Heaps Estrin's Blog

Happy New Year! As we step into 2025, we are entering a landscape shaped by significant political and economic shifts. Just last week, Prime Minister Trudeau announced his resignation, and, as I write this, we are one week away from the U.S. Presidential inauguration. These political changes have already had an impact on the market, with the Canadian dollar strengthening somewhat in response to Monday’s news.

The year ahead is also expected to bring renewed energy to the real estate sector. Increased consumer confidence, driven by greater buying power, will likely spur market activity. While the post-holiday period is traditionally slower, we anticipate an uptick in momentum by late January, and for the market to reach peak activity from February through April.

For buyers, the current environment offers exciting opportunities. Inventory levels remain healthy, and prices have yet to reflect the anticipated surge in demand. In fact, according to December’s market report, the average selling price for all homes in Toronto was $1,084,692, a slight dip from earlier in the year, reinforcing that buyers still have time to take advantage before the spring market heats up. First-time buyers stand to benefit from recent mortgage regulation changes, which took effect on December 15th. These updates include extended 30-year amortizations and increased insured mortgage limits up to $1.5 million. This combination of favourable conditions makes now an excellent time to enter the market.

Sellers, meanwhile, can look forward to a busier spring. As confidence grows, we anticipate more showings, increased competition among buyers, and shorter sales cycles. The shifting economic and political landscape, while still somewhat undetermined, may provide the spark needed to revitalize the market, creating opportunities for sellers to leverage what many hope will be improving conditions.

We will, of course, continue to monitor the evolving market closely, but signs point to a stronger, more active year in real estate. While there are many reasons for optimism, this is also a time for strategy and planning. If you’re considering buying or selling, our team of strategic advisors is here to help you navigate the changes and make the most of the year ahead.

Warm regards,

Central Toronto Market Spotlight
December brought a mixed performance for the Central Toronto market. Overall sales declined by 8% year-over-year, with dips in sales across all inventory categories compared to the same period last year. However, detached home prices showed resilience, rising by 4% to an average of $2,557,979. Semi-detached home sales dropped by 12%, but their average price edged up 2%, reaching $1,496,584. Condo sales dipped slightly by 3%, while their average price showed a modest 1% increase to $767,516. Despite a slower pace, the market saw a significant 24% increase in new listings, hinting at potential opportunities for buyers in the months ahead.

West Toronto Market Spotlight
In West Toronto, the market displayed some contrasting dynamics in December. Overall sales were down 9% year-over-year, with detached home sales decreasing by 16%. Detached home prices, however, softened slightly by 2%, settling at $1,405,450. Semi-detached home sales rose by 11%, accompanied by a substantial 17% increase in their average price, which reached $1,206,022. Condo sales fell by 21%, though their prices rose 5% to $651,447. With new listings up 19%, the region is seeing more inventory, which may help balance the competitive landscape as we move into the new year.

Coming Soon to a Mailbox Near You!
As we kick off 2025, we are taking a moment to reflect on the year that was. Our Year In Review features a comprehensive market recap, a showcase of homes bought and sold in your neighbourhood, remarkable success stories, and much more. Keep an eye out for your copy arriving soon, or get an exclusive first look by exploring the digital edition here

Art at Home | 11 Ottawa St
Wednesday, January 15th | 1:00 PM - 3:00 PM
 You are invited to a special viewing of 11 Ottawa Street. This stunning home has served as both the backdrop and muse for the wonderfully talented artist, Brenda Webster Tweel.

Join us for this exclusive open house, where the space will double as an art gallery, showcasing a curated collection displayed throughout the home. Immerse yourself in the creative ambiance, meet the artist behind the works, and perhaps take a piece home with you.

Wellness at the Winslow | 1 Strathgowan Avenue
Saturday, January 18th | 10:00 AM - 12:00 PM
 You’re invited to jumpstart your New Year’s resolutions at our exclusive Wellness at the Winslow yoga session. Enjoy a serene setting with natural light, calming soundscapes, and expert guidance. Afterward, refresh with cold-pressed juices while admiring breathtaking city views. Spaces are limited—reserve your spot for this unique blend of mindfulness and luxury.

Julie Amlin Opening Night | The Lobby | 1120 Yonge Street
Wednesday, January 22nd | 6:30 PM - 8:30 PM
 Join us for The Opening Night of artist Julie Amlin at The Lobby. Julie, a Toronto-based artist and muralist, inspires playful reflection and awakens the inner child through her vibrant, intuitive work. Her paintings blend colour, movement, and life's nuances, creating a magical depth that honours the present moment. Step into a space where recognition meets imagination, inviting your creativity to continue the unfolding story. Don’t miss this captivating evening of art and inspiration.

Blank Canvas | 23 Dewbourne Ave
Thursday, January 30th | 6:30 PM - 8:30 PM
 Explore the unique potential of 23 Dewbourne Avenue. This exclusive event showcases the property as an open, design-ready canvas for your dream home.

Indulge in light bites and beverages while immersing yourself in an interactive design experience. This unfurnished space is the perfect setting to visualize layouts, appreciate architectural details, and be inspired by endless possibilities.

This event welcomes prospective buyers, design enthusiasts, influencers, and agents to envision and share the beauty of this adaptable home.

Winter Wonderland | 1414 Bayview Avenue
Saturday, February 1st | 1:00 PM - 4:00 PM
 Join us in one of the few remaining luxury penthouse suites to celebrate the very best of Leaside, featuring unique, curated offerings from beloved local businesses.

Enjoy hot chocolate and tasty treats as you explore the exceptional lifestyle opportunities at 1414 Bayview and meet the people who make this vibrant community so special.

Don’t miss this chance to connect, shop, and celebrate all things Leaside in a truly magical setting. We can’t wait to welcome you!

This is a drop-in event and all are most welcome.

Beyond the Blueprints, Episode 8 | Tommy Smythe | Watch Episode
 Join Cailey Heaps as she chats with Tommy Smythe, renowned interior designer and TV personality. Tommy discusses his design journey, personal life, and business evolution. Discover his creative approach, key lessons, and the stories shaping his career. Tune in for insights on style, authenticity, and entrepreneurial spirit.
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.