As we step into 2025, the real estate market brings a mix of cautious optimism and strategic opportunities. Whether you're looking to buy, sell, or simply understand the shifting landscape, here are the key insights you need to navigate the year ahead with confidence.

Will I Pay More for a Home in 2025 Than in 2024?

Yes, home prices are expected to rise in 2025, but the extent varies by region and property type. The Canadian Real Estate Association (CREA) forecasts a 4.4% increase in the national average home price, reaching $713,375. Royal LePage anticipates a 6.0% year-over-year increase by Q4, with single-family homes leading gains at 7.0% and condos experiencing a more modest 3.5% rise. In the Greater Toronto Area (GTA), detached homes could see a 7.0% increase, while condos may decline by 1.0%.

Will the Market Favour Buyers or Sellers?

The market is likely to tilt toward sellers, driven by tightening supply and increased demand. According to Royal LePage, limited new listings will create a competitive environment, especially for single-family homes. However, the condo market in urban centers like Toronto might offer buyers more opportunities due to an oversupply of inventory.

How Will Pricing Be Impacted?

Price growth will be steady but regionally nuanced. Detached homes, particularly in areas with limited supply, are expected to lead price appreciation. Conversely, the condo market may remain softer, offering a rare window of affordability for first-time buyers. Buyers should keep an eye on local market conditions to identify opportunities.

Will the Market Bounce Back in Terms of Sales Volume?

Yes, sales activity is expected to rebound. CREA predicts a 6.6% increase in national home sales, while RBC and TD Economics project even higher growth rates of 12.5% and 15.8%, respectively. The spring market is expected to kickstart this momentum, fueled by declining interest rates and improved buyer confidence.

What Will Happen with Interest Rates in 2025?

Interest rates are expected to continue declining, albeit at a slower pace. After significant rate cuts in 2024, the Bank of Canada is anticipated to reduce its policy rate to between 2.00% and 3.00% by mid-2025. Fixed mortgage rates should stabilize, and variable-rate loans will likely see further reductions, enhancing affordability for buyers.

How Will This Impact My Purchasing Power?

Lower interest rates will improve purchasing power, particularly for first-time buyers and those looking to upsize. However, affordability challenges remain in high-demand markets. It’s crucial to explore financing options early to understand what’s possible.

If I Have a Mortgage, How Will Interest Rates Affect Me?

For those with variable-rate mortgages, the anticipated rate cuts could lower monthly payments or help you apply more to your principal. Fixed-rate mortgage holders nearing renewal may benefit from reduced rates (based on the bond yields coming down), but it’s essential to review your options with a trusted lender to optimize your financial position.

Should You Wait to Buy or Sell?

No—waiting often means missed opportunities. The best time to move is when it aligns with your personal needs and goals. Timing the market is challenging, even for experts, and the reality is that 2025 remains unpredictable.

What you can control is your preparation. Here’s how to get started:

1. Clarify Your Goals: Define what you need in your next home, including location, size, and features, to support your lifestyle.

2. Research the Market: Explore homes in your desired area to understand pricing and trends.

3. Get a Home Selling Consultation: If you’re selling, learn your home’s current market value and develop a strategy to align your sale with your next purchase.

4. Assess Financing Options: Work with a lender to understand your borrowing capacity, mortgage options, and any penalties for breaking or porting an existing mortgage.

We can help. Contact us today to get expert advice.

Final Thoughts

The 2025 real estate market presents opportunities for those prepared to act. Declining interest rates, improving sales volumes, and region-specific price trends provide a landscape where both buyers and sellers can achieve their goals. Success lies in preparation and timely action—don’t let the headlines deter you from making the move that’s right for you.

If you’re ready to take the next step, the Jim Stanton Team is here to guide you through every stage of your real estate journey. Reach out today to start planning your path to success in 2025.

December Market Watch: Seasonal Slowdown Sets the Stage for 2025 Opportunities

As expected, December brought a seasonal cooldown to the GTA housing market. With fewer listings, softened sales, and mixed price trends, both buyers and sellers can find unique opportunities in this quieter time of year. Here’s what the latest data reveals and what it could mean for you.

Market Dynamics

Sales Momentum: December 2024 saw a predictable dip in sales activity, declining 1.8% year-over-year and a significant 43% month-over-month, following November's remarkable 40% year-over-year surge. The seasonal slowdown reflects the typical December pattern as the market winds down for the holidays.

Listing Dynamics: New listings dropped sharply, down nearly 60% from November, but remained 20% higher than December 2023 levels. Active listings, meanwhile, were up 48.5% year-over-year, indicating an inventory buildup compared to the prior December but a noticeable contraction compared to the fall months.

Price Trends: The average sale price for December landed at $1,067,186, down 1.6% year-over-year and 3.5% month-over-month. Looking at the bigger picture, the average sale price for 2024 across all home types came in at $1,117,600—a modest 0.8% dip compared to 2023’s $1,126,263.

