Real Estate Market Update | February 2025

by David Rizzuto

Greater Toronto Area homebuyers continued to benefit from substantial choice and negotiating power this February. Inventory levels remain high across all market areas, which is a result of lagging sales activity. Sales in February 2025 were down a substatial 27.4% compared to February last year. Unlike during the same time last year, where sales activity and pricing picked up, the first quarter of 2025 has been slower moving with little to no price growth.

However, compared to this January, February experienced an increase in sales activity in most GTA markets. Most notably, Toronto, York Region, and Durham Region saw the largest growth in sales volume in February. Most GTA municipalities also experienced slight price growth in February.

Many Ontario households are eager to purchase, move up, or downsize, but a few relevant factors are creating barriers for most individuals. Economic uncertainty fueled by the rocky trade relationship with the United States has prompted some to take a wait and see attitude towards buying or selling. Overall, buyers are still experiencing lingering affordability issues associated with higher mortgage rates and an elevated cost of living. Buyers and sellers alike are arguably less confident in the economy now compared to previous months.

If trade uncertainty is alleviated and borrowing costs continue to trend lower, the GTA could see stronger home sales activity and positive price growth in the second half of 2025.

Despite the current headlines and tariff threats, there are always opportunities in the real estate market to get ahead. Reach out to me to see how your real estate goals may be impacted and for expert advice on how to tackle the current market conditions.

To see how prices have been affected in your area, please click the link below to get access to TRREB's February Market Statistics for all areas in the GTA. The stats are broken down by average sales price, number of homes sold, number of new listings, and average days on market for each property type; detached, semi-detached, townhouses, and condos.

https://trreb.ca/wp-content/files/market-stats/market-watch/mw2502.pdf

If you want to know more about what is happening in your specific area, you can book a call with me by clicking the link below.

https://calendly.com/davidrizzuto/consultation-call?month=2025-03

Real Estate Market Update | February 2025

by David Rizzuto

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