February 2025 Market Stats

Hi All,

GTA Housing Update: February 2025

In February 2025, the Greater Toronto Area (GTA) housing market saw a mix of ups and downs, offering buyers plenty of options but also some challenges.

Market Overview:

Home sales in the GTA declined compared to last year, but a surplus of listings continues to give buyers more bargaining power.

Affordability Concerns:

High mortgage rates have made it difficult for many GTA households to comfortably afford homes. The good news? Experts predict borrowing costs may drop soon, potentially improving affordability.

Economic Confidence:

Uncertainty in the economy, particularly trade relations with the U.S., has made some buyers hesitant. This could soon create discounted buying opportunities for those who qualify. A clearer economic outlook and lower borrowing costs may boost home sales later this year.

Key Figures:

• 4,037 home sales in February 2025, down 27.4% from last year.

• 12,066 new listings, up 5.4% year-over-year.

• Average selling price: $1,084,547, down 2.2% from February 2024.

Looking Ahead:

With recent elections and ongoing economic changes, policymakers’ decisions will have a significant impact on housing policies and consumer confidence moving forward.

BOC Rate Announcements 2025:

* Wednesday, March 12

* Wednesday, April 16

* Wednesday, June 4

* Wednesday, July 30

* Wednesday, September 17

* Wednesday, October 29

• Wednesday, December 10

The chart below illustrates the historical relationship between the Number of Active Listings (green), the Number of Transactions (orange), and Sales Price (blue). As shown, the number of active listings is returning to the normal pre-COVID range. As the gap between the Number of Active Listings and the Number of Transactions widens, we may see resistance to price increases.

Whether you're buying or selling, feel free to reach out. Now is a great time to discuss your spring and summer real estate plans!