Market Status: Listings spent an average of 36 days on the market in December, while total property days on market, including relisted homes, averaged 56 days. These figures underscore the slower pace of activity that defines this time of year.

What's happening locally? Toronto Market Insights

Every city/town is unique as are the communities within them. Scroll through to find your town.

Impact of Interest Rates

Impact of Mortgage Rates

The Bank of Canada delivered another rate cut on December 11, reducing the benchmark rate by 0.50%. This move offers relief to variable-rate mortgage holders and those seeking new variable-rate options. However, fixed mortgage rates edged higher earlier in the month, following a lagging response to increased bond yields from the fall. Looking ahead, industry experts anticipate fixed rates will decrease in 2025 as lenders compete for the attention of the 1.2 million Canadians facing mortgage renewals next year.

The next Bank of Canada announcement is on January 24th.

What Does This Mean for Buyers and Sellers?

What Does This Mean for Buyers and Sellers?

For Buyers:

December can present hidden gems for savvy buyers. With fewer active shoppers in the market, competition is reduced, providing more room for negotiation. If you’re able to find a home that fits your needs, you might secure a great deal ahead of the busier spring market.

For Sellers:

A quieter December market can actually work in your favor, with fewer competing listings vying for buyer attention. If your home is well-prepared and strategically marketed, it has the potential to stand out and attract serious buyers. Alternatively, December is an excellent time to prepare for a spring listing, ensuring your home is in prime condition to capitalize on early 2025 demand.

In Conclusion 

The December market slowdown is a natural conclusion to the year, but it sets the stage for exciting opportunities in 2025. With interest rates shifting, inventory tightening, and buyer activity expected to pick up, now is the time to plan your next move strategically.

Get the Help You Need:

Ready to buy or sell in the GTA? Contact us today for expert advice and tailored support to navigate this evolving market. Let’s make 2025 your most successful year yet.

Call Ben at 905-995-23372 or Jim at 905-409-9967

MORE MARKET INSIGHTS (Markham/Stouffville & Port Hope/Cobourg)

Oh, 2024. You were supposed to be the belle of the ball. The great rebound after nearly a year of 5% interest rates. Relief was in sight. Rather than shifting into a shopping spree, the market hit a holding pattern. The GTA saw only 67,610 sales, way off the 77,000 forecasted by the Toronto Regional Real Estate Board.

So what happened?

The reality, given all we faced in 2024, the Greater Toronto Area (GTA) real estate market demonstrated a lot of resilience. Let’s dive into the highlights of the year, exploring key trends, challenges, and what’s next for buyers and sellers.

Did the GTA Real Estate Market Bounce Back in 2024?

Yes, but it wasn’t a straight path. After a challenging 2023, where sales dipped significantly, 2024 saw signs of recovery, particularly in the latter half. Average home prices (all home types) was $1,117,600 a decline of less then 1% from 2023. Improving buyer sentiment in October and November, marked the potential beginning of a rebound. However, with sales coming in under 68,000 (short of the Toronto Regional Real Estate Board’s 77,000 forecast), it’s clear the recovery wasn’t uniform across all market segments.

Was It a Buyers’, Sellers’, or Balanced Market?

2024 was predominantly a balanced market, with inventory levels fluctuating between three and four months’ supply throughout the year. This balance gave buyers greater negotiating power compared to the pandemic-driven frenzy of years past. Buyers could secure financing and inspection clauses more frequently, a shift from the high-pressure sales environment of 2022.

That said, sellers faced challenges aligning with buyer expectations, often resulting in terminated listings. The GTA saw just over 50,000 listings terminate*. To put that in perspective in 2021, there were over 121,000 sales and under 36,000 listings terminated.

*Many listings that terminated and relisted and some did so multiple times.

Where Are Prices Relative to the Start of the Year and the 2022 Peak?

• Start of 2024: Prices ended the year similar to where they began (+3.9%), after a slow year thanks to renewed market activity fueled by interest rate cuts and steady inflation declines.

• 2022 Peak: By mid-fall, a stalemate between hesitant buyers and hopeful sellers began to shift, reigniting transactions in October and November while December remained predictably softer.

What Drove Market Activity in 2024?

Several factors shaped the 2024 market:

1. Interest Rate Cuts: The Bank of Canada’s five consecutive rate cuts (totaling 175 basis points) played a pivotal role. Declining interest rates spurred some buyers to act while others stood pat waiting for rates to go even lower. By year-end, the overnight rate dropped to 3.25%, significantly reducing borrowing costs for buyers (especially those looking for a variable rate).

2. Inventory Dynamics: Increased inventory meant buyers had more choice and less urgency to come to the offer table. Despite this sellers held their ground and demanded market value for their homes.

3. Easing Inflation: Inflation steadily declined, reaching 2.0% by November, which bolstered consumer confidence.

4. Stalemate Breaking: By mid-fall, a stalemate between hesitant buyers and hopeful sellers began to shift, reigniting transactions.

