Each month, REM shares brokerage expansions and conversions, leadership appointments and other key industry moves. Have an announcement to share? Email your news to editor@realestatemagazine.ca by the 26th of each month, and don’t forget to include a photo!

Expansions, mergers and conversions

Sutton Group expands in the west

Real estate company Sutton Group is expanding its reach with two new offices.

This month, Sutton announced the grand opening of Sutton Beeline Calgary and Sutton Centre Kelowna.

The establishment of the new locations was strategic, says Sutton, as both Kelowna and Calgary offer “significant market opportunities for growth.” 

Sutton Beeline in Calgary is led by managing broker Zaeena Gul, while Sutton Centre Kelowna is co-led by managing brokers Emily Coates and John Skender. 

“The opening of Sutton Beeline Calgary and Sutton Centre Kelowna represents a significant step forward for Sutton,” said Beatrice Cosentini, vice-president of Sutton’s western region.

“In a market where there is increased demand for innovative solutions, this team exemplifies the forward-thinking vision and enthusiasm required to drive meaningful change in the market.”

Royal LePage welcomes Saskatchewan brokerage

Mark Zawerucha

Royal LePage is announcing the opening of Royal LePage Success Realty, based in Yorkton, Sask. 

The brokerage will serve clients in Yorkton, as well as surrounding communities including Melville, Springside, Saltcoats, Theodore, Good Spirit Lake and beyond. 

The new brokerage is led by Mark Zawerucha, formerly an associate broker with Re/Max, who brings nearly a decade of real estate experience to his new ownership role.

“In the short term, my goal is to establish Royal LePage Success Realty as a trusted name in Yorkton and surrounding areas,” said Zawerucha. “Long term, I want to grow a strong team of professionals who share my commitment to delivering outstanding service to clients.”

Executives Property Management and Century 21 Assurance Realty Ltd. join forces

Treena Piva

Property management company Executives Property Management (Formerly Real Property Management), which services Kelowna and the B.C. Interior, has merged with Century 21 Assurance Realty Ltd.

Treena Piva and Aaron Piva of Executives Property Management will continue their leadership as managing directors of property management.

Century 21 Assurance Realty is led by managing broker Kim Davies.

“Our mission has always been to serve with integrity, lead with purpose, and create value for both investors and residents,” said Treena Piva. “Together, we’re taking that promise to the next level – continuing our commitment to redefine and elevate the expectations of property management through strategic innovation, advanced technology, and next-level service.”

Corcoran Horizon Realty opens new Hamilton office

Corcoran Horizon Realty is deepening its roots in Ontario with the opening of its newest office in Hamilton. 

Heading up the office as broker/managing partner is Martinus Geleynse, who brings over 16 years of experience in real estate, marketing and community development to the role, according to a company statement. 

“Our new Hamilton office reflects our belief in the city’s resilience, diversity and unmatched character,” said Cliff Rego, CEO and broker of record for Corcoran Horizon. “Hamilton is a place of reinvention and grit, where heritage meets innovation. We’re proud to establish a presence in a city that’s not only steeped in history but also driving forward with creativity, entrepreneurship, and community spirit.”

Corcoran is already established in the markets of Kitchener, Cambridge, Port Severn and Toronto.

Odyssey Retail Advisors expands to Canada

Odyssey Retail Advisors, a premier real estate advisory firm, is expanding into the Canadian retail market with a footprint in Toronto.

Headquartered in New York, with offices in Miami, Chicago and Los Angeles, the firm advises luxury and contemporary retailers in expanding their presence worldwide and guides developers in creating upscale shopping destinations.

Joining Odyssey as part of the Canadian expansion are Casdin Parr, David Bishop and Ryan McCarthy as executive vice presidents, along with Lesia Czech as director.

Together, they bring decades of experience advising national and international retailers across the Canadian retail landscape, says a company statement.

“This is a pivotal step in Odyssey’s continued evolution as a global advisory platform,” said Rich Johnson, principal at Odyssey Retail Advisors.

“Casdin, David and Ryan are widely respected for their deep client relationships, market expertise, and strategic thinking. Their presence enhances our ability to support clients in one of the most important luxury markets in North
America.”

Important milestones

New HQ for Berkshire Hathaway HomeServices Québec

Berkshire Hathaway HomeServices Québec is celebrating the grand opening of its new headquarters in Montreal.

Located minutes from Royalmount, dubbed the largest private development underway in the province, the move marks a step forward for the brokerage, which established itself in Québec in 2020.

The 2,000-square-foot space, located in suite 290 of 5929 Trans-Canada Highway, is designed to have the look and feel of a penthouse condominium, rather than an office, according to a company statement.

The brokerage is led by founder and CEO Sacha Brosseau, who is planning to expand across the province. 

