02/06/2025
How did 2025 start off for the Greater Toronto Area Real Estate Market?
➡ GTA REALTORS® reported 3,847 home sales through TRREB’s MLS® System in January 2025.
➡ Number of Sales were down by 7.9% compared to the January 2024.
➡ New listings amounted to 12,392, an increase of 48.6% year-over-year.
➡ Seasonally adjusted, January sales were up month-over-month compared to December 2024.
➡ The MLS® Home Price Index Composite benchmark was up by 0.44% year-over-year in January 2025.
➡ The average selling price was $1,040,994, an increase of 1.5% compared to January 2024.
Looking forward, TRREB Chief Market Analyst Jason Mercer stated that more homebuyers are expected to benefit from lower borrowing costs approaching the spring market in 2025. This would possibly lead to higher transaction volumes and a modest rise in average selling prices. However, he cautioned that the positive effects of lower mortgage rates might be offset, at least in the short term, by the negative impact of trade disruptions on the economy and consumer confidence and uncertainty.