What Can We Expect in 2025?

Looking ahead, expect a cautious yet optimistic market:

• More Rate Relief: With further mortgage renewals and easing amortization challenges, buyers may find opportunities to re-enter the market.

• Gradual Price Growth: Prices are likely to continue recovering, particularly in high-demand areas like Durham Region.

• Policy Impacts: New federal programs supporting secondary suites and the removal of the stress test for certain mortgage switches and easing of rules for first-time buyers and uninsured mortgages could boost market activity.

• Most experts predict the 2025 Spring Market will be busier than we’ve seen the last 2 years.

Key Takeaway

For both buyers and sellers, understanding market trends and working with a knowledgeable team is critical. The Jim Stanton Real Estate Team prides itself on guiding clients through these complexities with trust, integrity, and proven expertise. Whether you’re navigating today’s opportunities or planning for tomorrow, we’re here to help.

Ready to discuss your goals for 2025? Let’s connect!

CONTACT US

December Market Watch: Seasonal Slowdown Sets the Stage for 2025 Opportunities

As expected, December brought a seasonal cooldown to the GTA housing market. With fewer listings, softened sales, and mixed price trends, both buyers and sellers can find unique opportunities in this quieter time of year. Here’s what the latest data reveals and what it could mean for you.

Market Dynamics

Sales Momentum: December 2024 saw a predictable dip in sales activity, declining 1.8% year-over-year and a significant 43% month-over-month, following November's remarkable 40% year-over-year surge. The seasonal slowdown reflects the typical December pattern as the market winds down for the holidays.

Listing Dynamics: New listings dropped sharply, down nearly 60% from November, but remained 20% higher than December 2023 levels. Active listings, meanwhile, were up 48.5% year-over-year, indicating an inventory buildup compared to the prior December but a noticeable contraction compared to the fall months.

Price Trends: The average sale price for December landed at $1,067,186, down 1.6% year-over-year and 3.5% month-over-month. Looking at the bigger picture, the average sale price for 2024 across all home types came in at $1,117,600—a modest 0.8% dip compared to 2023’s $1,126,263.

Market Status: Listings spent an average of 36 days on the market in December, while total property days on market, including relisted homes, averaged 56 days. These figures underscore the slower pace of activity that defines this time of year.

What's happening locally? Durham & Toronto Market Insights

Every city/town is unique as are the communities within them. Scroll through to find your town.

Impact of Interest Rates

Impact of Mortgage Rates

The Bank of Canada delivered another rate cut on December 11, reducing the benchmark rate by 0.50%. This move offers relief to variable-rate mortgage holders and those seeking new variable-rate options. However, fixed mortgage rates edged higher earlier in the month, following a lagging response to increased bond yields from the fall. Looking ahead, industry experts anticipate fixed rates will decrease in 2025 as lenders compete for the attention of the 1.2 million Canadians facing mortgage renewals next year.

The next Bank of Canada announcement is on January 24th.

What Does This Mean for Buyers and Sellers?

What Does This Mean for Buyers and Sellers?

For Buyers:

December can present hidden gems for savvy buyers. With fewer active shoppers in the market, competition is reduced, providing more room for negotiation. If you’re able to find a home that fits your needs, you might secure a great deal ahead of the busier spring market.

For Sellers:

A quieter December market can actually work in your favor, with fewer competing listings vying for buyer attention. If your home is well-prepared and strategically marketed, it has the potential to stand out and attract serious buyers. Alternatively, December is an excellent time to prepare for a spring listing, ensuring your home is in prime condition to capitalize on early 2025 demand.

In Conclusion 

The December market slowdown is a natural conclusion to the year, but it sets the stage for exciting opportunities in 2025. With interest rates shifting, inventory tightening, and buyer activity expected to pick up, now is the time to plan your next move strategically.

Get the Help You Need:

Ready to buy or sell in the GTA? Contact us today for expert advice and tailored support to navigate this evolving market. Let’s make 2025 your most successful year yet.

Call Ben at 905-995-23372 or Jim at 905-409-9967

MORE MARKET INSIGHTS (Markham/Stouffville & Port Hope/Cobourg)

As we step into 2025, the real estate market brings a mix of cautious optimism and strategic opportunities. Whether you're looking to buy, sell, or simply understand the shifting landscape, here are the key insights you need to navigate the year ahead with confidence.

Will I Pay More for a Home in 2025 Than in 2024?

Yes, home prices are expected to rise in 2025, but the extent varies by region and property type. The Canadian Real Estate Association (CREA) forecasts a 4.4% increase in the national average home price, reaching $713,375. Royal LePage anticipates a 6.0% year-over-year increase by Q4, with single-family homes leading gains at 7.0% and condos experiencing a more modest 3.5% rise. In the Greater Toronto Area (GTA), detached homes could see a 7.0% increase, while condos may decline by 1.0%.

