Tour this stunning 1-bed loft at 210-543 Timothy Street in the historic Office Specialty Lofts. Soaring 13' ceilings, exposed brick, west views & steps to downtown shops, trails & more! $629,000
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This beautifully maintained 2-storey home offers over 2,500 sq ft of upgraded living space plus a finished basement, all nestled on a rare lot backing onto a tranquil pond and lush greenspace – ultimate privacy and serenity! Virtual Tour: https://ssvmedia.hd.pics/163-Crossland-Gate/idx
✨ Highlights You'll Love:
✅ Renovated open-concept main floor
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✅ 4+1 bedrooms, 4 bathrooms, including a luxurious spa-like ensuite
✅ Finished basement w/ 5th bedroom, rec room, 4pc bath & gym/office space
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This is the one that checks every box – space, style, location & lifestyle. Don’t miss it! Listed at $1,398,000
I have held off on writing this newsletter until things settled a bit, but with so many people asking me about the impact of trade wars on real estate in Canada—and particularly in the GTA—I wanted to share my thoughts. These are still early days, and while some optimistic predictions suggest that the ongoing tariff disputes could be resolved within six months, there are no guarantees.
We can only hope that Trump shifts his focus elsewhere as the U.S. stock market volatility and global retaliatory tariffs continue to create uncertainty. While economists have differing opinions on how this will affect Canadians, one thing is clear: Canada has strong global support.
Here are some key points to consider:
Did you know that Canada has the 9th largest economy in the world and is currently the 2nd fastest-growing? Our strong economic position plays a significant role in shaping real estate markets across the country, and recent global trade dynamics may have unexpected benefits for Canadian homeowners and investors.
Trade tariffs are always a hot topic, as they can influence industries, employment, and even real estate. While some may worry about tariffs negatively affecting Canada, they could also make Canadian goods more affordable for American buyers. This shift may help keep our economy robust and mitigate any negative effects.
For homeowners and investors, this economic strength means continued demand in the real estate market. A strong economy supports home values, ensures stability, and creates opportunities for those looking to buy, sell, or invest.
First-time buyers are in a great position right now. With interest rates coming down and inventory increasing, more opportunities are opening up to find the perfect home.
This movement in the market benefits move-up buyers as well. When first-time buyers purchase entry-level homes, it creates demand for mid-tier properties, helping the entire market stay active.
What about home prices?
Prices have remained flat since last year, despite earlier predictions of a 6% increase for 2024.
Even if prices stay stable, they are still up over 50% compared to five years ago in Newmarket, Aurora, East Gwillimbury, Whitchurch-Stouffville, and Georgina.
Sellers continue to benefit from this long-term appreciation, even in a more balanced market.
The Bank of Canada has been proactive by lowering it's prime lending rate once again to 2.75% which benefits both buyers and sellers.
Whether you're buying your first home, looking to move up, or thinking about selling, the market offers real opportunities in 2025. With stable prices, lower interest rates, and a strong economic foundation, now is a great time to explore your options.
Let’s talk about your real estate goals—I’m here to help!
Jill Renshaw, Broker
Next Bank of Canada Rate Review:* April 16, 2025
On March 12th, the Bank of Canada announced that it had lowered the target for the overnight lending rate by 25 basis points to 2.75%. This marks the seventh consecutive decrease to rates since June 2024.
In its announcement, the Bank acknowledged that the Canadian economy had started the year on good footing. Now, with a trade war underway with the United States, the country is expected to see slower economic activity and increasing inflationary pressures in the months ahead, justifying the central bank’s decision to reduce its policy rate yet again.
“[In recent] months, the pervasive uncertainty created by continuously changing US tariff threats has shaken business and consumer confidence. This is restraining household spending intentions and businesses’ plans to hire and invest. Against this backdrop, and with inflation near the 2% target, [the] Governing Council decided to reduce the policy rate a further 25 basis points,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
“Looking ahead, the trade conflict with the United States can be expected to weigh on economic activity, while also increasing prices and inflation. Governing Council will proceed carefully with any further changes to our policy rate given the need to assess both the upward pressures on inflation from higher costs and the downward pressures from weaker demand.”
In January, Canada’s Consumer Price Index (CPI) rose 1.9% on a year-over-year basis, a slight increase from 1.8% in December. Higher gasoline and energy prices contributed to the modest uptick to the inflation rate, which remains under the Bank’s 2% inflation target. Inflation is expected to increase to 2.5% in March as relief from the GST/HST tax break subsides.
