#marketsnapshot
January 2025 Market Update 
The year started off with GTA REALTORS® reporting 3,847 home sales through TRREB’s MLS® System in January 2025 – down by 7.9 percent compared to the same period last year. New listings in the MLS® System amounted to 12,392 – up by 48.6 percent year-over-year. On a seasonally adjusted basis, January sales were up month over month compared to December 2024. The MLS® Home Price Index Composite benchmark was up by 0.44 percent year-over-year in January 2025. The average selling price, at $1,040,994, was up by 1.5 percent compared to January 2024.
For 2025, TRREB forecasts:
- The average selling price to reach $1,147,000, up by 2.6 per cent over 2024, for all home types combined. Price growth will be stronger for single-family homes, as compared to the well-supplied condo apartment market.
- A total of 76,000 home sales in 2025, up by 12.4 per cent over 2024. Lower borrowing costs coupled with ample supply will improve affordability and prompt more buyers to move off the sidelines.
“A growing number of homebuyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a moderate uptick in average selling prices in 2025. However, the positive impact of lower mortgage rates could be reduced, at least temporarily, by the negative impact of trade disruptions on the economy and consumer confidence,” said TRREB Chief Market Analyst Jason Mercer.
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