Will the Market Favour Buyers or Sellers?

The market is likely to tilt toward sellers, driven by tightening supply and increased demand. According to Royal LePage, limited new listings will create a competitive environment, especially for single-family homes. However, the condo market in urban centers like Toronto might offer buyers more opportunities due to an oversupply of inventory.

How Will Pricing Be Impacted?

Price growth will be steady but regionally nuanced. Detached homes, particularly in areas with limited supply, are expected to lead price appreciation. Conversely, the condo market may remain softer, offering a rare window of affordability for first-time buyers. Buyers should keep an eye on local market conditions to identify opportunities.

Will the Market Bounce Back in Terms of Sales Volume?

Yes, sales activity is expected to rebound. CREA predicts a 6.6% increase in national home sales, while RBC and TD Economics project even higher growth rates of 12.5% and 15.8%, respectively. The spring market is expected to kickstart this momentum, fueled by declining interest rates and improved buyer confidence.

What Will Happen with Interest Rates in 2025?

Interest rates are expected to continue declining, albeit at a slower pace. After significant rate cuts in 2024, the Bank of Canada is anticipated to reduce its policy rate to between 2.00% and 3.00% by mid-2025. Fixed mortgage rates should stabilize, and variable-rate loans will likely see further reductions, enhancing affordability for buyers.

How Will This Impact My Purchasing Power?

Lower interest rates will improve purchasing power, particularly for first-time buyers and those looking to upsize. However, affordability challenges remain in high-demand markets. It’s crucial to explore financing options early to understand what’s possible.

If I Have a Mortgage, How Will Interest Rates Affect Me?

For those with variable-rate mortgages, the anticipated rate cuts could lower monthly payments or help you apply more to your principal. Fixed-rate mortgage holders nearing renewal may benefit from reduced rates (based on the bond yields coming down), but it’s essential to review your options with a trusted lender to optimize your financial position.

Should You Wait to Buy or Sell?

No—waiting often means missed opportunities. The best time to move is when it aligns with your personal needs and goals. Timing the market is challenging, even for experts, and the reality is that 2025 remains unpredictable.

What you can control is your preparation. Here’s how to get started:

1. Clarify Your Goals: Define what you need in your next home, including location, size, and features, to support your lifestyle.

2. Research the Market: Explore homes in your desired area to understand pricing and trends.

3. Get a Home Selling Consultation: If you’re selling, learn your home’s current market value and develop a strategy to align your sale with your next purchase.

4. Assess Financing Options: Work with a lender to understand your borrowing capacity, mortgage options, and any penalties for breaking or porting an existing mortgage.

We can help. Contact us today to get expert advice.

Final Thoughts

The 2025 real estate market presents opportunities for those prepared to act. Declining interest rates, improving sales volumes, and region-specific price trends provide a landscape where both buyers and sellers can achieve their goals. Success lies in preparation and timely action—don’t let the headlines deter you from making the move that’s right for you.

If you’re ready to take the next step, the Jim Stanton Team is here to guide you through every stage of your real estate journey. Reach out today to start planning your path to success in 2025.

Oh, 2024. You were supposed to be the belle of the ball. The great rebound after nearly a year of 5% interest rates. Relief was in sight. Rather than shifting into a shopping spree, the market hit a holding pattern. The GTA saw only 67,610 sales, way off the 77,000 forecasted by the Toronto Regional Real Estate Board.

So what happened?

The reality, given all we faced in 2024, the Greater Toronto Area (GTA) real estate market demonstrated a lot of resilience. Let’s dive into the highlights of the year, exploring key trends, challenges, and what’s next for buyers and sellers.

Did the GTA Real Estate Market Bounce Back in 2024?

Yes, but it wasn’t a straight path. After a challenging 2023, where sales dipped significantly, 2024 saw signs of recovery, particularly in the latter half. Average home prices (all home types) was $1,117,600 a decline of less then 1% from 2023. Improving buyer sentiment in October and November, marked the potential beginning of a rebound. However, with sales coming in under 68,000 (short of the Toronto Regional Real Estate Board’s 77,000 forecast), it’s clear the recovery wasn’t uniform across all market segments.

Was It a Buyers’, Sellers’, or Balanced Market?

2024 was predominantly a balanced market, with inventory levels fluctuating between three and four months’ supply throughout the year. This balance gave buyers greater negotiating power compared to the pandemic-driven frenzy of years past. Buyers could secure financing and inspection clauses more frequently, a shift from the high-pressure sales environment of 2022.

That said, sellers faced challenges aligning with buyer expectations, often resulting in terminated listings. The GTA saw just over 50,000 listings terminate*. To put that in perspective in 2021, there were over 121,000 sales and under 32,000 listings terminated.

*Many listings that terminated and relisted and some did so multiple times.

Where Are Prices Relative to the Start of the Year and the 2022 Peak?

