For Jan ’25, the GTA real estate market saw 14.5% more homes sold monthly, but down 7.9% annually. Average prices were down 2.5% from the prior month but were still up 1.5% from last year.
Low-rise homes generally rose in values year-over-year, but condos were the exception. Their values had a slight decline, due in part to pressures from high supply in both sales and rental markets along with falling rents.
Although interest rates have come down, threats of tariffs and inflation may keep some buyers cautious. On the other hand, if tariffs are implemented, potential tightening of new build supply could intensify competition among buyers of resale homes later in the year.