With 2025 just around the corner, I wanted to share what experts are saying about where the GTA real estate market is headed. Spoiler alert—it’s looking like a year full of opportunities, whether you’re buying, selling, or just keeping tabs on the market.
Here’s the scoop:
- More Buyers Jumping In: Mortgage rates are expected to ease, and some lending rules are changing (like longer amortizations and more flexibility for homes over $1M). That means more people are likely to take the plunge into homeownership—especially first-timers. More about these new rules in an upcoming email.
- Prices Edging Up: After a bit of a dip in 2024, prices are forecasted to recover with a modest 3-4% bump. For homeowners, that’s a reassuring trend; for buyers, it’s still a great time to lock in value before prices climb higher.
- A Balanced Market: The market is evening out! With new listings on the rise, buyers can take their time (and maybe negotiate a bit more). At the same time, sellers can feel confident knowing demand is still strong in the GTA.
- A Solid Investment: The GTA continues to be one of Canada’s most sought-after regions. Whether you’re buying your first place or building your portfolio, the long-term potential here is hard to beat.
If you’ve been toying with the idea of buying, selling, or just want to chat about how all this might affect your plans, let me know! I’d love to help you navigate the market and make the most of what’s coming in 2025.
Here’s to a successful and exciting new year!
P.S. If you’re renewing your mortgage soon, it’s especially important to know where you stand. A clear picture of your home’s current value could help you make informed decisions before locking in new terms. If you would like to get an up to date value of your home in today's market click the link below or call me, I'm always happy to chat!
If you would like to get an up to date value of your home Click here
Sources: CREA Market Forecast【9】, TRREB Market Updates【10】.