Image by: unsplash

In 2025, Toronto's housing market is projected to experience significant growth, potentially surpassing Vancouver as Canada's most expensive real estate market. Toronto home prices are expected to increase at about double the rate of Vancouver's, driven by various economic factors favoring Ontario. In November 2024, the average home price in Toronto was $1,106,050, marking a 2.6% year-over-year increase, while Vancouver's average was higher at $1,172,100 but had declined by 0.9% over the same period.

Despite this upward trend, the condo market in Toronto is expected to remain relatively stagnant, with prices projected to stay flat or decrease slightly by the end of the year. In contrast, detached homes are anticipated to see the highest demand, with price growth estimated at around 6%. However, some experts believe that Vancouver's geographic constraints and limited land availability will continue to keep its housing prices higher than Toronto's in the foreseeable future.

Read the full article on: CTV NEWS