The weather’s finally warming up—but the real estate market? Still a little chilly.
April brought some movement, but it’s clear that buyers and sellers are proceeding with caution. Here’s what you need to know:
Average Home Price: The average selling price in April was $1,107,463, down 4.1% from April 2024.
Time on Market: Homes still take about 25 days to receive offers, with closings happening 30 to 90 days after that. If you’re aiming to list in early summer, now’s the time to prep.
New Listings: Last month, we saw 15,214 new listings, an 8.1% increase year over year. That’s good news for buyers who want more selection.
Market Overview: Home sales increased slightly from March to 1.8% but are still sitting 23.3% below last year’s levels. The market continues to favour well-priced homes, especially in the more affordable segments. For buyers, the increased inventory means a little more breathing room.
What are your thoughts on this market? Send a message—I’m here if you have questions or just want to discuss what this means for you.
Behind the Scenes
Here’s what we’re seeing on the ground: listings are still coming out at a steady pace, but the market itself? It’s moving slowly. There’s some activity — we’re seeing decent traffic at open houses and a few more conversations starting up — but it’s cautious, measured, and definitely not a frenzy.
Buyers are dipping their toes in, but many are still hesitant to take the plunge. Even with the Bank of Canada holding rates steady again in April, the bigger news was their shift in tone — signaling that a cut might finally be on the horizon. That gave some people hope… but also another reason to wait it out a little longer.
There’s this quiet optimism building, but it hasn’t turned into momentum just yet. Add in headlines about tariffs, global uncertainty, and a softer job market, and you can see why buyers are weighing every step carefully.
That said, when something is priced right — and checks the right boxes — it’s still getting action. But for now, it’s a slower pace, with plenty of “we’re watching, but not rushing.”
Thinking about making a move? Let’s talk through what’s happening and figure out what makes the most sense for you. I am here to chat.
