📅 Goldie Newsletter - February 2025 🏡

The latest Toronto Market Outlook and Year in Review indicates a well-supplied housing market will keep home price growth aligned with inflation, offering moderate price increases across the GTA this year.

Lower mortgage rates anticipated for Spring 2025 are expected to increase buyer activity, although trade disruptions may temporarily affect market confidence.

📅 February 2025 Market Snapshot

• 🏠 Home Sales: 4,037 (🔻27.4% from February 2024)
• 📈 New Listings: 12,066 (🔺5.4% year-over-year)
• 💰 Average Selling Price: $1,084,547 (🔻2.2% from February 2024)

📊 Sales by Home Type

• Detached: 1,580 sales
• Semi-Detached: 349 sales
• Townhouse: 725 sales
• Condo Apartment: 1,161 sales

📊 Average Prices by Home Type

• Detached: Avg. Price: $1,377,430
• Semi-Detached: Avg. Price: $1,047,728
• Townhouse: Avg. Price: $904,986
• Condo Apartment: Avg. Price: $670,675

📈 2025 Real Estate Forecast

• 🏡 Home Sales: 76,000 (🔺12.4% from 2024)
• 💲 Average Selling Price: $1,147,000 (🔺2.6% from 2024)

Lower mortgage rates and increased housing supply will attract more buyers, particularly as we approach spring, though temporary economic disruptions could impact consumer confidence.

CLICK HERE for the Full Market Report.

Find Your Home Value

JANUARY 2025 MARKET UPDATE

The latest Toronto Market Outlook and Year in Review report highlights that a well-supplied housing market will keep home price growth steady at the rate of inflation. The average GTA home price is expected to increase moderately throughout the year.

As borrowing costs decrease, more buyers will step into the market leading into spring 2025, increasing sales and prices. However, trade disruptions could temporarily affect consumer confidence.

January 2025 Market Snapshot:

📉 3,847 home sales – down 7.9% from January 2024
📈 12,392 new listings – up 48.6% year-over-year
🏡 Average selling price: $1,040,994 – up 1.5% from January 2024

Total Residential Transactions

Average Selling Price

Total New Listings

2025 Forecast:

📊 76,000 home sales (up 12.4% from 2024) – driven by lower borrowing costs and increased supply
💰 Average price: $1,147,000 (up 2.6% from 2024) – with stronger price growth for single-family homes

What This Means for You

With more supply and lower mortgage rates, this year could be a great time to make a move. Whether you’re buying, selling, or just exploring options, I’m here to help you navigate the changing market.

CLICK HERE for the Full Market Report. 

Find Your Home Value

DECEMBER 2024 MARKET UPDATE

The Greater Toronto Area housing market underwent a significant transition in 2024, and understanding these trends can help you make informed decisions. Here’s a detailed look at how the year unfolded and what’s ahead for 2025.

2024 Market Highlights

• Sales & Listings:

  • A total of 67,610 sales were recorded in 2024, marking a 2.6% increase from 2023.
  • 166,121 new listings, up 16.4% year-over-year, provided buyers with more options.
  • This surplus of listings helped keep prices in check and gave buyers greater negotiating power, especially in the condominium apartment market.

• Average Selling Price:

  • The average price for all home types in 2024 was $1,117,600, a slight decline from $1,126,263 in 2023.
  • Detached homes held their value more effectively, while condos experienced more noticeable price declines.

• Interest Rates & Affordability:

  • High borrowing costs remained a barrier for many buyers throughout the year.
  • The Bank of Canada’s back-to-back interest rate cuts in the latter half of 2024 brought some relief, setting the stage for improved affordability and market activity in 2025.

• Market Segments:

  • Sales of single-family homes, including detached properties, increased, while condo apartment sales declined.

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  • Many first-time buyers stayed on the sidelines, awaiting more interest rate relief and better affordability in the coming year.
    
    
    
    
    

    Key Trends to Watch in 2025

    Looking ahead, the market is expected to benefit from:

    • Further interest rate reductions, which could unlock more buying potential.
    • Stable home prices, which remain below historic peaks, offering opportunities for both buyers and investors.
    • Policy discussions around consumer sentiment, development, and affordability, will shape market conditions

    December Snapshot

  • In December 2024:

    • 3,359 homes were sold, slightly down from December 2023.
    • New listings continued to rise, contributing to a well-supplied market.

CLICK HERE for the Full Market Report.

Find Your Home Value