GTA Real Estate Market Update: More Affordable Homes and More Choice in March 2025

Why March 2025 Is a Great Time for Buyers

The GTA market has seen lower borrowing costs and declining home prices. This means monthly mortgage payments are becoming more manageable, offering great opportunities for first-time buyers, move-up buyers, and investors alike.

TRREB President Elechia Barry-Sproule highlighted that further interest rate cuts are expected this spring. Combined with a larger inventory of listings, buyers have more negotiating power than they did a year ago.

“Once consumers feel confident in the economy and their job security, home buying activity should improve.” – Elechia Barry-Sproule, TRREB President

Key March 2025 Market Highlights:

• 5,011 home sales were reported — down 23.1% compared to March 2024.

• New listings rose by 28.6% year-over-year, giving buyers more options.

• The average selling price dropped to $1,093,254, a 2.5% decrease from last year.

• The MLS® Home Price Index Composite benchmark fell 3.8% year-over-year.

In short, buyers have more homes to choose from, and sellers need strategic marketing to attract serious offers.

What's Influencing the Market?

With the upcoming federal election and some uncertainty around trade policies, many households are taking a "wait-and-see" approach. However, access to affordable housing remains a top concern for Canadians, and all federal parties are paying attention. This focus on housing could drive future market growth and open up new opportunities for buyers and sellers.

"Building housing will be a key economic driver moving forward." 

What Does This Mean for You?

If you’ve been thinking about buying, now is a great time to act before interest rates drop further and competition heats up again. For sellers, pricing your property right and working with an experienced REALTOR® will be critical to stand out in a crowded market.

🔑 Ready to buy or sell in Richmond Hill, Toronto, Aurora, or Newmarket?
Let's talk about your real estate goals!
📞 Contact Mehdi Taimouri today at www.Mehditeimourirealtor.com or book a free consultation.

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