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  • Thinking about underpinning? What GTA homeowners should know before digging down

    Thinking about underpinning? What GTA homeowners should know before digging down

    Homeowners in the Greater Toronto Area are increasingly lowering basement floors through underpinning to create full-height living spaces. Underpinning involves extending foundations deeper by excavating beneath footings in sections, allowing for higher ceilings. It is costlier and more complex than bench footing but preserves more space. Costs depend on depth, soil, water table, and existing conditions. Permits, engineering plans, and waterproofing are essential. Projects take 4-8 weeks, and neighbor communication is important.

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  • Canadian Home Sales Slide 6.9% Yearly

    In Mid-Q3, Canada home sales slipped ~1% MoM and ~7% yearly, as economic uncertainty and higher mortgage costs weighed on market activity.
    Canada’s price index was flat MoM in Mid-Q3 and ↓~3% yearly, while newly listed properties rebounded ~3% after three straight monthly declines.
    The sales-to-new listings ratio eased to ~49% from ~51% in Early-Q3, moving further below its long-term avg. near 55% across Canada overall.
    An economist said rising inflation risks and doubts about recent growth changed the broader backdrop, while higher bond yields pushed fixed mortgage rates upward.
    At that time, markets priced in a ~60% chance of an Early-Q4 rate hike, with >1 percentage point of tightening by 2027.

  • Toronto Home Prices Slip Below $1M

    In the current period, Toronto area homes sold for an avg. ~$993K, about ~3% lower yearly, a move that improved affordability for many buyers.
    Inventory also tightened in the current period: new listings fell ~14% yearly to ~12.1K, and fewer homes for sale left buyers with less choice.
    Toronto area REALTORS® reported just over 5K sales in the current period, down ~2% yearly, while reduced selection could increase competition and support prices.
    Local professionals said flat mortgage conditions and positive economic news supported affordability, though trade worries and possible future inflation and borrowing costs restrained some households.
    Local professionals said if inventory tightens and prices rise, buyers may act sooner, while better seller conditions could bring more listings to market.

  • Ontario Condo Closings Face Value Gap

    Current Ontario condo closings left some purchasers owing up to 30% above a unit’s market value, as proposed units had fallen below their contract prices.
    Many purchases could not close because banks based mortgage advances on current unit value, leaving insufficient closing funds when contract prices exceeded appraisal.
    Long gaps between signing and closing came from pre-sales, approvals, permits, contractor agreements, and labor shortages, giving falling markets time to upend buyer plans.
    In Ontario’s earlier seller’s market, developers sometimes canceled deals when costs surged, prompting provincial scrutiny, proposed penalties, and calls for independent reviews.
    Purchasers faced complex contracts with limited escape routes: usually only a 10-day cooling-off period, or termination if occupancy missed the outside occupancy date.

  • Happy Thanksgiving

    The perfect opportunity to embrace your inner "foodie" and unbutton your pants at the dinner table!In Canada, post-Thanksgiving is all about creative cranberry sauce solutions. Cranberry sauce pancakes, anyone?It's that time when multiple ovens are a blessing. Turkey, pies, casseroles – less stress!

  • Ontario HST rebate shields new home sales

    Ontario HST rebate shields new home sales

    GTA single-family home sales in August reached 692 units, 47% above the 10-year average, with total new home sales at 907. The benchmark price was $1,248,866, down 14.6% year-over-year, excluding tax rebates. While low-rise housing surged, condo sales remained 78% below average due to tax incentive timeline restrictions. The homebuilding sector supports 256,000 jobs and $39.3 billion in investment, aiding economic stability.

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  • Peel Region Homes Remain Stable at $908,415 in August

    Peel Region Homes Remain Stable at $908,415 in August

    The average home price in Peel Region was $908,415 in August 2026, down 0.2% from July and 5.4% from August 2025. There were 940 sales with 4,706 active listings. Detached houses averaged $1.13 million, semi-detached $821,799, attached houses $758,739, townhouse-style condos $674,273, and apartment-style condos $485,264, all showing monthly and yearly price declines except detached houses, which rose slightly month-over-month.

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  • Greater Toronto Buyers Find Value as Home Prices Adjust

    Greater Toronto Buyers Find Value as Home Prices Adjust

    In August 2026, 79.3% of Greater Toronto Area home sales closed below the final asking price, with a median discount of about 3%. Detached houses and condos sold around 3.2% below asking, attached homes about 2.2%. The average sale price was $855,000, down 1.16% from July and 4.79% from the previous year. Uxbridge had the highest rate of below-asking sales, while Ajax and Markham were most competitive. Negotiation varies by home type and municipality.

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  • Ontario HST Rebates Boost New Home Sales

    Industry advocates argued Ontario's temporary HST relief showed tax reductions can support affordability, sales activity, and confidence, and said permanent relief would better spur construction.
    Builders were described as navigating higher material and labour costs, slow approvals, restrictive rules, and uncertainty, with taxes, fees, and levies a major burden.
    The temporary program also faced rollout delays, as builders, developers, and buyers waited for rules and applications, limiting effectiveness while housing activity remained stalled.
    Highrise condo projects were portrayed as especially vulnerable, because long development and construction timelines made short-term tax policy less effective for moving projects ahead.
    The proposed long-term path for Ontario was permanent HST relief, ideally removing the tax on new homes, to help pursue 1.5M homes by 2031.

  • Toronto Area Home Prices Dip Below $1 Million

    In the current period, Toronto area homes sold for an avg. ~$993K, about ~3% lower yearly, a move that improved affordability for many buyers.
    Inventory also tightened in the current period: new listings fell ~14% yearly to ~12.1K, and fewer homes for sale left buyers with less choice.
    Toronto area REALTORS® reported just over 5K sales in the current period, down ~2% yearly, while reduced selection could increase competition and support prices.
    Local professionals said flat mortgage conditions and positive economic news supported affordability, though trade worries and possible future inflation and borrowing costs restrained some households.
    Local professionals said if inventory tightens and prices rise, buyers may act sooner, while better seller conditions could bring more listings to market.