property
First-Home Buyers Drive Inquiry Surge as Distillery District Prices Stabilize
Purchasers targeting starter units logged higher inquiry volumes last month as listed prices for the smallest apartments levelled off.
How we reported this
First-home buyer inquiries at Distillery District brokerages rose 14 percent in June compared with the same month last year, according to internal tallies from three local firms. The median listed price for studio and one-bedroom units under 550 square feet settled at $412,000, down $8,000 from the March peak.
The shift arrives as mortgage rates have held near 5.1 percent for 30 days and new listings of compact units increased after two quiet spring months. Local agents say the combination has drawn more salary earners under 35 back into open houses, particularly on weekday evenings.
Street-level activity
Trinity Street between Parliament and Cherry saw five first-time contracts signed in the last three weeks, all for units inside the Millworks conversion. Two blocks east, buyers competed for a pair of 480-square-foot units at The Barrel House on Mill Street, both closing within $3,000 of asking after single-weekend showings. Staff at the Distillery District Business Improvement Area noted a 22 percent jump in foot traffic at their weekend information kiosk since early June.
Those two buildings alone account for 18 of the 31 entry-level sales recorded across the neighbourhood in June. First-time purchasers used a city down-payment assistance program launched in April that covers up to $15,000 for households earning under $95,000.
Numbers and next steps
Median days on market for units priced below $450,000 fell to 19 in June, the shortest stretch since October 2025. Inventory of such units stands at 47 active listings, up from 31 in May. Agents expect the same pace through August provided no further rate moves occur before Labour Day.
Buyers still weighing an offer should check the most recent strata documents for each building and confirm current strata-fee schedules before submitting. The Distillery District BIA posts updated listing summaries every Tuesday on its public board at the corner of Trinity and Mill.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.