January 2025 Real Estate Market Update

What Can Sellers Expect in Today's Market?

• Moderate price growth: The average selling price is expected to reach $1,147,000, up 2.6% from 2024.

• More competition: A well-supplied market, especially for condos, means sellers may need to be strategic with pricing.

• Stronger price appreciation for single-family homes: Detached and semi-detached homes will likely see higher demand than condos.

• Impact of economic factors: While lower mortgage rates will boost demand, trade disruptions could temporarily affect consumer confidence.

• January 2025 sales performance: 3,847 home sales, down 7.9% year-over-year.

What Can Buyers Expect in Today's Market?

• More options: New listings reached 12,392 in January 2025, up 48.6% year-over-year.

• Lower borrowing costs: Mortgage rates are decreasing, making homeownership more affordable.

• Increased market activity: TRREB forecasts 76,000 home sales in 2025, a 12.4% increase over 2024.

• Gradual price increases: The MLS® Home Price Index Composite benchmark rose 0.44% year-over-year in January 2025.

• Stronger price growth for single-family homes: These properties may appreciate faster than condos, so buyers should plan accordingly.

• Current market price: The average selling price in January 2025 was $1,040,994, up 1.5% year-over-year.

Overall, the 2025 GTA housing market is shaping up to be more active, with increased sales and moderate price growth. Buyers will benefit from lower mortgage rates and a higher supply of listings, while sellers, especially those with single-family homes, can expect steady demand.

However, economic uncertainties may impact confidence in the short term. As the market moves into the spring season, both buyers and sellers should stay informed and prepared for changing conditions. Contact me today to discuss how I can help you make the most of your real estate goals in 2025. Let's find the right opportunity for you!