January 2025 UPDATE: THE GTA & DURHAM REGION REAL ESTATE MARKET
Posted by Dan Plowman on
JANUARY 2025 UPDATE: THE GTA & DURHAM REGION REAL ESTATE MARKET
Welcome to our first market update of 2025! As we step into the new year, the Greater Toronto Area (GTA) and Durham Region are seeing shifts driven by increasing inventory, moderate price adjustments, and growing buyer activity. Let’s dive into the highlights from January 2025.
GTA Market Insights
The Toronto Regional Real Estate Board (TRREB) reports that 3,847 home sales took place in January 2025, marking a 7.9% decline from the same period last year. However, new listings surged by 48.6% year-over-year, providing more options for buyers. The average selling price for all home types in the GTA was $1,040,994, up 1.5% from January 2024.
Looking ahead, TRREB forecasts a 12.4%…
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