Toronto and the GTA home sales are down 23% year-over-year! In this episode, Lei Villar-Cisneros breaks down what today’s Greater Toronto Area (GTA) real estate trends mean for buyers and sellers. Learn how to navigate high interest rates, market uncertainty, and find opportunities to win in 2025’s shifting housing market. Tune in now!
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 00 (00:00):
The Greater Toronto Area home sales have dropped
over 23%.
Inventory is climbing andprices are slipping.
What does it mean for you ifyou're buying or selling a home
in 2025?
Stick around and I'll break itall down and share real
strategies to help you navigatetoday's shifting market.
Unknown (00:26):
Music
Speaker 00 (00:31):
Welcome home.
I'm your host, LeiVillar-Cisneros.
Today, we're diving in intocurrent real estate landscape in
the Greater Toronto Area,backed by the latest data.
And I'm giving youstraightforward advice on how
buyers and sellers can succeed,even in a challenging market.
According to the latest TRREBMarketWatch report for April
(00:56):
2025, home sales in the GTA weredown 23.3% year over year.
Only 5,601 homes soldthrough TRREB's MLS system.
New listings are actually up.
by 8.1%, creating moreinventory and choices for
(01:17):
buyers.
The average selling price nowsits at $1,107,463, down 4.1%
compared to April of 2024.
The MLS Home Price IndexComposite fell by 5.4% year over
(01:39):
year.
Toronto home sales havenosedived because buyers are
waiting for lower borrowingcosts and a more stable economic
outlook.
Many buyers are sidelinehesitating until the interest
rate decrease.
But this wait and see approachcould help create a rush later,
(02:00):
driving prices back up whenrates finally drop.
We kind of experienced thistype of situation.
buying frenzy during thepandemic when our interest rate
fell down like like almost zeropercent and there were so much
(02:20):
buyer demand and prices of thehomes just kept on rising up for
buyers in this market althoughthe home price have gone down
higher interest rates still makeaffordability a challenge also
the fear of buying before pricesbottom up are we really at the
(02:41):
bottom bottom now or is this isthe only start of the prices
going down but the best time tobuy a house is when you can
afford it true that it mightalso go down like towards the
end of the year but what if youlose your job or what are the
(03:02):
what if there are somecircumstances that will prevent
you from buying a home or whatif there are some government
policies that will prevent youfrom owning a home so the best
time to buy a home is when youcan afford it and if that's this
time then this is the best timefor you to buy a house don't
(03:24):
wait for the interest rates togo down more because rates are
only for two three four fiveyear terms and then after that
it resets again to whatever wasthe current is the current
market at that time but youcouldn't really tell what
(03:45):
tomorrow brings right so Evenif, let's say, the house prices
go down this year, there's atendency that it will go up
again, right?
And when it happens, youalready are in the market.
And so if you're not going tosell your house in a few months
after today, then chances areyou will still get the value of
(04:10):
your money.
Historical data shows that homeprices, although it goes up,
down and up in the end if youhold on to your house it will go
back up now it's also confusingfor a lot of buyers because
they can't really tell rightwhat the right time to make a
(04:32):
move is but as i was saying ifthis is the time that you can
afford it go ahead and take theplunge Now, for sellers, I know,
I know, there's so much thingsto consider when you are selling
a home right now.
Longer time on market as buyershesitate to take the plunge.
(04:53):
There are more competitions,which means there's higher
inventory.
Buyers have so many options.
And because of that, it takeslonger in the market and you
have to be on top of...
the market when you're sellingat the moment so that means
(05:14):
really clean and stage homemight be an advantage for you
and you have to make sure thatthe agent that is selling your
house has the experience inmarketing in this very difficult
time so that your house willalways come on top now you might
(05:34):
be if you're currently sellingyou might have felt that the
offers are low so if somebody isgiving you a low ball offer
don't despair right away don'tshut off the other party in
negotiation because As long asthe negotiation is not over, you
(05:57):
have the chance to come upwinner in the end.
