Toronto Real Estate Update: Falling Rents & More Buyers Entering the Market
Over the past few months, I’ve noticed a clear shift in Toronto’s real estate market. Rental prices have been cooling down, giving tenants more leverage, while on the buying side, more people are actively looking at properties again—especially with a potential interest rate cut on the horizon.
Let’s break down what this means for renters and potential buyers in today’s market.
Rental Prices Are Falling – What This Means for Tenants
After the record-high rental increases of 2023, Toronto’s rental market has softened. More listings are sitting longer, which means tenants have more negotiating power.
In the past few months, I’ve personally helped several renters successfully negotiate lower rents and better lease terms. Here’s what I’m seeing:
More rental inventory = more options for tenants Landlords open to negotiation (lower rent, flexible lease terms) Incentives such as free rent periods or waived fees appearing again
If you’re a renter, now is the time to:
- Renegotiate your lease if you’re renewing soon.
- Explore new rental options with better pricing.
- Look for landlord incentives to save on costs.
More Buyers Are Looking – Should You Buy Now?
After a quiet market in 2023, I’ve noticed more serious buyers re-entering the market. Many are no longer waiting on the sidelines—they’re actively looking at properties.
This shift could be due to:
- A sense of market stability – prices are no longer fluctuating wildly.
- Potential rate cuts – The Bank of Canada’s March 12 announcement could impact mortgage rates.
- Less competition (for now) – If rates drop, demand could increase quickly.
⏳ Should You Wait or Buy Now?
There’s no perfect time to buy—it depends on your financial situation and long-term goals. However, if you’re considering buying, here’s what you should know:
If rates drop, more competition could enter the market. If rates stay the same, you have a more stable environment to negotiate. Real estate is a long-term investment—waiting for the ‘perfect’ time rarely works.
If you want to explore what’s possible within your budget, I can help you break down affordability, mortgage options, and smart strategies for buying in this market.
The Bottom Line: What This Means for You
- Renters: Now is a great time to negotiate rent or find a better deal.
- Buyers: More people are looking again, but prices remain stable—if you’re ready, it’s worth exploring options now.
- Uncertain? The market is shifting, but your decision should always be based on your financial comfort and long-term goals.
I’m always happy to chat about renting, buying, or anything in between—feel free to reach out!