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Written by Yousaf Iqbal, Head of IQI Canada The Canadian real estate market began 2025 with strong sales activity and increased listing inventory, reflecting shifting market dynamics across key metropolitan areas. A combination of interest rate cuts in late 2024, improved affordability measures, and growing buyer confidence has contributed to heightened activity, particularly in Toronto, Vancouver, and Montreal. Greater Toronto Area (GTA)Home sales surged by 48.6% year-over-year, demonstrating renewed buyer demand.The average selling price rose by 1.5% to $1,040,994, indicating moderate price growth in line with inflation.Market analysts expect a well-supplied housing market to keep annual price appreciation steady throughout the yearThe Toronto Regional Real Estate Board (TRREB) projects that the GTA’s housing market will see moderate price growth, keeping pace with inflation. The MLS® Home Price Index Composite benchmark rose by 0.44% year-over-year in January 2025VancouverNew listings increased by 46% year-over-year, indicating growing seller confidence.The total inventory of homes for sale grew by 33.1%, providing more options for buyers.Residential sales rose by 8.8%, contributing to a balanced market environment.MontrealVReal estate transactions jumped by 36%, surpassing historical averages.This surge was primarily driven by favorable financing conditions following the recent interest rate cuts.Toronto Market UpdateThe year started with GTA REALTORS® reporting 3,847 home sales through TRREB’s MLS® System in January 2025, marking a 48.6% year-over-year increase. On a seasonally adjusted basis, January sales increased month-over-month compared to December 2024. The MLS® Home Price Index Composite benchmark rose by 0.44% year-over-year, while the average selling price of $1,040,994 was up 1.5% compared to January 2024. The TRREB Market Outlook and Year-in-Review report suggests that a well supplied housing market will keep annual home price growth aligned with inflation, leading to moderate price increases in the GTA throughout 2025Vancouver Real Estate Market – January 2025New MLS® listings in Metro Vancouver surged by 46% year-over-year in January, as sellers entered the market with renewed confidence. According to Greater Vancouver REALTORS® (GVR), residential sales in the region totaled 1,552 in January 2025, marking an 8.8% increase from 1,427 sales in January 2024. However, this figure remained 11.3% below the 10-year seasonal average of 1,749. A total of 5,566 detached, attached, and apartment properties were newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2025. This represents a 46.9% increase compared to the 3,788 properties listed in January 2024, and 31.1% above the 10-year seasonal average of 4,247.The total number of properties currently listed for sale on the MLS® system in Metro Vancouver stands at 11,494, a 33.1% increase from January 2024 (8,633), and 33.2% above the 10-year seasonal average of 8,632.Sales-to-Active Listings Ratio – January 2025Across all property types (detached, attached, and apartments), the sales-to-active listings ratio stands at 14.1%:Detached homes: 9.2%Attached properties: 18.5%Apartments: 16.5%Quebec For more info on global insight. Click here

In December 2024, Canada's housing market cooled, with sales down 5.8% from November but up 10% for Q4. The average home price was $676,640, a 2.5% year-over-year increase, with the Home Price Index rising 0.3%. The Bank of Canada’s interest rate cuts, including a December drop to 3.25%, are expected to boost demand and listings in spring 2025.TorontoTORONTO, ONTARIO, January 7, 2025 – The GTA housing market saw modest changes in 2024. Annual sales rose 2.6% to 67,610, while new listings jumped 16.4%, offering buyers more options and curbing pricegrowth. The average home price dipped slightly to $1,117,600 from $1,126,263 in 2023, with condos seeing larger price declines than ground-oriented homes. High interest rates limited affordability, but Bank of Canada rate cuts in late 2024 improved conditions. TRREB expects further rate reductions and stable prices to enhance the market in 2025. December sales totaled 3,359, with new listings up and prices steadyVancouverMetro Vancouver home sales rose over 30% year-over-year in December 2024, reflecting strengthening demand. Annual sales reached 26,561, up 1.2% from 2023 but 20.9% below the 10-year average. Listings increased 18.7% to 60,388, exceeding the 10-year average by 5.7%. December inventory totaled 10,948, up 24.4% year-over-year. The benchmark price for all properties was $1,171,500, up 0.5% from December 2023. Despite a slow start to 2024, late-year sales momentum and stabilizing prices suggest a more active market in 2025.QuebecFOR MORE UPDATE NEWSLETTER, CLICK HERE!

