August: Central Toronto Market Update

September 3, 2026

The Central Toronto real estate market continues to find its footing, with fewer new listings coming to market and buyers taking a thoughtful approach to their next move.

According to the latest Toronto Regional Real Estate Board (TRREB) report, the Greater Toronto Area saw 5,057 home sales in August 2026, down 2.1% from August 2025. New listings also declined, with 12,075 properties coming to market, 14.1% fewer than the same time last year. The average selling price was $993,410, down 2.7% year-over-year.

For buyers and sellers in Central Toronto, these numbers point to a market that continues to offer opportunities on both sides. Buyers may have fewer properties to choose from, but they can still take their time and be selective.

What This Means for Sellers

For sellers, the lower number of new listings means there may be less direct competition in some segments of the market. That does not necessarily translate into higher prices or a faster sale, but it does create an opportunity for well-positioned properties to stand out. The average GTA selling price remained below last year’s level in August, and buyers continue to be thoughtful about where they spend.

For homeowners considering a move, understanding the current competition is therefore particularly important. Strategic pricing, thoughtful presentation and strong marketing can help a property make the most of the attention available in today’s market.

For Buyers, Timing Remains Personal

The August numbers do not point to a single answer for buyers trying to decide whether to move now or wait. Fewer listings may mean less choice, while relatively modest sales activity can still provide opportunities to negotiate depending on the property.

For buyers watching the market, it may be more useful to focus less on predicting where prices will go and more on understanding the opportunities in front of them: what’s available, how properties are priced and how much competition there is for the homes they’re considering.

The right opportunity is ultimately personal. For some buyers, today’s market may offer the time and negotiating room to make a thoughtful decision rather than feeling pressured to act.

Looking Ahead to Fall 2026

August brought fewer sales and fewer new listings compared with last year, while prices remained below 2025. How the market develops from here will depend in part on whether buyer confidence strengthens and how much new inventory comes to market.

For Central Toronto homeowners and buyers, the broader GTA numbers provide useful context, but they are only part of the picture. Conditions can vary considerably between neighbourhoods, property types and price points. That local picture is often where the most useful opportunities can be found.

If you’re considering a move, or simply want to understand what the latest numbers mean for your neighbourhood, our team is always happy to provide a more local perspective. Reach out to us at clientcare@lomeirwin.com.

A Summer Opportunity for Toronto Buyers

June 10, 2026

If you’re considering a move to neighbourhoods like Lytton Park, Lawrence Park, Allenby, or Forest Hill, this summer may offer an opportunity that wasn’t available just a few years ago.

The latest Toronto Regional Real Estate Board (TRREB) data shows a market that is gradually gaining momentum. Home sales increased in May compared to last year, while fewer new listings came to market. While buyers continue to have choice, the market is showing signs of becoming more competitive than it was earlier in the year.

Buyers Have More Breathing Room:

For much of the past decade, buying a family home in Midtown Toronto often meant competing against multiple offers, making quick decisions and accepting significant uncertainty. Today’s market feels different.

While desirable homes continue to attract attention, buyers generally have more time to evaluate properties, conduct inspections, review financing and make thoughtful decisions.

Prices Have Stabilized While Inventory Remains Available:

Although prices in Toronto’s most sought-after neighbourhoods remain strong, the rapid price growth seen during previous market cycles has moderated. For buyers who have been waiting for more choice and less pressure, the current environment offers a more balanced experience.

Summer Creates Unique Opportunities:

Many buyers focus their search during the spring market. By July and August, attention often shifts to vacations, summer activities and preparations for the upcoming school year. While serious buyers remain active, the overall pool of competition frequently becomes smaller. This can create opportunities for buyers who are prepared and ready to act.

We’ve often found that some of the best opportunities arise during periods when fewer buyers are actively searching, particularly in established family neighbourhoods where inventory is limited and quality homes rarely stay available for long.

What We’re Watching

The May TRREB data showed two important trends: sales activity increased while new listings declined. When demand begins to strengthen and supply starts to tighten, market conditions can shift relatively quickly.

