Spring has always been real estate’s busiest season, but lately, it’s as unpredictable as the weather. Gone are the days of a steady, well-timed surge in listings and sales. Instead, today’s market moves in bursts, making it harder for both buyers and sellers to plan their next steps.
If you’re wondering what this means for your home search or sale this year, here’s what you need to know.
A Market in Flux
For years, we could count on the spring real estate market in Toronto kicking off in March, gaining momentum in April, and peaking by late May. Buyers knew when to enter, and sellers had a clear sense of timing.
Not anymore.
The last few years have thrown curveballs into the mix:
- Last year, the spring market arrived on schedule but lost steam within weeks.
- The year before, it started early but cooled just as quickly.
- This year, activity has already started, but its trajectory remains uncertain.
Economic shifts, fluctuating interest rates and changing buyer behaviour have made the spring market less predictable than ever.
What to Expect This Year
Early indicators show that buyer activity is rising, especially in Toronto’s east end. But that doesn’t mean we’re heading for another frenzied market.
- Inventory remains low, which is driving multiple-offer situations, particularly for homes under $1.5 million.
- Unlike the pre-pandemic days of soaring prices, we’re seeing moderate price growth, with forecasts predicting a 3-4% increase in home values this year.
For sellers, this means waiting for a “better” market may not yield higher returns. The opportunities are happening right now.
Planning to Move This Year?
Advice for Spring Sellers
If you’re considering selling this spring, here’s how to position your home for success:
1. The Market is Already Moving
If you were waiting for the “right time,” this is it. Buyers are active, and well-priced homes are attracting strong interest.
2. Price Strategically
While competition is rising, prices aren’t skyrocketing. Overpricing could mean sitting on the market longer than expected. The right price brings the right buyers quickly.
3. Use Low Inventory to Your Advantage
With fewer homes available, well-presented properties stand out more than ever. Staging, high-quality marketing and a strong pricing strategy can help you maximize your sale.
Advice for Spring Buyers
Navigating a shifting market as a buyer takes strategy and preparation. Here’s what to keep in mind:
1. Act Quickly in Competitive Markets
With low inventory, well-priced homes are moving fast. If you see a home that fits your needs, be prepared to act. Getting pre-approved for a mortgage and working with an experienced real estate team will help you move confidently.
2. Be Ready for Multiple Offers
Homes under $1.5 million are attracting strong interest. This means you may need to adjust your offer strategy, whether that’s increasing your budget, adding flexibility to your conditions or finding properties that may have less competition.
3. Consider Long-Term Affordability
With interest rates still in flux, consider long-term affordability when planning your purchase. Work with a mortgage broker to explore different financing options and ensure you’re making a sustainable decision.
Thinking About Making a Move? Let’s Talk.
In a shifting market, expert guidance is key. If you’re planning to buy or sell this season, having the right strategy matters more than ever.
Let’s chat about your options! Reach out today to discuss how to maximize your sale or find the right home in this unpredictable market.
