🚨 #MarketSnapshot
February 2025 GTA Market Update 📊
Home buyers continued to benefit from substantial choice in the Greater Toronto Area (GTA) resale market in February 2025.
- Home Sales Down: 4,037 homes sold in February 2025, a 27.4% drop compared to February 2024.
- High Listing Inventory: 12,066 new listings, up by 5.4% from last year, offering more options for buyers.
- Affordability Challenges: Current mortgage rates are putting a strain on buyers’ budgets. However, we anticipate lower borrowing costs soon, which should improve affordability.
- Economic Uncertainty: Many buyers are holding off due to trade concerns with the U.S. but expect stronger sales in the second half of the year if trade issues are resolved.
- Price Trends: The MLS® Home Price Index Composite benchmark dropped by 1.8% YOY. The average selling price fell to $1,084,547, a 2.2% decrease from last February.
🔮 Looking Ahead: If borrowing costs continue to drop and trade uncertainty clears, we could see stronger home sales in the latter half of 2025.
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