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Nestled on a quiet, tree-lined street in the heart of Holland Landing, this beautifully maintained split-level home offers 4 bedrooms, 3 bathrooms, and a spacious, well-treed lot perfect for families. The updated kitchen is a chefs dream, while the cozy lower-level family room with a gas fireplace opens to a large deck and screened-in porch for year-round enjoyment. The lower level features a 4th bedroom, additional bathroom, and a separate side entrance, ideal for in-law potential or home office. Upstairs, enjoy three bright & sunny bedrooms and a shared bathroom. The finished basement offers a rec room/home office laundry room, and a 3-piece bathroom with a large storage area. Located minutes from the GO Train, Hwy 404, Newmarket, parks, schools, and the scenic Nokiidaa trail, this home offers both tranquility and convenience.
Listed at: $1,059,000
**** EXTRAS **** Kitchen (2003), Roof Shingles (2011), Windows (2001), Attic Insulation (2011), Gutter Guards (2011), Patio Door (2010), Furnace (2010), Main Bath (2009), Gas Frplc. (20008), Driveway (2018), Sunroom (2017), Tankless Hot Water Heater - 2015
The Bank of Canada has announced it's final rate cut of 2024!
With a 50 bps reduction, the policy rate now sits at 3.25%. This change is expected to shift housing market dynamics, potentially increasing demand and pushing prices higher.
How will this impact your buying or selling strategy? Let’s talk through your next move!
For the last few years, the Canadian housing market has experienced trends far outside the norm. A global pandemic, rapidly rising interest rates and economic disruptions threw the real estate market off course for a time, but 2025 is expected to bring conditions back in line with long-term historical averages.
According to the Royal LePage Market Survey Forecast, the aggregate1 price of a home in Canada is set to increase 6.0% year over year to $856,692 in the fourth quarter of 2025, with the median price of a single-family detached property and condominium projected to increase 7.0% and 3.5% to $900,833 and $605,993, respectively.2
“After several years of unusual volatility in the real estate market, key indicators point to a return to stability in 2025. The backlog of willing and able buyers continues to grow, and upcoming changes to mortgage lending rules will further enhance Canadians’ borrowing power,” said Phil Soper, president and chief executive officer, Royal LePage. “Most notably, the Bank of Canada’s shift from ‘inflation fighter’ to ‘economy booster’ has taken time to influence buyer behaviour. We saw a marked increase in market activity at the start of the fourth quarter, following the Bank of Canada’s 50-basis-point rate cut. Buyers now believe home prices have hit bottom and are eager to act before competition intensifies.”
A series of new lending regulations are set to take effect this month, offering greater accessibility to both first-time buyers and current homeowners. As of December 15th, eligibility for 30-year amortizations on insured mortgages will be expanded to all first-time homebuyers and to all purchasers of new construction properties, up from the current 25-year threshold.3 In addition, the mortgage insurance cap will increase from $1 million to $1.5 million, allowing buyers with a down payment of less than 20 per cent the opportunity to explore housing options at a higher price point. This will be especially impactful for homebuyer hopefuls in the country’s priciest real estate markets, where average property values often exceed $1 million.
“Improved lending conditions, combined with declining interest rates, will unlock new housing opportunities for many Canadians in the new year. First-time buyers will be the primary beneficiaries of these initiatives, as their ability to borrow more for less with a smaller down payment will help bring them closer to their first home purchase,” said Soper. “We believe the return of buyers to the market will encourage builders and trigger a wave of new supply, which is very much needed.
“Addressing Canada’s critical housing shortage must remain a top priority for policymakers at every level of government. With our population growing rapidly through both natural increases and immigration, it is essential to stay focused on supporting the development of new homes if we hope to address housing affordability, be it for purchase or rent.”
2025 will bring a change in government south of the border, and potentially in Canada’s House of Commons. New leadership, in addition to evolving trade relations, immigration policies and global conflict, could meaningfully alter the state of the Canadian housing market.
“With an election approaching in Ottawa and a new administration preparing to take office in Washington, the housing market faces potential disruptions. Here at home, a federal election will see new housing policies that may temporarily impact market activity in the second half of 2025,” said Soper. “Meanwhile, south of the border, the incoming Trump administration’s trade policies and broader economic agenda have the potential to create ripple effects for Canada’s economy and housing market. While these impacts may take time to unfold, they could eventually affect consumer confidence and market dynamics on both sides of the border.”
