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Toronto’s real estate market continues to struggle as January 2025 home sales declined by 7.9% compared to January 2024, despite a significant 70.2% increase in active listings. New listings also rose by nearly 50%, with properties taking longer to sell. Despite sluggish sales, average home prices edged up 1.5%, though condos saw a 1.6% price drop, particularly in the 416 area, prompting some developers to delay or abandon projects.
The Toronto Regional Real Estate Board (TRREB) remains cautiously optimistic, predicting a 12.4% sales rebound and a 2.6% price increase by year’s end, fueled by lower borrowing costs and improved affordability.
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