Housing Prices:
According to the Canadian Real Estate Association the average home price in the GTA reached $1,135,215 in October 2024. This shows a 0.8% increase year-over-year and 2.5% monthly growth.

The City of Toronto itself saw a 3.4% increase in demand even though prices are still high. Outside Toronto it is still very mixed. For example Mississauga saw a decline and Brampton saw an increase. It very much depends on area affordability. I always recommend consulting a real estate professional for more detailed information.

Demand:
From what I have seen in Ontario, the real estate market in some areas is slow. Condos in particular are not seeming to sell as quickly as they use too. There is still a high demand for starter homes.

Interest Rate Expectations and Impact:
Rates are expected to decrease into 2025 which should have the effect of increasing buyer demand.