Read Royal LePage’s 2025 Market Survey Forecast for national and regional insights.
Highlights from the release:
Greater Montreal Area aggregate home price appreciation (6.5%) expected to outpace greater regions of Toronto (5.0%) and Vancouver (4.0%) next year.
Quebec City is forecast to see the highest gains among all major regions in 2025, with the aggregate home price expected to rise 11.0%, followed by Edmonton and Regina at 9.0%.
Calgary, which saw unprecedented price appreciation and sustained activity over the last two years, is forecast to see home prices increase a moderate 4.0%, along with Ottawa, Halifax and Winnipeg.
Median price of a condominium in the Greater Toronto Area expected to decline modestly by 1.0%, with thousands of new units to be added to the current surplus of supply.
A lush lawn and blooming flower beds are the pride and joy of many homeowners. Canada’s harsh winters, however, can quickly squash the hard work you’ve put into nurturing and maintaining your outdoor spaces during the summer months. To ensure that your backyard gets off to a good start when spring arrives, a little prep work before the snow hits can do a world of good. Help prepare your lawn and garden for colder weather this year by following these winterization tips.
Care for your annuals and perennials
When it comes to winterizing your garden beds, show your plants and flowers some love. Start by removing any annuals (plants that are only around for one growing season, such as sunflowers, tomatoes and varieties of lettuce). Removing annuals will rid your beds of lingering bacteria, and prevent any potential pests or diseases from building up during the winter.
For your perennial plants, give them a healthy trim back and a final water before the end of the season. Perennials with large and dense roots can be cut and divided into smaller plants to support better regrowth in the spring.Bring delicate plants, such as succulents or potted bulbs, indoors to prevent frost damage. Cover any shrubs or plants that can’t be moved inside with landscape fabric or burlap to protect them from harsh weather conditions.
Get down in the dirt
Just like your plants, your soil also needs some help preparing for the winter ahead. Remove any weeds, dead plant debris and buried root vegetables from your soil before the first hard frost sets in. Spread mulch over your soil and around the base of trees to provide a protective layer from frost and a barrier that will help to keep moisture and temperature levels consistent for your plants. When cleaning up your soil, you may also want to consider planting bulbs for the following spring, such as crocus, tulips and daffodils.
Show your lawn a little TLC
The ground gets compacted and cold during the winter, which can make it difficult for lawns to recover post-thaw. Help your lawn out by aerating it in the fall to loosen soil and ensure better drainage. Instead of raking all of the tree leaves off of your lawn, cut your grass long — approximately two to three inches high — and leave a layer of shredded leaves on top. Mowing the leaves into tiny pieces will allow your lawn’s soil to absorb nutrients from the fallen debris more efficiently while still letting light and moisture through. In low-traffic areas where your lawn is patchy and damaged, overseed in the early fall for best results in the spring.
Add a boost of nutrients
As your garden prepares for hibernation, it helps to give your outdoor greens some needed nourishment.If you have a compost bin, sprinkle this material on your flower beds to help them replenish their nutrients post-winter, and top up your bin with any leaves, grass clippings or debris from your winterization clean up. You can give your lawn a final dose of sustenance too with the help of special winter grass fertilizer that contains nitrogen and potash.
Not all of your fallen leaves have to end up in paper bags. Instead, add mulched leaves to your perennial flower beds and vegetable gardens as an insulating layer and a source of valuable nutrients for the soil.
For the first time in two years, the Bank of Canada’s overnight lending rate has hit under 4%.
In its scheduled October 2024 announcement, the central bank lowered the target for the overnight lending rate by 50 basis points to reach 3.75%. This marks the fourth consecutive cut to rates in 2024, and the largest decrease since the onset of the pandemic in March 2020.
In September, Canada’s Consumer Price Index recorded the smallest yearly increase since February 2021, rising 1.6% year over year, hitting under the Bank’s 2% inflation target for the second consecutive month. This was a key factor in the Bank’s decision to lower the lending rate by a larger amount in October.
