Toronto home sales expected to rise 12% this year

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The Toronto Regional Real Estate Board says it is forecasting a 12.4 per cent increase in home sales for 2025, with 76,000 properties changing hands throughout the region as lower borrowing costs lead to improved affordability.

The board expects the average selling price to reach $1,147,000, up 2.6 per cent compared with last year, with stronger price growth for single-family homes.

“A growing number of homebuyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a moderate uptick in average selling prices in 2025,” said TRREB chief market analyst Jason Mercer in a press release.

“However, the positive impact of lower mortgage rates could be reduced, at least temporarily, by the negative impact of trade disruptions on the economy and consumer confidence.”