Disconnect in the Greater Toronto Area Real Estate Market

You can't escape the news articles, blog posts and outcries on social media about todays crazy housing market.   Here's some insight into what's happening now from the perspective of an active, full-time and high producing Realtor. 

The economics of why prices are so high:  simply put, low supply and high demand, fueled by the low cost of borrowing!   And this supply/demand issue is also putting pressure on the rental market as well.  

Advice from a listing Agent - The public likes to lay blame for this crazy market on agents.  Simply put, we are tasked to get the highest price for our sellers when we take a listing.   Right now the psychology of buyers in this market, for better or for worse is that:

  • underpricing a property slightly brings in more buyers 
  • more buyers who view a home results in more offers
  • more offers usually results in a higher sale price

I have tried listing closer to asking price, and in my experience it results in less buyers viewing the home & fewer offers

Can we always predict the sale price? No, because realistically: 

  • the next buyer (who may have lost out on other properties) may offer substantially more than the last comparable sale
  • the buyer who purchased the last home at 'substantially more' has bought a home, and is now off the market
  • there may be more (or less) homes for sale than before, resulting in more (or less) competition

As a buyer, make sure your Realtor explains all this to you.  Make sure you understand how the seller has chosen to sell the home on offers night - if you don't know, ask!  The more information you have the more you can develop a good offer strategy. 

Advice as a buying Agent -  As a buyer understand there is a disconnect between the List Price and the Sale Price.  What does that mean?  Anyone can set up a true auction and list a home for $1.  If the home is worth $1.3 million - there will be a buyer willing to pay market value for the house. And the seller will not be willing to sell for under market value - make sense? 

I have seen homes in my neighborhood that I value at  $1.3 million be listed for $899,000 and $1,100,000.  Guess what?  They both sold for market value!  The lower list price did not mean that you could scoop up the price for less.  

So make sure you're looking at homes that have sold in your price range as a gauge for what you can buy.  Understand that house will likely sell for more a month from now!  

Multiple offers are usually bell-curved, so don't be discouraged at putting in an offer - If I get 10 offers on a property or 20 offers on a property they are bell curved.    1-2 offers at asking or below (assuming the house is priced below expectation), the majority clustered together somewhere in the middle, and 2 or 3 offers at the top.  So if you are in the running, you have far less competition than you think! 

And yes, I have successfully won an offer where the house was drastically underpriced based on recent sales.  There were 43 offers & my buyer did not overpay based on comparable prices!  

Play the long game - Financially speaking, getting in the market is everything.  If you feel you're over extending yourself with the offer price,  do two things: 

  1. Ask your lender what your monthly payments will be at different purchase prices.  You may be surprised to see that low interest rates and longer amortization periods mean monthly payment differences are lower than you'd expect.
  2. Project 5 years forward.  Would you be able to save the same amount the property will appreciate during that time? (likely not) 

Would open bidding solve the issue? Open bidding has been raised as a solution to this problem for a while.  You may remember that was one of the Liberals housing platforms during the last election. 

You've probably seen this style of live auction that's used in places like New Zealand and Australia. They're experiencing property supply issues there, and open bidding has not solved the issue!  Did you know that prices have risen 16.4% in Australia & 25.9% in New Zealand - and that's when buyers know what their competition is bidding!  Here are some other recent news articles on open bidding.  

Here is a link to why the Financial Post thinks blind bidding will push prices even higher

Here is link to an article on Open Bidding by Global News

Here is a link to an article on Real Estate Practices around the World


Recent Blog Posts

What Is Wilmot Creek?

Wilmot Creek is a popular 55+ adult lifestyle community in Newcastle, Ontario, part of Clarington on the beautiful shores of Lake Ontario. Known for its resort-style amenities and active retirement living, this gated neighbourhood features over 1,000 homes, many social clubs, activities galore  and a welcoming, close-knit atmosphere.

