Varsity Real Estate Market Summary – January 2025

Market Overview

The Varsity real estate market in January 2025 experienced a moderate slowdown, with total residential sales down 14% year-over-year, totaling 12 sales for the month. Inventory increased by 47% compared to the same time last year, bringing months of supply up to 1.83 months. Despite these shifts, benchmark home prices remained relatively stable at $555,900, reflecting a slight 0.1% decrease year-over-year.

Market Trends by Property Type

• Detached Homes: The benchmark price for detached homes stood at $910,400, reflecting a 4% increase year-over-year. However, sales were down significantly by 67%, with only one detached home sold. Inventory remained relatively low at six active listings.

• Semi-Detached Homes: There were no sales recorded for semi-detached homes in January 2025, and no active inventory, indicating minimal activity in this segment.

• Row/Townhouses: Row home prices remained steady at $521,100, marking a 12% increase year-over-year. Sales remained flat, with four transactions recorded, while inventory dropped by 60%, indicating stronger demand for this property type.

• Apartments: The benchmark price for apartments was $272,100, reflecting a 2% increase from the previous year. Sales were stable at seven units, while inventory grew by 57% to 13 active listings.

2025 Real Estate Outlook

• Moderate Growth in Prices: Despite a slow start in sales, prices are expected to remain stable or increase slightly, driven by limited supply and strong demand for affordable housing options like row homes and apartments.

• Inventory Rebalancing: With inventory levels rising, buyers may have more negotiating power in some segments, particularly for higher-priced detached homes.

• Continued Demand for Affordable Housing: With row homes and apartments maintaining steady price growth, this segment is likely to see continued interest from first-time homebuyers and investors.

• Economic and Interest Rate Impacts: The real estate market's performance in 2025 will depend on broader economic conditions, interest rate movements, and employment stability.

Overall, the Varsity real estate market is showing resilience despite slowing sales. Buyers may find more options available, while sellers in the higher-end detached home market may need to adjust pricing expectations to match demand.