• Start of 2024: Prices ended the year similar to where they began (+3.9%), after a slow year thanks to renewed market activity fueled by interest rate cuts and steady inflation declines.

• 2022 Peak: Prices remain below the market peak of early 2022, but the gap is narrowing, with late 2024 sales showing momentum as borrowing costs eased.

What Drove Market Activity in 2024?

Several factors shaped the 2024 market:

1. Interest Rate Cuts: The Bank of Canada’s five consecutive rate cuts (totaling 175 basis points) played a pivotal role. Declining interest rates spurred some buyers to act while others stood pat waiting for rates to go even lower. By year-end, the overnight rate dropped to 3.25%, significantly reducing borrowing costs for buyers (especially those looking for a variable rate).

2. Inventory Dynamics: Increased inventory meant buyers had more choice and less urgency to come to the offer table. Despite this sellers held their ground and demanded market value for their homes.

3. Easing Inflation: Inflation steadily declined, reaching 2.0% by November, which bolstered consumer confidence.

4. Stalemate Breaking: By mid-fall, a stalemate between hesitant buyers and hopeful sellers began to shift, reigniting transactions in October and November while December remained predictably softer.

What Can We Expect in 2025?

Looking ahead, expect a cautious yet optimistic market:

• More Rate Relief: With further mortgage renewals and easing amortization challenges, buyers may find opportunities to re-enter the market.

• Gradual Price Growth: Prices are likely to continue recovering, particularly in high-demand areas like Durham Region.

• Policy Impacts: New federal programs supporting secondary suites and the removal of the stress test for certain mortgage switches and easing of rules for first-time buyers and uninsured mortgages could boost market activity.

• Most experts predict the 2025 Spring Market will be busier than we’ve seen the last 2 years.

Key Takeaway

For both buyers and sellers, understanding market trends and working with a knowledgeable team is critical. The Jim Stanton Real Estate Team prides itself on guiding clients through these complexities with trust, integrity, and proven expertise. Whether you’re navigating today’s opportunities or planning for tomorrow, we’re here to help.

Ready to discuss your goals for 2025? Let’s connect!

CONTACT US

Selling your home is a big deal, and let’s face it—first impressions matter. You want buyers to fall in love with your home the moment they walk through the door (or even before they set foot inside). So, how do you make your home shine in a competitive market and attract the best offers? Let’s simplify the process together.

Why This Matters: A well-prepared home doesn’t just sell faster—it can also sell for more money. Buyers gravitate toward homes that feel fresh, inviting, and move-in ready. But getting there can feel overwhelming. The key is knowing where to focus your time and energy to get the best results.

Here’s How to Get Started:

1. Declutter and Depersonalize:

   • Buyers want to envision themselves in your home, not feel like they’re visiting someone else’s. Clear countertops, pack away personal items like family photos, and tidy closets to create a clean, neutral space.

   Hack: Use this as an opportunity to start packing for your move. The less clutter, the better your home will show—and you’ll get a head start on moving day!

2. Make Small Repairs and Updates:

   • Fix leaky faucets, squeaky doors, and chipped paint. Small updates like replacing dated light fixtures or adding a fresh coat of neutral paint can go a long way in making your home feel modern and well-maintained.

   Hack: Focus on high-impact areas like the kitchen and bathrooms. Minor improvements here can give buyers the impression that your home has been well cared for.

3. Boost Your Curb Appeal:

   • First impressions start outside. Mow the lawn, trim bushes, plant flowers, and power wash walkways. A tidy, welcoming exterior invites buyers to come inside.

   Hack: A simple update like painting your front door a fresh, modern color can create a standout first impression without a big investment.

4. Stage Your Home to Highlight Its Best Features:

   • Staging helps buyers see the full potential of your home. Rearranging or adding furniture to make rooms look spacious, add cozy touches like throw pillows and fresh flowers, and ensure each room has a clear purpose.

   Hack: When you work with our team you also gain access to the best stagers in Durham Region. We provide a consult and a plan to ensure your home stands out against the competition.

5. Work with a Trusted Realtor:

   • A Realtor’s expertise ensures your home is priced right, marketed effectively, and reaches qualified buyers. We’ll also guide you on where to focus your efforts for the biggest return on investment.

   Hack: Lean on us for vendor recommendations, whether it’s for painters, cleaners, or handy people. Our network can save you time and money.

Want to get a comprehensive guide? Click HERE to download our Complete Home Prep Guide.

Let’s Make It Easy: At the Jim Stanton Team, we’ve helped countless sellers prepare their homes for a successful sale. We’ll guide you through every step—from decluttering to staging to pricing—so you can feel confident and excited about what’s next.

Ready to get started? Let’s schedule a walkthrough of your home, and we’ll create a customized plan to get you the best results. Reach out today!

