Corinne McCabe , Broker

Bosley Real Estate Ltd., Brokerage

Cell 416-888-9842 | info@corinnemccabe.com

Is the real estate market slowing down? We are getting asked that question a lot these days. A summer slowdown is normal for the real estate market as we transition from the intensity of the spring market into the summer market, and this shift happens almost every year. Last year was different because we experienced the spring market in June and July because of the pandemic lockdown.


It’s still a seller’s market. There are still plenty of buyers out there and demand still outweighs supply. But we are seeing diversions, now that a majority of the population is vaccinated and buyer’s attention is focused on trips, events, and visiting friends and family rather than solely on their home search.


Homeowners planning to sell should not worry that the bottom is falling out of the market, but expectations should change compared to previous months. Here’s what the shift might look like:


• Fewer total offers on competitive homes

• Fewer properties selling within the first week

• Fewer homes being listed for sale

• Buyers being able to negotiate a better deal

• Less extreme price escalations

• Listing your home at market value – if you had an offer date set intentionally listing low and were hoping for a bidding war and you didn’t get what you hoped for, then re-listing at market value might be the right strategy


As markets stabilize and demand begins to moderate – something that was signalled in the data for May – one of the greatest challenges for agents in their role as trusted advisor is identifying those expectations and realigning them. Agents who play the long game will attest to the benefit of educating their clients with real time data to manage expectations upfront, over dealing with disappointment and frustration down the road. 


The more interesting trend we have been seeing is a month-over-month decline in home sales since the peak reached in March. March to May is typically a period when home sales are increasing from one month to the next, but the effects that COVID-19 has had on the real estate market continue to distort the traditional seasonal trends in the market. The average house price in May was $1,312,334 while the median was $1,140,000, up 32% and 33% respectively over last year. 


There has been some cooling over the previous month, and a slight shift away from a tight seller’s market to a more balanced model was likely to emerge. Nobody ever thought that this frenzy could continue at this pace. A balanced market can make for great buying opportunities, especially for first time buyers.


Bosley Real Estate Ltd. is a full-service boutique brokerage operating in Toronto, Muskoka, Niagara-on-the-Lake, Port Hope and Cambridge, Ontario since 1928. We have three centrally located offices in Toronto and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

