Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$767,818
MoM +$31,035 +4.2% up $31,035, 4.2% versus January 2018 YoY −12.3% down 12.3% versus February 2017
Source: TRREB MarketWatch, February 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2018
In February 2018 the average selling price across the Greater Toronto Area rose 4.2% to $767,818 versus January 2018, and sales jumped 28.8% to 5,175.
Headline indicators
All TRREB areas · all home types
Median price — The midpoint sale price. Less affected by a few very high or low sales than the average.
$656,000
MoM +$31,000 +5.0% up $31,000, 5.0% versus January 2018 YoY −8.3% down 8.3% versus February 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$751,700
MoM +$8,500 +1.1% up $8,500, 1.1% versus January 2018 YoY +3.2% up 3.2% versus February 2017
Sales — Firm transactions reported through the MLS® System during the month.
5,175
MoM +1,156 +28.8% up 1,156, 28.8% versus January 2018 YoY −35.4% down 35.4% versus February 2017
Dollar volume — Total value of all sales in the month.
$3.97B
MoM +$1,012,330,906 +34.2% up $1,012,330,906, 34.2% versus January 2018 YoY −43.4% down 43.4% versus February 2017
New listings — Properties newly listed during the month.
10,520
MoM +1,935 +22.5% up 1,935, 22.5% versus January 2018 YoY +7.0% up 7.0% versus February 2017
Active listings — Listings available at month end.
13,362
MoM +1,468 +12.3% up 1,468, 12.3% versus January 2018 YoY +147.4% up 147.4% versus February 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
25
MoM −7 days −21.9% down 7 days, 21.9% versus January 2018 YoY +92.3% up 92.3% versus February 2017
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus January 2018 YoY −8.3% down 8.3% versus February 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
49.2%
MoM +2.4 pp +5.1% up 2.4 pp, 5.1% versus January 2018 YoY −39.6% down 39.6% versus February 2017
Months of inventory — Active listings divided by monthly sales — how long the current stock would take to sell. Computed here, not TRREB’s trend figure.
2.6
MoM −0 −12.8% down 0, 12.8% versus January 2018 YoY +283.2% up 283.2% versus February 2017
The month in 60 seconds
- Across all TRREB areas, sales jumped 28.8% to 5,175 versus January 2018.
- Across all TRREB areas, new listings jumped 22.5% to 10,520 versus January 2018.
- Across all TRREB areas, active listings jumped 12.3% to 13,362 versus January 2018.
- Across all TRREB areas, the median selling price rose 5.0% to $656,000 versus January 2018.
- Across all TRREB areas, the average selling price rose 4.2% to $767,818 versus January 2018.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1.7%
Q4 2017
Toronto employment growth
4.5%
January 2018
Toronto unemployment rate
5.9%
January 2018
Inflation (CPI, year-over-year)
1.7%
January 2018
Bank of Canada overnight rate
1.25%
February 2018
Prime rate
3.45%
February 2018
1-year mortgage rate
3.34%
February 2018
3-year mortgage rate
4.15%
February 2018
5-year mortgage rate
5.14%
February 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,169 | +510 +30.7% up 510, 30.7% versus January 2018 | $1,000,736 | +$29,913 +3.1% up $29,913, 3.1% versus January 2018 | −17.0% down 17.0% |
| Semi-detached | 454 | +90 +24.7% up 90, 24.7% versus January 2018 | $756,894 | +$41,110 +5.7% up $41,110, 5.7% versus January 2018 | −8.4% down 8.4% |
| Att/row/townhouse | 483 | +127 +35.7% up 127, 35.7% versus January 2018 | $684,427 | −$13,365 −1.9% down $13,365, 1.9% versus January 2018 | −7.8% down 7.8% |
| Condo townhouse | 364 | +45 +14.1% up 45, 14.1% versus January 2018 | $578,002 | +$58,066 +11.2% up $58,066, 11.2% versus January 2018 | +3.0% up 3.0% |
| Condo apartment | 1,631 | +356 +27.9% up 356, 27.9% versus January 2018 | $529,782 | +$22,290 +4.4% up $22,290, 4.4% versus January 2018 | +10.1% up 10.1% |
| Link | 64 | +26 +68.4% up 26, 68.4% versus January 2018 | $720,476 | +$38,397 +5.6% up $38,397, 5.6% versus January 2018 | −14.4% down 14.4% |