GET HELP NOW

Have you been daydreaming about your next home, but a big question keeps holding you back: What’s my current home worth, and will it be enough to get the home I really want? It’s a question that’s not just about numbers—it’s about turning your vision for the future into reality. Let’s break it down together.

Why This Matters: Understanding your home’s value and how it translates to your next move is the foundation of your plan. Without clarity, it’s easy to feel stuck in “what-ifs.” But with the right insights, you’ll feel confident taking the next step toward your dream home.

Here’s How to Get Started:

• Start with a Home Evaluation:

  • A professional home evaluation provides a clear picture of your property’s current market value. This includes analyzing recent sales of comparable homes in your neighborhood and evaluating key factors like your home’s condition, upgrades, and location. Our team offers free, no-obligation evaluations to help you get started.

    GET A FREE HOME EVALUATION

• Calculate Your Sale Proceeds:

  • Once you know your home’s value, it’s time to calculate your net proceeds. This means subtracting costs like your remaining mortgage balance, Realtor fees, legal fees, and closing costs. What you’re left with is the equity you can put toward your next home.

  Hack: Consider how timing affects your proceeds. For example, selling in a high-demand season or after key upgrades could boost your bottom line.

• Assess Your Next Home Budget:

  • Combine your sale proceeds with other financial resources (like savings or pre-approval amounts) to determine your purchasing power. A mortgage specialist can help you factor in all the details, from your desired down payment to ongoing monthly costs.

  • GET HELP:  Ask us for a list of great lenders and mortgage brokers who we know provide outstanding service.

    ASK US

• Don’t Forget the Extras:

  • Budget for additional expenses like land transfer taxes, moving costs, and potential renovations. Being prepared means no surprises later.

  Hack: Many first-time sellers overlook land transfer taxes, which vary by location. Use an online calculator or consult your Realtor to get an accurate estimate.

• Work with Trusted Advisors:

  • Whether it’s evaluating your home’s worth or crunching the numbers for your next one, having a knowledgeable Realtor and mortgage advisor on your side is invaluable. We’ll help you see the big picture and make informed decisions every step of the way.

Let’s Make It Easy: At the Jim Stanton Team, we believe in clarity and confidence. That’s why we’re here to help you understand your current home’s value and how it empowers your next move. From evaluations to market insights, we’ll guide you through the process with ease.

Ready to take the first step? Reach out today for your free home evaluation, and let’s start planning your next chapter.

GET HELP NOW

Feeling stuck in the chicken-and-egg dilemma of buying your dream home and selling your current one? You’re not alone. It’s one of the most common questions we hear: "Should I buy first or sell first?" The good news is, there’s no wrong answer—just the right one for you.

Why This Matters:
It’s natural to feel uncertain about timing. Buying first means you might carry two mortgages temporarily. Selling first means you might need temporary housing. Either way, you’re wondering, What’s the safest option for my family and finances?

Here’s How to Decide:

1. Understand the Market:

   • In a seller’s market (where homes sell quickly), it can often be better to buy first. Why? If you sell first, you’ll benefit from the seller’s market, but when it comes time to buy, you’re competing with everyone else in a rising market, and your sale proceeds may not stretch as far. Buying first allows you to tackle the competitive buying situation upfront and then sell with confidence, knowing you have a place to move to.

   • In a buyer’s market (where homes take longer to sell), selling first is often the smarter choice. If prices are trending downward and there are plenty of properties that meet your needs, selling first ensures you secure the most value from your home. It may take longer, but when you transition to buying, you’ll be in a stronger position to negotiate with more options available.

   • In a balanced market (where homes sell in a reasonable time) the choice is yours. We always recommend assessing the volume of homes on the market that meet what you are looking for in your next home. If you find you have a lot of options it can be safe to sell first. If on the other hand, only something specific will do buying first is the way to go.

2. Know Your Finances:

   • If you buy first, explore bridge financing. This short-term loan helps cover the gap between your purchase and sale.

   • If you sell first, work with your Realtor to negotiate a longer closing date, giving you time to find your new home.

3. Consider Your Risk Tolerance:

   • If carrying two mortgages for a short time feels stressful, selling first provides peace of mind.

   • If you don’t want to rush into buying your next home, buying first gives you flexibility.

   • No matter which you choose, whether to buy or sell first you want to know the market conditions and have a plan for a transition in the market. When a seller’s market flips to a balanced or a buyer’s or vice versa it can throw a curve ball in the best-laid plans. That’s where partnering with an expert lender and realtor® becomes even more important.

Let’s Make It Easy:
Still unsure? We’ll sit down with you, review your finances, and help you navigate the local market. Together, we’ll build a plan that ensures you’re confident every step of the way. Give us a call or send us a message—we’d love to help!

GET OUR HELP NOW

November Market Watch: Is the GTA Housing Recovery Gaining Momentum?

