JANUARY 1 2025
Row
In 2024, there were 4,647 row home sales, a gain of over two per cent compared to last year and the second-highest total on record. The growth in sales was possible thanks to the 18 per cent gain in new listings, most of which occurred for homes priced above $400,000—the gains in new listings relative to sales supported inventory growth in 2024.
By the year's end, supply improvements helped take the pressure off home prices. However, the annual benchmark price rose by 14 per cent as conditions favoured the seller throughout the year. Prices rose across all districts in the city, with the gains ranging from a low of 12 per cent in the city centre to over 20 per cent in the most affordable districts in the North East and East.
Apartment Condominium
Easing sales in the second half of the year offset earlier gains, causing apartment sales to slow by four per cent compared to last year. However, last year was a record high for sales, and the 7,568 transactions this year reflect the second-highest year on record. At the same time, new listings have been on the rise, supporting inventory gains and a shift toward more balanced conditions by the end of the year.
As more supply became available, we did see some price adjustments in the last quarter of the year. However, the quarterly decline did not offset the strong gains that occurred earlier in the year, and the annual benchmark price rose by 15 per cent. Price growth ranged from a low of 11 per cent in the city centre to over twenty per cent in the North East, East and South districts.