Introduction: A Positive Shift in the Ontario Housing Market

The Ontario housing market is witnessing a significant transformation in 2025, bringing welcome relief to buyers. Thanks to lower mortgage rates and stable home prices, affordability is finally improving across the province. For many, this marks a turning point, creating new opportunities for homeownership. In this article, we’ll explore the key trends shaping the market, the impact of recent changes, and what buyers can expect in the coming months.

Key Trends Shaping the Market in 2024 and 2025

Declining Interest Rates

One of the biggest factors influencing the housing market in 2025 is the sharp decline in borrowing costs. The Bank of Canada’s decision to implement significant rate cuts in the latter half of 2024 has had a cascading effect, making mortgages more accessible to prospective buyers. Lower interest rates translate into reduced monthly payments, opening the door for many who were previously priced out of the market.

Stable Home Prices

The average selling price for homes in Ontario in 2024 was $1,117,600, a slight decrease from $1,126,263 in 2023. This stability has been a boon for buyers, especially in a market that has seen significant price fluctuations in recent years. While prices for ground-oriented housing held steady, condominium apartments experienced more pronounced declines, offering excellent opportunities for entry-level buyers.

Increased Inventory

In 2024, new listings surged by 16.4% compared to the previous year, outpacing the 2.6% increase in sales. This rise in inventory has given buyers greater choice and negotiating power, especially in the condominium market. With more options available, buyers can find properties that better suit their needs and budgets.

Insights from Real Estate Experts

Market Dynamics by Housing Type

TRREB’s data reveals notable differences between market segments:

• Single-Family Homes: Sales of detached and semi-detached houses rose in 2024, driven by strong demand from move-up buyers and families.
• Condominium Apartments: This segment saw a decline in sales, largely due to first-time buyers waiting for more substantial rate cuts. As prices for condos have softened, 2025 may present a prime opportunity for entry-level buyers to enter the market.

Economic and Policy Influences

Economic conditions and government policies continue to play a pivotal role in shaping the housing market. In 2024, factors like monetary policy adjustments, infrastructure developments, and urban planning efforts impacted housing trends. As TRREB CEO John DiMichele highlighted, “Government policies on these fronts need to be reviewed in 2025.” Buyers and investors should keep an eye on updates to these policies to better understand their implications.

What Buyers Should Know in 2025

Opportunities in the Condominium Market

With condo prices experiencing notable declines, 2025 is shaping up to be an ideal year for first-time buyers and investors to consider this segment. Lower prices, combined with reduced borrowing costs, create a favorable environment for securing a property in desirable urban locations.

Navigating a Buyer’s Market

The increased supply of homes means buyers have more negotiating power than in previous years. Here are some tips to make the most of the current market conditions:

1. Do Your Research: Understand local market trends and compare prices in your desired area.
2. Work with a Knowledgeable Realtor: An experienced real estate agent can help identify opportunities and negotiate favorable terms.
3. Get Pre-Approved for a Mortgage: Locking in a low rate can provide clarity on your budget and strengthen your negotiating position.

Long-Term Outlook

As interest rates stabilize and affordability improves, the Ontario housing market is expected to see gradual recovery in demand throughout 2025. Buyers who act now may benefit from future price appreciation as the market normalizes.

Conclusion: A Bright Future for Ontario Homebuyers

The Ontario housing market in 2025 offers a unique opportunity for buyers to take advantage of lower interest rates and increased inventory. Whether you’re a first-time buyer looking for a condo or a family seeking a detached home, the current conditions provide the perfect backdrop for making your move. By staying informed and working with experienced professionals, you can navigate the market confidently and secure your dream home.

Ready to start your home-buying journey? Book a free consultation with Realtor Sean Findlay for expert advice, property listings, and personalized assistance tailored to your needs.

The post Ontario Housing Market Gets More Affordable in 2025 with Lower Rates and Prices appeared first on FINDLAY REAL ESTATE.

Toronto & GTA Real Estate Market Watch: November 2019 Real Estate Stats

Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in ground oriented home types, including detached houses, led the way.

New listings entered into TREB’s MLS® System in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 17.9 per cent year-over-year and active listings down 27.2 per cent.

“An increasing number of home buyers impacted by demand-side policies over the past three years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have moved back into the market for ownership housing. Based on affordability and stricter mortgage qualification standards, many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase,” said Mr. Collins.

Toronto & GTA Real Estate Market Watch: As market conditions continued to tighten in November 2019, with increased sales up against an increasingly constrained supply of listings, the annual rate of price growth continued to accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent year-over-year. The average selling price increased by 7.1 per cent year-over-year to $843,637. Both the MLS® HPI and the average selling price for the TREB market area as a whole experienced the strongest annual rates of price growth for the year in November.

“Strong population growth in the GTA coupled with declining negotiated mortgage rates resulted in sales accounting for a greater share of listings in November and throughout the second half of 2019. Increased competition between buyers has resulted in an acceleration in price growth. Expect the rate of price growth to increase further if we see no relief on the listings supply front,” said Jason Mercer, TREB’s Chief Market Analyst.

Click Here To Download Full Report

The post Toronto & GTA Real Estate Market Watch: November 2019 Real Estate Stats appeared first on FINDLAY REAL ESTATE.

Toronto & GTA Market Watch: August 2019 Real Estate Stats

Toronto Market Watch Update: Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB’s MLS® System in August 2019. This result represented a 13.4 per cent increase compared to 6,797 sales reported in August 2018. On a monthover- month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent.

Toronto GTA-wide sales were up on a year-over-year basis for all major market segments, with annual rates of sales growth strongest for low-rise home types including detached houses. This reflects the fact that demand for more expensive home types was very low in 2018 and has rebounded to a certain degree in 2019, albeit not back to the record levels experienced in 2016 and the first quarter of 2017.

Toronto GTA Real Estate Market conditions also became tighter in August 2019 compared to a year ago because, while sales were up year-over-year, new listings were down by three per cent over the same time period to 11,789. Year-to-date, growth in sales has well outstripped growth in new listings. This is why overall active listings counted at the end of August were down by more than 11 per cent compared to August 2018.

The Toronto GTA MLS® Home Price Index Composite Benchmark for August 2019 was up by 4.9 per cent on a year-over-year basis. The average selling price, at $792,611 in August 2019, was up by 3.6 per cent year-over-year. Both the MLS® HPI benchmark prices and average selling prices were up on an annual basis for major market segments. The Toronto GTA condominium apartment segment continued to lead the way in terms of price growth, followed by higher density low-rise home types and finally detached houses.

Click Here For Full Report

The post Toronto & GTA Market Watch: August 2019 Real Estate Stats appeared first on FINDLAY REAL ESTATE.