If you’re wondering how this year’s market compares to last year and what’s happening in the Greater Toronto Area (GTA), here’s what you need to know:

📉 More Homes for Sale, Fewer Sales

  • Listings are up 19% in Durham Region, giving buyers more choices.
  • However, sales have dropped 18% compared to last year, so homes aren’t moving as quickly.
  • This follows a similar trend in the GTA, where sales fell 27.4% year-over-year, while the number of listings rose 5.4%, increasing competition among sellers.

💰 Prices Holding Steady, but Negotiation is Key

  • The average home price in Durham Region is now $897,759, which is slightly down from last year’s $919,017 (-2%).
  • In the GTA, the average home price is $1,084,547, down 2.2% year-over-year.
  • More inventory and fewer buyers mean that negotiation power has shifted to buyers.

⏳ More Supply, Longer Selling Times

  • Months of Inventory (MOI) in Durham increased to 2.8 months (up from 1.1 months last year), meaning homes are taking longer to sell.
  • Days on Market (DOM) also rose slightly, from 20 to 22 days.
  • In the GTA, economic uncertainty and high mortgage rates are making buyers hesitant, but expectations of lower borrowing costs later this year could boost demand in the second half of 2025.

🌎 U.S. Tariff Threats: What It Means for Housing in Durham Region

  • There’s growing concern over new tariffs from the U.S., which could impact trade and manufacturing jobs in Ontario.
  • If businesses slow down or cut jobs due to trade uncertainty, buyer confidence could weaken, leading to fewer home sales.
  • On the other hand, if tariffs drive up costs for new construction materials, fewer new homes may be built, making resale homes more attractive.
  • If the Bank of Canada continues to lower interest rates to bolster a weaker economy, this could also lead to higher sales down the road.

🔮 What This Means for You

  • For Sellers: With more competition and longer selling times, pricing strategically and making your home stand out is essential.

For Buyers: You have more choices and negotiating power right now. If interest rates drop later this year as expected, competition could heat up again.

📞 Thinking about buying or selling? Let’s chat! We’lll help you make the most of today’s market.

Click here to book a call on our calendar or send us an email to: team@willowsgroup.ca

📊 Local Market Snapshot

🔹 Ajax

  • Average Price: $976,286 (unchanged from 2024 YTD)
  • Median Price: $945,000 (-1% YTD)
  • MOI: 2.7 months (up from 1.2 months in 2024)
  • SNLR: 45.8% (down from 60.0%)
  • Listings: +32% YTD
  • Sales: -10% YTD

🔹 Brock

  • Average Price: $787,861 (+0% YTD)
  • Median Price: $720,000 (-8% YTD)
  • MOI: 4.9 months (up from 2.4 months)
  • SNLR: 42.1% (down from 66.7%)
  • Listings: -14% YTD
  • Sales: -35% YTD

🔹 Clarington

  • Average Price: $899,845 (+6% YTD)
  • Median Price: $845,000 (+6% YTD)
  • MOI: 2.6 months (up from 0.8 months)
  • SNLR: 44.2% (down from 73.5%)
  • Listings: +9% YTD
  • Sales: -33% YTD

🔹 Oshawa

  • Average Price: $769,938 (-4% YTD)
  • Median Price: $753,000 (-3% YTD)
  • MOI: 2.6 months (up from 1.0 month)
  • SNLR: 49.7% (down from 59.2%)
  • Listings: +21% YTD
  • Sales: -13% YTD

🔹 Pickering

  • Average Price: $942,815 (-3% YTD)
  • Median Price: $892,500 (+0% YTD)
  • MOI: 3.2 months (up from 1.3 months)
  • SNLR: 38.4% (down from 57.5%)
  • Listings: +35% YTD
  • Sales: -3% YTD

🔹 Scugog

  • Average Price: $960,538 (-8% YTD)
  • Median Price: $821,000 (-15% YTD)
  • MOI: 4.8 months (up from 1.8 months)
  • SNLR: 36.1% (down from 54.1%)
  • Listings: +28% YTD
  • Sales: -10% YTD

🔹 Uxbridge

  • Average Price: $1,123,318 (+8% YTD)
  • Median Price: $1,144,000 (+19% YTD)
  • MOI: 6.5 months (up from 2.3 months)
  • SNLR: 31.4% (down from 43.2%)
  • Listings: +10% YTD
  • Sales: -35% YTD

🔹 Whitby

  • Average Price: $987,834 (-2% YTD)
  • Median Price: $925,000 (-7% YTD)
  • MOI: 2.5 months (up from 0.9 months)
  • SNLR: 49.8% (down from 61.0%)
  • Listings: +9% YTD
  • Sales: -22% YTD

📌 Key Takeaways:

✅ More inventory across all areas, meaning more choices for buyers
✅ Prices mostly stable, with some areas seeing small declines except Uxbridge & Clarington
✅ Longer selling times, with MOI up across the board
✅ Shifting toward a buyer’s market, with lower SNLR percentage