Greater Toronto home sales jumped 40.1% year-over-year in November, attributed to more affordable borrowing costs. The average selling price increased, while the benchmark price saw a minor decline compared to previous months, signaling a potential market recovery in 2025.
Greater Toronto home sales surged in November, with 5,875 homes sold, marking a 40.1% increase compared to the same month last year. The Toronto Regional Real Estate Board attributes this rise to lower borrowing costs , making properties more affordable. The average selling price saw a 2.6% increase to $1,106,050, while the composite benchmark price, which represents the typical home, showed a 1.2% decline from the previous year, a smaller decline compared to previous months.
Board president Jennifer Pearce anticipates an accelerating market recovery in 2025
Toronto Home Sales Real Estate Borrowing Costs Market Recovery 2025
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