With sales up 40.1% year-over-year and borrowing costs trending lower, the GTA housing market is making headlines. But what’s really happening behind the numbers? While buyers are reaping the benefits of choice and negotiating power, sellers are navigating a balanced market with cautious optimism for 2025. Let’s break down the latest stats and what they mean for you.

Market Dynamics

Sales Momentum: November 2024 saw 5,875 home sales, marking a 40.1% increase year-over-year. However, sales dipped 11.76% month-over-month, reflecting the typical seasonal slowdown as the holiday season approaches.

Listing Dynamics: New listings increased by 6.6% compared to November 2023 but declined significantly by 24.4% from October. Meanwhile, active listings rose 30.2% year-over-year but decreased by 10.9% month-over-month, signaling that the market is tightening as inventory gets absorbed.

Price Trends: The average selling price climbed 2.6% year-over-year to $1,106,050, but dropped 2.6% from October. Single-family homes are seeing stronger price growth, while condos remain a buyer’s market with lower average prices and ample options.

Market Status: With 31 days on the market on average, properties are moving at a steady but not rushed pace. The GTA remains a balanced market, where neither buyers nor sellers have a distinct advantage—a trend expected to persist into 2025

What's happening locally? Durham & Toronto Market Insights

Every city/town is unique as are the communities within them. Scroll through to find your town.

Impact of Interest Rates

Impact of Mortgage Rates

The Bank of Canada’s recent rate cuts continue to shape the market. Borrowing costs are trending lower, helping more buyers enter the market or upgrade to larger homes. With another rate cut anticipated in December, purchasing power is expected to strengthen further, fueling competition into the new year.

Condo buyers, in particular, are benefitting from the current environment, with strong negotiating positions and ample inventory providing opportunities to secure favorable deals. 

The next Bank of Canada announcement is on December 11th.

What Does This Mean for Buyers and Sellers?

What Does This Mean for Buyers and Sellers?

For Buyers:

The window of opportunity is still open, but the market is tightening, especially in the detached home segment. Buyers who act now can take advantage of choice and negotiating power, particularly in the condo market, before competition intensifies in 2025.

For Sellers:

While the market is balanced, sellers cannot take for granted that their property will sell without effort. Strategic pricing and preparation are key to standing out as buyers continue to weigh their options carefully.

In Conclusion 

The GTA housing market is showing signs of recovery, with buyers steadily returning and sellers navigating a balanced market. With interest rates declining and inventory tightening, the stage is set for an accelerating market recovery in 2025. Whether you're buying or selling, planning strategically now can set you up for success in the coming months.

Get the Help You Need:

Ready to buy or sell in the GTA? Contact us today for expert guidance and personalized support to navigate this evolving market and make the most of current opportunities.

Call Ben at 905-995-23372 or Jim at 905-409-9967

MORE MARKET INSIGHTS (Markham/Stouffville & Port Hope/Cobourg)

Re/Max & Zoocasa 2025 Predictions

The 2025 housing market is shaping up to be a year of opportunity, especially in the Durham Region and the Greater Toronto Area (GTA). Two recent reports—Re/Max’s 2025 Canadian Housing Market Outlook and Zoocasa’s 2025 Canadian Housing Market Predictions—offer key insights that paint an optimistic picture for buyers, sellers, and investors alike. Here is how they see things playing out in 2025 and some potential tips for buyers and sellers within the Durham Region.

Lower Rates, Higher Demand

Both reports agree: Declining interest rates are expected to be a game-changer. With the Bank of Canada easing rates and new mortgage rules extending amortization periods to 30 years, sidelined buyers are poised to re-enter the market.

👉 First-Time Buyers Surge: Re/Max predicts an influx of first-time buyers, bolstered by improved affordability. This trend will likely drive demand for entry-level homes, such as townhouses, smaller detached homes, and even some condos.

Balanced Markets Dominate in Ontario

While 44% of Canadian markets will favor sellers, Durham Region is part of the 36% of Ontario markets projected to remain balanced.

✅ Durham’s Advantage: A balanced market means fair opportunities for both buyers and sellers. Prices in Durham are forecasted to rise by 5% over 2024 levels likely stimulated by competition amongst first-time buyers and more downsizers.

🏡 Affordability Shifts: 40% of Canadians are open to exploring new neighborhoods to mitigate affordability challenges. This could make Durham an attractive destination for those priced out of Toronto or other high-cost areas.

Downsizing & Inventory Growth

With 1.2 million Canadian mortgages up for renewal in 2025 (per CMHC), many homeowners will look to downsize to smaller, more affordable properties.

👉 Takeaway for Sellers: If you're considering an upgrade from an entry-level home in 2025, now could be an ideal time to prepare, as downsizing demand and an influx in first-time buyers are expected to fuel competition in the smaller detached and townhouse segments.

Opportunities for Condo Buyers

The condo market has faced challenges, particularly in the GTA, where sales hit record lows in 2024. However, as competition heats up in detached and attached housing, condos could see a resurgence as buyers pivot to more affordable options.