And of course, you're not goingto give away your house, but
you might get the price that youneed to move on to another home
of your dreams and make ithappier there.
So just let the buyers, if theyare putting an offer, consider
(06:20):
all the offers that you'remaking.
receiving think about it andwith the help of a great
negotiator you would come up awinner in this market even in
this market now let's look atsome real solutions for today's
market now for buyers let's takeadvantage of the more choices
(06:44):
now instead of competing laterwhen the market hits up so now
that there's a lot of housessellers are more appreciative of
your visit they are willing tonegotiate you can put conditions
and sellers are willing to takethat and you can negotiate the
(07:09):
price so this is a perfect timefor you because if you go on a
high market aside from it's hardto to get Approval for your
mortgage, prices might behigher.
By the time you put an offer,somebody might be able to get it
if they have more room to payfor the price.
(07:31):
And also, number two, negotiatesmart.
Now that there's moreinventory, you have the leverage
to ask for price reductions,incentives, even repairs.
next focus on monthlyaffordability not just the rate
today's slightly lower homeprices might offset higher
(07:54):
interest rates now if you havebeen pre-approved for a lower
rate right now and we don't knowwhat tomorrow brings maybe it
will go up so if you get a lowerrate right now lock it in with
flexible mortgage products youcan refinance later when and if
the rates fall lower now forsellers price it competitively
(08:21):
from day one so upper pricingwill only backfire in today's
savvy market. So make sure thatyou deal with an agent who knows
how to price your homestrategically. Just lowering the
price without any reason for itor putting it over priced will
(08:41):
not get you a deal. It has to bewithin the market range and the
buyers will tell you what thatmarket is. So, look at the
comparables, active comparablesnot just the ones that are a
year ago, so those ones are notyour comparable right now even
(09:04):
if their home sells within yourstreet last year, that is not
your comparable.
The comparable is what themarket is telling you right now.
number two you have to stageyour home beautifully.
Make sure that you deal withagent who knows what he's doing
not just putting somedecorations and putting your
(09:27):
furniture wherever, make surethat it is staged beautifully.
Not just beautiful, but whenyou stage the home, it's not
just to decorate it.
It's more to give the buyer theidea of how your house will
look.
So staging a home is not aboutdecorating it and making it look
(09:52):
pretty.
Yeah, we wanted to make it lookpretty, but staging is to give
you an advantage so that thebuyer will see the best feature
of your house and that will makethem love your house more and
hopefully put a good offer.
So with so many options, buyersare drawn to the best presented
(10:15):
homes.
Number three, be flexible onclosing dates and terms to
attract more offers.
And also, with regards to yourshowing, if you are just showing
your house when you're away orwhen you're not in the house or
when you feel like it, thenchances are they will pass on
(10:37):
your house as well.
We are saying earlier, there'sso many inventory.
So if your house is not readyto show because you didn't clean
the night or you have all yourdishes in, then chances are you
will miss your luck.
So as soon as you put yourhouse in the market, you have to
be ready to show.
And work with a knowledgeableagent who understands how to
(11:01):
market and negotiatestrategically in this type of
market.
Hint, hint, that's me.
Anyway, if you forgoteverything that I have said, I
want you to remember this.
This is not the time to panic.
It's the time to strategize.
Whether you're buying yourfirst home, upgrading or selling
(11:23):
your investment, theopportunities are still there.
If you move smartly and act onsolid advice.
If you're thinking of making amove and want to talk about your
options, I'd like to help youbuild the right game plan based
on today's market.
Visit me on YouTube, Instagram,and Facebook
(11:45):
@LeiVillarRealEstate or book afree consultation today.
Your dream move is stillpossible.
You just need the rightguidance.
You have been listening toLet's Talk House Podcast, your
(12:10):
go-to source for all things realestate, mortgage, and beyond in
the Greater Toronto Area inCanada.
Be sure to press the followbutton so you won't miss an
episode.
