Toronto housing may be pricier than Vancouver in 2025 [Video]

This year could be the year Toronto takes the crown for the most expensive real estate market in the country.

Royal LePage President Phil Soper said while home prices in the two cities are “very close today,” that could soon change.

The average price of a Vancouver home across all property types in November was $1,172,100, which was down 0.9 per cent year-over-year.

The average price of a Toronto home across all property types reached $1,106,050 in November after a modest 2.6 per cent increase year-over-year.

“There’s a number of economic variables that are moving things ahead in Ontario and that’s translating into a strength in the housing market,” Soper told CP24.com.

“As we look ahead to 2025, we do see home prices in Toronto rising at about double the rate of Vancouver.”

Soper said 2025 will see an increase in sales volumes across all segments of Toronto’s housing market, including condos, townhouses, semi-detached …