The Toronto Regional Real Estate Board projects a 12.4% increase in home sales for 2025, driven by lower borrowing costs, improving affordability for buyers. Average home prices are expected to rise to $1,147,000, a 2.6% increase from the previous year, with bachelor homes seeing the most growth. Brokers report heightened competition in the lower market, particularly for properties near the $1 million mark. Yet, economic uncertainties, including potential trade disruptions, may temper market conditions and consumer confidence, prompting experts to advise urgency for prospective buyers.
The Toronto Regional Real Estate Board forecasts a 12.4% increase in home sales for 2025, driven by lower borrowing costs improving affordability.
TRREB anticipates the average selling price will reach $1,147,000, marking a 2.6% increase from last year, especially for single-family homes.
Broker Davelle Morrison highlighted that competition is rising in the lower end of the market, with homes priced around $1 million attracting more buyers.
Morrison advised potential buyers to act now despite economic uncertainties, as waiting could lead to higher prices due to increased competition in the future.
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