In November 2024, Canada’s real estate market demonstrated strong growth, driven by lower borrowing costs and robust population increases. National home sales rose 7.7% month-over-month in October, with a 30% increase compared to the previous year. Theaverage home price reached $696,166, marking a 4% monthly and 6% annual rise, although the MLS Benchmark price showed slight declines.Regionally, the Greater Toronto Area experienced consistent sales growth and a 0.8% monthly price increase to $1.09 million. Alberta set new price records, with Calgary and Edmonton showing significant annual growth of 13.8% and 11%, respectively. Interest rate cuts by the Bank of Canada fueled buyer activity, while population growth of 3% year-over year continued to drive demand. The outlook remains positive, although potential supply shortages may place further pressure on prices.TorontoVancouver Quebec In November 2024, GTA REALTORS® reported 5,875 home sales through TRREB’s MLS® System, marking a 40.1% increase from the 4,194 sales recorded in November 2023. New listings entered into the MLS® System totaled 11,592, reflecting a 6.6% year-over-year increase. Seasonally adjusted figures showed that November sales increased compared to October.The MLS® Home Price Index (HPI) Composite Benchmark declined by 1.2% year-over-year in November 2024, representing a smaller annual decrease than in previous months. Meanwhile, the average selling price rose by 2.6% from November 2023, reaching $1,106,050. The stronger growth in the average price, compared to the HPI Composite Benchmark, is attributed to a higher proportion of detached home sales this year. On a seasonally adjusted basis, the average selling price experienced a slight decline compared to October.VancouverIn November 2024, Metro Vancouver's real estate market experienced a 28% year-over-year increase in home sales, continuing the strong demand observed in October. A total of 2,181 residential sales were recorded, though this figure remained 12.8% below the 10-year seasonal average. New listings rose 10.6% year-over-year to 3,725, slightly exceeding the seasonal average, while active listings reached 13,245, reflecting a 21.2% annual increase.The sales-to-active listings ratio stood at 17.1%, with detached homes at 12.7%, attached homes at 23.1%, and apartments at 18.7%. This balance kept prices stable; however, continued demand could exert upward pressure if listings fail to keep pace.Benchmark prices were $1,172,100 for all homes (-0.9% YoY, stable MoM), $1,997,400 for detached homes (+1% YoY), $752,800 for apartments (-1.2% YoY), and $1,117,600 for townhouses (+1.8% YoY). Townhouses demonstrated the strongest sales growth, rising 42.7% year-over-year. Explore the latest market insights and discover what’s driving real estate trends in November 2024—read the article now!Data extracted in January 2025Read more

This article is contributed by Yousaf Iqbal, Country Head of IQI CanadaIn October 2024, the Greater Toronto Area saw a strong increase in sales and new listings, although the overall price index declined. Meanwhile, Metro Vancouver experienced a rise in sales, but home prices continued to fall. Quebec’s real estate market observed increased listings but a slight dip in sales, reflecting a shift in supply and demand dynamics. These trends indicate a dynamic market where sellers are more active, yet price adjustments are ongoing across these regions. The overall landscape reflects a balance of strong demand and evolving market conditions.TorontoGreater Toronto Area (GTA) REALTORS® reported 6,658 sales through the Toronto Regional Real Estate Board(TRREB) MLS® System in October 2024—up 44.4% compared to October 2023. New listings also increased by 4.3% during the same period. The MLS® Home Price Index (HPI) Composite benchmark dropped by 3.3% year-over-year. However, the average selling price of $1,135,215 marked a 1% increase compared to October 2023. On a seasonally adjusted month-over-month basis, both the MLS® HPI Composite and the average selling price edged up slightly compared to September 2024.VancouverThe MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver iscurrently $1,172,200. This represents a 1.9% decrease compared to October 2023 and a 0.6% decrease compared to September 2024. The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 14,477, a 24.8% increase from October 2023 (11,599). This is 26.2% above the 10-year seasonal average (11,475). Greater Vancouver REALTORS® (GVR) report that residential sales in the region totaled 2,632 in October 2024, a 31.9% increase from the 1,996 sales recorded in October 2023. However, this was 5.5% below the 10-year seasonal average (2,784).QuebecWant to navigate Canada’s evolving real estate market with confidence? Contact us for tailored insights and advice!Download here