Toronto & Etobicoke Real Estate Market Update
Toronto & Etobicoke Real Estate Market Update
The latest numbers have been reported by The Toronto Regional Real Estate Board (TRREB) for February 2025. Homebuyers in Toronto and Etobicoke continued to enjoy plenty of options in the resale market as February saw lower home sales compared to the same time last year. Listing inventory remained high, giving buyers stronger negotiating power.
What can we expect going into the spring market? Check out this month’s Toronto & Etobicoke Real Estate Market Update for a full breakdown of where the market was last month and where it might be headed.
GTA REALTORS® reported 4,037 home sales through TRREB’s MLS® System in February 2025 this is down 27.4% compared to February 2024. There were 12,066 new listings in the MLS® System representing a 5.4% increase year-over-year.
There was a 4.1% increase in the average sales price bringing it to $1,084.547 representing an increase of $43,553 from last month. However, the amount of homes for sale reached 19,536 an increase of 13.8% from last month and a whopping 75% from February 2024. This represents 93% above the historical average. Both inventory and sales remain far from historical norms, representing significant shifts in the current Toronto and Etobicoke Real Estate markets.
“Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average household to comfortably afford monthly payments on a typical property. Fortunately, we anticipate a decline in borrowing costs in the coming months, which should improve affordability,” said TRREB President Elechia Barry-Sproule.
While sales have improved, rising inventory has allowed buyers more options across all housing types. This will more than likely continue to moderate price growth and shape the market in the months to come.
What This Means for You
“On top of lingering affordability concerns, homebuyers have arguably become less confident in the economy. Uncertainty about our trade relationship with the United States has likely prompted some households to take a wait-and-see attitude towards buying a home. If trade uncertainty is alleviated and borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half of this year,” said TRREB Chief Market Analyst Jason Mercer.
Further interest rate policies and economic conditions will be key factors in determining whether buyer demand can keep pace with growing inventory.
Is the time right for you to buy?
The next
interest rate announcement is set for March 12th where we will more than likely see the Bank of Canada reduce the overnight lending rate another 0.25% to get ahead of any impact on the Canadian economy.
With high inventory levels and lower mortgage rates—2025 might turn out to be the year you make that move to the home you’ve been thinking about for a while. If you have been thinking of buying a larger home you will have more homes to choose from and be in a good position to cash out on the equity you have built over the years. Your dream home may be closer than you think.
Let’s connect to help get you there!
Is it time to sell your current home?
With more buyers entering the market, competition for homes will heat up. As a Seller you need to focus on an attractive marketing strategy encompassing an attractive list price and playing up your homes best features. There are many strategies to show your home in it’s best light and improve it’s features to stand out from the competition.
There you have your Toronto & Etobicoke Real Estate Market Update for February 2025. Be sure to stay tuned for my update next month as we continue to monitor the shifting Toronto & Etobicoke Real Estate Market.
Whether you’re planning to buy, sell, or invest, staying informed about market trends will be key to making confident real estate decisions.
Are you looking for expert guidance? Please get in touch with me to chat about your goals for 2025!
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