Jan 2025 Stats And TRREB 2025 Outlook

Hi All,

For the month of January 2025, home sales in the GTA dropped 7.9% year-over-year to 3,847, while new listings surged 48.6% to 12,392. Seasonally adjusted sales increased month-over-month from December 2024. The MLS® Home Price Index rose 0.44% annually, and the average selling price grew 1.5% to $1,040,994.

This month, I would like to share the Toronto Regional Real Estate Board’s thoughts on the 2025 market. In short, TRREB predicts a balanced housing market in the GTA, with home prices rising moderately in line with inflation. Lower borrowing costs may encourage more buyers in 2025, leading to increased transactions and a slight price uptick.

I think it goes without saying that these predictions are conditional on what happens with trade tariffs.

As always, let me know if you have any questions about this information. It is crucial in this market to choose a professional team to help you maximize the value of your home! If you would like to receive an assessment of your home’s value, please reach out. If you are planning to buy this year, you will have many more listings to choose from, so let's get those searches started!

2025 TRREB Forecasts:

A total of 76,000 home sales in 2025, up by 12.4% over 2024. Lower borrowing costs, coupled with ample supply, will improve affordability and prompt more buyers to move off the sidelines.
The average selling price is expected to reach $1,147,000, up by 2.6% over 2024, for all home types combined. Price growth will be stronger for single-family homes compared to the well-supplied condo apartment market.

TRREB President Elechia Barry-Sproule stated:"As we look to the future, prioritizing housing diversity and supply remains paramount. Encouraging the development of missing-middle housing—such as townhomes, duplexes, and low-rise multi-unit buildings—is critical to delivering a range of attainable options for individuals and families. Purpose-built rentals also play a vital role in ensuring everyone has access to a place they can call home."

TRREB CEO John DiMichele added:"At TRREB, we believe the solution starts with collaboration. Traffic congestion and affordability are interconnected challenges that require integrated approaches. The current system of high development charges, taxes, and administrative hurdles only exacerbates the issues. This stalls progress on building the housing supply we need to support our growing communities."

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