The best time to buy is when the right home, neighbourhood and financial circumstances align for you or your family. That said, the current market offers some stability. Interest rates have become more predictable. Buyers have more choice than they had during previous market peaks. For buyers planning a move this year, the current market may offer a compelling combination of choice, stability, and opportunity.

For personalized guidance on how to navigate the summer market, reach out to us at lomeirwin@clientcare.com

The Bank of Canada Held Its Interest Rate at 2.25%

June 10, 2026

When the Bank of Canada makes an interest rate announcement, one of the first questions we hear from clients is: “What does this mean for me?”

Today’s answer is relatively straightforward: Today’s decision won’t suddenly make homes more affordable or dramatically increase purchasing power. What it does do is reinforce the stability that has been returning to the market, giving buyers greater confidence to move forward with their plans instead of waiting for the next rate announcement.

While rate decisions always generate headlines, what’s often more important for buyers and sellers is the confidence that comes from a predictable lending environment. After several years of rapid rate increases, uncertainty became one of the biggest challenges facing the housing market. Buyers were hesitant to commit. Sellers were unsure how the demand might shift. Mortgage costs seemed to change every few months. Today, we’re operating in a different environment.

Stability Is Bringing Buyers Back

Across Toronto’s family-oriented neighbourhoods, we’re seeing many buyers become more active; not necessarily because rates are low, but because they are more predictable.

When financing costs become more stable, buyers can spend less time trying to predict the next Bank of Canada announcement and more time focusing on finding the right home.

For many families, waiting for the “perfect” rate is no longer the primary focus. Instead, they’re asking practical questions regarding neighbourhood suitability, practical needs and affordability.

What This Means for Sellers

For homeowners considering a move, today’s announcement is another signal that buyer confidence continues to improve.

Serious buyers remain active, particularly in established neighbourhoods where demand remains strong due to desirable schools, walkable streets, parks, and access to transit. The reality is that life doesn’t stop because interest rates change. Families continue to grow, job opportunities arise and housing needs evolve. Those factors continue to drive real estate decisions regardless of the rates.

The Bigger Picture

Rate announcements matter, but they’re only one piece of a much larger picture.

Your timeline, financial comfort level and long-term plans will always have a greater impact on your decision than trying to perfectly time the market.

Our Take

Today’s announcement doesn’t dramatically change the Toronto housing market, but it provides a sense of consistency and predictability.

As we move through the remainder of the year, we’ll continue to watch economic indicators, mortgage trends and local market activity closely. But for now, today’s announcement reinforces what we’re already seeing; a market that is gradually adjusting to a more stable environment.

If you’re wondering how today’s rate decision might impact your plans, we’d be happy to discuss your specific situation and help you understand what it means for your next move. Reach out to us at clientcare@lomeirwin.com

Bank of Canada Holds at 2.25% Here’s What It Means for Today’s Market

April 30, 2026

Yesterday, the Bank of Canada held its overnight rate at 2.25%.

It may not sound like big news but for many of the families we’re speaking with, it matters. After a stretch of constant change, a steady rate gives people the chance to slow down and make decisions based on where they’re headed, not where rates might go next.

Why the pause?
The Bank is being careful. There are still a lot of moving parts globally, from energy prices to ongoing uncertainty around U.S. trade and those factors don’t settle overnight.

Inflation came in at 2.4% in March and could stay a bit elevated in the short term, mainly due to gas prices. The goal is still 2%, but the Bank has made it clear they’re in no rush to force it. For now, they’re holding steady and watching how things unfold.

A calmer pace
Buyers are out there, but the urgency has faded. People are taking their time, doing their homework and focusing on finding the right home rather than just securing something quickly.

More homes to choose from
Sellers who were waiting for a clearer moment are starting to step in. We’re seeing more thoughtfully prepared homes come to market, which is giving buyers better options than they had last year.

A more even dynamic
It’s one of those rare periods where both sides feel comfortable. Sellers are achieving fair value and buyers have room to be selective.

We often say that trying to perfectly time the market rarely works. What does work is making a move when it aligns with your life.

