a gift card to The Lobby, our signature concept store, as a thank you.
We’ve always believed real estate is about people and connections – and this program is our way of celebrating yours. If you know someone who’s thinking about their next chapter, we’d be honoured to be part of their story.
To make a referral or learn more, visit heapsestrin.com/referral
Thank you for helping us grow our community. It means the world to us.
Get More from Toronto’s Market. We Will Help.
Whether you’re keeping an eye on the activity in your own neighbourhood – or dreaming of a community you’d one day like to call home – we’ve made it easier than ever to stay connected.
Want to track real estate happenings in your community? Set up a profile HERE to receive updates tailored to the areas that matter to you most.
Have questions or need expert advice about your home, your neighbourhood or the market in general? Book an appointment with a member of our team today HERE. Because your best move begins with expert advice.
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