Joe Godara's blog

April 2025 brought a mix of seasonal growth and year-over-year softness to the Greater Toronto Area (GTA) housing market. Here’s a concise look at the latest numbers and trends:

Key April 2025 Stats:

• Home Sales: 5,601 homes sold, down 23.3% from April 2024, but up 11.8% from March 2025, following the usual spring uptick.

• New Listings: 18,836 new listings, an 8.1% increase year-over-year, giving buyers more options than last spring.

• Average Price: $1,107,463, down 4.1% year-over-year and slightly lower month-over-month after seasonal adjustment.

• MLS® HPI Composite Benchmark: Down...

On April 16, 2025, the Bank of Canada (BoC) announced its decision to maintain the overnight policy rate at 2.75%, marking a pause after seven consecutive rate cuts. This move reflects the central bank's cautious approach in the face of escalating trade tensions, particularly with the United States, which have introduced significant economic uncertainty.

Key Highlights:

• Interest Rates Unchanged: The BoC kept the overnight rate at 2.75%, the Bank Rate at 3.00%, and the deposit rate at 2.70%.​

• Inflation Trends: Canada's inflation rate rose to 2.3% in March, influenced by higher goods...

North York, a vibrant and rapidly evolving neighborhood in Toronto, is set to welcome a new era of urban living with the introduction of The Wilde Condos. This exciting pre-construction project, developed by Chestnut Hill Developments, promises to redefine the skyline and lifestyle of the area. Located at the intersection of Glencairn Avenue and Marlee Avenue, The Wilde Condos are poised to become a beacon of modern elegance and convenience.

Location and Neighborhood

The Wilde Condos are nestled in the heart of the Glen Park neighborhood, known for its family-friendly atmosphere, excellent...

When embarking on the journey of building or buying a new home in Ontario, one of the most crucial steps is ensuring your chosen builder is properly licensed. This not only protects your investment but also guarantees that your home will be built to the highest standards of quality and safety.

Why Licensing Matters

In Ontario, it is a provincial offence to offer to sell, agree to sell, or begin construction of a home without first obtaining the applicable licenses. The Home Construction Regulatory Authority (HCRA) is responsible for licensing and regulating builders and vendors of new...

Exciting news for aspiring homeowners! The Government of Canada has just announced a major policy shift that will make homeownership more affordable for first-time buyers. Prime Minister Mark Carney will eliminate the Goods and Services Tax (GST) on homes priced at or under $1 million for first-time buyers. This is a significant move that will have a profound impact on the real estate market and the dream of homeownership.

This policy change brings substantial benefits for first-time buyers, making it easier than ever to step into the housing market:

• Huge Savings: With GST eliminated,...

On March 12, 2025, the Bank of Canada reduced its key interest rate by 25 basis points to 2.75%. This marks the seventh consecutive rate cut since mid-2024. The decision was driven by several economic factors:

1. Trade Tensions and Tariffs: The U.S. has imposed tariffs on Canadian exports, creating uncertainty for businesses and consumers. This has dampened consumer confidence and investment, with the central bank aiming to cushion the economy from these shocks.

2. Economic Growth Concerns: While Canada entered 2025 with strong GDP growth and inflation near its 2% target, the escalating...

In the victory speech after winning the Liberal Party leadership and becoming Canada's next Prime Minister, Mark Carney made two significant economic promises:

• To Halt Capital Gains Tax: Carney promised to stop a planned hike in the capital gains tax. He argued that this measure was necessary to encourage builders and investors by rewarding risk-taking and success.

• Elimination of the Consumer Carbon Tax: Carney pledged to immediately scrap the consumer-facing carbon tax, which he described as divisive. Instead, he proposed a system of incentives to reward Canadians for making...

As March arrives, it signals the transition from winter to spring, bringing longer days and the promise of warmer weather. After a harsh February with heavy snowfall, many of us still have snow piled up in our front and back yards. Now is the perfect time to tackle essential home maintenance tasks to ensure your property is in top shape for the new season. Whether you own a detached home or a condo, these simple maintenance steps will help protect your investment and keep your home running efficiently.

1. Inspect Your Roof & Gutters

Winter weather can damage your roof and gutters. Check...

Nestled in one of Brampton's most coveted locations, Westfield by Great Gulf is set to redefine upscale suburban living. This prestigious new community, situated near Mississauga Road and Steeles Avenue West, offers an exquisite blend of natural beauty and urban convenience, making it the perfect place for families to call home.

A Community Designed for Families

Westfield features a limited release of freehold 2-storey townhomes ranging from 1,905 to 1,970 sq. ft., starting from $914,990. These townhomes are meticulously crafted to enhance every aspect of family life.

Luxurious Features

The $400 million expansion at John C. Munro Hamilton International Airport is likely to positively impact the housing market in the Mount Hope area. This significant investment will enhance the airport's infrastructure by expanding the passenger terminal buildings, upgrading cargo facilities, and improving taxiways and aprons. These enhancements are expected to benefit the Mount Hope housing market in several ways:

1. Increased property values: The airport expansion may lead to higher property values in Mount Hope due to improved transportation infrastructure and economic growth in the...