Right now, there’s a bit more clarity than we’ve had in a while, which makes it easier to plan. If you want to talk through what this might mean for you or your neighbourhood, we’re always here for a conversation.

Reach out to us at clientcare@lomeirwin.com

The Early Spring Buyer Advantage

March 4, 2026

There is a particular moment in Toronto’s real estate calendar that tends to pass quietly. Winter has begun to recede, sidewalks are busier and the city is shifting its attention toward spring. Early spring is when the real estate market starts to reawaken. For buyers who are paying attention, this period can offer an advantage that is both subtle and significant.

By March and early April, listings are returning to the market with greater consistency. Sellers who waited out the winter are ready, homes are beginning to show at their best and inventory is building. Yet buyer activity has not fully caught up. The urgency and intensity that define late spring have not yet taken hold, creating a brief window where choice exists without chaos.

The Slower Pace Creates Better Decisions

The change of pace matters. Early spring allows buyers to approach the process with intention rather than reaction. There is time to view homes more than once, to consider layout and light and to weigh options against long-term needs. Decisions are made with greater clarity because the pressure to act immediately is reduced. In a market that often rewards speed, early spring can reward a more thoughtful approach.

Sellers are Ready to Move Forward

Sellers active at this time of year tend to be prepared and purposeful. Many are moving within a set timeline, tied to work changes, family planning, or an already-secured next home. As a result, conversations feel more structured. There is often flexibility around possession dates and terms. Negotiations are less likely to be shaped by emotion or urgency alone.

Learning from the Market Before it Accelerates

Watching how new listings are priced, how long they stay on the market, and which homes generate interest provides valuable insight and perspective for buyers. Patterns begin to emerge. Buyers gain a clearer understanding of what represents strong value and what may be driven more by optimism than reality. By the time the market accelerates, early spring buyers are better informed and more confident in their decisions.

Advantages for Families

For families, the benefits are both practical and personal. Purchasing earlier in the season creates space to think ahead rather than react. It provides time to coordinate a summer move, ease through school transitions and plan renovations without stacking everything at once. With fewer overlapping pressures, the experience feels more measured and far more manageable, which can make all the difference during a significant life transition.

When Buyers Can Truly Experience the Area

There is also a subtle emotional shift that comes with early spring. As daylight stretches and natural light returns, homes feel brighter and more open. Streets become walkable again, front gardens reappear and neighbourhood rhythms start to surface. Buyers can picture morning routines, after-school walks and summer evenings with greater clarity than they could in mid-winter, without the urgency that often defines peak spring.

Moving Before the Rush

The early spring market requires readiness and a willingness to act before the broader crowd arrives. For buyers who value calm over competition and clarity over urgency, it offers a rare opportunity.

In real estate, timing is often discussed in terms of moving faster or waiting longer. Sometimes the real advantage lies in moving before the rush.If you’re looking for specific market advice, reach out to us at clientcare@lomeirwin.com.

Transmission Unit Failures Affecting Some Toronto Homes

January 8, 2026

Recently, many Toronto homeowners have experienced failures with water meter transmission units which has resulted in water bills with estimated amounts.

A simple check and reporting of your water meter can ensure that your utility bill reflects your actual usage. In some cases, reported accurate numbers have even resulted in refunds to customers!

How Water Billing Works in Toronto

In Toronto, residential water bills are typically based on readings transmitted automatically from your home’s water meter. Recently, many transmission units have not been working properly.

Many homeowners may not realize their bill is estimated unless they review it carefully or receive a notice from the city requesting a manual meter reading.

Customers who receive a notice asking that they submit an actual water meter reading can provide this information online through a new feature in the Utility Account Lookup. This is specifically for customers whose Meter Transmission Unit (MTU) has stopped sending water usage data.

The City is notifying affected customers on a billing-period-by-billing-period basis. If your MTU is affected, you will receive a scheduled notification letter that includes a deadline date to submit your actual meter reading.You can also submit your reading by phone or in-person. Here’s how:

Submit a Water Meter Reading Online

The online submission feature will remain available until the deadline specified in your notification letter or email. Be sure to submit your reading before this date to ensure your next bill is based on an actual reading. CLICK HERE to find out more.