At the heart of Wilmot Creek is a  9-hole golf course and a large recreation centre, making it one of the most sought-after active adult communities near Toronto. Homes are situated on leased land, with monthly fees covering utilities, amenity access, landscaping, and snow removal—providing a truly maintenance-free lifestyle.  Read more about how that works when you're purchasing below in the "Buying in Wilmot Creek" section

The community is gated for security and privacy, with a calm, golf-cart-friendly environment (yes—residents often cruise around in their golf carts!). Roads inside Wilmot Creek are limited to 30 km/h, adding to its safe and relaxed atmosphere. 

Recreation & Amenities at Wilmot Creek

One of the main reasons people choose to buy a home in Wilmot Creek is the incredible range of amenities and activities designed for an active, social, and wellness-focused retirement lifestyle**:

Highlights include: 

Golf: 9-hole course steps from your front door

Swimming: Two outdoor pools and an indoor pool

Sports courts: Tennis and pickleball

Fitness & activities: Gym, large event hall, woodworking shop, craft rooms

Lifestyle features: Dog run, community gardens, waterfront walking trails

Social clubs: Arts & crafts, gardening, photography, and much more

Events: Bingo, dances, live shows, movies, potlucks, and card nights

At Wilmot Creek, there’s always something happening—whether you want to stay active, meet new friends, or simply relax by the water.

The recreation centre - the heart of Wilmot Creek

 

Location & Surroundings

Wilmot Creek enjoys a prime location in Newcastle, Ontario, just east of Bowmanville and less than an hour from Toronto. With easy access to Highway 401, residents can quickly reach Durham Region, the GTA, or the Kawarthas for weekend getaways.

Many of the homes, along with the golf course and recreation complex, feature stunning Lake Ontario views—a rare feature that makes Wilmot Creek one of the most desirable retirement communities in Ontario.

Many homes have beautiful Lake Ontario views

 

Homes in Wilmot Creek

What Types of Homes Are Available at Wilmot Creek? Homes in Wilmot Creek are bungalows, designed for comfort and convenience of one level living.   Floorplans typically feature open living spaces, single-floor layouts, and low-maintenance designs that suit a relaxed retirement lifestyle. 

Older homes in the community are built without a traditional basement; newer builds have a full foundation and some also have garages.  Over time some homes have been renovated, others are in what is called 'original condition'.  Homes here range in age from 1987 - recently built.  Here are some pictures to give you an idea of the styles:

Bungalow with Garage & Full basement in Wilmot Creek

Bungalow with double garage in Wilmot Creek 

Example of older style of bungalow in Wilmot Creek 

 

 

Buying vs. Leasing Land: How Homeownership Works in Wilmot Creek

Unlike a traditional subdivision, Wilmot Creek homes are located on leased land.  Residents own their homes but lease the lot. Monthly fees cover land lease, amenities, groundskeeping, and services like snow removal—making life virtually maintenance-free.    Homes are bought and sold by homeowners just like any other freehold home.   

Any updates and repairs are made by the homeowner, as it's a freehold home, not a condo where there may be restrictions and rules on renovations. 

Wilmot Creek Homes for Sale: What Buyers Should Know

Homes for sale in Wilmot Creek vary in size and price, but all include access to the community’s exclusive amenities.  Because the neighbourhood is age-restricted (55+), it’s important to understand buyer eligibility and the community approval process before purchasing.

How much do homes cost in Wilmot Creek?

At the time I wrote this article, there are homes for sale from $328,000 - $748,000 prices vary depending on the age of the home, renovations, whether there is a garage or basement.  

Because you're buying a land lease home, you don't pay provincial land transfer tax, which is a great savings.  Also, property tax is bundled into your monthy fees!

I've created a special search for homes in Wilmot Creek;

Here is the link:

Homes for Sale in Wilmot Creek

Location & Surroundings

Where Is Wilmot Creek Located?

Wilmot Creek is located in Newcastle, Clarington, just east of Bowmanville south of Highway 401. Its convenient location offers quick access to the GTA while maintaining a peaceful lakeside setting. 

Residents have easy access to grocery stores, restaurants, medical services, and shopping in Newcastle, Bowmanville, and Oshawa. Day trips to Toronto, the Kawarthas, or Prince Edward County are also simple thanks to Wilmot Creek’s central location.

