The sun’s finally showing up—but the real estate market? Still a bit shy.
May gave us a bit of a mixed bag. Buyers are browsing, sellers are watching the sidelines, and everyone’s waiting for a signal. Here’s what stood out:
Average Home Price: May’s average selling price landed at $1,120,879, marking a 4.0% dip from April 2024.
Time on Market: Homes are still taking about 25 days to attract offers, with most closings falling 30 to 90 days later. Thinking of listing this summer? Now’s your window to get things ready.
New Listings: We saw 21,819 new listings hit the market in May—up 14.0% from last year. That’s giving buyers a bit more variety to choose from.
Market Overview: Sales were down 13.3% from April, and the market remains sensitive to price. Homes that are move-in ready and priced right are still drawing attention—especially in the entry-level range. More inventory = more choice for buyers.
Curious what all this means for you? Let’s talk about your next move.
Behind the Scenes
On the ground, it’s more of the same — with a hint of what’s to come.
Listings are still coming out at a steady pace, and open houses are getting decent traffic. But the vibe? Still cautious. Buyers are circling, conversations are happening, but the market hasn’t hit “go time” just yet.
The Bank of Canada held the rate again last week — no surprise there — but what was interesting was the language. They’ve now clearly opened the door to a rate cut in July, which could finally shift the mood from “wait and see” to “let’s go.”
Still, buyers are moving carefully. Between affordability pressures, soft job numbers, and global uncertainty (hello, more tariff talk), the energy is hesitant. There’s quiet optimism, but not a stampede.
What’s selling? Homes that are priced right and presented well. When the value is clear, buyers are still showing up — just not in a frenzy.
If you’re thinking about making a move, now’s a good time to chat through the timing. The landscape could shift soon.
Let’s make sure you’re ready when it does.
Yard Sale Recap
And that’s a wrap on our 5th Annual Community Yard Sale!
It was a huge success—and we couldn’t be more grateful to be part of such a vibrant, supportive neighbourhood. From early morning bargain hunters to families catching up on front lawns, the turnout was incredible.
A special thank you to all the participating households for bringing the energy (and the deals!), and to our amazing sponsor Denise from Mortgage in the City, whose ice cream truck was an absolute hit. Seeing kids—and adults—light up over a cone made our day.
Events like these remind us just how lucky we are to be part of this community. Thank you, Mineola East, for showing up and making it so special.
Until next year!
