Igor Kounti Royal LePage Your Community Realty

02/07/2025

Toronto Real Estate Market Update – January 2025

As we step into the first month of 2025, the Toronto real estate market continues to evolve, and current data paints an insightful picture for prospective buyers, sellers, and investors. Based on the latest Toronto Regional Real Estate Board (TRREB) market statistics and additional insights from CMHC, there are several key trends to watch as we navigate this new year.

Sales and Listings Activity

According to the most recent TRREB data, the total number of sales across all home types in Toronto reached 1,386 for January. This marks a positive shift with an increase in sales month-over-month, indicating an uptick in buyer activity as we move through the winter market.

On the flip side, active listings saw a significant rise, with 6,920 properties currently available on the market. This increased inventory offers more options for buyers, but also signals that sellers may need to be more competitive in their pricing strategies to attract attention.

Days on Market

On average, properties in Toronto spent 57 days on the market before selling. This is a slight increase compared to the previous month, which suggests that while buyers are actively engaging, the market is taking a bit more time to absorb available listings. Sellers should take note of this trend, as it may impact how long it will take to sell their homes at desirable prices.

Average Sales Prices

The average sales price for all home types in Toronto stands at $985,653. However, breaking this down by property type provides a clearer view of the market dynamics:

• Detached homes remain the priciest, with an average price of $1,579,386.

• Semi-detached homes are holding strong at an average of $1,154,505.

• Townhomes/Rowhouses follow closely at $1,182,597.

• Condos continue to offer the most affordable option in the city, with an average price of $691,039.

The slight drop in the average sale price month-over-month suggests that buyers may have a bit more negotiating power in today’s market. However, it’s important to consider that prices are still robust, especially in high-demand neighborhoods.

Condos and Affordability

The Toronto condo market remains a critical sector for first-time buyers and investors alike. With the average condo price at $691,039, condominiums continue to be the most accessible property type for many, especially those looking to enter the Toronto real estate market for the first time. The affordability of condos is a vital factor in maintaining demand, particularly for those looking to balance proximity to urban centers with a lower price point.

According to CMHC data, affordability challenges still persist in Toronto, but a growing number of buyers are opting for condos as a compromise between cost and lifestyle. The condo market also benefits from investors seeking long-term rental income opportunities, as rental demand remains high due to the city’s population growth and immigration trends.

What Can We Expect Moving Forward?

With increased active listings and longer days on the market, it’s clear that Toronto’s real estate market is experiencing some shifts. Sellers may need to be more strategic, pricing properties in line with market realities while ensuring homes are in top condition to stand out to potential buyers.

For buyers, particularly those entering the market for the first time, 2025 may present some unique opportunities, especially if inventory levels continue to rise. CMHC projects some moderation in price growth, which could make Toronto’s notoriously competitive market slightly more accessible.

My Final Thoughts

January 2025 shows us that the Toronto real estate market remains dynamic, and while we’re seeing slight softening in prices, Toronto’s strong fundamentals such as population growth, high demand for housing and continued investment interest will likely keep the market active. Whether you’re buying or selling, staying informed on the latest market trends is crucial to making well-timed and informed real estate decisions.

For personalized advice or more detailed insights into your buying or selling journey, feel free to reach out to discuss your real estate needs. I’m a phone call away to help you make decisions that will position you to achieve your real estate goals.

Kind regards,

Igor

12/26/2024

BOXING DAY DEAL
CAN-USA-MEX
200gigs
50$/month

https://www.bell.ca/Bell-Promotions/Boxing-Week?EXT=MOB_PDL_Google_kwid=p81227227178&gclsrc=aw.ds&gad_source=1&gbraid=0AAAAAD_SSjZ893CO3n0jXcPZEdmJko4aE

09/20/2024

In just 72 hours, three significant developments have set the stage for a potential surge in Canada's real estate market, creating a golden opportunity for buyers. First, Ottawa introduced a major loosening of mortgage insurance rules. Second, inflation fell below the two percent target, surprising economists. Third, the U.S. Federal Reserve delivered a large rate cut, sparking market optimism.