“In the past few months, inflation has come down significantly from 2.7% in June to 1.6% in September. Recent indicators suggest it will be around 2% in October. Price pressures are no longer broad-based, and both our measures of core inflation are now under 2.5%. Our surveys also find that business and consumer expectations of inflation have shifted down and are nearing normal. All this suggests we are back to low inflation. This is good news for Canadians,” said Tiff Macklem, Governor of the Bank of Canada, in a press conference with reporters following the announcement.
“If the economy evolves broadly in line with this forecast, we anticipate cutting our policy rate further to support demand and keep inflation on target. The timing and pace of further interest rate cuts will depend on incoming information and our assessment of its implications for the inflation outlook. We will take our monetary policy decisions one at a time,” he added.
Another cut to the overnight lending rate may be enough to stimulate activity in stagnant housing markets across Canada come spring, especially among buyers who have been sidelined by the higher cost of borrowing over the past two years.
In its Q3 2024 Home Price Update & Market Forecast, Royal LePage predicted that the aggregate price of a home in Canada will increase 5.5% in the fourth quarter of 2024, compared to the same quarter last year. As lower interest rates boost consumer confidence and borrowing power, home prices are expected to increase as more buyers re-enter the market. Rising demand in the late months of 2024 and into the new year will likely put Canada’s housing market on track for an early spring market.
“Activity in Canada’s housing market has been sluggish in many regions due to higher borrowing costs, but today’s more aggressive cut to lending rates could cause the tide to turn quickly. For those with variable rate mortgages – who will benefit from the rate drop immediately – or those with fast-approaching loan renewals, today’s announcement is welcome news indeed,” said Phil Soper, president and CEO of Royal LePage. “With every cut to the overnight lending rate, more homebuyers are expected to come off of the sidelines. In turn, rising demand will cause home prices to increase more rapidly, eliminating the advantages of lower borrowing costs. We expect that an early spring market is on the cards – a pull-ahead trend we’ve seen in previous market turnarounds.”
Though the Bank of Canada started to reduce rates in June, many homebuyers have been waiting for a more substantial cut to rates before choosing to reboot their purchase plans. According to a Royal LePage survey, conducted by Leger, 51% of Canadians who put their home buying plans on hold the last two years said they would return to the market when the Bank of Canada reduced its key lending rate. Eighteen percent said they would wait for a cut of 50 to 100 basis points, and 23% said they’d need to see a cut of more than 100 basis points before considering resuming their search.
It seems increased affordability and favourable market conditions are encouraging buyers to re-enter the market. The Toronto Regional Real Estate Board (TRREB) reported a positive trend in the Greater Toronto Area (GTA) housing market last month, as September home sales outpaced last year’s figures.
Market dynamics: sales and listings on the rise
In September 2024, the GTA witnessed a significant increase in home sales, with a total of 4,996 properties changing hands, marking an 8.5% rise from the 4,606 sales recorded in September 2023. Furthermore, the market saw a substantial increase in new listings, with 18,089 new entries into TRREB’s MLS® System, a 10.5% increase year over year. On a seasonally adjusted basis, September sales also increased compared to August, along with new listings. This growth suggests a healthier market balance that benefits both buyers and sellers.
Price Adjustments: A Buyer’s Advantage
The MLS® Home Price Index Composite benchmark showed a decrease of 4.6% compared to last year, with the average selling price settling at $1,107,291, slightly down from the previous year’s average of $1,118,215. On a seasonally adjusted basis, the average selling price edged up slightly compared to the month prior.
These adjustments in price points reflect a market that is increasingly favourable to buyers, particularly in the more affordable segments of the market such as condominiums and townhouses.
TRREB President Jennifer Pearce highlighted the positive impact of recent economic changes, stating, “With every rate cut, more GTA households find themselves in a position to make a long-term investment in home ownership. The adjustments in mortgage lending guidelines and the downward trend in borrowing costs are making it easier for first-time buyers and existing homeowners alike to purchase properties.”
Jason Mercer, TRREB’s Chief Market Analyst, added, “The increase in new listings has not only improved sales but has also empowered buyers with greater negotiating power. This shift is leading to moderate price declines across various housing types, improving overall affordability.”
Future outlook: Enhanced flexibility for homebuyers
TRREB CEO John DiMichele expressed satisfaction with recent policy changes that enhance mortgage flexibility. “The recent adjustments to mortgage lending guidelines, including the removal of the stress test requirement for mortgage renewals and the extension of amortization periods, are crucial for giving buyers more leverage and options in the housing market,” DiMichele explained.