What residents love about living at Wilmot Creek

Security: Wilmot Creek is a **gated community**, which reduces outside traffic and enhances security. Roads within the neighbourhood have a **30 km/h speed limit**, and golf carts are a common and convenient way to get around.

Community: Ownership at Wilmot Creek is restricted to residents aged 55 and over Like many adult lifestyle communities, buyers must be **approved** to ensure the neighbourhood maintains its active adult focus.  And yes family and grandkids can visit! 

Friendly Community: Residents often describe Wilmot Creek as having a **resort-like feel with a small-town sense of community**. Neighbours know each other, social opportunities are endless, and the lifestyle is both active and relaxed.

Moving to Wilmot Creek

Pros and Cons of Living in Wilmot Creek:

Pros:

  • Resort-style amenities and clubs
  • Gated security and safe, friendly environment
  • Stunning Lake Ontario setting
  • Maintenance-free lifestyle with land lease fees covering services
  • Homes are reasonably priced
  • You own your own home and can make changes to it as you like
  • "lock up and go" if you love to travel or are a snowbird
  • Homes are bungalows, so no stairs, all your living is on one level


Cons:

  • Homes are on leased land, not owned lots
  • Community approval required for buyers
  • Resale rules may differ from traditional freehold homes

How to Buy or Sell a Home in Wilmot Creek

If you’re considering a move to Wilmot Creek, work with a real estate agent familiar with land-lease and 55+ communities.  Understanding the resale policies, monthly fees, and buyer eligibility requirements will help avoid surprises.  A seniors real estate specialist like me can also help you with selling and downsizing your existing home. 



Frequently Asked Questions About Wilmot Creek


Q: Where is Wilmot Creek located?

A: Wilmot Creek is in **Newcastle, Clarington, Ontario**, on the north shore of Lake Ontario, just east of Bowmanville and less than an hour from Toronto.


Q: Is Wilmot Creek only for retirees?

A: No, you don't have to be retired, but owners do have to be 55+. It’s designed for active adults and retirees who want a maintenance-free, resort-style lifestyle.

Q: Do you own the land at Wilmot Creek?

A: No, homes in Wilmot Creek are on leased land. Residents own their houses but pay a monthly land lease fee that covers utilities, grounds maintenance, and access to amenities.

Q: What amenities does Wilmot Creek offer?

A: Amenities include a **9-hole golf course, indoor and outdoor pools, tennis and pickleball courts, a fitness centre, hobby rooms, community gardens, waterfront trails, and over 100 social clubs and activities.**

Q: Do buyers need approval to purchase a home in Wilmot Creek?

A: Yes, buyers must meet the **55+ age requirement** and go through a community approval process before purchasing.

Q: How much are the monthly fees at Wilmot Creek?**

A: Monthly land lease and maintenance fees typically range around $1,300 per month at the time this article is published depending on the home and lot. These fees cover land rental, property tax, snow removal, groundskeeping, and access to amenities.

Q: Are pets allowed in Wilmot Creek?

A: Yes, Wilmot Creek is pet-friendly. The community even has a dog run and plenty of walking trails.

Q: What types of homes are available at Wilmot Creek?

A: Most homes are bungalow-style, single-floor layouts designed for convenience and comfort. Homes vary in size, features, and price, with many offering Lake Ontario views.

Thinking of moving to Wilmot Creek?  Here's how to get started:  Call me at 416-562-5002 or email me at:  [email protected]


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Move-In Ready Townhome for Sale in Pickering Village East

Welcome to this beautifully updated condo townhome in the highly sought-after Pickering Village East community.  Bright, modern, and absolutely move-in ready, this home really is everything a first time homebuyer dreams of!  Or if you're looking for great value in a turnkey property - this has all the right features.

The main floor boasts stylish updated flooring throughout the open-concept living and dining area as well as the kitchen, creating a warm and cohesive feel. With granite counters, an under-mount sink, newer stainless steel appliances, a wine fridge, and plenty of cupboards for storage the kitchen is more spacious than in many detached homes!  Upstairs, you’ll find three bedrooms with large closets, and a beautifully updated 5 piece washroom.  The finished basement includes a walk-out to a private, fenced yard and patio — an ideal spot for relaxing or entertaining.

