Coronavirus and Real Estate: What You Need to Know
It’s safe to say that 2020 has not been the year that most people imagined. With the recent switch from office work, busy stores, and constant local and global travel to a remote and almost entirely quarantined lifestyle, you might be wondering what this all means for your moving plans. Fortunately, with any challenge arises opportunity, and it’s no different for Oakville real estate. Whether you’re thinking of buying or selling, or are already in the process, here’s a look at the current state of affairs and what steps local realtors have taken to keep the economy flourishing.
Some Key Advantages in The Buyer’s Market
If you were considering the idea of shopping for a home, you might have just entered one of the best times this year to buy. While many houses were initially pulled from the market, as we near the return to an open economy, sellers are projected to relist their houses. An initial drop in prices is also expected to occur as a result of the economic downturn. So, if you’re in the market to buy, be sure to follow market trends closely as the perfect time may be just around the corner.
A Steady Return to Great Selling Prices
If you were hoping to sell your home this year but are nervous about this end of the market, know that good opportunities can be expected here too. It’s all about timing. This is also where opting for the help of a realtor can earn you more for your home as they have the local area expertise that you may not, and they have access to a buyer’s market. For example, there are trends in different areas that are seeing the demand for condos for sale below the $600,000 mark growing at an increasing rate. In others, newly developing areas are seeing to-be developed luxury condos and homes sell out, regardless of the current situation.
Open Houses
You’re probably thinking that open houses have ceased to exist, but that wouldn’t be entirely accurate either. In fact, open houses have not only continued to take place in person, many have also moved online. For the in-person open houses that have continued, many precautions have been put in place to ensure the safety of everyone participating.
If you’ve been shopping for an Oakville condo for sale or even homes in the area, you’ll notice that masks are worn by everyone entering the property; there’s always access to hand sanitizer; and the maintenance of a safe social distance is kept as much as possible. This has proven to be a local success both in terms of safety measures and the success of the transaction.
Virtual Tours
While many think that virtual tours will become the primary option for an open house going forward, this format has actually been widely used for a few years now. Thanks to the progressive minds in the industry, real estate investors have been enjoying high-end virtual tours from both a buyer’s and seller’s end. For instance, the market for Oakville waterfront condos and houses for sale has peaked international interest, making high-quality virtual tours a must.
One exciting thing that we can expect in response to this pandemic is an increase in the application of emerging tech, such as augmented reality and virtual reality. These respective softwares can be used to enhance virtual tours used in displaying houses for sale. Although these fields have already made their way into real estate, the push for safety through remote visitations will mean a faster adaptation to these emerging areas.
Market Impact
There’s no doubt that the real estate market has been impacted by Covid-19, including Oakville homes for sale. That said, the nature of the situation has affected the market quite differently from traditional market downturns. If you look at pre-pandemic sales for Mississauga condos and properties in the Toronto area, “There were 4,643 sales reported… accounting for 58 per cent of total transactions and representing a 49 per cent increase compared to the first 14 days of March 2019.” Despite this statistic as representing pre-quarantine numbers, experts are suggesting that they could be an indication of a return to these accelerating market prices, even if it takes until early 2021.
This is due to a combination of factors including a return to employment for millions of furloughed Canadians coupled with a crunch on the supply side of the market, which will lead to increased demand as per traditional market forces. So, while the market might not bounce back as early as tomorrow, now is the time to start building a strategy for your future real estate plans.
For Advice on Any of Your Real Estate Needs, Consult the Experts
The year may not have begun how we had all hoped, but that doesn’t mean it won’t finish up strong. Don’t get lost in a sea of negative headlines, and instead take a strong stance at building future-proofing strategies, starting with your real estate investment. If you were keen to browse through Oakville condos or were still looking to sell your home, reach out to our team at Alex Irish. As leaders in the local and global real estate markets, we can answer all of your questions and get you back on the road to making a great investment in real estate and your future.
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August 2025 GTA Real Estate Market Update | Regan Irish
The August 2025 GTA Real Estate Market Update reflects renewed momentum and affordability in Toronto, Oakville, Mississauga, Burlington, and Muskoka. Thanks to steady interest rates and appealing home prices, July proved surprisingly dynamic. Let’s dig into the numbers and what they mean for you.
Interest Rates Remain Stable — Affordability Fueling Activity
In July 2025, the Bank of Canada maintained its key rate at 2.75%, its third consecutive pause. With lower borrowing costs now more accessible, affordability is encouraging a wave of renewed buyer activity.
GTA Market Overview: Sales Surge, Prices Slightly Dip
- Home Sales: 6,100+ transactions region-wide, marking a 10.9% increase YoY and the strongest July since 2021.
