The GTA real estate market had a standout November 2024, with home sales soaring 40% year-over-year, driven by stabilized interest rates and strong buyer activity. Detached homes led the surge, with average prices reaching $1.8M in Toronto and $1.49M in the 905 regions, reflecting over 30% growth in key segments. The overall average home price increased 8% compared to last year, as limited inventory continues to create a competitive market

As we approach 2025, market demand is expected to remain strong due to population growth and tight supply. Buyers should consider entering the market in early Q1 before the spring rush, while sellers can capitalize on motivated buyers and low inventory during the winter months.

Thinking of buying or selling in 2025? Contact me for personalized advice and strategies to make the most of this dynamic market.

Sources: Toronto Regional Real Estate Board (TRREB) November 2024 Report; Market Insights.