Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$765,270
MoM −$16,859 −2.2% down $16,859, 2.2% versus July 2018 YoY +4.5% up 4.5% versus August 2017
Source: TRREB MarketWatch, August 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
August 2018
In August 2018 the average selling price across the Greater Toronto Area edged down 2.2% to $765,270 versus July 2018, and sales edged down 1.8% to 6,839.
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.
$659,900
MoM −$10,100 −1.5% down $10,100, 1.5% versus July 2018 YoY +4.8% up 4.8% versus August 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$764,800
MoM −$3,600 −0.5% down $3,600, 0.5% versus July 2018 YoY +1.4% up 1.4% versus August 2017
Sales — Firm transactions reported through the MLS® System during the month.
6,839
MoM −122 −1.8% down 122, 1.8% versus July 2018 YoY +7.6% up 7.6% versus August 2017
Dollar volume — Total value of all sales in the month.
$5.23B
MoM −$210,719,028 −3.9% down $210,719,028, 3.9% versus July 2018 YoY +12.4% up 12.4% versus August 2017
New listings — Properties newly listed during the month.
12,166
MoM −1,702 −12.3% down 1,702, 12.3% versus July 2018 YoY +5.6% up 5.6% versus August 2017
Active listings — Listings available at month end.
17,864
MoM −1,861 −9.4% down 1,861, 9.4% versus July 2018 YoY +8.8% up 8.8% versus August 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
27
MoM +2 days +8.0% up 2 days, 8.0% versus July 2018 YoY +8.0% up 8.0% versus August 2017
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM no change no change versus July 2018 YoY no change no change versus August 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
56.2%
MoM +6.0 pp +12.0% up 6.0 pp, 12.0% versus July 2018 YoY +1.9% up 1.9% versus August 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 −7.8% down 0, 7.8% versus July 2018 YoY +1.1% up 1.1% versus August 2017
The month in 60 seconds
- Across all TRREB areas, new listings dropped 12.3% to 12,166 versus July 2018.
- Across all TRREB areas, active listings dropped 9.4% to 17,864 versus July 2018.
- Across all TRREB areas, the average selling price edged down 2.2% to $765,270 versus July 2018.
- Across all TRREB areas, sales edged down 1.8% to 6,839 versus July 2018.
- Across all TRREB areas, the median selling price edged down 1.5% to $659,900 versus July 2018.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.9%
Q2 2018
Toronto employment growth
2.7%
July 2018
Toronto unemployment rate
6.1%
July 2018
Inflation (CPI, year-over-year)
3%
July 2018
Bank of Canada overnight rate
1.5%
August 2018
Prime rate
3.7%
August 2018
1-year mortgage rate
3.49%
August 2018
3-year mortgage rate
4.3%
August 2018
5-year mortgage rate
5.34%
August 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,001 | −61 −2.0% down 61, 2.0% versus July 2018 | $977,187 | −$27,460 −2.7% down $27,460, 2.7% versus July 2018 | +0.9% up 0.9% |
| Semi-detached | 577 | −31 −5.1% down 31, 5.1% versus July 2018 | $741,873 | −$4,970 −0.7% down $4,970, 0.7% versus July 2018 | +3.7% up 3.7% |
| Att/row/townhouse | 603 | −45 −6.9% down 45, 6.9% versus July 2018 | $675,345 | −$4,964 −0.7% down $4,964, 0.7% versus July 2018 | +1.5% up 1.5% |
| Condo townhouse | 540 | +15 +2.9% up 15, 2.9% versus July 2018 | $567,665 | −$9,161 −1.6% down $9,161, 1.6% versus July 2018 | +6.1% up 6.1% |
| Condo apartment | 2,000 | −2 −0.1% down 2, 0.1% versus July 2018 | $541,106 | −$5,878 −1.1% down $5,878, 1.1% versus July 2018 | +6.6% up 6.6% |
| Link | 103 | +7 +7.3% up 7, 7.3% versus July 2018 | $662,847 | −$2,904 −0.4% down $2,904, 0.4% versus July 2018 | −0.9% down 0.9% |
| Co-op apartment | 4 | −6 −60.0% down 6, 60.0% versus July 2018 | $245,225 | −$359,785 −59.5% down $359,785, 59.5% versus July 2018 | −40.3% down 40.3% |
| Detached condo | 7 | −1 −12.5% down 1, 12.5% versus July 2018 | $930,000 | +$333,750 +56.0% up $333,750, 56.0% versus July 2018 | +57.6% up 57.6% |
| Co-ownership apartment | 4 | +2 +100.0% up 2, 100.0% versus July 2018 | $333,250 | +$22,750 +7.3% up $22,750, 7.3% versus July 2018 | +4.2% up 4.2% |
Average price by home type
13 months to August 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Apr '18 | 1030103 | 792385 | 698510 | 571856 | 559343 |
| May '18 | 1030832 | 812163 | 705631 | 569324 | 563237 |
| Jun '18 | 1033574 | 787227 | 692112 | 578900 | 561097 |
| Jul '18 | 1004647 | 746843 | 680309 | 576826 | 546984 |
| Aug '18 | 977187 | 741873 | 675345 | 567665 | 541106 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- King +38.4% up 38.4%
- Uxbridge +24.5% up 24.5%
- Toronto C02 +19.6% up 19.6%
- Toronto W06 +18.0% up 18.0%
- Toronto C06 +17.1% up 17.1%
Bottom 5
- Toronto C11 −26.3% down 26.3%
- Toronto C03 −23.5% down 23.5%
- Toronto C07 −17.4% down 17.4%
- Toronto W07 −15.6% down 15.6%
- Toronto W08 −15.1% down 15.1%
Sales, month-over-month
Top 5
- Uxbridge +100.0% up 100.0%
- Whitchurch-Stouffville +34.8% up 34.8%
- Toronto E05 +31.0% up 31.0%
- Whitby +28.2% up 28.2%
- Richmond Hill +23.3% up 23.3%
Bottom 5
- Toronto W02 −34.4% down 34.4%
- Pickering −33.3% down 33.3%
- Toronto E02 −30.9% down 30.9%
- Toronto C13 −28.3% down 28.3%
- Toronto E01 −26.9% down 26.9%
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
56.2%
prior month 50.2%
Months of inventory
2.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 56.2% 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
65.1%
prior month 57.1%
Months of inventory
2.0
City of Toronto (416) sits in a seller's market: 65.1% of new listings sold and 2.0 months of inventory on hand.
905 total
SNLR
52.3%
prior month 46.9%
Months of inventory
3.0
905 total reads differently on the two balance measures — balanced conditions at 52.3% 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
$708,581
- Sales
- 545
- SNLR
- 72.2%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,315,032
- Sales
- 215
- SNLR
- 69.1%
- MOI
- 2.1
Aggregated across 6 districts · View →
Scarborough
$623,464
- Sales
- 512
- SNLR
- 61.2%
- MOI
- 2.0
Aggregated across 8 districts · View →
York Region
$923,152
- Sales
- 1,111
- SNLR
- 42.9%
- MOI
- 4.3
Region total · View →
Durham Region
$590,706
- Sales
- 843
- SNLR
- 57.5%
- MOI
- 2.4
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.