The Greater Toronto Area anticipates a 5% increase in home prices by late 2025, with a median single-family home price projected at $1,523,466.
Toronto's condo market, however, is facing challenges, with a predicted 1% decline in prices due to an oversupply of inventory affecting the downtown area.
New lending policies and an influx of new condo units may provide first-time buyers with better affordability, but this window of opportunity is expected to be short-lived.
As interest rates decline, buyers are being lured back into the market, anticipating that the wave of new offerings will eventually stir competition in the condominium sector.
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