Key Takeaways for 2025

1. Buyers: 2025 is your chance to secure a home before interest rates dip further, potentially pushing 44% of markets into seller territory and driving prices up even in balanced markets. Durham’s balanced market offers excellent opportunities.

2. Sellers: With a 5% price increase expected in Durham, listing your home in the spring market could maximize your return. Better yet, beat the inventory to market and get your listing up ahead of your competition this spring.

What’s Next?

Whether you’re buying, selling, or simply planning your next move, 2025 is brimming with potential. If you’re ready to make a move in the Durham Region or GTA, let us guide you through every step.

Looking to downsize or invest? Drop your questions in the comments or contact us today. Let’s make your 2025 real estate goals a reality!

CONTACT OUR TEAM NOW:

• Ben Stanton, Broker @ 905-995-3372

• Jim Stanton, Broker @905-409-9967

• Brian Stanton, Salesperson @416-571-5272

Have the Bank of Canada’s Interest Rate Cuts been enough to stimulate the Fall Market?

As we move into the final quarter of 2024, the Greater Toronto Area (GTA) real estate market remains dynamic, with signs of both stability and uncertainty. While home sales have shown a modest increase year-over-year and new listings are flooding the market, the anticipated impact of recent interest rate cuts has yet to fully materialize. Buyers are benefiting from more inventory and a slightly more favorable mortgage landscape, but sellers face challenges in pricing homes effectively amidst longer days on market. In this recap, we'll explore key market trends, the evolving mortgage environment, and what these changes mean for buyers and sellers as we approach the end of 2024.

Market Summary

Sales Momentum: October’s sales increased by a remarkable 44.4% from 2023 and 33% from the previous month. This impressive growth points to heightened buyer engagement, likely driven by recent interest rate cuts and increasing consumer confidence in a more balanced market.

• Listing Dynamics: New listings rose modestly by 4.3% year-over-year but fell 15.3% from September, hinting that sellers may be holding back due to the approaching holiday season or expectations of better pricing ahead.

• Active Listings: Although active listings were up by 25.3% year-over-year, they decreased by 4.4% from the previous month, showing signs that excess inventory is gradually being absorbed by the market.

• Price Trends: Average home prices showed a 1.1% increase from last year and a 2.5% rise from September, indicating gradual price stability with slight upward pressure as competition picks up.

• Market Status: With 3.68 months of inventory available, the GTA remains in a balanced market, with a sales-to-new-listings ratio of 43%. This offers both buyers and sellers unique opportunities as the market continues to stabilize.

• Time to Sell: Listings spent an average of 27 days on the market, with an overall average selling time of 43 days when you take into account listings that terminated and relisted. This reflects the need for competitive pricing and strategic positioning as buyers weigh their options in a still-saturated market.

What's happening locally?  Toronto Market Insights

Impact of Interest Rates

Mortgage Rate Dynamics and Their Impact

On October 23, 2024, the Bank of Canada made a bold move by lowering its policy rate by 0.50% to 3.75%, the largest cut since the cycle began in June. While many anticipated that this would stimulate home sales, October's market activity hints that the mere expectation of the cut may have already influenced buyers to act. As we approach the Bank’s December 11 announcement, another potential rate cut could further drive purchasing activity, particularly for those with increased purchasing power in a more favorable borrowing environment.

Effect on Variable-Rate Mortgages: For adjustable-rate mortgage holders, this recent rate cut could equate to approximately $30 less in monthly payments per $100,000 of mortgage debt, based on a 25-year amortization. For fixed-payment variable-rate mortgage holders, more of each payment will go toward building equity.

Impact on Fixed Rates: In contrast, fixed-rate mortgage holders may see modest rate hikes, as lenders have started adjusting rates slightly. These incremental adjustments stem partly from recent U.S. elections and market responses.

What Does This Mean for Buyers and Sellers?

What Does This Mean for Buyers and Sellers?

For Buyers:

The surge in sales activity shows competition is heating up, but with a substantial inventory still on the market, buyers continue to have leverage for negotiating and submitting conditional offers. However, this window of opportunity won’t remain open indefinitely, as sidelined buyers are likely to re-enter as rate cuts continue.

For Sellers

For those planning to sell, October’s sales momentum is an encouraging signal. As inventory often slows around the holiday season, there’s potential for fewer listings and increased demand from motivated buyers. If inventory continues to shrink, sellers can anticipate stronger competition and possibly favorable pricing dynamics.

In Conclusion 

With active listings still substantial but gradually reducing the market's balance will depend on whether sales growth continues into the winter months. The next few months will reveal if buyers will jump in now or await further rate cuts, which will likely intensify competition as we move toward spring.

Get the Help You Need:

Ready to buy or sell in the GTA? Contact us today for expert guidance and personalized support to navigate this evolving market and make the most of current opportunities.

Call Ben at 905-995-23372