January activity was seasonally normal, but the market softened most in higher-density homes. “Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB®’s Chief Economist.

 Josh's quick take aways 

🔑 Key Numbers
• 🏠 1,234 sales (⬇️ 15% YOY)
• 📉 Sales-to-new-listings ratio: 44%
• 📦 Inventory: 4,391 homes (highest January since 2020)

 🏘️ Market Breakdown
• 🟢 Detached: Balanced market
  • 53% ratio | under 3 months supply
• 🟡 Semi-Detached: Balanced, supply rising
• 🟠 Row Homes: Inventory building, buyer-friendly
• 🔴 Apartments: Oversupplied
  • 35% ratio | 5+ months supply 

💰 Price Snapshot
• 📊 Overall benchmark: ~5% lower YOY
• 🏡 Detached: $724,000 (⬇️ 3% YOY)
• 🏘️ Semi-Detached: $667,000 (⬇️ 1% YOY)
• 🧱 Row Homes: ⬇️ 5% YOY
• 🏢 Apartments: $301,200 (⬇️ 8% YOY)

 💡 Bottom Line
More choice has replaced urgency — especially in condos and townhomes — as buyers and sellers position themselves ahead of the spring market.

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