Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$748,328
MoM −$1,852 −0.2% down $1,852, 0.2% versus December 2018 YoY +1.6% up 1.6% versus January 2018
Source: TRREB MarketWatch, January 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
January 2019
In January 2019 the average selling price across the Greater Toronto Area held steady at $748,328 versus December 2018, and sales rose 6.0% to 4,009, though a quieter January after the December holidays is the seasonal norm.
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.
$650,000
MoM −$3,000 −0.5% down $3,000, 0.5% versus December 2018 YoY +4.0% up 4.0% versus January 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$761,800
MoM −$2,400 −0.3% down $2,400, 0.3% versus December 2018 YoY +2.7% up 2.7% versus January 2018
Sales — Firm transactions reported through the MLS® System during the month.
4,009
MoM +228 +6.0% up 228, 6.0% versus December 2018 YoY −0.2% down 0.2% versus January 2018
Dollar volume — Total value of all sales in the month.
$3.00B
MoM +$163,613,255 +5.8% up $163,613,255, 5.8% versus December 2018 YoY +1.3% up 1.3% versus January 2018
New listings — Properties newly listed during the month.
9,456
MoM +5,148 +119.5% up 5,148, 119.5% versus December 2018 YoY +10.1% up 10.1% versus January 2018
Active listings — Listings available at month end.
11,962
MoM +531 +4.6% up 531, 4.6% versus December 2018 YoY +0.6% up 0.6% versus January 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
33
MoM +2 days +6.5% up 2 days, 6.5% versus December 2018 YoY +3.1% up 3.1% versus January 2018
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus December 2018 YoY no change no change versus January 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
42.4%
MoM −45.4 pp −51.7% down 45.4 pp, 51.7% versus December 2018 YoY −9.4% down 9.4% versus January 2018
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.
3.0
MoM −0 −1.3% down 0, 1.3% versus December 2018 YoY +0.8% up 0.8% versus January 2018
The month in 60 seconds
- Across all TRREB areas, new listings jumped 119.5% to 9,456 versus December 2018.
- Across all TRREB areas, sales rose 6.0% to 4,009 versus December 2018.
- Across all TRREB areas, active listings rose 4.6% to 11,962 versus December 2018.
- Across all TRREB areas, the average sale-to-list ratio edged up 1.0% to 98.0% versus December 2018.
- Across all TRREB areas, the median selling price held steady at $650,000 versus December 2018.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2%
Q3 2018
Toronto employment growth
0.9%
December 2018
Toronto unemployment rate
6%
December 2018
Inflation (CPI, year-over-year)
2%
December 2018
Bank of Canada overnight rate
1.75%
January 2019
Prime rate
3.95%
January 2019
1-year mortgage rate
3.64%
January 2019
3-year mortgage rate
4.29%
January 2019
5-year mortgage rate
5.34%
January 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,703 | +113 +7.1% up 113, 7.1% versus December 2018 | $941,488 | −$4,092 −0.4% down $4,092, 0.4% versus December 2018 | −3.0% down 3.0% |
| Semi-detached | 339 | −3 −0.9% down 3, 0.9% versus December 2018 | $742,738 | −$12,969 −1.7% down $12,969, 1.7% versus December 2018 | +3.8% up 3.8% |
| Att/row/townhouse | 382 | +69 +22.0% up 69, 22.0% versus December 2018 | $699,154 | +$19,990 +2.9% up $19,990, 2.9% versus December 2018 | +0.2% up 0.2% |
| Condo townhouse | 303 | −1 −0.3% down 1, 0.3% versus December 2018 | $567,748 | +$458 +0.1% up $458, 0.1% versus December 2018 | +9.2% up 9.2% |
| Condo apartment | 1,238 | +53 +4.5% up 53, 4.5% versus December 2018 | $548,176 | −$6,321 −1.1% down $6,321, 1.1% versus December 2018 | +8.0% up 8.0% |
| Link | 37 | −2 −5.1% down 2, 5.1% versus December 2018 | $658,284 | −$36,144 −5.2% down $36,144, 5.2% versus December 2018 | −3.5% down 3.5% |
| Co-op apartment | 3 | −1 −25.0% down 1, 25.0% versus December 2018 | $331,967 | −$404,908 −54.9% down $404,908, 54.9% versus December 2018 | +6.5% up 6.5% |
| Detached condo | 2 | +1 +100.0% up 1, 100.0% versus December 2018 | $433,450 | −$516,550 −54.4% down $516,550, 54.4% versus December 2018 | −15.0% down 15.0% |
| Co-ownership apartment | 2 | −1 −33.3% down 1, 33.3% versus December 2018 | $469,000 | −$2,667 −0.6% down $2,667, 0.6% versus December 2018 | +28.7% up 28.7% |
Average price by home type
13 months to January 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '18 | 1008768 | 791760 | 711851 | 577683 | 556723 |
| Dec '18 | 945580 | 755707 | 679164 | 567290 | 554497 |
| Jan '19 | 941488 | 742738 | 699154 | 567748 | 548176 |
Movers this month
Ranked across 53 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Scugog +35.4% up 35.4%
- Toronto E10 +26.0% up 26.0%
- Toronto E11 +25.7% up 25.7%
- Toronto C04 +23.0% up 23.0%
- Brock +20.5% up 20.5%
Bottom 5
- King −27.7% down 27.7%
- Toronto W01 −27.1% down 27.1%
- Toronto C11 −24.4% down 24.4%
- Toronto W09 −19.9% down 19.9%
- Caledon −16.7% down 16.7%
Sales, month-over-month
Top 5
- King +157.1% up 157.1%
- Toronto C13 +92.9% up 92.9%
- Toronto C10 +47.8% up 47.8%
- Clarington +46.4% up 46.4%
- Scugog +41.7% up 41.7%
Bottom 5
- Toronto W01 −44.0% down 44.0%
- Toronto E06 −42.3% down 42.3%
- Toronto E03 −39.1% down 39.1%
- Toronto E01 −35.5% down 35.5%
- Toronto C06 −35.0% down 35.0%
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
42.4%
prior month 87.8%
Months of inventory
3.0
All TRREB areas reads differently on the two balance measures — balanced conditions at 42.4% 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.
City of Toronto (416)
SNLR
45.2%
prior month 103.3%
Months of inventory
2.5
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 45.2% 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.
905 total
SNLR
41.0%
prior month 80.1%
Months of inventory
3.2
905 total reads differently on the two balance measures — balanced conditions at 41.0% sales-to-new-listings, but a seller's market at 3.2 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
$713,876
- Sales
- 287
- SNLR
- 43.2%
- MOI
- 2.2
Aggregated across 2 districts · View →
Midtown
$1,241,094
- Sales
- 146
- SNLR
- 38.4%
- MOI
- 2.7
Aggregated across 6 districts · View →
Scarborough
$629,218
- Sales
- 287
- SNLR
- 55.1%
- MOI
- 2.0
Aggregated across 8 districts · View →
York Region
$871,341
- Sales
- 589
- SNLR
- 29.5%
- MOI
- 5.3
Region total · View →
Durham Region
$577,935
- Sales
- 508
- SNLR
- 43.0%
- MOI
- 2.7
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.