What's New Wednesday - February 19, 2025
Welcome back to What’s New Wednesday, your go-to update on everything happening in the Toronto real estate market and beyond. From rising home prices to inflation trends and major development updates, we’re covering the biggest headlines you need to know this week. Let’s dive in.
1. Canadian Real Estate Prices Continue to Rise Despite Surging Inventory
The Canadian real estate market is proving its resilience once again. Despite economic concerns and a slowing population growth rate, home prices have been on the rise. In fact, prices are now at their highest since September 2024, a level that mirrors what we saw back in September 2021.
One of the most surprising factors? Inventory levels are growing eight times faster than sales. Typically, this kind of imbalance would put downward pressure on prices. However, demand remains strong, especially in key urban markets like Toronto and Vancouver.
What’s driving this trend? For one, interest rates have stabilized, and buyers who were sitting on the sidelines are re-entering the market. Additionally, despite inventory growth, we’re still facing a housing supply crisis in many major cities.
For buyers, this means that while more options are available, prices remain competitive. If you’re looking to enter the market, it’s essential to have a strategic approach. Sellers, on the other hand, continue to benefit from the strong demand, making this a favorable time to list properties.
2. Winter Storm Aftermath: Snow Removal in Toronto Could Take Up to Three Weeks
If you’ve stepped outside in Toronto recently, you’ve probably noticed just how much snow we’ve had to deal with. Following recent heavy winter storms, city officials have announced that it could take up to three weeks for snow removal efforts to be fully completed.
The process of clearing snow is extensive. First, city plows work to remove snow from major roads and highways. Once those areas are cleared, work shifts to residential streets, sidewalks, and bike lanes. Given the sheer amount of snowfall this year, delays are inevitable.
For homeowners, this means being patient and proactive. If you have a property listing or are considering selling, ensuring your home’s walkways and driveways are clear is essential for curb appeal and safety. Likewise, buyers touring homes in the coming weeks should be mindful of winter conditions.
If you’re in Midtown or Uptown Toronto, it’s a good idea to check your local snow removal schedule or consider hiring a private service if your street is experiencing delays.
3. Inflation Ticks Back Up to 1.9% in January
Another key economic update this week is Canada’s annual inflation rate, which increased to 1.9% in January, up from 1.8% in December. While the rise may seem small, it signals that inflation is still a factor to watch in 2025.
Statistics Canada reports that the increase was largely driven by rising fuel costs, which offset the effects of the federal GST rebate. For real estate, inflation impacts everything from construction costs to mortgage rates. If inflation continues to climb, the Bank of Canada may take a cautious approach to interest rate adjustments, impacting affordability for both buyers and investors.
For those in the market, staying updated on inflation trends and interest rate forecasts is crucial. If you’re considering making a move, locking in a favorable mortgage rate now could be a smart decision.
4. 55 Eglinton East: A Revived Development Proposal with More Residential Units
A major development update has emerged for those following Toronto’s evolving skyline. 55 Eglinton Avenue East, a proposal that originally surfaced ten years ago, is back—and it’s bigger than before.
The revised plan includes more residential units while eliminating previously proposed office space. This shift reflects a growing trend in Toronto real estate: increased demand for housing and a pivot away from large office developments in the post-pandemic era.
Located in the heart of Midtown Toronto, this project will contribute to the continued transformation of the Yonge & Eglinton area, one of the city’s most vibrant neighborhoods. With transit accessibility, a mix of retail, dining, and green spaces, this development is set to attract both investors and future residents looking for a premium urban lifestyle.
For buyers considering preconstruction investments, this project is one to keep an eye on. If you want to stay ahead of the curve, subscribing to my updates will keep you informed on the latest preconstruction opportunities in the city.
Final Thoughts
From rising home prices and inflation shifts to winter storm cleanups and major development updates, the Toronto real estate market continues to evolve. Whether you’re buying, selling, or investing, staying informed is key to making the best decisions.
For exclusive insights on new projects, market trends, and expert real estate guidance, be sure to sign up for The Yolevski Monthly Memo at yolevski.com. Stay ahead of the market with curated updates delivered straight to your inbox!
Until next week—stay warm, stay informed, and as always, love where you live.