In 2024, Canada’s real estate market showed mixed trends. The luxury sector remained robust, with sales of high-end homes in cities like Toronto and Vancouver remaining steady or even increasing. Price growth is expected in major cities like Vancouver, Toronto, and Montreal in 2025. On the rental side, after years of rising rents, there was a slight cooling, with national rents falling by 3.2% in December, though smaller cities experienced rent hikes. National home sales were down in December but showed improvement over the earlier months of the year, leading the Canadian Real Estate Association to predict a stronger spring market. In Toronto, condos saw significant discounts, with 80% selling below asking price during the holiday season, giving buyers an advantage in a market with high inventory.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.
* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.
