Love is in the air…and so are more listings!
The GTA real estate scene is keeping us on our toes, and if you’re thinking about buying, selling, or just want to stay informed - you’ll need to know this.
Prices Are Holding, But The Market’s Shifting
The average home price? $1,040,994, up 1.5% from January 2024. Detached homes are still the MVPs, while condos are seeing a little more hesitation. But with potential rate cuts coming, buyers might start jumping back in sooner than later.
Listings are Up - Way Up
Sellers came to play! New listings surged 48.6%, giving buyers way more options. But here’s the kicker—sales actually decreased 7.9% YOY. That means more inventory, more choices, and buyers with a bit more negotiating power than before.
So, What’s The Move?
If you’re buying, you’ve got options—lots of them. If you’re selling, pricing strategy is everything right now. And if you’re just watching? Buckle up, because 2025 is shaping up to be an interesting ride.
If you want to talk about market trends or considering a move this year, let’s make sure you’re set up for success! Send me a message.
Another Rate Drop
The Bank of Canada just dropped rates again—that makes six cuts in a row!
If you’re keeping track, the latest trim brings the rate down by another 25 basis points, now sitting at 3%.
The goal? Keep the economy chugging along while keeping inflation in check.
For anyone with a mortgage (or thinking about getting one), this could mean lower borrowing costs and maybe even a little extra breathing room in the budget.
Of course, the fine print always matters—lenders move at their own pace, and not every rate change is created equal.
Unsure about how this impacts you? I am here to chat.
