You should've taken that offer...

Before we get into advice or predictions, we think it’s important to separate what we know from what we don’t.

What we know: At the moment, there are no clear signs pointing to a stronger fall market. While one or two rate cuts are possible, they may not be enough to turn things around.

Unemployment in Ontario has hit 8.8%, layoffs are piling up—Rogers cut 1,000 jobs, Microsoft 9,000 (many in Toronto)—and GDP growth is stalled at just 0.5%. Despite this, the 5-year bond yield has climbed from 2.5% in April to nearly 3%, suggesting that fixed mortgage rates could rise further.

Combine that with a $92 billion federal deficit and rising inflation risk, and we could be heading into stagflation—making rate cuts even less likely. The most recent cut had little impact, and with affordability still stretched, even another 25–50bps won’t move the needle much.

What we’re seeing on the ground: In the weeks ahead, you’ll start to see many of the 30,000+ active listings quietly terminate, with the hope of relisting in the fall. But here's the catch: we expect many of those listings to return in September and October. Even if buyer activity picks up slightly in the fall, it’s unlikely to keep pace with the wave of listings we expect to hit the market.

For those thinking about making a move—especially to upsize or downsize—this is a very opportunistic time to buy. The price gap between entry-level freeholds and larger homes is the lowest we’ve seen in years. And while everyone loves the idea of “selling high and buying low,” the reality is: your best bet is to sell and buy within the same market.

Most clients we’re working with right now are selling first, and that’s a smart move in a shifting market. While there’s always a chance that prices dip further, home values have held up surprisingly well—even with 30,000+ listings on the market. The bigger risk is selling now at a low price and buying later at a higher one if the market rebounds.

Our advice? If you're thinking of making a move for personal or lifestyle reasons—do it. But while you’re preparing to list, start your property search now. It usually takes 1–3 months of actively viewing homes to truly understand what you want, which areas feel right, and how much house your budget gets you. The last thing you want is to sell your home, then scramble to figure out where to go next.

As a seller, it’s also critical to reset your expectations. Don’t get anchored to past sales. Your competition isn’t what sold last month—it’s what’s currently listed. And some of those sellers may be far more aggressive than you in pricing. For years, we priced based on recent sales and added a little. That strategy doesn’t work in this market.

And beware of agents who promise the highest price just to win your listing—we call that “buying your listing.” These agents often come back a few weeks later asking for price reductions. In this market, that’s a costly delay. What you need is honest, data-backed advice (hello, that’s us!), even if it’s not what you were hoping to hear. Don’t believe us? Just ask the 30,000+ sellers out there still waiting for their buyer.

If you’re upsizing, take the hit on the sale, and then go get a deal on the buy. A 5–10% drop on a $800,000 sale stings less than a 5–10% savings on a $1.3–$1.7+M purchase.

Lastly, with so many listings on the market, presentation matters more than ever. You may be competing with 10–20 similar homes for the attention of a single buyer. That means:

Fresh paint throughout

Replacing old flooring if needed

Fixing caulking, patching holes

Swapping out outdated light fixtures and hardware (hint: Amazon Prime Day has great deals)

These aren’t huge expenses, but they make a big impact—and they’re the cost of doing business in this market. The good news? At Coral Realty, we handle all of that for you. From sourcing materials to managing trusted trades, we’ll take care of it so you can focus on the bigger picture.

Let us help you make smart, confident decisions—whether you’re buying, selling, or both.

Buyers -> For first-time homebuyers, we believe the market will likely hit its lowest point within the next 12 months—if it hasn’t already. If you’re planning to stay put for three years or more, now’s a solid time to buy; trying to pinpoint the exact bottom is nearly impossible and not worth the stress. For families, consider aligning your buying and selling to occur within the same market conditions to maintain stability in this unpredictable environment.

Sellers -> In today’s market, it’s wise to sell before you buy to avoid potential complications. Presentation is critical—small improvements can set your property apart and make it the top pick for buyers. Work with an experienced selling agent who understands the nuances of this climate; this isn’t the moment to opt for a discount service when expertise can make all the difference.

Investors -> Rates are still high, inflation risk is back on the radar, rents are softening, and prices may not be done falling. So… should you try to catch a falling knife? The truth is, most investors aren’t buying right now—and honestly, that makes sense. This isn’t a market for casual plays or hopeful projections. But if you have the stomach and the strategy, there are deals out there.

Focus on value-add opportunities: basement apartments, secondary suites, extensions, laneway or garden homes. These are the properties where you can force appreciation, improve cash flow, and sidestep some of the broader market risk. Best of all? There’s almost no competition. Everyone else is sitting on the sidelines.