These shifts are poised to bring buyers back to the table, and now is the time to act. The changes in mortgage insurance alone are game-changers:

- The maximum allowable home value for insured mortgages will increase by 50% (from $1 million to $1.5 million), finally reflecting the sharp rise in home prices since 2012.
- Buyers of new builds will now have access to 30-year amortizations, creating a more flexible and liquid market for new homes, which is crucial for boosting construction.
- First-time buyers will also benefit from 30-year amortizations, making it easier for those without large down payments to enter the market.

These adjustments will attract more buyers and stimulate the market, creating a favorable environment for both sellers and buyers. Don’t miss this chance. Get in touch with me. It will be my pleasure to guide you every step of the way to achieve your goals in this exciting market!

Igor Kounti
[email protected]
416.768.5861

09/16/2024

Exciting updates are coming that could make homeownership more accessible:

30-Year Amortizations: First-time buyers and those purchasing new builds can now extend their mortgage over 30 years (up from 25 years). This means lower monthly payments and more room in your budget!

Higher Insured Mortgage Cap: The insured mortgage limit will increase from $1 million to $1.5 million. In high-priced markets, this will allow buyers to put as little as 5% down on homes worth up to $1.5 million, making it easier to get into the market sooner.

Why does this matter?
- Lower payments = more flexibility.
- Higher cap = easier access to homes in pricey areas like Toronto.
- It’s especially helpful for young Canadians navigating high home prices.

When does this start?
- These changes take effect on December 15, 2024, so if you’re thinking of buying, now is the time to start planning!

While these updates aim to help more Canadians, there are concerns they may not fully address the challenges in rapidly rising markets.

Stay informed, and feel free to reach out to plan your home-buying journey!

Igor Kounti
Cell: 416.768.5861
Email: [email protected]

09/05/2024

Toronto Real Estate Market Update: August 2024 - A Step Towards Affordability

The real estate market in the Greater Toronto Area (GTA) showed signs of becoming more accessible in August 2024, with home prices showing a slight decline and new listings remaining stable. While sales were down on a year-over-year basis, the market’s dynamics indicate that a shift is underway—especially with recent developments like the Bank of Canada’s rate cut in September.

As your trusted real estate expert, Igor Kounti, I’m here to break down the latest market trends and help you navigate the opportunities presented by these changes.

GTA Housing Market Insights

According to the Toronto Regional Real Estate Board (TRREB), home sales in the GTA were slightly down by 5.3% in August 2024 compared to the same month in 2023. REALTORS® reported 4,975 home sales, down from 5,251 last year. On a positive note, the number of new listings increased slightly, up by 1.5%, with 12,547 properties entering the market.

This increase in inventory, combined with only a modest decline in sales, signals a well-balanced market for buyers. More importantly, the average price of a home in the GTA in August 2024 was $1,074,425, down by just 0.8% from last year. This slight dip in prices makes it an excellent time for buyers, particularly first-time homebuyers, to enter the market.

How the Bank of Canada Rate Cut Impacts You

One of the most significant developments to note is the Bank of Canada’s rate cut announced on September 4, 2024. This change is particularly important for those with variable-rate mortgages. Lower borrowing costs can lead to a further improvement in affordability.

According to TRREB President Jennifer Pearce, first-time buyers are most sensitive to changes in borrowing costs, and as mortgage rates continue to trend lower this year and into 2025, we should see increased activity in the condo market and among those looking to buy their first homes.

This means that if you’ve been on the fence about buying, now could be the perfect time to start exploring your options with me. I’ll help you navigate these market conditions and find the best opportunity for your budget and lifestyle.

August Market Breakdown: City of Toronto

Focusing on the City of Toronto, the average sales price for all home types in August 2024 was $1,029,069, with homes spending an average of 47 days on the market. Toronto saw 1,718 sales and had 8,625 active listings available. Compared to the broader GTA, Toronto’s market conditions are still competitive, but the increasing number of listings offers buyers more choices and leverage.