“We will grow with the right people, at the right pace,” he said in a statement. “We’ve witnessed what happens when large corporations prioritize spreadsheets over their brokers, and we are building a different kind of company—one where growth serves to strengthen and support every member of our organization.”

Engel & Völkers Ottawa signs up for another decade

Engel & Völkers Ottawa recently announced the renewal of its franchise agreement, marking a decade in Ottawa’s high-end real estate market and committing to another 10 years under license partners John King and Larry Mohr. 

Since 2016, Engel & Völkers Ottawa has expanded to four shops across the metropolitan region. 

The brokerage has become a major player in Ottawa’s luxury segment, representing 12 per cent of all properties sold over $1 million and a commanding six per cent of the overall market share, according to a company statement.

Their 150 advisors make up three per cent of the local real estate board. 

The post The Real Deal: Industry highlights for October 2025 appeared first on REM.

However, the rebound hasn’t stabilized prices in markets where affordability is strained and listings have surged.

Preliminary July figures from local real estate boards show the MLS Home Price Index continued to decline in Toronto, Vancouver and other parts of Southern Ontario and B.C.’s Lower Mainland. These regions have seen inventory rise to historically high levels.

Resale activity is picking up—most notably in Toronto—helping bring supply and demand into better balance. Over time, this could ease downward pressure on prices, according to RBC.

Prices remain more stable in the Prairies, Quebec and Atlantic Canada, where supply remains tight.

July data showed resales increased in Calgary, Edmonton, Regina and Saskatoon, building on June’s gains.

Hogue expects a broader recovery to regain traction as confidence improves, with regional price trends possibly narrowing later this year or in 2026.

“We expect a broad market recovery to get back on track across Canada as confidence builds further. Diverging price trends are likely to persist, but they could narrow later this year or next.”

Toronto

A jump in resales in Toronto confirmed the market is “turning a corner” after trade war worries dragged the market down this spring.

The Toronto Regional Real Estate Board reported 6,100 homes changed hands in July, up 13 per cent from June (seasonally adjusted) and 10.9 per cent from a year ago. 

This also marked the fourth straight monthly increase.

“This helped firm supply-demand conditions, but buyers still have the upper hand,” said Hogue.

“Decades-high inventory of homes for sale likely makes sellers more flexible to get deals done.”

Home prices continued to decline as a result, Hogue noted. The composite MLS Home Price Index slipped a further 0.2 per cent from June, and is down 5.4 per cent from a year ago.

“We expect property values will keep falling while the market gets back on a stronger footing. Affordability—while improving—will remain a big issue.”

Montreal 

“Montreal’s overall picture hasn’t changed much this year. The market’s recovery remains stagnant, but modestly tight supply supports small price gains,” said Hogue.

RBC estimates July home resales stayed within close range of where they’ve been since February on a seasonally adjusted basis. Resales are down from late 2024 levels, but still sustaining a pace that would have been considered solid before the pandemic, Hogue noted.

“Meanwhile, the number of homes for sale remains historically low, and there’s no signs of it rising in a material way with new listings falling in two of the last three months.”

Vancouver

Early signs of a rebound have emerged in the Vancouver area, said Hogue, as home resales rose for two consecutive months.

“Importantly, the upswing has brought supply and demand closer to balance. We think the sales-to-new listings ratio is now just below the threshold consistent with balanced conditions.”

Hogue said the biggest element in the market is high inventory, which is at historic levels. 

“Downward price pressure could ease if supply and demand continue to rebalance. But, we think this isn’t likely to occur quickly, nor set the stage for a rise. Severe affordability challenges will continue to be a major constraint hampering buyers’ ability to bid higher.”

Calgary

Newly built homes contributed to a build-up in inventory, and came at a time when “demand cooled in the face of economic uncertainty,” said Hogue, adding that these forces resulted in an easing of price pressure.

By July, Calgary’s composite HPI fell 3.9 per cent year-over-year.

“Still, we expect this price adjustment to be short-lived. Supply and demand are largely in balance, and active listings are far from excessive, even if it builds up further,” said Hogue.

The post Canada’s housing recovery ‘back on track’: RBC economist appeared first on REM.

More than 3,700 homes changed hands last month, with prices climbing and overbidding – where there are multiple offers and the sellers fetch at least five per cent more than asking – occurring in 11 per cent of transactions.

The share of overbid sales was similar to July 2024.

“Despite the volatility in the economy, Montreal’s real estate market experienced a very active month of July and stands out positively compared to certain Canadian markets—particularly Vancouver and Toronto—where sales and prices dropped in early spring due to disruptions caused by the first wave of U.S. tariff hikes,” said Hélène Bégin, QPAREB senior economist.

Prices are climbing amid stable inventory

The number of active listings grew by two per cent, with market conditions continuing to “favour sellers,” said the association.

