A total of 3,847 homes were sold in the Greater Toronto Area (GTA) through the Toronto Regional Real Estate Board’s (TRREB) MLS System in January, down by 7.9% from the 4,177 transactions recorded in the same period last year.
Although sales activity was down, new listings in the MLS System amounted to 12,392, up by 48.6% from the 8,377 new listings in January 2024.
The MLS Home Price Index Composite benchmark was up by 0.44% year-over year in January while last month’s average selling price of $1.04 million was up by 1.5% compared to the $1.02 million in January 2024.
The TRREBA also issued a forecast that predicted 76,000 home sales will occur in the GTA market in 2025, up by 12.4% year-over year, with an average selling price to reach $1.14 million, up by 2.6% over 2024, for all home types combined.
“As we look to the future, prioritizing housing diversity and supply remains paramount. Encouraging the development of missing-middle housing—such as townhomes, duplexes, and low-rise multi-unit buildings—is critical to delivering a range of attainable options for individuals and families. Purpose-built rentals also play a vital role in ensuring everyone has access to a place they can call home,” said TRREB President Elechia Barry-Sproule.