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This property has SOLD at 305 2055 Danforth AVE in Toronto.
This Fabulous 12 Storey Boutique Condo Boasts 2 Bedrooms, 2 Baths & Is Ready To Be Your New Home. A Lovely, Quiet Building W/ Gym, Party & Media Rooms, Outdoor Bbq Area, And Is A Non-Smoking Building. You're Steps From Woodbine Subway & A Grocery Store & Only 20 Mins Walk To The Beach! Parking Included!
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This property has SOLD at 715 70 Roehampton AVE in Toronto.
South-West Sun-Filled Corner Unit In The Tridel-Built Republic Ii Condo Oozes W/Glamour. Rare Split Bedroom Floor Plan Away From The Main Living Space, & A Totally Separate Den That Could Be Used As A 3rd Br. An Abundance Of Living Space In 1171 Sq Ft That Overlooks The School's Football Field Gives You Expansive Views That Will Stay. Enjoy Stunning Sunsets From The Huge Balcony To Wind Down From Your Busy Day & Luxuriate In The Buildings Spa-Like Amenities.
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New featured property at 305 2055 Danforth AVE in Toronto.
This Fabulous 12 Storey Boutique Condo Boasts 2 Bedrooms, 2 Baths & Is Ready To Be Your New Home. A Lovely, Quiet Building W/ Gym, Party & Media Rooms, Outdoor Bbq Area, And Is A Non-Smoking Building. You're Steps From Woodbine Subway & A Grocery Store & Only 20 Mins Walk To The Beach! Parking Included!
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New featured property at 715 70 Roehampton AVE in Toronto.
South-West Sun-Filled Corner Unit In The Tridel-Built Republic Ii Condo Oozes W/Glamour. Rare Split Bedroom Floor Plan Away From The Main Living Space, & A Totally Separate Den That Could Be Used As A 3rd Br. An Abundance Of Living Space In 1171 Sq Ft That Overlooks The School's Football Field Gives You Expansive Views That Will Stay. Enjoy Stunning Sunsets From The Huge Balcony To Wind Down From Your Busy Day & Luxuriate In The Buildings Spa-Like Amenities.
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New featured property at 1 10 Sylvan AVE in Toronto.
Rare Opportunity To Live On The 1st Floor Of This Completely Renovated, Stunning 4 Unit Home That Was Built In 1888 & Backs Onto Dufferin Grove Park. This Gorgeous 2 Bedroom Unit Has Been Meticulously Designed W/Discerning Quality & Taste. Features Include 10' Ceilings, Stained Glass, Hardwood Floors, Granite Counters, Reclaimed Wood Panelling, & A Fabulous Balcony Off The Kitchen. The Landscaping Is Equally As Stunning & Rogers Internet & Cable Is Included!
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New featured property at 48 Durant AVE in Toronto.
This Modern & Stylish 3-Bed 2-Bath Home Features An Open Concept Living & Dining Room, Hardwood Floors & An Electric Fireplace. The Remodelled Kitchen Includes Stainless Steel Appliances, Granite Counters & Walk Out To An Inviting Patio Space With Gas Barbecue Hookup & Plenty Of Shade. Comfortable Well Insulated Finished Basement With A 3Pc Bath, Electric Fireplace Plus A Workspace. Walking Distance To The Danforth And Subway Line! Offers Anytime.
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New featured property at 48 Durant AVE in Toronto.
**Offers Anytime!** What's The Latest Rant On Durant? This Modern & Stylish 3-Bed 2-Bath Home Features An Open Concept Living & Dining Room, Hardwood Floors & An Electric Fireplace. The Remodelled Kitchen Includes Stainless Steel Appliances, Granite Counters & Walk-Out To An Inviting Patio Space With Gas Barbecue Hookup & Plenty Of Shade. Comfortable Well Insulated Finished Basement With A 3Pc Bath, Electric Fireplace Plus A Workspace. Walking Distance To The Danforth!
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New featured property at 48 Durant AVE in Toronto.
What's The Latest Rant On Durant? This Modern & Stylish 3-Bed 2-Bath Home Features An Open Concept Living & Dining Room, Hardwood Floors & An Electric Fireplace. The Remodeled Kitchen Includes Stainless Steel Appl, Granite Counters & Walk Out To An Inviting Patio Space With Gas Barbeque Hookup And Plenty Of Shade. Comfortable Well Insulated Finished Basement With A 3Pc Bath, Electric Fireplace Plus A Workspace. Walking Distance To The Danforth!!
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This property has SOLD at 2 10 Sylvan AVE in Toronto.
Rare Opportunity To Live On The 2nd Floor Of This Completely Renovated, Stunning 4 Unit Home That Was Built In 1888 & Backs Onto Dufferin Grove Park. This Gorgeous 2 Bedroom Suite Has Been Meticulously Designed W/Discerning Quality & Taste. Features Include Stained Glass, Hardwood Floors, Granite Counters, Under-Mount Kitchen Lighting, Large Walk-In Shower W/Rain Head & Frosted Glass Window, & Fabulous West-Facing Balcony Off The Kitchen. Move In Anytime.
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New featured property at 2 10 Sylvan AVE in Toronto.
Rare Opportunity To Live On The 2nd Floor Of This Completely Renovated, Stunning 4 Unit Home That Was Built In 1888 & Backs Onto Dufferin Grove Park. This Gorgeous 2 Bedroom Suite Has Been Meticulously Designed W/Discerning Quality & Taste. Features Include Stained Glass, Hardwood Floors, Granite Counters, Under-Mount Kitchen Lighting, Large Walk-In Shower W/Rain Head & Frosted Glass Window, & Fabulous West-Facing Balcony Off The Kitchen. Move In Anytime.
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There are early signs that the rental market may be starting a comeback. In the first quarter of 2021, average condominium apartment rents were down on a year-over-year basis, however growth in rental transactions outstripped growth in the number of units listed over the same period, suggesting that rental market conditions are starting to tighten up once again.


In the GTA there were 13,168 reported condo rentals during the first quarter of this year. This represents an increase of 81% compared to 7,251 rentals in Q1 of 2020. The number of condos listed for rent during the first quarter of this year was up 78% compared to the same time last year. The number of condo apartment rentals reported in the first quarter represented a new record for the first three months of the year. This suggests we are accounting for pent-up rental demand from 2020. Strong rental demand is also an indicator of broader economic recovery with people willing to sign rental agreements because they are confident in their future job and income prospects. 

The average one-bedroom condominium apartment rent was down by 16% year-over-year in Q1 2021 to $1,820 compared to $2,187 in Q1 2020. The average two-bedroom condominium apartment rent was down by 13% over the same period to $2,447 compared to $2,812.

“The rental market will continue to contend with COVID-19 as the third wave keeps the GTA in a lockdown during the second quarter. However, market dynamics were set in motion in the first quarter to generate strengthening rental conditions as the year progresses — particularly later in the second half as the population becomes vaccinated, offices start to reopen, immigration rises, and post-secondary students potentially return to in-class learning. These variables are obviously subject to change and dependent upon exogenous factors, but as each day passes and housing prices get more expensive, the upside for the rental market rises.” Shaun Hildebrand, Urbanation.