Compared to July 2024, the median price for a single-family home in the Montreal area rose seven per cent to $625,000.

Condo prices were up three per cent year-over-year, while prices for multiplexes with up to five units grew eight per cent.

The post Montreal home sales jump 10% in July appeared first on REM.

Home prices in Ontario and B.C. are down 2.9 per cent and 2.4 per cent, respectively, and sales are expected to slip further in 2025.

The Canadian Real Estate Association (CREA) forecasts both provinces will rebound by 2026, with prices snapping back to 2024 levels. This could be the last chance for buyers in high-barrier markets like these to catch the market off-balance.

The pullback is mostly product-specific. In Toronto, pre-construction condo inventory ballooned to 58 months of supply—14 times more than in 2022. Many were built for investors, not residents. Developers are hitting pause as capital costs rise and sales stall, prompting a 40 per cent year-over-year drop in starts for June, according to the Canada Mortgage and Housing Corporation (CMHC).

Demand isn’t the problem. Toronto added 268,000 people last year—more than any metropolitan area in Canada. But with 32,000 units already under construction, the market is digesting a glut of product that no longer fits today’s buyer.

Vancouver is taking the opposite approach. Starts surged 74 per cent year-over-year in June, largely due to multi-unit rental builds, per CMHC. Vacancy is just 3.2 per cent, according to CoStar, and RBC says home ownership now eats up 92.7 per cent of the local median household income.

Despite high earnings, affordability is still out of reach, fueling the urgency to build. CoStar reports prices and rents in Vancouver are 150 per cent and 60 per cent above the national average.

Other Canadian markets are pulling ahead, as Montreal, Edmonton, and Calgary outpace Toronto in home starts. In June, Montreal logged 2,729 units, Edmonton 2,689, Calgary 2,300, and Vancouver 3,079—well ahead of Toronto’s 1,701, according to CMHC. Developers are building where the economics work and where demand is resident-driven.

Alberta tells a different story. After two years of sharp gains, prices are forecast to rise 4.7 per cent in 2025 and flatten in 2026—meaning buyers there have more time.

But in Ontario and B.C., affordability improved only because prices and rates dropped at once—a rare combo. With two more interest rate cuts expected this year from the Bank of Canada, sidelined buyers may soon rush back into the market.

Nationally, CMHC reported a 3.6 per cent rise in the June trendline and a 14 per cent year-over-year jump in actual starts.

However, that growth is uneven. Year-to-date, starts are down 25 per cent in Ontario and 8 per cent in B.C., while the Prairies are up 32 per cent and Quebec is up 35 per cent.

The takeaway

Canada’s housing market isn’t in freefall—it’s in reset. The correction is localized and structural.

If you’re in Ontario or B.C., this year may be your best shot to buy before the rebound begins. Elsewhere in Canada, the game is still on—but the clock’s not ticking as fast.

With national average rents declining for now, interested residents should consider taking advantage of the soft rental market.

Nicole Lechter

Nicole Lechter is a senior real estate analyst with the national assurance, tax & consultancy firm RSM Canada.

The post Ontario and B.C. home prices fall—but it won’t last long appeared first on REM.

National resales rose for the third consecutive month in June. However, overall, prices remained lower, with national declines largely driven by weaker conditions in Ontario and British Columbia, according to Robert Hogue, assistant chief economist at RBC.

Hogue says regional differences in market performance have become more pronounced. Markets in the Prairies, Quebec and Atlantic Canada are experiencing tighter supply and demand conditions, while several areas in Ontario and B.C. are facing elevated inventory, affordability challenges and worsening job prospects.

More sales activity, but prices are tempered

Nationally, home resales increased by 2.8 per cent in June from May, and by 3.5 per cent from a year ago.

“This reversed part of the drop in activity from earlier in the year when the trade war hammered confidence,” said Hogue, noting gains in key markets included Toronto (up 8.1 per cent from May), Vancouver (2.8 per cent), Edmonton (3 per cent) and Montreal (1.8 per cent).

However, the recovery has yet to stem the decline in house prices across the country.

The national composite MLS Home Price Index (HPI) edged 0.2% lower in June from May—marking a seventh consecutive drop. 

Diverging regional trends

Price declines were mainly concentrated in Southern Ontario and B.C., where “sellers fiercely competed amid a historically high number of homes for sale, while buyers faced stretched affordability conditions,” said Hogue.

The MLS HPI fell again from May to June in Toronto (-0.9 per cent), Guelph (-2.5 per cent), Niagara region (-1.5 per cent), London (-1.2 per cent), Windsor (-0.8 per cent), Cambridge (-0.4 per cent), Fraser Valley (-1 per cent) and Vancouver (-0.1 per cent). 

“These markets have seen some of the most significant weakening over the past year as supply-demand conditions shift heavily into the buyer’s favour.”