Also, follow me on YouTube,Instagram, and Facebook at
@LeiVillar Real Estate.
As always, thanks forlistening, and we'll see you
(12:31):
next time.
The Greater Toronto Area home sales have dropped
over 23%.
Inventory is climbing andprices are slipping.
What does it mean for you ifyou're buying or selling a home
in 2025?
Stick around and I'll break itall down and share real
strategies to help you navigatetoday's shifting market.
Unknown (00:26):
Music
Speaker 00 (00:31):
Welcome home.
I'm your host, LeiVillar-Cisneros.
Today, we're diving in intocurrent real estate landscape in
the Greater Toronto Area,backed by the latest data.
And I'm giving youstraightforward advice on how
buyers and sellers can succeed,even in a challenging market.
According to the latest TRREBMarketWatch report for April
(00:56):
2025, home sales in the GTA weredown 23.3% year over year.
Only 5,601 homes soldthrough TRREB's MLS system.
New listings are actually up.
by 8.1%, creating moreinventory and choices for
(01:17):
buyers.
The average selling price nowsits at $1,107,463, down 4.1%
compared to April of 2024.
The MLS Home Price IndexComposite fell by 5.4% year over
(01:39):
year.
Toronto home sales havenosedived because buyers are
waiting for lower borrowingcosts and a more stable economic
outlook.
Many buyers are sidelinehesitating until the interest
rate decrease.
But this wait and see approachcould help create a rush later,
(02:00):
driving prices back up whenrates finally drop.
We kind of experienced thistype of situation.
buying frenzy during thepandemic when our interest rate
fell down like like almost zeropercent and there were so much
(02:20):
buyer demand and prices of thehomes just kept on rising up for
buyers in this market althoughthe home price have gone down
higher interest rates still makeaffordability a challenge also
the fear of buying before pricesbottom up are we really at the
(02:41):
bottom bottom now or is this isthe only start of the prices
going down but the best time tobuy a house is when you can
afford it true that it mightalso go down like towards the
end of the year but what if youlose your job or what are the
(03:02):
what if there are somecircumstances that will prevent
you from buying a home or whatif there are some government
policies that will prevent youfrom owning a home so the best
time to buy a home is when youcan afford it and if that's this
time then this is the best timefor you to buy a house don't
(03:24):
wait for the interest rates togo down more because rates are
only for two three four fiveyear terms and then after that
it resets again to whatever wasthe current is the current
market at that time but youcouldn't really tell what
(03:45):
tomorrow brings right so Evenif, let's say, the house prices
go down this year, there's atendency that it will go up
again, right?
And when it happens, youalready are in the market.
And so if you're not going tosell your house in a few months
after today, then chances areyou will still get the value of
(04:10):
your money.
Historical data shows that homeprices, although it goes up,
down and up in the end if youhold on to your house it will go
back up now it's also confusingfor a lot of buyers because
they can't really tell rightwhat the right time to make a
(04:32):
move is but as i was saying ifthis is the time that you can
afford it go ahead and take theplunge Now, for sellers, I know,
I know, there's so much thingsto consider when you are selling
a home right now.
Longer time on market as buyershesitate to take the plunge.
(04:53):
There are more competitions,which means there's higher
inventory.
Buyers have so many options.
And because of that, it takeslonger in the market and you
have to be on top of...
the market when you're sellingat the moment so that means
(05:14):
really clean and stage homemight be an advantage for you
and you have to make sure thatthe agent that is selling your
house has the experience inmarketing in this very difficult
time so that your house willalways come on top now you might
(05:34):
be if you're currently sellingyou might have felt that the
offers are low so if somebody isgiving you a low ball offer
don't despair right away don'tshut off the other party in
negotiation because As long asthe negotiation is not over, you
(05:57):
have the chance to come upwinner in the end.
And of course, you're not goingto give away your house, but
you might get the price that youneed to move on to another home
of your dreams and make ithappier there.
