Toronto home sales and average prices fell in December, but more listings offer buyers hope for 2025.

In December, Greater Toronto home sales declined by 1.8%, with 3,359 homes sold, and the average price dropped 1.6% to $1,067,186. Despite high interest rates posing affordability challenges, the market saw a 16.4% rise in new listings, giving buyers more choices and preventing wide price hikes. The Toronto Regional Real Estate Board expects further improvements in 2025 due to anticipated Bank of Canada rate cuts and home prices remaining below historic peaks.

2 months ago
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