Author: Joseph Bitton,B.A,LL.B.,Broker

Exciting news for Vaughan families: there’s potential for significant savings ahead. With the city’s bold decision to halve residential development charges as of March 30, 2026—and even eliminate them completely for qualifying projects since February 25, 2026—new homebuyers could see building costs drop by up to $98,000. When you factor in HST relief, total buyer savings may reach as high as $230,000. These measures, alongside funding commitments of up to $697.2 million from provincial and federal governments (pending agreements), are set to unlock more than 120,000 new housing units in Vaughan, making homeownership and renting more accessible for everyone. Planned improvements—from water and stormwater upgrades to wider roads, a Highway 7 bridge replacement, and a new fire station—will support this growth and enhance daily living. While funding is still subject to final agreements and city contributions, it’s encouraging to see concrete steps toward greater affordability and choice. As someone who’s dedicated my career to helping clients save money and achieve their real estate goals, I’m always monitoring these developments to ensure you’re in the best position to benefit.

As a native Torontonian with decades of experience in our local real estate market, I keep a close eye on the trends that matter to buyers and sellers alike. In Early-Q3, we saw around 6,000 home sales across Greater Toronto—down about 1% from last year after several months of year-over-year gains, but still roughly 3% higher month-over-month. The average selling price held steady at approximately $1 million, while the typical-home benchmark dipped about 5% from last year. This continues to give buyers a bit more leverage in many neighbourhoods around the GTA.

Breaking it down by housing type, detached sales nudged up by about 1% year-over-year, while semi-detached sales slipped by 6%, townhouses were down by 3%, and condo apartments stayed almost level in Early-Q3. Inventory is tightening, too—new listings dropped to around 14,500 (an 18% yearly decrease), and active listings came in at about 26,100, which is 12% lower than last year. Fewer fresh listings mean buyers have less choice.

Interestingly, as sales account for a larger portion of available homes, the board notes that shrinking supply could eventually tip the scales, supporting more balanced conditions if confidence picks up. Whether you’re buying, selling, or investing, staying informed about these shifts is key to making smart, money-saving decisions—something I always prioritize for my clients with a user-friendly, no-pressure approach.

Toronto’s seen a notable shift in affordability this past quarter—one that every buyer and investor should have on their radar. In late Q2 2026, our city posted one of the strongest affordability gains nationwide, driven not by cheaper financing, but by softer home prices. With representative home values falling around 4% for the quarter, Toronto recorded a ~2.5-point affordability improvement, nudging the payment-to-income ratio closer to 68%. As someone who’s helped clients navigate Toronto’s property market since 1987, I’ve rarely seen such a clear example of price—not mortgage rates—leading the way for better buying conditions. For those hoping mortgage rates alone will ease the path, the outlook suggests otherwise for the coming year. Now, more than ever, factors like income growth and keeping price appreciation in check are key to unlocking further affordability. My focus remains on guiding clients to make the most of these market shifts, always with a user-friendly, no-pressure approach and a commitment to delivering more real estate services for less.

Toronto’s housing starts have dipped 10% compared to last year, which is certainly catching the attention of anyone watching our city’s real estate market. As a native Torontonian and broker who’s been helping clients buy, sell, and invest here since 1987, I always look at the full picture behind the headlines. Right now, there are 37 building permits in Toronto linked to 6,600 condo apartment units where construction hasn’t kicked off yet. While the data may show a slowdown, it’s important to remember that many of these projects likely secured pre-sales well before the recent drop in sales activity. The numbers you see for housing starts often lag behind what’s really happening, since large Toronto developments move from planning to pre-sales, then permits, and finally construction. So, while it looks like starts are down, several permitted condos could still break ground soon. Having worked with both residential and income property investors for decades, I know how important it is to read between the lines and understand where opportunities may emerge—even when the stats suggest a pause.

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.