Toronto's Top 10 Real Estate Agents. February 2025 Home Prices in Toronto

📢 SPRING 2025 GTA MARKET UPDATE 📢

The Toronto Regional Real Estate Board (TRREB) released the latest real estate stats for the GTA! Here’s what’s happening in the market:

📊 Overall inventory has surged, with active listings up by a massive +76.0% compared to last year—giving buyers more options than ever.

🏡 Home prices dipped slightly as the average sold price saw a -2.2% decrease year-over-year.

📉 Sales activity slowed down significantly, with the number of homes sold dropping by -27.4% compared to last year.

📆 Homes are taking longer to sell, with the average time on the market increasing by +16.2% year-over-year.

🏘️ More homes are hitting the market, as new listings increased by +5.4%.

🏠 Property Breakdown:
🔹 Detached home prices held steady, with a +0.2% increase.
🔹 Semi-detached homes saw the biggest price drop, down -4.0% year-over-year.
🔹 Townhouses and condos also declined slightly, dipping by -2.3% and -1.3%, respectively.

🏦 What is Driving the Market? 

📌 Interest Rate Cuts vs. Buyer Caution: Despite six consecutive rate cuts from the Bank of Canada, buyers remain cautious as many wait for clearer economic signals.

📌 More Listings, Fewer Sales: A +76% year-over-year surge in active listings highlights growing seller motivation, but with demand lagging, increased supply is putting downward pressure on prices.

📌 Economic Uncertainty Weighs on Buyers: Concerns about employment, shifting U.S. trade policies, and slowing immigration are creating hesitation among buyers.

💡 What This Means for You:
📌 Buyers – With more inventory on the market, prices down and homes taking longer to sell, this is a great time to negotiate a deal! 🏡💰
📌 Sellers – Pricing strategically is crucial in today’s shifting market. The right marketing and positioning can make all the difference! 🎯

Ready to make a move? Whether you're buying or selling, Karen’s Team is here to help you achieve your real estate goals. Call for a confidential chat today! 📞 647-836-2895  

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