- Month-over-Month: Seasonally adjusted sales rose 13% from June to approximately 5,744 units, the biggest monthly gain in nine months.
- New Listings: Up 5.7% YoY, totaling 17,613 new offers.
- Price Trends:
- The MLS® Home Price Index (HPI) Composite Benchmark fell 5.4% YoY.
- The average GTA selling price dropped 5.5% YoY to around $1,051,719.
- Word on the street indicates the HPI drifted slightly lower—about $979,000, down 0.2% from June.
What It Adds Up To: Buyers are back in force—sales are outpacing new listings while prices softened, creating renewed market opportunities.
City Highlights
Toronto
A more balanced landscape—but some segments remain soft. Condos and detached homes see inventory rising; semis are steadier.
Oakville, Mississauga, Burlington & Muskoka
While TRREB doesn’t break down by city in these reports, regional trends suggest:
- Mississauga & Burlington: Strong rise in listings and dipping average prices give buyers leverage.
- Oakville: Stability in demand for luxury keeps discounts modest.
- Muskoka: Continued strong interest in sub-$2M waterfront properties should benefit from broader GTA momentum.
What This Means for You
- For Buyers:
Renewed affordability, rising inventory, and favorable interest rates make August a prime time to move. - For Sellers:
A more balanced market—strategic pricing and quick response will be key to success. - For Investors & Cottage Buyers:
Strong July sales in the GTA point to increasing investor interest; Muskoka remains a high-value lifestyle and investment destination.
Work With the GTA Real Estate Experts
Whether you’re planning to buy a Muskoka cottage, invest in a luxurious Oakville property, or explore options across Toronto, Mississauga, or Burlington, now is the time to act.
Regan Irish & Associates specializes in luxury, resale, and investment properties across the GTA and Muskoka. Our market insight and negotiation skills help you get the best results—whether buying, selling, or investing.
1320 Cornwall Rd Unit 103, Oakville, ON L6J 7W5
905.842.7677
Visit reganirish.com
Let’s make today’s market your opportunity—contact us today!
Ultimate Guide to Downsizing Your Home in Canada
Alex Irish & Associates and The Regan Team Announce Strategic Merger
Two of the most respected names in real estate, Alex Irish & Associates and The Regan Team, are excited to announce a strategic merger that will combine their expertise, resources, and market reach. This partnership of Regan Irish & Associates brings together the strengths of both firms, offering an enhanced real estate experience for clients across Southern Ontario, including expanding into new regions like Collingwood and Muskoka. The merger reflects both brokerages’ long-standing commitment to providing high-quality, relationship-focused service while leveraging new technologies and business strategies to ensure their clients receive unparalleled support.
“Alex is the consummate professional,” said Matthew Regan, CEO of The Regan Team. “She embodies the qualities of a person I would trust with my own home sale, and I am excited to partner with her to combine the best of both our brokerages. Our goal is to create a work culture that allows our agents to thrive, while being confident and equipped to provide the service our clients deserve. Our clients are going to benefit immensely with a wider and deeper net of potential buyers and an even further reach in marketing and advertising.”
Alex Irish, Founder of Alex Irish & Associates, emphasized that this partnership is the next natural step for her business. “By combining our resources and efforts we knew we’d be able to create a better real estate experience for our clients, our agents and business partners.” she explained. “This merger allows me to focus more on client relationships while also mentoring our agents who can continue to offer that same high level of service. Matthew has built a business model that aligns with my long-term vision, allowing us to scale while still maintaining the personal touch. Simply put, we are better together.”
Alex has built her brand over decades, particularly in the Oakville area, where her name is synonymous with excellence in real estate. Her personal approach, based on referrals and repeat business, has earned her a loyal clientele. Matthew has focused on recruiting top agents and scaling his business, growing The Regan Team to one of the top brokerages in Canada. This merger offers an exciting opportunity to grow into new territories. Together, the merged brokerage will have 15 offices spanning from Niagara to Toronto to Muskoka. This expanded presence means more resources for clients, from enhanced marketing capabilities to a wider net of potential buyers.
The merger will officially take effect on October 31, 2024, and the new branding and operations will be rolled out in the coming months.
About Alex Irish & Associates
Alex Irish & Associates, led by Alex Irish, is a highly respected name in Oakville, known for its personalized, referral-based business model and long-standing relationships with clients. Alex has built her brand on trust, excellence, and attention to detail, qualities that will remain at the forefront of the merged firm.
About The Regan Team
The Regan Team has a long-standing reputation for innovation, process-driven operations, and a focus on agent recruitment and development to provide the highest level of service for their clients. Under Matthew’s leadership, the brokerage has expanded its presence across Ontario, providing agents with the tools and support needed to succeed in a competitive market. For more information on this exciting merger, please contact Matthew Regan.