Heaps Estrin's Blog

February… the shortest month that somehow always feels the longest. Whether you find peace on the slopes or by the surf, we hope there’s something bright on the horizon. Meanwhile, our team is gearing up for what promises to be an active spring market, despite uncertainty in the air.

Since our last newsletter, a lot has changed—politically, on both sides of the border, and economically, as markets react to new policies, speculation, and shifting consumer sentiment.

Toronto’s housing market kicked off 2025 with lower-than-expected inventory given how strongly it was performing at the end of the year. That said, listings that did come to market sold well, with multiple offers across all price points—including the luxury segment up to $10 million. However, as we move further into February, uncertainty persists. The threat of a trade war and its potential economic fallout are making some sellers hesitant to list, opting to wait and assess the impact of tariffs before making a move.

On the positive side, we’re seeing buyers return to the market, driven by declining interest rates. This remains a bright spot in an otherwise uncertain landscape and could continue to spur demand in the months ahead. According to Jason Mercer of the Toronto Regional Real Estate Board (TRREB): "A growing number of homebuyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a moderate uptick in average selling prices in 2025."

Amid the uncertainty, one heartening takeaway has been the sense of unity and renewed patriotism this moment is inspiring. From consumers prioritizing Canadian-made products to businesses doubling down on domestic investments, the resilience and adaptability of our market—and our community—continue to shine through.

Looking Ahead
While caution is understandable, positive momentum remains—a reminder that even in times of uncertainty, opportunities exist for those who are prepared. As I so often share with my clients and our team, it is better to lead the market than to follow it. While some sellers may opt to sit on the sidelines, those who act strategically—rather than holding out for the “perfect moment”—often position themselves for the best results. For buyers, lower interest rates present an encouraging entry point, while sellers willing to act strategically may benefit from less competition in the early months of the year.

And as for the economic unpredictability ahead—knowledge is power. The best decisions are made with timely, informed insights from those who understand the nuances of the market.

With a proven track record of navigating evolving market conditions, our team provides the strategic guidance and expertise needed to make informed, confident decisions. Whether you're assessing market trends, exploring financing options, or planning your next move, we’re here to help you stay ahead. If you’d like to explore how these factors might impact your plans, let’s connect.

Warmly,


Central Toronto Market Spotlight

Although somewhat lower than anticipated, the Central Toronto market started 2025 with an influx of new inventory, with increases in both new and active listings. This is providing opportunities for buyers as we move into the early months of the year.

While total sales declined, some segments remained steady. Detached home prices held firm, with the average sale price at $2,377,193—virtually unchanged from last year. Notably, days on market (DOM) for detached homes improved by 10%, and semi-detached homes saw an even greater reduction, signaling a healthy pace of sales for well-positioned properties.

Semi-detached sales saw a strong increase of 22.58%, though the average price dipped ever so slightly (-0.46%). Condo activity remained more cautious, with sales down and prices easing by 2.86%.

As the market adjusts to shifting conditions, well-priced and well-positioned properties continue to attract interest, making it an interesting landscape for both buyers and sellers navigating early 2025.

West Toronto Market Spotlight

The West Toronto market showed resilience in January, with total sales increasing by 5% year-over-year, driven by strong activity in the detached and semi-detached segments. New and active listings were up, adding more inventory to the market and more choices for buyers.

Detached sales grew by 12.87%, with prices holding steady at $1,380,750. The semi-detached segment also performed well, with sales up 15.38%. While the average price dipped by nearly 8%, this may reflect more entry-point buyers entering the market and taking advantage of increased selection and lower borrowing costs. In the condo market, sales declined, but prices saw a 2.79% increase, bringing the average sale price to $651,229.

The bottom line is that West Toronto continues to attract motivated buyers. As we move ahead, increased inventory and continued activity suggests a market with opportunities for both buyers and sellers who are prepared to act strategically.

Beyond the Blueprints, Episode 9 | Melody & Maggie Adhami | Watch Episode
Join Cailey Heaps as she chats with sisters Melody and Maggie Adhami—trailblazing entrepreneurs in tech and e-commerce. Melody, the “Billion Dollar Woman” and “Queen of Apps,” shares her journey as a tech leader and founder of Pollin Fertility. Maggie, the force behind ShopThing, discusses reshaping e-commerce and leading a Deloitte Fast 50 company. They explore early influences, leadership, and balancing innovation, business, and life. Don’t miss this inspiring conversation on entrepreneurship, resilience, and the future of tech.

Julie Amlin at The Lobby | On Now Until March 5th
 If you haven’t yet had the chance to experience our latest Artist in Residence exhibit, now is the perfect time—you won’t want to miss this one. Julie Amlin’s vibrant and intuitive work is currently on display at The Lobby (1120 Yonge Street) until March 5th. Her bold use of colour and playful compositions are the perfect antidote to February’s chill, offering a much-needed infusion of warmth and energy to the season.

A Toronto-based artist and muralist, Julie’s pieces inspire playful reflection and awaken the inner child, blending colour, movement, and life’s nuances to create a sense of magic and presence. Step into a space where recognition meets imagination, and let your creativity continue the unfolding story.

Visit The Lobby and immerse yourself in this breathtaking exhibit before it’s gone!
Have You Caught Up on the Latest Issue of BEYOND? | Read it here
If you haven’t yet explored the newest issue of BEYOND, you’re missing out! This edition features exclusive stories, insights into Toronto’s storied past, its AI-shaped future, and much more. Dive into the digital version today or reach out to us to receive a printed copy.
Stay tuned for our next edition, coming soon to a mailbox (or inbox) near you.