A decent month of sales in August with 5,211 homes being sold through the MLS system, up 2.3 per cent compared to August 2024. New listings were also up and that meant that buyers had more choices and opportunities to negotiate. The average home price year to date stands at $1,080,118, compared to the start of the year which was $1,120,266 a drop of 3.6%.   Again, keep in mind these are averages so if a lot of multi-million-dollar homes sell in one month or a lot of condominiums, the average price fluctuates. 

In August, sellers who priced their homes competitively sold at 97% of the asking price, but it did take longer, 33 days once the asking price was within 5% of market value. In other words, if a seller listed his home for sale at 10% over market value it did not sell till the price was adjusted to 5% of market value.

As interest rates continue to drop and people adjust to the impact of the tariffs, more buyers will enter the marketplace and that inventory of homes for sale will start dropping.

Without a doubt, the market is more challenging than it was before and great opportunities exist both for buyers and sellers, but one needs a full-time experienced realtor to help navigate the opportunities. That’s where I come in! Remax sells approximately 1 out of 4 houses on the Toronto Real Estate Board. You can be confident we know what we are doing.

If you are considering selling or taking advantage of some of the opportunities out there, give me a call and let me put my experience and the power of Remax behind you!

Have a great September and remember, I am never too busy for your referrals.

Your Friend in Real Estate.

Ps, If you hear of anyone thinking of buying or selling, let me know I would love to help.

Jordan Glaser

416-560-4468