by January 2025 kicked off with a significant shift in supply dynamics. While sales activity remained quieter than last year, the market saw a flood of new listings, setting the stage for a “well-supplied” spring market where buyers have plenty of options.
📊 The Big Picture: GTA Market Stats
- Average Sold Price: $1,040,994 (Year-Over-Year: Up 1.5%) +2
- Total Sales: 3,847 (Year-Over-Year: Down 7.9%) +2
- New Listings: 12,392 (Year-Over-Year: Up 48.6%) +2
- Days on Market (LDOM): 37 Days (Compared to 37 days last year) +1
🔍 Key Market Trends
1. An Inventory Surge The headline story for January is the supply. New listings jumped by 48.6% year-over-year, bringing over 12,000 new options to the market. This influx creates a “well-supplied” environment, ensuring that price growth remains moderate and aligned with inflation as we move through the year.+4
2. Prices Remain Resilient Despite sales being down 7.9%, home prices held firm and actually increased slightly by 1.5% compared to January 2024. This suggests that while buyers are cautious, the market floor is solid, and sellers are not panic-selling.+2
3. Preparing for the Spring Thaw While year-over-year sales are down, on a seasonally adjusted basis, January sales were actually up compared to December 2024. TRREB analysts predict that as we move toward the spring market, more buyers will move off the sidelines to take advantage of lower borrowing costs and improved affordability.+2
📝 The Bottom Line
- For Buyers: You have “ample supply” right now. With listings up nearly 50%, you can be selective. It is an ideal time to view multiple properties and find the perfect fit before competition heats up in the spring.
- For Sellers: The market is crowded. With inventory rising significantly, your property needs to stand out. Pricing and presentation are critical in a market where buyers have this much choice.
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