Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$784,558
MoM +$16,740 +2.2% up $16,740, 2.2% versus February 2018 YoY −14.4% down 14.4% versus March 2017
Source: TRREB MarketWatch, March 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2018
In March 2018 the average selling price across the Greater Toronto Area edged up 2.2% to $784,558 versus February 2018, and sales jumped 39.7% to 7,228.
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.
$670,000
MoM +$14,000 +2.1% up $14,000, 2.1% versus February 2018 YoY −12.4% down 12.4% versus March 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$760,800
MoM +$9,100 +1.2% up $9,100, 1.2% versus February 2018 YoY −1.5% down 1.5% versus March 2017
Sales — Firm transactions reported through the MLS® System during the month.
7,228
MoM +2,053 +39.7% up 2,053, 39.7% versus February 2018 YoY −40.2% down 40.2% versus March 2017
Dollar volume — Total value of all sales in the month.
$5.67B
MoM +$1,697,322,338 +42.7% up $1,697,322,338, 42.7% versus February 2018 YoY −48.8% down 48.8% versus March 2017
New listings — Properties newly listed during the month.
14,866
MoM +4,346 +41.3% up 4,346, 41.3% versus February 2018 YoY −12.8% down 12.8% versus March 2017
Active listings — Listings available at month end.
15,971
MoM +2,609 +19.5% up 2,609, 19.5% versus February 2018 YoY +103.1% up 103.1% versus March 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
20
MoM −5 days −20.0% down 5 days, 20.0% versus February 2018 YoY +100.0% up 100.0% versus March 2017
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM no change no change versus February 2018 YoY −10.8% down 10.8% versus March 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
48.6%
MoM −0.6 pp −1.2% down 0.6 pp, 1.2% versus February 2018 YoY −31.4% down 31.4% versus March 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.
2.2
MoM −0 −14.4% down 0, 14.4% versus February 2018 YoY +239.3% up 239.3% versus March 2017
The month in 60 seconds
- Across all TRREB areas, new listings jumped 41.3% to 14,866 versus February 2018.
- Across all TRREB areas, sales jumped 39.7% to 7,228 versus February 2018.
- Across all TRREB areas, active listings jumped 19.5% to 15,971 versus February 2018.
- Across all TRREB areas, the average selling price edged up 2.2% to $784,558 versus February 2018.
- Across all TRREB areas, the median selling price edged up 2.1% to $670,000 versus February 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%
February 2018
Toronto unemployment rate
5.8%
February 2018
Inflation (CPI, year-over-year)
2.2%
February 2018
Bank of Canada overnight rate
1.25%
March 2018
Prime rate
3.45%
March 2018
1-year mortgage rate
3.34%
March 2018
3-year mortgage rate
4.15%
March 2018
5-year mortgage rate
5.14%
March 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,120 | +951 +43.8% up 951, 43.8% versus February 2018 | $1,005,779 | +$5,043 +0.5% up $5,043, 0.5% versus February 2018 | −17.2% down 17.2% |
| Semi-detached | 686 | +232 +51.1% up 232, 51.1% versus February 2018 | $782,831 | +$25,937 +3.4% up $25,937, 3.4% versus February 2018 | −8.8% down 8.8% |
| Att/row/townhouse | 622 | +139 +28.8% up 139, 28.8% versus February 2018 | $690,438 | +$6,011 +0.9% up $6,011, 0.9% versus February 2018 | −12.4% down 12.4% |
| Condo townhouse | 503 | +139 +38.2% up 139, 38.2% versus February 2018 | $574,404 | −$3,598 −0.6% down $3,598, 0.6% versus February 2018 | −5.2% down 5.2% |
| Condo apartment | 2,183 | +552 +33.8% up 552, 33.8% versus February 2018 | $551,003 | +$21,221 +4.0% up $21,221, 4.0% versus February 2018 | +6.2% up 6.2% |
| Link | 90 | +26 +40.6% up 26, 40.6% versus February 2018 | $695,139 | −$25,337 −3.5% down $25,337, 3.5% versus February 2018 | −11.8% down 11.8% |
| Co-op apartment | 11 | +7 +175.0% up 7, 175.0% versus February 2018 | $421,164 | −$359,274 −46.0% down $359,274, 46.0% versus February 2018 | −12.5% down 12.5% |
| Detached condo | 6 | +3 +100.0% up 3, 100.0% versus February 2018 | $747,500 | −$550,133 −42.4% down $550,133, 42.4% versus February 2018 | +6.6% up 6.6% |
| Co-ownership apartment | 7 | +4 +133.3% up 4, 133.3% versus February 2018 | $404,429 | +$49,762 +14.0% up $49,762, 14.0% versus February 2018 | +1.3% up 1.3% |
Average price by home type
13 months to March 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '18 | 1005779 | 782831 | 690438 | 574404 | 551003 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +58.0% up 58.0%
- King +54.3% up 54.3%
- Brock +46.6% up 46.6%
- Toronto W09 +26.9% up 26.9%
- Toronto W07 +19.9% up 19.9%
Bottom 5
- Toronto C09 −32.2% down 32.2%
- Toronto E10 −17.0% down 17.0%
- Toronto C14 −14.5% down 14.5%
- Toronto C02 −14.3% down 14.3%
- Toronto E04 −12.7% down 12.7%
Sales, month-over-month
Top 5
- Scugog +262.5% up 262.5%
- King +125.0% up 125.0%
- Toronto E06 +114.3% up 114.3%
- Toronto E10 +90.9% up 90.9%
- Toronto W01 +81.1% up 81.1%
Bottom 5
- Toronto C04 −22.5% down 22.5%
- Toronto E08 −21.7% down 21.7%
- Toronto C09 −18.2% down 18.2%
- Toronto C06 −3.7% down 3.7%
- East Gwillimbury +6.7% up 6.7%
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
48.6%
prior month 49.2%
Months of inventory
2.2
All TRREB areas reads differently on the two balance measures — balanced conditions at 48.6% sales-to-new-listings, but a seller's market at 2.2 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
63.0%
prior month 59.5%
Months of inventory
1.5
City of Toronto (416) sits in a seller's market: 63.0% of new listings sold and 1.5 months of inventory on hand.
905 total
SNLR
42.5%
prior month 44.3%
Months of inventory
2.7
905 total reads differently on the two balance measures — balanced conditions at 42.5% sales-to-new-listings, but a seller's market at 2.7 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
$725,402
- Sales
- 671
- SNLR
- 74.8%
- MOI
- 1.0
Aggregated across 2 districts · View →
Midtown
$1,233,149
- Sales
- 264
- SNLR
- 60.8%
- MOI
- 1.8
Aggregated across 6 districts · View →
Scarborough
$615,448
- Sales
- 451
- SNLR
- 54.6%
- MOI
- 1.7
Aggregated across 8 districts · View →
York Region
$939,659
- Sales
- 1,066
- SNLR
- 31.3%
- MOI
- 4.3
Region total · View →
Durham Region
$598,412
- Sales
- 846
- SNLR
- 48.2%
- MOI
- 2.0
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.