If you’re considering buying in Toronto, the extra inventory gives you a great chance to shop around, and with interest rates heading lower, your mortgage payments could be more affordable than expected.

Looking Ahead: What to Expect in 2025

As Jason Mercer, TRREB’s Chief Market Analyst, stated, as borrowing costs continue to fall, homebuyers will benefit from both lower mortgage payments and more moderate price growth in the short term. However, once demand starts to rise in 2025, this inventory may start to shrink, which could eventually lead to higher prices.

The takeaway? Now is the time to act. With more listings available and prices holding steady, you can take advantage of the current market conditions before competition intensifies.

Igor Kounti: Your Real Estate Partner in Toronto

Navigating the Toronto real estate market can be complex, but you don’t have to do it alone. As a dedicated real estate professional, I’m committed to helping you make your dreams come home. Whether you’re a first-time buyer, looking to upgrade, or an investor interested in Toronto’s dynamic market, I have the experience, insights, and connections to help you make the best decisions.

Contact me today to learn more about the current market opportunities or to schedule a consultation. Let’s make 2024 the year you find your perfect home.

Stay updated with more insights and Toronto real estate trends by following my blog or subscribing to my newsletter. Together, we’ll turn your real estate dreams into reality.

Key Highlights of the August 2024 Toronto Market:

• Average Sales Price: $1,029,069 (down slightly from last month)
• Average Days on Market: 47
• Number of Sales: 1,718
• Active Listings: 8,625

Let me help you navigate this evolving market! Reach out to Igor Kounti today—Toronto’s real estate agent of choice.

This blog post serves as both an informative update and an invitation to connect with, Igor Kounti, for personalized real estate services. Let’s make your Toronto homeownership dreams come true!

Igor Kounti • Real Estate Expert
Royal LePage Your Community Realty


416 768-5861

01/26/2022

https://www.cbc.ca/news/business/bank-of-canada-rate-decision-1.6328104

12/31/2021

Wishing all a healthy, happy prosperous new year! ❤️‍🩹🎄🍾🎊🎉

04/30/2021

Trouble getting approved by a few %?

Maybe it’s because you’ve used HELOC. Go to your bank and ask them to convert the HELOC into a 2nd mortgage.

How will that help?
Outstanding balance on HELOC is calculated based on benchmark rate 4.79% rather than actual interest rate minimum payment.
Converting into a 2nd mortgage will help you avoid getting stress tested and therefore a lower monthly debt can be used to calculate your ratios.

03/02/2021

Dear friends,

During the last 12 months, our attention and energy has been monopolized by the COVID-19 Pandemic. However, this too shall pass.

Throughout all this, Real-Estate investment remains a powerful wealth building asset.

If you bought a Property in the past, there's a good chance that your property appreciated significantly in value. There are ways to unlock this capital, reinvest it and position yourself for continued success.

If you are growing or would like to to grow your investment portfolio, you may now be able to access up 80% of the current value of your property to reinvest in an income property. Reach out to me and find out how.

Mortgage rates are historically low and the downtown Toronto condo market is attracting buyers with its reduced prices.

Whether you're a returning client or someone new, it would be my pleasure and honour to have the opportunity to work for you.

My promise to you is to always put your needs first, providing you with up to date instrumental information along with advice.

Get ahead of the curve in 2021.

It’s your turn to make your dreams come home.

Igor Kounti • Real Estate Expert
Royal LePage Your Community Realty
(416) 768-5861
[email protected]

01/17/2021

Heritage sites threatened.

1881 signatures are still needed! Save The Foundry - Respect Local Planning

12/18/2020

If you’re looking for an Apple Watch deal, head over to Staples.

11/26/2020

Rogers launched its Black Friday deals, including discounted plans and phones as well as bundles with AirPods and more.