Out with the Snow, in with Real Estate Opportunity
Happy April Team Ballas family. After a brutal and exhausting winter it looks like our spring season is finally here. With the warmer temperatures and rain, we at Team Ballas hope that the snow, salt and dirt will be washed away… along with the memory of a tough 2025 real estate year.
Spring is full of hope and optimism and we have had a great start to the month finding homes for 4 buyers, selling 3 listings and evaluating homes every day.
April is the month of:
Easter
National Walking Day
National Garden Month
And of course, April Fool’s Day kicked things off. A must see is Rochelle’s post on April 1st, which just about summed up our festive mood that day.
Unfortunately, one thing that’s no joke right now is fuel prices (eeek):
$1.74/L locally for regular gas
a colleague in Victoria, B.C reported $2.13/L
There are still ways to save:
Shannonville (East of Belleville) → ~30¢ cheaper per litre
Stirling → ~15¢ cheaper per litre
Click the thumbnail above to watch April’s Ballas Broadcast!
HST Announcement for New Construction
As of April 1, 2026, the Ontario government, in partnership with the federal government, has introduced a temporary enhancement to the HST rebate aimed at improving affordability in the housing market.
For a one-year period ending March 31, 2027, qualifying new construction homes priced up to $1 million may effectively be exempt from the full 13% HST, offering potential savings of up to $130,000. This creates a meaningful opportunity for buyers who have been considering new builds but were previously priced out due to added tax costs.
What makes this program especially notable is that it is not limited to first-time buyers. It extends to a broader range of purchasers, including those buying a primary residence or purpose-built rental property, opening the door for both homeowners and investors to take advantage of the incentive.
The rebate begins to phase out for homes priced between $1.5 million and $1.85 million, with properties above that threshold reverting to the standard rebate.
To qualify, agreements must be signed within the one-year window, with construction timelines extending out to December 31, 2031, provided the build is underway by the end of 2028.
For those considering new construction, this is a window worth understanding, especially as builders and developers begin to respond to the added demand this incentive may create.
Notes for the Coming Months
The March 18, 2026 rate announcement brought a bit of a surprise, with the Bank of Canada choosing to hold its key rate steady. This came despite expectations from many economists that a small rate decrease might be on the table. Instead, ongoing global uncertainty, particularly surrounding the conflict in Iran, appears to have influenced a more cautious approach.
👉 The key takeaway: the market is not declining, it is adjusting.
Looking ahead, several major banks are now forecasting the possibility of rate increases of up to 0.50% later this year, which could continue to impact borrowing costs and overall affordability for buyers.
From a personal standpoint, Rochelle and I made the decision to move from a variable mortgage into a 3-year fixed rate at 3.99%, prioritizing stability and predictability in a market that continues to shift. For buyers considering a move this year, it may be worth exploring a rate hold with a lender, which can typically secure today’s rate for 90 to 120 days while you search.
On a broader level, rising fuel costs and global tensions are continuing to place upward pressure on the cost of living. Higher transportation and shipping costs inevitably trickle down into everyday expenses, contributing to ongoing inflation. While the economy showed signs of slowing earlier this year, it is still moving forward, just at a more measured pace.
Despite these factors, the housing market has shown resilience. While larger urban centres tend to experience more volatility, our local market remains relatively balanced and accessible, with buyers still having some negotiating power and sellers continuing to see activity when homes are priced appropriately.
As we move further into the spring season, preparation, timing, and strategy will continue to play a major role for both buyers and sellers navigating the months ahead.
Market Trends and Statistics
As we usually do, Team Ballas has included a chart reflecting March market activity, offering a clear comparison to the first two months of the year.
Click on the image above to view in more detail.
👉 The key takeaway:
We are entering a more active spring market with increasing inventory, steady sales, and conditions that are beginning to balance out. The next couple of months will be important in determining whether pricing stabilizes or continues to shift.
As expected heading into the spring market, inventory levels increased across all areas, with most regions seeing a rise between 10% and 25%. This is typical for this time of year, as more sellers begin to enter the market in anticipation of stronger spring activity.
The Stirling area saw a more significant jump of 59% (from 17 to 27 listings). While notable, this reflects the smaller size of that market rather than a broader shift across the region.
On the sales side, activity remained relatively consistent compared to February, which is a positive sign given the increased inventory. The standout was Quinte West, where sales rose 57% month-over-month (28 to 44 sales), helping to bring the absorption rate down and move conditions closer to a balanced market.
At this point, all areas are still technically in a buyer’s market, but not to an extreme degree. What this means in practice is that buyers are seeing more choice and maintaining some negotiating power, while well-priced homes are still attracting attention and activity.
One notable shift was in pricing, with average sale prices trending lower in March compared to February across most areas. It remains unclear whether this is the result of more lower-priced homes selling during the month or an early indication of a broader trend.
Questions about what the April 1st announcement means for your plans this spring? We’re always happy to connect.