| Co-op apartment | 4 | −2 −33.3% down 2, 33.3% versus January 2018 | $780,438 | +$468,788 +150.4% up $468,788, 150.4% versus January 2018 | +16.5% up 16.5% |
| Detached condo | 3 | +2 +200.0% up 2, 200.0% versus January 2018 | $1,297,633 | +$787,633 +154.4% up $787,633, 154.4% versus January 2018 | +93.0% up 93.0% |
| Co-ownership apartment | 3 | +2 +200.0% up 2, 200.0% versus January 2018 | $354,667 | −$9,833 −2.7% down $9,833, 2.7% versus January 2018 | +38.0% up 38.0% |
Average price by home type
13 months to February 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| Feb '17 | 1205815 | 826359 | 742413 | 561191 | 481194 |
| Mar '17 | 1214422 | 858202 | 788366 | 606166 | 518879 |
| Apr '17 | 1205262 | 845230 | 773577 | 613470 | 541392 |
| May '17 | 1141041 | 824667 | 727729 | 575925 | 531659 |
| Jun '17 | 1055863 | 773879 | 688364 | 551338 | 519784 |
| Jul '17 | 1000336 | 704207 | 665440 | 541144 | 501750 |
| Aug '17 | 968494 | 715167 | 665551 | 535066 | 507841 |
| Sep '17 | 1015067 | 752379 | 663335 | 547540 | 520411 |
| Oct '17 | 1008207 | 764293 | 692241 | 555226 | 523041 |
| Nov '17 | 996527 | 730668 | 698436 | 547709 | 516965 |
| Dec '17 | 989870 | 730726 | 662596 | 519961 | 503968 |
| Jan '18 | 970823 | 715784 | 697792 | 519936 | 507492 |
| Feb '18 | 1000736 | 756894 | 684427 | 578002 | 529782 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto E10 +36.1% up 36.1%
- Toronto E08 +27.6% up 27.6%
- Toronto C11 +23.6% up 23.6%
- Toronto C03 +23.5% up 23.5%
- Toronto C14 +18.4% up 18.4%
Bottom 5
- Toronto C09 −41.1% down 41.1%
- Toronto W01 −21.4% down 21.4%
- Brock −19.7% down 19.7%
- Toronto C12 −17.5% down 17.5%
- Georgina −15.1% down 15.1%
Sales, month-over-month
Top 5
- Toronto E02 +108.3% up 108.3%
- Toronto C03 +106.7% up 106.7%
- Pickering +95.5% up 95.5%
- Toronto C11 +84.6% up 84.6%
- Toronto C09 +83.3% up 83.3%
Bottom 5
- Toronto E06 −36.4% down 36.4%
- Toronto W10 −21.2% down 21.2%
- Toronto W09 −20.0% down 20.0%
- Uxbridge −9.1% down 9.1%
- King no change no change
Areas below the sales threshold are excluded — with a handful of sales, a couple of transactions can invent a swing that is not a market move.
Market balance
Sales-to-new-listings and months of inventory, computed from this month’s counts
All TRREB areas
SNLR
49.2%
prior month 46.8%
Months of inventory
2.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 49.2% sales-to-new-listings, but a seller's market at 2.6 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
59.5%
prior month 54.6%
Months of inventory
1.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 59.5% sales-to-new-listings, but a seller's market at 1.9 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
44.3%
prior month 43.1%
Months of inventory
3.0
905 total reads differently on the two balance measures — balanced conditions at 44.3% sales-to-new-listings, but a seller's market at 3.0 months of inventory. They measure different things, so the split is worth noting.
These are computed here from the month’s raw counts. TRREB also publishes its own trend-smoothed SNLR and months-of-inventory figures, which are shown separately on the area pages and are not the same measure.
Where I work
Downtown TorontoMidtownScarboroughYork RegionDurham Region
Downtown
$713,881
- Sales
- 447
- SNLR
- 65.8%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,383,916
- Sales
- 197
- SNLR
- 49.7%
- MOI
- 2.3
Aggregated across 6 districts · View →
Scarborough
$618,230
- Sales
- 317
- SNLR
- 55.6%
- MOI
- 2.2
Aggregated across 8 districts · View →
York Region
$898,888
- Sales
- 805
- SNLR
- 34.5%
- MOI
- 4.5
Region total · View →
Durham Region
$591,404
- Sales
- 604
- SNLR
- 50.2%
- MOI
- 2.3
Region total · View →
Average price for a multi-district group is weighted by dollar volume, not an average of averages — that would give a district with three sales the same weight as one with three hundred.