Resale Home Market in the City of Toronto (January 2025)

by Mahesh Khatri

The Toronto real estate market in January 2025 experienced a mix of price fluctuations and increased sales activity, reflecting shifting trends among buyers and sellers. Despite economic uncertainties and interest rate adjustments, homebuyers and investors remained active, keeping the market dynamic.

Average Home Prices in January 2025

Detached Homes: The average selling price for detached homes in Toronto reached $1.58 million, marking a 0.5% year-over-year increase. However, compared to December 2024, this represents a 2.8% decline.
Condo Townhouses: Condo townhomes had an average selling price of $870,000, reflecting a 3% decrease compared to January 2024.
Condo Apartments: The average price for a condo apartment was $690,000, remaining relatively stable compared to last year.

Market Activity and Sales Growth

January witnessed a notable surge in sales, particularly for low-rise housing options:

Sales of both detached and semi-detached homes increased by approximately 10% compared to December 2024.
The sales-to-new-listings ratio across various property types remained above 20%, signaling a balanced yet competitive market.
Semi-Detached Homes stood out with a 54% sales-to-new-listings ratio, indicating strong demand in this segment.

Market Trends and Buyer Behavior

Several factors contributed to the market’s movement:

Interest Rate Adjustments: The Bank of Canada’s approach to stabilizing mortgage rates has influenced buyer confidence.
Inventory Levels: While new listings increased slightly, supply remains tight in desirable neighborhoods, keeping prices stable.
Shifts in Buyer Preferences: Many first-time homebuyers are opting for condo townhomes or semi-detached homes due to affordability concerns.

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