Subscribe to email notification for meter readings
You may subscribe to email notifications to receive future meter reading notifications. CLICK HERE

Submit a water meter reading by phone

Dial 311 – Tax & Utility Inquiry Line, select one for Estimated Water Bill.

A customer service representative will take your contact, account and water meter reading information.

Submit a water meter reading in-person

Visit an Inquiry & Payment Counter.
Be sure to record or photograph your water meter before your visit.
Customer service representatives will take your contact, account and water meter reading information.

A Proactive Habit for Responsible Homeownership

Checking your water meter every three months is an easy way to stay informed and to ensure that your billing is accurate. With recent transmission unit failures affecting some Toronto homes, this small step is more important than ever.

Proactive maintenance and regular checks help avoid surprises and support responsible homeownership.If you ever have questions about homeownership costs, city notices, or how to stay ahead as a Toronto homeowner, we’re always happy to help. Reach out at clientcare@lomeirwin.com

What Ontario’s New Bill 60 Means for Realtors in 2025: Opportunities, Risks, and How to Stay Ahead

December 19, 2025

With the recent passage of Bill 60 the Fighting Delays, Building Faster Act, 2025, Ontario has launched one of its most significant housing reforms in years!

Designed to accelerate development, simplify planning processes, and overhaul key rental-housing rules, the legislation is set to reshape the province’s real estate landscape.

Most of the attention so far has been on what this means for tenants and landlords, but anyone involved in the housing market will feel the impact. Bill 60 could influence where new homes get built, how quickly projects move forward, and how the rental market functions in the years ahead.

Here’s a clear, easy-to-understand breakdown of what Bill 60 means for the Toronto real estate market.

1. Faster Development Approvals

One of the main goals of Bill 60 is to speed up how quickly new housing projects get approved. By reducing delays, giving the province more authority, and simplifying some zoning rules, the process becomes much more efficient.

What this means for the market:

More mid-rise and high-rise buildings, especially near major transit lines
Developers moving from planning to construction more quickly
More predictable rules across municipalities, making it clearer where future growth will happen

As a result, more homes and condos will enter the market sooner, giving buyers more options and creating new opportunities in emerging neighbourhoods.

2. Faster Oversight for Investment Properties

Bill 60 also brings significant changes to the rules that govern renting and evictions. These updates aim to speed up the process at the Landlord and Tenant Board and create more certainty for landlords.

Key changes include:

Faster eviction processes for non-payment of rent
Shorter notice periods
Quicker, more structured Landlord and Tenant Board hearings
Fewer requirements for landlords when they need a unit back for their own use

Whether viewed positively or negatively, these changes lower the perceived risk of owning a rental property.

How this may affect the market:

Smaller investors who stepped away during years of delays and uncertainty may return to the condo market
Larger investors may see Ontario as a more predictable, stable place to invest
More rental units may be renovated, repositioned, or upgraded

Overall, the investment landscape becomes more appealing, which could lead to increased activity in Toronto’s condo and rental markets.

3. Emerging Hotspots Around Transit and Growth Corridors

Bill 60 prioritizes faster development in areas that the province has identified for growth, especially neighbourhoods connected to major transit lines.

Areas to watch include:

TTC and GO Transit expansion zones
Future Ontario Line stations
Municipalities within designated provincial growth areas
Neighbourhoods where zoning rules previously slowed development

These locations are likely to experience:

Rapid population and housing growth
New condo and mid-rise launches
More competitive pricing in early stages
Increased interest from investors looking for long-term value

For buyers, this opens the door to promising up-and-coming neighbourhoods. For anyone tracking market trends, staying informed about transit plans and municipal updates will offer a meaningful advantage.

4. A Revitalized Market for Buyers and Sellers

Even though more housing is expected in the coming years, it won’t instantly balance the market, but it will shape how people make decisions.

