Heaps Estrin's Blog

October in Toronto always signifies change — fall colours, sweater weather (though not yet), and this year in particular the city is abuzz with post-season baseball. The real estate market is following suit, although it is happening in increments. No grand slams but rather a sense that momentum is building one base hit at a time.

September numbers back up what we have been seeing on the ground. Toronto-area home sales rose 8.5% compared with the same month last year. Prices, meanwhile, remain softer than peak pandemic levels — the average selling price is still down about 5% year-over-year — but they ticked up slightly from August. And perhaps most telling, mortgage advisors are reporting a noticeable increase in applications since the Bank of Canada’s recent rate cut.

We’re not expecting fireworks, but “slow and steady” really does describe the landscape. As is quite typical, activity also varies by segment. Interestingly, the luxury market is showing a pick-up in activity — we’ve seen multiple offers on a handful of higher-end properties recently — while other pockets continue to adjust more slowly. Inventory is still relatively high, but new listings aren’t climbing dramatically, which should help balance supply and demand as buyers regain confidence.

One reason confidence is creeping back: predictability. After months of waiting and watching, buyers are recognizing that rates may ease and that today’s pricing represents an opportunity to secure the right home without the fiercely competitive atmosphere of 2021.

For sellers, the message is clear: strategy matters. Smart pricing, polished presentation, and targeted marketing are what stand out. For buyers, it’s about preparation — getting financing lined up, watching your target neighbourhoods, and being ready to act when the right fit appears.

The takeaway? While the market isn’t sprinting, it is moving forward, and those willing to engage now could benefit before competition heats up further. So if real estate is on your radar, this might just be the perfect time to step up to the plate.

As always, if you’d like to talk about how these trends affect your own plans — whether buying, selling, or just exploring options — our team is here to help.

Warmly,

Central Toronto Market Spotlight

Sales activity in Central Toronto gained traction in September, with total transactions up 16% year-over-year and condo sales climbing more than 12%. Buyers are clearly coming off the sidelines – a trend we’ve been sensing in recent weeks. Pricing remains below last year’s peaks, with the overall average down about 3% year-over-year, but that softening has helped spur movement and create opportunities. Detached homes saw a notable jump in sales (24% YOY) as average prices edged slightly lower, and semi-detached inventory held steady with modest growth in transactions. For sellers well-priced properties are finding an audience; for buyers, the combination of choice and slightly more predictable borrowing costs is encouraging.

West Toronto Market Spotlight

Momentum is also building west of the core. Overall sales were up nearly 10% year-over-year, led by a 46% surge in semi-detached transactions and modest growth in both detached and condo activity. Average pricing across property types is generally holding firm year-over-year, with detached homes steady and condos showing resilience despite a shifting market. New listings also ticked higher, giving buyers more choice. As with listings in central neighbourhoods, properties that show well and are priced strategically continue to command strong attention, sometimes even multiple offers. Slowly but surely, confidence is returning to this side of the city, too.

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Beds / Baths: 4+1 beds, 4 baths
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Reach out today for more information or to schedule your own private tour.

Celebrating 25 Years – Thank You
Last month we had the privilege of celebrating 25 years of Toronto success stories with our Studio 25 party at the Steam Whistle Roundhouse. It was an evening to reflect on how far we’ve come and to thank the people and brand partners who’ve helped make it all possible.

A special thanks goes out to our generous sponsors – especially presenting sponsor TD Insurance – for helping us create such a memorable night.

While the celebration itself couldn’t include everyone who’s been part of our 25-year journey – and, unfortunately, a few invitations didn’t make it to their intended recipients due to a technical hiccup – please know that all friends of the brand and members of our community were very much celebrated that night, and with us in spirit, even if not in the room.

Watch the highlights in the video above and thank you, again, for being part of our story. Here’s to the next 25 years of Toronto success stories – including yours.

Above and BEYOND
Our sixth edition of BEYOND is here. As always, this edition is designed to inform and inspire – highlighting the culture, trends, and market insights that continue to shape life in Toronto.

Inside, we explore the complex reality of the Sandwich Generation and the balancing act of caring for both children and aging parents. We shine a spotlight on the vibrant community of Leslieville and share a few of our latest local obsessions. We also delve into the role of art in shaping our city’s evolving urban landscape.

For those with an eye for interiors, we explore moody, dramatic spaces that make a lasting impression, and we sit down with celebrated designer Tommy Smythe for his take on Toronto’s design and cultural identity.

Discover more inside our Fall Issue.

Click here to read

Hey Jude at The Lobby
We’re thrilled to welcome JUDE – the soulful, handmade jewelry, ceramics, textiles, and clothing by multi-disciplinary artist Judy Carter – to The Lobby. This special shop-in-shop installation, which launches October 10th, transforms our back room into an intimate, design-forward space where you can explore Judy’s newest one-of-a-kind pieces and meet the maker behind them.

Come discover meaningful craftsmanship and stories worth wearing.
Shop Jude

Sandy Middleton | Layers of Light – On Now at The Lobby
If you haven’t had a chance to experience Layers of Light by artist Sandy Middleton yet, don’t miss it. Sandy’s striking encaustic paper sculptures explore layers of meaning and material, transforming time and chaos into quiet, meditative works. Each piece invites a deeper, more intuitive connection.

The exhibit is now showing at The Lobby – catch it before it closes November 7.
Learn More