Where We’re At

The market feels a bit like rush hour traffic, everyone’s going somewhere, but nobody’s in a mad hurry. Homes that show well and are priced with purpose are moving. Others? They’re hanging back with the crowd.

May kept the momentum going, with 6,244 homes sold across the GTA, marking the fourth month in a row of steady gains. It’s still quieter than this time last year (down 13.3%), but the month-over-month climb tells a different story: buyers are watching closely and stepping in when the fit is right.

A Tale of Two Markets

Condos Are Dragging Their Feet
There’s no sugar-coating it, condos are facing a rough stretch. Sales are down 25% year-over-year, and prices have dipped by 7%. With nearly 8 months of inventory on hand, it’s a classic case of too much supply and not enough urgency.

Freeholds Are Holding On
Detached, semi-detached, and townhomes are faring better. While home sales are down 5% from last year, they’re far from frozen. Buyers are showing up for homes with charm, space, and curb appeal, especially under the $2M mark in areas like the East End.

Why It Feels Different This Time

It’s not just about stats, it’s about sentiment.

People aren’t pausing because they’re confused. They’re pausing because they’re cautious. Global uncertainty, job security worries, and economic jitters are making folks think twice before making big moves. But real life keeps rolling, families grow, careers shift, and life moments still drive real estate decisions.

The result? A market that’s slower, but more intentional.

A Fresh Look At What’s Happening

We’ve got headlines screaming doom, but here on the ground, it’s more nuanced. There’s plenty of inventory (especially in the condo world), but detached and semi homes that are move-in ready and well-priced are still drawing action.

This isn’t a market crash, it’s a reshuffle. Buyers have options, and sellers need to be sharp. Strategy matters more than ever.

Advice for Navigating This Market

If you’re buying:
You’ve got leverage, especially if you’re eyeing a condo. But don’t snooze on a standout freehold, competition still shows up when the home hits right.

If you’re selling:
Now’s not the time to test the market. It’s time to meet it. Make it show-ready, price it on point, and work with a team that knows how to bring in the right eyes.

Looking Ahead

We didn’t get a rate drop in early June, just more of the same. And while that doesn’t light a fire under the market, it also doesn’t put it out. Buyers are still moving carefully, but the May numbers show they’re not sitting completely still. Sales are ticking upward, and while it’s not a surge, it’s a sign of quiet resilience.

Heading into summer, it’s less about chasing deals and more about watching for the right opportunity. With more listings to choose from and less competition than usual, savvy buyers who are financially ready could find some real gems.

As always, strategy, not speed, is what wins in this market.

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