Detached housing values surge at entry‑level markets in Vancouver and Toronto
Canada’s traditional spring housing market appears to be having a belated flourish in Canada’s two largest housing hubs.
June brought renewed life in the detached‑home sector across the Greater Toronto Area, Greater Vancouver and the Fraser Valley, with entry‑level price brackets leading the charge, according to the latest REMAX Canada “Hot Pocket Communities” report.
The analysis of 83 micro‑markets between January and June found that around 23% (19 of 83) markets saw detached‑home sales match or outpace 2024 levels, while value appreciation was seen in just over 19% (16 of 83).
Stand‑out areas included Toronto’s 416 core, where 34.2% of neighbourhoods broke even or improved, edging out the suburban 905, while in Greater Vancouver almost 29% of local markets saw more sold homes than last year.
"After a prolonged period of uncertainty, we're starting to see slow but building momentum in Canada's largest real estate markets," says Don Kottick, President, REMAX Canada. "Buyers who have been sitting on the sidelines for months, prepared and ready to pounce, are finally starting to make their moves.”
Kottick says that there has been a greater number of sales with 'subject-to-sale' clauses, especially in the Greater Vancouver and Fraser Valley markets, that provide a safety net for buyers.
“Sellers are more accommodating as well, often willing to work with buyers to achieve a sale. Timing is crucial, as buyers are well informed, and markets appear to have bottomed out," he adds.
For Millennials and young professionals playing the ‘affordability game’ growing urgency for affordable homes in Toronto was identified by REMAX Canada as a major driver in recent weeks, with many buyers in the $850,000 to $1.2 million price range worried that the window of opportunity is already starting to close.
"In fact, certain microcosms cropping up within Toronto markets — including hot pocket communities such as Leaside, East York, Riverdale, Trinity-Bellwoods, Davisville and Little Italy — are consistently experiencing healthy demand for detached homes," says Tim Syrianos, Broker, REMAX Ultimate Realty Inc. and REMAX Condos Plus. "And while many of those properties will sell in multiple offers, make no mistake — today's buyers are laser focused on value and will walk away from properties if sellers are unreasonable."
In Greater Vancouver and the Fraser Valley, most detached-home action is happening in the $1 million to $1.5 million range, but signs point to a more energized market ahead as interest rates ease and stability returns. For now, conditions remain balanced—though a few pockets are edging closer to buyer’s market territory.
Luxury buyers are staying active, with rising values across Bridle Path, Rosedale, and West Vancouver. In the first half of the year, 11 properties sold above $10 million in the GTA, almost triple the four high-end sales recorded over the same stretch in 2024.
