📊 Market Snapshot

• Total Sales: 6,244 (-13.3% YoY, +11.5% MoM)

• Average Selling Price: $1,120,879 (-4% YoY, +1.2% MoM)

• New Listings: 21,819 (+14% YoY, +15.8% MoM)

• Active Listings: 30,964 (+41.5% YoY, +13.1% MoM) — the highest in nearly 25 years

• Sales-to-New Listings Ratio: 38%

• Property Days on Market (PDOM): 39 days

• Listing Days on Market (LDOM): 25 days

• Months of Inventory (MOI): 4.96 — indicating a balanced market leaning towards buyers
  

🧠 Top Takeaway

May 2025 marked a significant shift in the GTA housing market. While sales saw a modest month-over-month increase, the surge in active listings to a 25-year high has tilted the market dynamics. With a sales-to-new listings ratio of 38% and nearly 5 months of inventory, buyers are gaining more negotiating power, especially in certain segments.

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.

🏘️ Segment Insights

• Condos: With over 7 months of inventory, condos, particularly 1-bedroom units, remain firmly in a buyer's market. They account for 34% of active listings.

• Detached Homes: Representing 44% of inventory, detached homes have 4.6 months of inventory, indicating a balanced market.

• Townhomes & Semis: These segments continue to stay balanced, offering opportunities for both buyers and sellers.

• Regional Highlights:

  • Durham Region: Balanced market with 3.25 months of inventory.

  • City of Toronto: Leaning towards a buyer's market with 5.23 months of inventory; condo apartments at 7.42 months.

💰 Mortgage & Financing Update

On June 4th, the Bank of Canada held its benchmark rate steady at 2.75% for the third consecutive time, citing economic uncertainties stemming from global trade tensions. Fixed mortgage rates have seen slight increases, with RBC raising its 3, 4, and 5-year fixed rates by 5 basis points.

🧭 Guidance for Buyers & Sellers

Buyers:

• More Options: The surge in listings provides a broader selection. Take your time, conduct thorough due diligence, and don't rush decisions.

• Upgraders: Ensure you have a clear understanding of the financial implications of selling and buying in the current market.

• Downsizers: Smaller detached homes and townhouses are seeing increased competition as they align better with buyer purchasing power.

Sellers:

• Preparation is Key: With increased competition, focus on the 3 Ps: Preparation, Price, and Promotion.

• Entry-Level Homes: Still in demand.

• Larger Detached Homes: Be prepared for a longer selling window. Strategic pricing and marketing are essential.
  

🔮 Market Outlook

The GTA housing market is experiencing a transition. While certain segments remain competitive, the overall increase in inventory provides buyers with more leverage. Sellers need to adapt to the changing dynamics by ensuring their properties are well-prepared and competitively priced.

Need personalized advice? Whether you're buying, selling, or just exploring your options, we're here to help you navigate the evolving market landscape.

👉 Contact Us for a consultation tailored to your needs.

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

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

Updated for 2025

Hey foodies and adventurers! Brian here, one of my favourite foods is ribs. Sauced up and fall off the bone. I don't have them often but I almost always get some at one of Durham Region's Summer Ribfests. If you're a barbecue lover, you're in for a treat because Durham Region is heating up with its finger-licking, lip-smacking RibFest events now! 

Durham Region's RibFest Events feature a mix of tantalizing barbecue and craft beer vendors from across the region and beyond. In addition to ribs and BBQ, many offer a wide array of food options, a midway experience full of rides and carnival games, craft beer options, and even shuttle services to get to and from the grounds.

Grab your napkins, mark your calendars, and get ready to embark on a mouthwatering journey through the region's finest rib festivals. Let's dive in!

📍 Pickering RibFest

• 📅 Dates: June 14–16, 2025

• 📍 Location: Esplanade Park, 1 The Esplanade, Pickering

• 🕛 Time: 12:00 PM daily

• 🎶 Highlights: Live performances from bands like The Spiral Theory and Kickstart Band.

• 🍗 Ribbers: Bone Daddy's, Sticky Fingers, Gator BBQ, Camp 31, Hawgs Gone Wild, Billy Bones, Silver Bullet

• 🎟️ Admission: Free

• 🌐 More Info: pickeringribfest.ca

📍 Whitby RibFest PLUS

• 📅 Dates: July 11–13, 2025

• 📍 Location: Victoria Fields, 345 Watson St W, Whitby

• 🎶 Highlights: Kick off the weekend with "A Concert for Our Community" featuring Big Wreck on Friday, July 11. This ticketed event includes live music, food trucks, vendors, and one ribber inside the concert area. Gates open at 5:00 PM, show starts at 6:00 PM .

• 🍗 Ribbers: Five ribbers available in the Public Rib Zone on Friday (no ticket required), with the full lineup on Saturday and Sunday.

• 🎟️ Admission: Friday concert: $49.99; Saturday & Sunday: Free

• 🌐 More Info: whitbyribfest.comshowpass.com+3whitbyribfest.com+3whitbyribfest.com+3whitbyribfest.com+1whitbyribfest.com+1instagram.com+2facebook.com+2whitbyribfest.com+2

📍 Clarington RibFest

• 📅 Status: Cancelled for 2025

• 📍 Location: Previously held at Garnet B. Rickard Recreation Complex, Bowmanville

• ℹ️ Note: The event is on hiatus due to venue issues but hopes to return in the future .

📍 Oshawa RibFest

• 📅 Dates: TBA

• 📍 Location: Lakeview Park, 55 Lakeview Park Ave, Oshawa

• ℹ️ Note: Details for 2025 are yet to be announced. Stay tuned for updates.

So there you have it, folks – a rundown of Durham Region's sizzling RibFest events! Whether you're a local foodie or just seeking delightful experiences, these festivals are a smokey and sweet BBQ journey you don't want to miss. Plan your visit, bring your family and your appetite, and get ready to feast on some of the best ribs around. Happy RibFest-ing!