Unlike many nearby townhomes, this property offers the comfort of forced air gas heating and central air conditioning. Lawn care is included through the property management company, making this home a true low-maintenance lifestyle choice; and it's pet friendly!

Affordable Homeownership in Pickering

Pickering offers exceptional value compared to many neighbouring areas in the GTA. Homes here often provide more space for your budget while still being close to major highways, transit, and amenities. This makes Pickering an attractive option for buyers who want affordability without sacrificing convenience.   

What makes 168-1915 Denmar different than other condo towns in Pickering?

If you start searching for townhouses for sale in Pickering you'll find a lot of choices, at many price points.  But on closer look you'll start to compare value - and you'll notice that not all townhomes are alike.  Many townhouses have electric heat, which is expensive nowdays and with no ductwork in place, you can't add central air conditioning.  Many townhouse complexes have underground parking (you usually get one spot) while this home has a garage and parking on the driveway for 2 more cars.   Many of the newer townhouses are built far from shopping, transit or the highway.  And the newer townhouses are built without yards or green space - and of course, because they're new, the price per sq. ft. can be expensive!   And maintenance fees per month can vary greatly - to over $700-$800 per month.  This well managed complex has very reasonable monthly fees. 

Quality Finishes & stylish details

One of the biggest advantages of this townhome is that it is fully move-in ready. With modern flooring, updated kitchen features, and thoughtful storage solutions throughout, you won’t need to worry about renovations or updates. It’s a turnkey option that lets you start enjoying your new home from day one.


Perfect for First-Time Homebuyers

As a home for first-time buyers in Pickering, this townhome checks all the boxes: value, comfort, and peace of mind. The manageable size, low-maintenance yard care, and modern updates make it an ideal entry point into homeownership. You’ll enjoy the confidence of moving into a property that has already been carefully maintained and upgraded.


If you're downsizing

I work with many active people who perhaps just retired but are looking for a change.   If you are tired of managing your large home and all the expenses that can add up, then this may be a great home for you (if you're active and don't mind stairs, of course!).  Stylishly updated, has a yard and garage, close to shopping and transit.  The perfect home if you spend your time at the cottage or travel south in the winter.  Many traditional condos don't allow dogs - so this is a great pet inclusive property!  Reasonable monthly maintenance includes things like water, exterior lawn care & replacement of windows, doors and roofs. 

Features of the Village East Neighbourhood

Village East is one of Pickering’s most desirable neighbourhoods thanks to its family-friendly vibe, convenient amenities, and welcoming community feel. The area is close to schools, parks, sports fields, and plenty of shopping, making daily errands simple and stress-free. Quick access to the 401 and Pickering GO Station makes commuting a breeze, whether you work downtown or elsewhere in the GTA.  And of course you'll be close to the Pickering Town Centre, where many local events like Rib Fest are held each year.

Affordable cost of ownership

Purchasing in Pickering real estate means you only pay Provincial Land transfer tax on your purchase - if you were to buy in Toronto this would be doubled. While property taxes are higher, buying a condo townhouse means you get the space of a freehold home but pay much lower property taxes. Reasonable monthly maintenance includes things like water, exterior lawn care & replacement of windows, doors and roofs.  

Benefits of Living in Pickering

Pickering combines the best of suburban comfort with urban convenience. Residents enjoy:

* Easy access to Lake Ontario and waterfront trails.

* A wide variety of shopping, dining, and entertainment options, including Pickering Casino Resort with live concerts

* Strong community amenities like recreation centres, libraries, and sports facilities.

* A growing city that continues to attract new businesses and investment, supporting long-term property value.

With its balance of affordability, convenience, and lifestyle, Pickering has become one of the top choices for homebuyers looking just east of Toronto.  Want to learn more about Pickering?  Here's a couple of links:

Pickering City Website

Festivals and Events in Pickering

Entertainment at Pickering Casino Resort

Take the Next Step

Call me to view this beautiful townhome at: 516-562-5002 - you won't be disappointed! 

