As we move into 2025, it’s a great time to reflect on 2024 and look ahead to what’s in store for the GTA real estate market.
2024 Recap: A Challenging Start, But a Strong Finish
The year began with high interest rates creating affordability challenges and low sales. However, the Bank of Canada reduced rates starting in June, and by the end of the year, transaction volumes were up by 2.5%, with prices remaining flat compared to 2023. There was more inventory available, leading to a buyer’s market, particularly for lower-priced condos, while single-family homes saw increased sales.
What’s Ahead in 2025: Optimism for Growth
Looking into 2025, we expect further interest rate cuts and improving market conditions, with sales volume and prices likely to rise for most home types. The condo market may face some pressure due to the high volume of new units, but certain locations and types will still remain strong.
How Can I Help You?
If you’re thinking about buying, selling, or just exploring your options in the GTA market, I’m here to help. Don’t hesitate to reach out—I’d love to discuss how we can make your real estate goals a reality in 2025.
Wishing you all the best this year, and I look forward to connecting soon!