March 2025 Canadian Real Estate Market Performance
The Toronto real estate market faced a transitional period in February, influenced by economic uncertainty and harsh weather conditions. Significant snowfall disrupted market activity, leading to delayed transactions and slower sales.
Despite these challenges, new listings rose by 5.4% year-over-year, reaching 12,066 properties on the MLS® System. However, home sales remained subdued, with a 27.4% decline compared to February 2024. The MLS® Home Price Index Composite benchmark dipped by 1.8%, while the average selling price fell 2.2% year-over-year to $1,084,547.
Condominium listings increased noticeably, particularly for investor-owned units, creating new opportunities for first-time buyers. While the freehold market remained more stable, improving economic conditions and potential interest rate cuts could drive increased home sales as spring approaches.
For Buyers: Increased inventory in both the condo and freehold segments presents more options for prospective buyers. With declining average rents and improving affordability conditions, now may be a strategic time to enter the market before economic recovery accelerates demand.
For Sellers: While February’s sales slowed, early signs of recovery and improved buyer interest offer promising opportunities. Sellers should remain mindful of pricing trends and consider listing soon to capitalize on renewed buyer activity anticipated in the coming months.
At your convenience here is the Market Report March 2025
DASH Property Management
