The GTA real estate market this November reported a home sales soared by an impressive 40.1% compared to last year, with 5,875 homes sold. New listings were also up by 6.6%, but since sales grew much faster, the market is tightening up.
The average home price in the GTA climbed to $1,106,050, up 2.6% year-over-year, driven by a higher number of detached home sales. Detached homes, especially in Toronto, saw prices rising faster than inflation. Condos, however, remain a budget-friendly option, giving buyers more room to negotiate.
This activity is fueled by lower borrowing costs and improved economic conditions, creating the perfect setup for an exciting 2025 in real estate!
Check out November’s GTA Market Watch charts for a quick overview:
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