Author: Joeann Chabrol

Across Global markets, entry-level housing slowed while luxury demand stayed stronger, giving first-time buyers more leverage, more choice, and fewer bidding-war pressures than before.
Buyers now have more time to compare properties, run the numbers, and negotiate for seller credits, closing-cost help, repairs, longer inspections, or included appliances.
Well-priced, high-quality homes still moved quickly, but listings that sat longer, looked overpriced, or needed work often gave prepared buyers significantly stronger negotiating positions.
In Mid-Q3 2026, 30-yr fixed mortgage rates averaged the high-6% range, so experts stressed budget discipline today and refinancing later if conditions improve.
For buyers with savings, solid credit, and a workable monthly payment, current conditions create one of the better recent openings to shop without snap decisions.

First, check whether your Ontario policy covered storm damage. Standard home insurance generally covered wind and hail, while flooding often needed added water coverage.
Auto coverage also varied. Comprehensive coverage generally handled flood, hail, or wind damage, while collision mattered if a moving vehicle was struck.
After severe flooding, safety came first: avoid re-entering a structurally compromised home, document damage with photos and receipts, and contact your insurance agent early.
Claims should factor in the deductible, since smaller repairs may not justify filing. Storm-related claims can also take days, weeks, or longer.
Ontario home insurance averaged ~$2.2K annually in 2026, with premiums ↑~6% yearly. Experts warned weather-related claims could push renewal costs higher in 2027.

In Early-Q3, GTA condo sales totaled 1.56K, essentially flat yearly, while the apartment benchmark price fell ~7% to $535.2K across the region.
New GTA condo listings reached 4.19K in Early-Q3, >2.6 times completed sales, keeping active supply elevated and buyers in a strong negotiating position overall.
Across the GTA, condo apartments sold for near 97% of asking price and averaged 40 days on market, showing units generally needed more time.
Price gaps persisted: Toronto's 416 condo avg. reached $672.8K in Early-Q3, while 905 units averaged $560.9K, with softer pricing especially evident outside Toronto.
Officials said growth and employment readings could improve confidence in coming months, but GTA condo stabilization remained a work in progress because supply stayed heavy.

Builders have been using mortgage rate buydowns to move inventory, lowering initial monthly payments instead of cutting prices as markets slowed recently.
At closing, builders pay a one-time fee to lower the rate, but many offset that cost by raising the home's sale price.
The lower-rate incentive often requires using a partnered lender, so buyers benefit from comparing quotes, closing fees, and total financing costs carefully.
Many buydowns are temporary, especially 2-1 structures, reducing payments for two years before resetting to the full loan rate afterward for homeowners.
Even permanent buydowns can limit flexibility, while incentives may keep headline prices elevated, so buyers should negotiate on price and upgrades too.

The Greater Toronto real estate market is showing signs of cooling as we enter Early-Q3, with approximately 6,000 homes sold—a slight drop of around 1% year-over-year after several months of gains. Still, activity did pick up about 3% month-over-month. The average selling price remains just under $1 million, and the benchmark price for a typical home has dipped around 5% compared to last year. This means buyers are still finding themselves with some negotiating power throughout much of the GTA.

Looking at specific property types, detached home sales nudged up by about 1% year-over-year, while semi-detached homes saw a 6% decline, townhouses slipped by 3%, and condo apartment sales stayed almost flat. Meanwhile, new listings dropped to roughly 14,500 (down 18% from last year), and active listings landed at about 26,100—a 12% decrease. This tighter supply is leaving buyers with fewer fresh options to consider.

As an Award Winning Broker and Real Estate Negotiation Expert, I’ve seen how shifting inventory and buyer confidence can shape opportunities for both buyers and sellers. With sales taking a larger share of available listings, there’s potential for price negotiations to narrow and conditions to balance out—especially as market confidence returns. My approach is always rooted in transparency and integrity, ensuring my clients are well-informed and prepared to navigate these changing dynamics and make confident decisions about their next move.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.