For buyers, this may mean:

More options in certain segments, especially condos and new builds
Less pressure to rush, with more units becoming available
Growing interest in pre-construction and emerging neighbourhoods tied to transit

For sellers, this may mean:

Increased competition, particularly in the condo and new-development space
The need for strategic pricing and strong marketing to stand out

What does it mean for established segments?

Overall, these changes mean buyers and sellers may need to look for more guidance. Understanding how Bill 60 affects future supply and neighbourhood growth becomes essential for making confident decisions.

5. More Data and Regulation

As more legislation impacts planning, zoning, and tenancy, clients expect their realtor to:

Understand the regulatory landscape
Interpret development timelines
Explain risks and benefits for investors
Provide neighbourhood growth projections
Anticipate how supply will shift over 3-10 years

Final Thoughts: Bill 60 Marks a New Chapter for Ontario Real Estate

Bill 60 introduces changes that will shape the housing market for years to come – from how quickly new homes are built to how investors, buyers, and sellers make decisions.

It will bring new opportunities, new neighbourhood growth, and a shifting landscape that will influence pricing, supply, and the overall feel of communities across the province.

For anyone navigating the market, understanding these changes can help you make informed decisions.

Our role is to stay on top of these developments, watch how they unfold across Toronto, and guide you through the decision-making as they impact your plans.

As the market evolves, having clear advice and up-to-date insights becomes more valuable than ever. If you have questions about how Bill 60 may affect your neighbourhood, your home value, or your next move, we’re here to help.

Reach out to us at clientcare@lomeirwin.com

Globe & Mail – Done Deals: North Toronto home sells after asking price cut twice| Published April, 2023

April 14, 2023

44 Sherwood Ave., Toronto

Asking price: $2,589,000 (March, 2023)

Previous asking prices: $2,749,000 (June, 2022); $2.9-million (May, 2022)

Selling price: $2,589,000 (March, 2023)

Previous selling prices: $1,212,000 (September, 2013); $902,500 (July, 2006); $462,000 (November, 2003)

Taxes: $10,180 (2022)

Property days on market: 47

Listing agents: Carol Lome and Brayden Irwin, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division

The action

The kitchen has been updated with bench seating and stainless steel appliances.

This four-bedroom house only collected one offer over six weeks on the market last spring, even after the asking price was reduce from $2.9-million to $2.749-million. The sellers turned that offer down and decided to bide their time. A spike in sales this March pushed them to relist at a new price of $2,589,000. Within days, they had three bids, one of which met their target price.

“Right as the market was starting to shift and rates were starting to rise, the sellers weren’t prepared to sell it, so we took it off the market,” said agent Brayden Irwin.

“At the end of January, the Bank of Canada announced they were going to hold interest rates, so all of a sudden, we started to see more activity on the buy side. And for the first time in a while, we saw properties selling fairly quickly in multiple offer [scenarios], so we thought it was a good time to bring the property back to the market.”

There are two entertaining areas on the main and lower levels.

What they got

This two-storey house was built in the 1940s and has been recently modernized with hardwood flooring throughout and an updated kitchen with bench seating and stainless-steel appliances.

There are two entertaining areas on the main and lower levels.

The major attraction upstairs is a primary bedroom with sky lights, a walk-in closet and the largest of the home’s four bathrooms, plus a deck overlooking the back yard and the larger deck and stone patio below.

The 25- by 185-foot lot also offers parking.

The major attraction upstairs is a primary bedroom with sky lights and a walk-in closet.

The agent’s take

“[Most] buyers were growing families looking for more space, and there were some people who were in a larger home and looking to downsize but stay in the neighbourhood,” Mr. Irwin said.

“The main-floor layout was a bit unique because we didn’t have a kitchen with a family room off the back, it was almost like a den between the dining room and kitchen.”

An upstairs deck overlooks the back yard and the larger deck and stone patio below.

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All assets by SOARE PRODUCTIONS

https://www.theglobeandmail.com/real-estate/toronto/article-north-toronto-home-sells-after-asking-price-cut-twice/

SYDNIA YU

TORONTO

SPECIAL TO THE GLOBE AND MAIL