Property values remain more resilient in the Prairies (Regina, Saskatoon, and Winnipeg are up nearly 8 per cent year-over-year), Quebec (Montreal 7.3 per cent, Quebec City 16 per cent), and Atlantic Canada (Fredericton 11 per cent, Saint John 13 per cent, Halifax 4 per cent, and St. John’s 12 per cent). 

“The picture is rebalancing in Calgary and Edmonton. Homebuying leveled off this year—but is still at solid levels—and prices are easing amid growing supply,” said Hogue.

The post Canada’s housing market is splitting in two appeared first on REM.

Calgary’s residential sales over $1 million saw a modest 3 per cent uptick to 1,164 properties in the first half of 2025. Of those, 10 were in the $4 million-plus category, compared to seven in the same period of 2024, according to Sotheby’s State of Luxury report, released Wednesday.

Montreal’s luxury housing market “defied national headwinds in the first half of 2025,” reads the report. Residential sales above $1 million climbed 26 per cent year-over-year to 1,086. Of those, 22 were $4 million-plus, a 22 per cent increase from 2024. One “ultra-luxury” home sale over $10 million was reported on in the first half of 2025, in contrast to zero sales in this price segment in the same period last year. 

“Canada’s luxury real estate market continued to show resilience in the first half of 2025, despite persistent macroeconomic volatility and uncertainty,” says Effi Barak, president of Sotheby’s International Realty Canada, in a press release.

“Montreal and Calgary led performance across the country, with healthy sales activity supported by relatively attainable housing prices and measured consumer confidence. These conditions enabled upward mobility and sustained demand across the luxury market.”

Luxury pullback in Canada’s biggest cities

Toronto

Residential real estate sales over $4 million in the Greater Toronto Area fell 28 per cent year-over-year to 222 properties sold on MLS between January 1 to June 30. Sales of properties priced over $1 million saw a 23 per cent decline to 13,563 units sold.

In contrast, ultra-luxury sales over $10 million increased 200 per cent year-over-year, with twelve properties – all single-family homes – sold in the first half of the year, compared to four in the same period of 2024.

Sotheby’s experts noted an increase in ultra-luxury transactions occurring “off-market” as sellers increasingly sought greater discretion and privacy.

“While overall activity in Toronto and Vancouver remained subdued in the first half of the year, premier neighbourhoods in both cities continued to attract interest,” said Barak.

“In Toronto, ultra-luxury sales outperformed the prior year, underscoring the ongoing confidence of high-net-worth buyers in premier assets.” 

Vancouver

Vancouver’s luxury market also contracted sharply in the first half of the year. 

Sales over $4 million fell 51 per cent year-over-year, with two transactions above $10 million recorded, compared to seven in the same period in 2024.

Sales of properties priced above $1 million also fell 26 per cent compared to the same period last year.

The post Montreal and Calgary luxury sales pulling ahead in 2025: Sotheby’s appeared first on REM.

Even with recent signs of easing in tariffs, the real estate market remains sluggish, according to RBC.

Home resales fell an estimated two per cent from May to June — the third monthly decline in a row.

Still, resales are holding up at what would have been considered solid levels before the pandemic.

“June’s modest pullback may have more to do with fewer sellers entering the market than buyers shying away,” said Robert Hogue, RBC assistant chief economist, in his monthly market report.

New listings fell by roughly seven per cent from May, according to RBC data, tightening an already constrained market.

That imbalance has continued to fuel price growth. Median prices rose year-over-year in June, up 7.4 per cent for single-family homes and 6.6 per cent for condominiums.

“We think prospective sellers aren’t likely to stay away long, especially if trade worries ease. More homes for sale would help rebalance the market and dampen price increases,” said Hogue.

Cautious return of buyers to housing markets across Canada

Elsewhere in Canada, more prospective homebuyers are slowly making their way back into the market.

Local real estate board data shows slight increases in transactions between May and June across major cities such as Vancouver, Edmonton, Regina, Saskatoon, Toronto and Halifax. However, the gains reverse only a small portion of earlier declines.

“Activity is still soft in Southern Ontario and British Columbia, even though it’s stabilized,” Hogue said. “The picture is generally more robust in other parts of the country, with some exceptions.”

Price trends remain largely unchanged. The MLS Home Price Index continues to edge lower in Toronto, Vancouver and other parts of Southern Ontario and the Lower Mainland, where inventories are elevated and affordability remains a hurdle.

Meanwhile, prices are still climbing in much of the Prairies, Quebec and Atlantic Canada, supported by tight supply-demand conditions.

“While any positive development in the trade war would boost confidence and keep the housing market on a recovery course, we think the impact would most likely be gradual, especially in regions struggling with affordability,” said Hogue. “We expect diverging price trends to persist in the near term across the country.”

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