Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$807,340
MoM +$10,554 +1.3% up $10,554, 1.3% versus September 2018 YoY +3.5% up 3.5% versus October 2017
Source: TRREB MarketWatch, October 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2018
In October 2018 the average selling price across the Greater Toronto Area edged up 1.3% to $807,340 versus September 2018, and sales jumped 16.1% to 7,492.
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.
$683,000
MoM +$3,000 +0.4% up $3,000, 0.4% versus September 2018 YoY +4.3% up 4.3% versus October 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$766,300
MoM +$900 +0.1% up $900, 0.1% versus September 2018 YoY +2.6% up 2.6% versus October 2017
Sales — Firm transactions reported through the MLS® System during the month.
7,492
MoM +1,037 +16.1% up 1,037, 16.1% versus September 2018 YoY +5.3% up 5.3% versus October 2017
Dollar volume — Total value of all sales in the month.
$6.05B
MoM +$905,341,008 +17.6% up $905,341,008, 17.6% versus September 2018 YoY +8.9% up 8.9% versus October 2017
New listings — Properties newly listed during the month.
14,431
MoM −1,489 −9.4% down 1,489, 9.4% versus September 2018 YoY −3.2% down 3.2% versus October 2017
Active listings — Listings available at month end.
18,926
MoM −1,163 −5.8% down 1,163, 5.8% versus September 2018 YoY +0.4% up 0.4% versus October 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
24
MoM −2 days −7.7% down 2 days, 7.7% versus September 2018 YoY +4.3% up 4.3% versus October 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 September 2018 YoY +1.0% up 1.0% versus October 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
51.9%
MoM +11.4 pp +28.0% up 11.4 pp, 28.0% versus September 2018 YoY +8.7% up 8.7% versus October 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.
2.5
MoM −1 −18.8% down 1, 18.8% versus September 2018 YoY −4.7% down 4.7% versus October 2017
The month in 60 seconds
- Across all TRREB areas, sales jumped 16.1% to 7,492 versus September 2018.
- Across all TRREB areas, new listings dropped 9.4% to 14,431 versus September 2018.
- Across all TRREB areas, active listings fell 5.8% to 18,926 versus September 2018.
- Across all TRREB areas, the average selling price edged up 1.3% to $807,340 versus September 2018.
- Across all TRREB areas, the median selling price held steady at $683,000 versus September 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
0.6%
October 2018
Toronto unemployment rate
6.1%
October 2018
Inflation (CPI, year-over-year)
2.8%
September 2018
Bank of Canada overnight rate
1.75%
October 2018
Prime rate
3.95%
October 2018
1-year mortgage rate
3.64%
October 2018
3-year mortgage rate
4.29%
October 2018
5-year mortgage rate
5.34%
October 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,328 | +499 +17.6% up 499, 17.6% versus September 2018 | $1,019,416 | +$11,055 +1.1% up $11,055, 1.1% versus September 2018 | +1.1% up 1.1% |
| Semi-detached | 774 | +121 +18.5% up 121, 18.5% versus September 2018 | $816,657 | +$24,304 +3.1% up $24,304, 3.1% versus September 2018 | +6.9% up 6.9% |
| Att/row/townhouse | 648 | +69 +11.9% up 69, 11.9% versus September 2018 | $719,002 | +$35,672 +5.2% up $35,672, 5.2% versus September 2018 | +3.9% up 3.9% |
| Condo townhouse | 506 | +11 +2.2% up 11, 2.2% versus September 2018 | $574,808 | −$2,172 −0.4% down $2,172, 0.4% versus September 2018 | +3.5% up 3.5% |
| Condo apartment | 2,127 | +336 +18.8% up 336, 18.8% versus September 2018 | $562,523 | −$7,617 −1.3% down $7,617, 1.3% versus September 2018 | +7.5% up 7.5% |
| Link | 86 | −12 −12.2% down 12, 12.2% versus September 2018 | $683,116 | +$31,221 +4.8% up $31,221, 4.8% versus September 2018 | −6.8% down 6.8% |
| Co-op apartment | 13 | +8 +160.0% up 8, 160.0% versus September 2018 | $521,173 | −$233,427 −30.9% down $233,427, 30.9% versus September 2018 | +7.1% up 7.1% |
| Detached condo | 4 | no change no change versus September 2018 | $656,250 | −$58,750 −8.2% down $58,750, 8.2% versus September 2018 | −5.3% down 5.3% |
| Co-ownership apartment | 6 | +5 +500.0% up 5, 500.0% versus September 2018 | $414,067 | +$113,567 +37.8% up $113,567, 37.8% versus September 2018 | +26.8% up 26.8% |
Average price by home type
13 months to October 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Sep '18 | 1008361 | 792353 | 683330 | 576980 | 570140 |
| Oct '18 | 1019416 | 816657 | 719002 | 574808 | 562523 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C11 +26.8% up 26.8%
- Uxbridge +25.9% up 25.9%
- Toronto C02 +14.1% up 14.1%
- Aurora +12.9% up 12.9%
- Toronto E02 +12.1% up 12.1%
Bottom 5
- King −16.4% down 16.4%
- Toronto W07 −15.7% down 15.7%
- Toronto C04 −15.4% down 15.4%
- Toronto C09 −14.2% down 14.2%
- Toronto E11 −12.7% down 12.7%
Sales, month-over-month
Top 5
- Toronto C03 +106.7% up 106.7%
- Toronto W07 +63.6% up 63.6%
- Toronto E10 +63.4% up 63.4%
- Toronto C02 +53.3% up 53.3%
- Toronto W03 +50.0% up 50.0%
Bottom 5
- Toronto E08 −12.2% down 12.2%
- Ajax −7.5% down 7.5%
- Caledon −1.2% down 1.2%
- Toronto W01 no change no change
- Brock 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
51.9%
prior month 40.5%
Months of inventory
2.5
All TRREB areas reads differently on the two balance measures — balanced conditions at 51.9% sales-to-new-listings, but a seller's market at 2.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
57.3%
prior month 45.2%
Months of inventory
1.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 57.3% 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
48.8%
prior month 38.1%
Months of inventory
3.0
905 total reads differently on the two balance measures — balanced conditions at 48.8% 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
$780,485
- Sales
- 614
- SNLR
- 59.6%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,461,960
- Sales
- 360
- SNLR
- 57.2%
- MOI
- 1.7
Aggregated across 6 districts · View →
Scarborough
$629,957
- Sales
- 494
- SNLR
- 53.3%
- MOI
- 2.2
Aggregated across 8 districts · View →
York Region
$917,007
- Sales
- 1,164
- SNLR
- 39.3%
- MOI
- 4.3
Region total · View →
Durham Region
$588,968
- Sales
- 798
- SNLR
- 48.5%
- MOI
- 2.6
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.