GTA Real Estate Market: 2025 Outlook and January Stats
The Toronto Regional Real Estate Board (TRREB) has shared its latest update on the GTA housing market, and there’s good news ahead! With plenty of homes available, prices are expected to rise gradually, keeping pace with inflation. This means a stable and balanced market for buyers and sellers alike.
What to Expect in 2025
As we move into the spring market, lower mortgage rates are expected to bring more buyers into the market. More activity means more homes changing hands and a steady increase in prices. However, some economic uncertainties, like trade disruptions, could temporarily impact confidence.
TRREB’s 2025 Market Predictions:
76,000 homes are expected to be sold this year—a 12.4% increase over 2024! Lower borrowing costs and more homes on the market will make it easier for buyers to take the plunge.
Average home prices are forecasted to hit $1,147,000, a 2.6% rise from last year. Single-family homes will likely see the biggest price bumps, while condos should remain more affordable.
More Housing Options Needed
TRREB is calling for more variety in housing choices, including townhomes, duplexes, and low-rise buildings—sometimes called ‘missing-middle’ housing. More options mean more opportunities for families and individuals to find homes that suit their needs.
They also stress the importance of purpose-built rentals to keep the market accessible for everyone. But for that to happen, policymakers and industry leaders need to work together to reduce high development costs and red tape.
A Look at January 2025
The year kicked off with 3,847 home sales, down 7.9% from last January. But on the bright side, there were 12,392 new listings, a 48.6% increase year-over-year! This means more choices for buyers looking to make a move.
The MLS® Home Price Index Composite Benchmark was up 0.44% from last year.
The average selling price in January was $1,040,994, up 1.5% compared to last year.
With lower mortgage rates and more homes hitting the market, 2025 is shaping up to be a great year for buyers ready to make a move.
If you’re thinking about buying or selling in Oakville or Burlington, our team at www.BuyingOakville.com is here to help. Let’s chat!