So just let the buyers, if theyare putting an offer, consider
(06:20):
all the offers that you'remaking.
receiving think about it andwith the help of a great
negotiator you would come up awinner in this market even in
this market now let's look atsome real solutions for today's
market now for buyers let's takeadvantage of the more choices
(06:44):
now instead of competing laterwhen the market hits up so now
that there's a lot of housessellers are more appreciative of
your visit they are willing tonegotiate you can put conditions
and sellers are willing to takethat and you can negotiate the
(07:09):
price so this is a perfect timefor you because if you go on a
high market aside from it's hardto to get Approval for your
mortgage, prices might behigher.
By the time you put an offer,somebody might be able to get it
if they have more room to payfor the price.
(07:31):
And also, number two, negotiatesmart.
Now that there's moreinventory, you have the leverage
to ask for price reductions,incentives, even repairs.
next focus on monthlyaffordability not just the rate
today's slightly lower homeprices might offset higher
(07:54):
interest rates now if you havebeen pre-approved for a lower
rate right now and we don't knowwhat tomorrow brings maybe it
will go up so if you get a lowerrate right now lock it in with
flexible mortgage products youcan refinance later when and if
the rates fall lower now forsellers price it competitively
(08:21):
from day one so upper pricingwill only backfire in today's
savvy market. So make sure thatyou deal with an agent who knows
how to price your homestrategically. Just lowering the
price without any reason for itor putting it over priced will
(08:41):
not get you a deal. It has to bewithin the market range and the
buyers will tell you what thatmarket is. So, look at the
comparables, active comparablesnot just the ones that are a
year ago, so those ones are notyour comparable right now even
(09:04):
if their home sells within yourstreet last year, that is not
your comparable.
The comparable is what themarket is telling you right now.
number two you have to stageyour home beautifully.
Make sure that you deal withagent who knows what he's doing
not just putting somedecorations and putting your
(09:27):
furniture wherever, make surethat it is staged beautifully.
Not just beautiful, but whenyou stage the home, it's not
just to decorate it.
It's more to give the buyer theidea of how your house will
look.
So staging a home is not aboutdecorating it and making it look
(09:52):
pretty.
Yeah, we wanted to make it lookpretty, but staging is to give
you an advantage so that thebuyer will see the best feature
of your house and that will makethem love your house more and
hopefully put a good offer.
So with so many options, buyersare drawn to the best presented
(10:15):
homes.
Number three, be flexible onclosing dates and terms to
attract more offers.
And also, with regards to yourshowing, if you are just showing
your house when you're away orwhen you're not in the house or
when you feel like it, thenchances are they will pass on
(10:37):
your house as well.
We are saying earlier, there'sso many inventory.
So if your house is not readyto show because you didn't clean
the night or you have all yourdishes in, then chances are you
will miss your luck.
So as soon as you put yourhouse in the market, you have to
be ready to show.
And work with a knowledgeableagent who understands how to
(11:01):
market and negotiatestrategically in this type of
market.
Hint, hint, that's me.
Anyway, if you forgoteverything that I have said, I
want you to remember this.
This is not the time to panic.
It's the time to strategize.
Whether you're buying yourfirst home, upgrading or selling
(11:23):
your investment, theopportunities are still there.
If you move smartly and act onsolid advice.
If you're thinking of making amove and want to talk about your
options, I'd like to help youbuild the right game plan based
on today's market.
Visit me on YouTube, Instagram,and Facebook
(11:45):
@LeiVillarRealEstate or book afree consultation today.
Your dream move is stillpossible.
You just need the rightguidance.
You have been listening toLet's Talk House Podcast, your
(12:10):
go-to source for all things realestate, mortgage, and beyond in
the Greater Toronto Area inCanada.
Be sure to press the followbutton so you won't miss an
episode.
Also, follow me on YouTube,Instagram, and Facebook at
@LeiVillar Real Estate.
As always, thanks forlistening, and we'll see you
(12:31):
next time.
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