Residential Market Update
With this ever changing real estate market, it is important to be well educated on current market trends to make the best decision.
Note:
Hello,
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In February 2025, there were 4,037 home sales, down 27.4% from February 2024. Seasonally adjusted, February sales also saw a month-over-month decline compared to January 2025. The average selling price dropped to $1,084,547, a 2.2% decrease from the same month last year.
TRREB's Chief Market Analyst Jason Mercer noted that home buyers seem to be losing confidence in the economy. Uncertainty surrounding our trade relationship with the United States is likely causing some households to adopt a "wait-and-see" approach to purchasing a home. However, if trade uncertainties ease and borrowing costs continue to decrease, we could see a significant rebound in home sales during the second half of the year.
While uncertainty often presents challenges, it also brings opportunity. With some buyers and sellers choosing to stay on the sidelines, those who remain active in the market will find more opportunities. Despite sales volume decreasing by over 20% and the number of homes available for sale increasing, prices have only slightly softened, highlighting the resilience of the Greater Toronto Area's real estate market. We anticipate a decline in borrowing costs in the coming months, improving affordability and opening up a window of opportunity for those who stay engaged in the market's activity.
Best,
Lawrence
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