Warm, not hot: Hope for a spring surge in 2025

The Toronto real estate market is showing signs of improvement. While active listings are still up, sales are increasing at a faster pace, suggesting a shift in favor of sellers. Interest rate cuts, extended amortizations, and government incentives have contributed to this change. However, the market is still considered “warm,” not “hot,” with homes spending more time on the market compared to last year.

Condo sales have seen significant gains, likely due to improved affordability. Detached homes have also performed well, possibly supported by upzoning and anticipatory demand. The data suggests a re-urbanization trend, with some buyers reconsidering suburban lifestyles.

Despite the positive signs, there are concerns regarding the stock market, population growth, and rising unemployment. The spring market is expected to be reasonably strong, with potential for further growth.

Read More on the potential surge:
https://realestatemagazine.ca/october-data-suggests-potential-spring-surge-in-gta-market/

Source: Daniel Foch, Real Estate Magazine