As the GTA real estate market continues to recover, these changes are expected to sustain the momentum of growth, benefiting both the economy and individual homebuyers looking to enter or navigate the market more effectively.
Here's your monthly update on the Toronto housing market. According to the latest data from the Toronto Regional Real Estate Board (TRREB), home sales in the Greater Toronto Area (GTA) saw a dip in June 2024 compared to the same month last year. Despite a rate cut from the Bank of Canada at the start of June, many buyers have decided to wait before making a purchase. As a result, the market remained well-supplied, leading to a slight decrease in the average selling price compared to June 2023
Key Highlights:
Sales: GTA REALTORS® reported 6,213 home sales in June 2024, marking a 16.4% decline from the 7,429 sales recorded in June 2023.
New Listings: There were 17,964 new listings added to the MLS® System, showing a 12.3% increase year-over-year.
Prices: The MLS® Home Price Index Composite benchmark dropped by 4.6% compared to June 2023. The average selling price for June 2024 was $1,162,167, down 1.6% from $1,181,002 in June 2023. However, both the MLS® HPI Composite and the average selling price saw an increase compared to May 2024 on a seasonally adjusted basis.
Insights: The Bank of Canada's rate cut last month offered some relief for homeowners and buyers however multiple rate cuts may be necessary before we see a significant increase in home purchases as affordability in the GTA remains an issue for many buyers.
With the surge in listings since the early Spring, the real estate market is experiencing a significant transformation from a Seller's Market to more balanced conditions, with some areas leaning towards a Buyer's Market. The Greater Toronto Area market is particularly noteworthy for its abundant supply, providing buyers with a diverse selection and increased negotiation power.
As interest rates fall and sales activity picks up pace, the ample inventory levels are set to stabilize any abrupt increases in selling prices. Stay informed about the evolving market trends and feel free to reach out if you have any questions about the current market dynamics!
Next Bank of Canada Rate Announcement: July 24, 2024
With warmer weather on the way, Canadians will soon be able to once again enjoy weekends on the water and warm summer nights relaxing by the fire pit. In the lead up to prime time in the country’s recreational housing markets, many potential buyers are expected to make a move on purchasing that lakeside cabin or family cottage this year, increasing competition for tight supply and pushing property prices up.
According to the recently-released Royal LePage® 2024 Spring Recreational Property Report, the median price of a single-family home in Canada’s recreational regions is forecast1 to increase 5.0% in 2024 to $678,930, compared to 2023, as a boost in consumer confidence will bring sidelined buyers back to the market.
“Across the nation there was a sizable rise in demand for all types of housing during the pandemic, but nothing could match the ‘gold rush fever’ that occurred in recreational property markets,” said Phil Soper, president and CEO, Royal LePage. “With city offices closed and the wide availability of high-speed internet allowing people to take video meetings on lakefronts and mountain tops, excess demand pushed recreational property prices to unprecedented heights.
“Inflation reared its ugly head, interest rates soared and the economic downturn that followed pushed cottage, cabin and chalet prices off those pandemic peaks, yet the fundamental demand for recreational living has not abated. We believe that this market segment will see a resurgence of activity in 2024,” continued Soper.
In 2023, the weighted median2 price of a single-family home in Canada’s recreational property regions decreased 1.0% year over year to $646,600. This follows a year-over-year price decline of 11.7% in 2022. When broken out by housing type, the weighted median price of a single-family waterfront property decreased 7.9% year over year to $1,075,500 in 2023, and the weighted median price of a standard condominium decreased 1.5% to $420,300 during the same period.
According to a survey of 150 Royal LePage recreational real estate market professionals across the country,3 41% of respondents reported less inventory compared to the same time last year; 33% of respondents said that their region has similar levels of inventory. However, 64% reported similar or more demand from buyers for recreational homes. This sustained and growing demand for a limited number of available properties is expected to put upward price pressure on Canada’s recreational market.
Sixty-two per cent of experts said they believe demand will increase slightly in their region when interest rate cuts are made, while 21% expect demand will increase significantly.
“Recreational property purchases are not as heavily impacted by mortgage rates as those in the residential market. That said, consumer confidence in general will get a boost when we see a cut to the Bank of Canada’s key lending rate, expected later this year. This lift in activity will put upward pressure on prices. And, if this coincides with an influx of inventory, we should see a boost in sales as well,” concluded Soper.