Bosley Real Estate Ltd. is a full-service boutique brokerage operating in Toronto, Muskoka, Niagara-on-the-Lake, Port Hope and Cambridge, Ontario since 1928. We have three centrally located offices in Toronto and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Read full post

This property has SOLD at 1047 Woodbine AVE in Toronto.
Bright And Airy 3 Bedroom Semi Just One Block From The Subway! Fabulous Family Home W/Hardwood Throughout, High Ceilings, Renovated Bathrooms & Laundry, A Large Master Suite & 2 Roomy Bedrooms. Private Deck Off Sunroom With Fully Fenced In Yard And Secure Lane Gate For 2 Car Parking! Bike Lane Just Outside Your Door For A Short Ride To The Beach Or Downtown. Steps To The Danforth With Fabulous Restaurants, Shops & So Much More!
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New featured property at 305 2055 Danforth AVE in Toronto.
This Fabulous 12 Storey Boutique Condo Boasts 2 Bedrooms, 2 Baths & Is Ready To Be Your New Home. A Lovely, Quiet Building W/ Gym, Party & Media Rooms, Outdoor Bbq Area, And Is A Non-Smoking Building. You're Steps From Woodbine Subway & A Grocery Store & Only 20 Mins Walk To The Beach! Available June 1st. Pictures Are From When Owner Lived There. Parking Included!
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New featured property at 1047 Woodbine AVE in Toronto.
Bright And Airy 3 Bedroom Semi Just One Block From The Subway! Fabulous Family Home W/Hardwood Throughout, High Ceilings, Renovated Bathrooms & Laundry, A Large Master Suite & 2 Roomy Bedrooms. Private Deck Off Sunroom With Fully Fenced In Yard And Secure Lane Gate For 2 Car Parking! Bike Lane Just Outside Your Door For A Short Ride To The Beach Or Downtown. Steps To The Danforth With Fabulous Restaurants, Shops & So Much More!
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This property has SOLD at 715 1000 The Esplanade RD N in Pickering.
Lovely & Bright This One Bedroom Suite Is Well Laid Out With No Wasted Space. Newer Laminate Flooring & Great Storage. Exceptionally Well Run, Tridel Built Building That's Close To The Go Station, Pickering Mall, Shopping, Easy 401 Access, Medical Building, Parks Etc. Walk Score Of 84 Means Most Errands Don't Need A Car. These Units Don't Come Up Often, So See It Soon To Avoid Disappointment!
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New featured property at 715 1000 The Esplanade RD N in Pickering.
Lovely & Bright This One Bedroom Suite Is Well Laid Out With No Wasted Space. Newer Laminate Flooring & Great Storage. Exceptionally Well Run, Tridel Built Building That's Close To The Go Station, Pickering Mall, Shopping, Easy 401 Access, Medical Building, Parks Etc. Walk Score Of 84 Means Most Errands Don't Need A Car. These Units Don't Come Up Often, So See It Soon To Avoid Disappointment!
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This property has SOLD at 19 Sydenham ST in Toronto.
Amazing & Bright 3 Bedroom, 3 Bathroom Freehold Townhouse In The Heart Of Downtown Toronto. Recently Renovated Top To Bottom W/2 Work From Home Spaces, There's Nothing Left To Do But Move In. Imagine Having A Private Drive & Direct Access Garage, Private Fenced Yard & A 3rd Floor Deck?!? More Space Than You Can Imagine For Your Perfect Urban Living Experience. Steps To Queen Ttc, Regent Park Aquatics Centre, & Close To The Distillery District Too.
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This property has SOLD at M15 350 Wellington ST W in Toronto.
Welcome To Boutique Condo Living At The Soho Met! Located On The 2nd Floor Of A Well-Maintained & Quiet Low Rise Building, This Bright One Bedroom Suite Offers Plenty Of Privacy With Tree-Lined Views Of Heritage Buildings. Warm & Inviting With Honey-Coloured Engineered Hardwood Floors & Classic Marble Bathroom. Steps Away From Ttc, Clarence Sq Dog Park, King West Restaurants, Theatres & Shops.
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New featured property at 19 Sydenham ST in Toronto.
Amazing & Bright 3 Bedroom, 3 Bathroom Freehold Townhouse In The Heart Of Downtown Toronto. Recently Renovated Top To Bottom W/2 Work From Home Spaces, There's Nothing Left To Do But Move In. Imagine Having A Private Drive & Direct Access Garage, Private Fenced Yard & A 3rd Floor Deck?!? More Space Than You Can Imagine For Your Perfect Urban Living Experience. Steps To Queen Ttc, Regent Park Aquatics Centre, & Close To The Distillery District Too.
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