Link to listing with pictures and room sizes





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Imagine stepping into a warm, welcoming home that ticks every box—from size to style to comfort. Nestled in a peaceful east Cobourg neighbourhood and just 5 houses from Lake Ontario, this modern bungalow offers spacious living without the hassle of going up and down stairs.

Bright & Thoughtful Layout

With 2+1 bedrooms and 3 full bathrooms**, this single-level gem is perfect for downsizers who want comfort with room to spare. The open-concept living and dining area is filled with natural light, sliding effortlessly into a country sized, eat-in kitchen that walks out to your massive (and brand new) deck.

Everything you need on one floor

The primary suite comes  with a walk-in closet and ensuite bath with standing shower.  A dedicated laundry room has dual laundry sinks.  Direct garage access to your double garage is so convenient!   

Outdoor Oasis

Step outside to a beautifully landscaped backyard with mature perennial plantings, vegetable beds & a great deck for entertaining.   With no houses behind you the yard is private and peaceful.   Full sun means it's great for gardening! 

Meticulously Maintained

This owners have updated all of the important things - roof, windows, furnace and central A/C - so you know you're getting good value!

Finished basement for tons of extra room

The finished basement has a huge rec-room, extra bedroom and full bath.  Not only that, there's plenty of storage in the utility & cold room and a workshop with utility sink as well!

Check out the Floor Plans for 90 East House Cres


Why This is Perfect for Downsizing Seniors

Single‑floor living equals ease and peace of mind

Simplified upkeep without sacrificing space

Modern essentials at your fingertips - features like en-suite baths, main floor laundry, double garage with direct entry; you just don't find these features in older bungalows

Moved-in and ready - neutral tones, and recent improvements—just unpack and settle in.

Great value without sacrificing a yard - this type of home is just not available near the GTA in this price range! 

Check out the fun video to get a sense of the home's layout: 




Embrace the relaxed town of Cobourg

Cobourg, Ontario is affectionately known as *“Ontario’s Feel Good Town”,  with it's mix of lakeside charm, historic character, and a community spirit.  Not only an ideal family town, it's ideal for seniors seeking a vibrant, relaxed lifestyle. With just over 20,500 residents, the town offers friendly scale and an average age near 50—making it comfortable and thoughtful for grown-up living. 

Small‑Town Warmth & convenience, too

Cobourg strikes the perfect balance: it’s small enough to feel friendly and traffic-free, yet large enough to include amenities like a regional hospital with an up‑to‑date emergency department, big-box stores, and a variety of restaurants and services.   Residents enjoy walkable shopping areas, fitness centres, and coffee shops—no long drives or crowded city centres.  And the historic downtown is just gorgeous! 

Waterfront & Outdoor Lifestyle

Coburg beach has a sandy shoreline, boardwalk, and harbour marina—an ideal spot for daily strolls or boat-watching. The waterfront trail connects to **Victoria Park** and downtown, and local biking routes offer scenic loops through Northumberland County. Outdoor activities like fishing, bird-watching, hiking, and boating are right at your doorstep.   

Not to mention 1.4 km of walking trails just steps from 90 East House Cres! 

Heritage & Culture

Cobourg’s historic centre is anchored by **Victoria Hall**, a stunning neoclassical building dating from the mid-1800s and a designated national historic site. Inside, you’ll find a beautifully restored concert hall and courtroom—the perfect backdrop to local events and performances.  The town regularly hosts festivals, markets, concerts, and heritage tours that bring neighbours together throughout the year.

Affordable

Housing and cost of living in Cobourg run about **16% lower than Ontario averages**, making it a fantastic value for retirees on fixed incomes looking for quality without compromise.  Transit is friendly and accessible, and the town maintains accessibility-focused shuttles and ride services for those who prefer not to drive. 

Tight‑Knit & Safe Community

Senior residents often highlight Cobourg’s robust community feel and sense of neighbourliness. Local organizations, wellness programs, and shared events foster connection. Many town services and volunteer groups are geared toward seniors and those easing into quieter routines. While the town's crime rate exceeds provincial averages slightly, locals regularly note its sense of safety and engagement.

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