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The first month of 2025 is behind us, and it seems that something a little different is starting to unfold…

Lower interest rates have started to attract the people who have been waiting to make a move over the last two years. As interest rates were high, many people stayed put. As rates started to come down, people started planning. Now that rates are getting into the sub – 4.0 % range, people are starting to make a move.

TRREB is forecasting a 12.5% rise in the amount of home sales in 2025 when compared to 2024. I think that this is a reasonable estimate, especially since this would still be below our 10-year average for home sales before this current market cycle.

We’re already seeing more listings come to market, offering incredible options for buyers in 2025. This influx of listings will keep our market balanced in low-rise homes (detached, semi-detached & townhomes) and we’re likely to continue with a buyer’s market for condo apartments.

Home prices have increased by an average of 2.6% compared to this time last year. I expect to see a similar growth pattern throughout the year, keeping pace with inflation.

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