The Greater Toronto Area housing market ended 2024 with fascinating contradictions. Annual sales reached 67,610 units, up 2.6% from 2023, while new listings surged 16.4% year-over-year. The average selling price settled at $1,117,600, showing a marginal decline from 2023. December specifically saw 3,359 sales, a slight decrease from the previous year, with the average price at $1,067,186. Notable divergence appeared between property types, with detached homes showing resilience while condo apartments experienced more significant price pressures.

In this week's episode, we dive deep into the transformative forces shaping Canada's real estate market as we enter 2025. From the Bank of Canada's aggressive rate-cutting cycle to game-changing mortgage rule updates, we explore how these shifts are creating both opportunities and challenges across different market segments. We'll examine why Toronto's poised to potentially overtake Vancouver in pricing, why the condo market's facing headwinds, and what all this means for buyers and sellers in the months ahead.

Record-breaking rate cuts, evolving mortgage policies, and geopolitical uncertainties are reshaping Canada's real estate landscape as we enter 2025. This week's episode dives deep into the implications of recent developments and what they mean for buyers, sellers, and those facing renewal.

In this week's episode of The Last Week in Real Estate, we dive deep into the transformative changes reshaping Canada's housing market. From the Bank of Canada's fifth consecutive rate cut bringing rates to 3.25%, to groundbreaking changes in mortgage rules raising the insured cap to $1.5 million, December 2024 is proving to be a pivotal moment for real estate. We explore the 26% surge in November home sales, analyze the contrasting trends in new construction, and examine the rental market's biggest supply increase in three decades. Visit www.tanteam.com for more detailed analysis and market insights that can help you navigate these changing conditions.

In this week's deep dive into the real estate market, we explore the game-changing implications of the Bank of Canada's 50-basis point rate cut, bringing the overnight rate to 3.25%. With mortgage rates expected to follow suit and significant policy changes coming in January 2025, we're witnessing a pivotal moment in Canadian real estate. From variable-rate mortgage holders seeing immediate relief to new opportunities for first-time buyers, this episode unpacks what these changes mean for everyone in the market.

In this week's episode of The Last Week in Real Estate, we dive deep into Toronto's surprising 40% surge in November home sales and what it means for buyers and sellers. Host Kai Tan analyzes the perfect storm of market conditions: four consecutive interest rate cuts, upcoming changes to mortgage rules, and fresh employment data suggesting more rate cuts ahead. Learn why the traditional winter slowdown might not apply this year, and discover strategic opportunities in both the detached and condo markets. For comprehensive market insights and more detailed analysis, visit www.tanteam.com.

Join us for this week's deep dive into Toronto's transforming real estate landscape. From unprecedented market shifts to game-changing policy updates, this episode unpacks why new condo sales have plunged 91% below the 10-year average while entry-level homes spark bidding wars. We explore how four consecutive rate cuts have reshaped buyer behavior, why traditional starter homes might be becoming obsolete, and what December's mortgage rule changes could mean for the market. With insights from real buyers and market experts, we analyze why young professionals with substantial savings are rewriting the traditional home-buying playbook. Visit www.tanteam.com for detailed market reports and insights.

In this week's episode, we dive deep into October's remarkable 7.7% surge in home sales, breaking above the 10-year monthly moving average for the first time since rate hikes began. We explore the implications of major banks preparing for an unprecedented "mortgage war" as 55% of mortgages come up for renewal in the next two years. With housing starts up 8% and warnings of potential mortgage arrears in major markets, we analyze what these converging forces mean for buyers and sellers. Visit tanteam.com for our complete market analysis and strategic recommendations.