Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$780,397
MoM +$32,069 +4.3% up $32,069, 4.3% versus January 2019 YoY +1.6% up 1.6% versus February 2018
Source: TRREB MarketWatch, February 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2019
In February 2019 the average selling price across the Greater Toronto Area rose 4.3% to $780,397 versus January 2019, and sales jumped 25.3% to 5,025.
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.
$674,900
MoM +$24,900 +3.8% up $24,900, 3.8% versus January 2019 YoY +2.9% up 2.9% versus February 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$767,800
MoM +$6,000 +0.8% up $6,000, 0.8% versus January 2019 YoY +2.4% up 2.4% versus February 2018
Sales — Firm transactions reported through the MLS® System during the month.
5,025
MoM +1,016 +25.3% up 1,016, 25.3% versus January 2019 YoY −2.9% down 2.9% versus February 2018
Dollar volume — Total value of all sales in the month.
$3.92B
MoM +$921,449,564 +30.7% up $921,449,564, 30.7% versus January 2019 YoY −1.3% down 1.3% versus February 2018
New listings — Properties newly listed during the month.
9,828
MoM +372 +3.9% up 372, 3.9% versus January 2019 YoY −6.6% down 6.6% versus February 2018
Active listings — Listings available at month end.
13,284
MoM +1,322 +11.1% up 1,322, 11.1% versus January 2019 YoY −0.6% down 0.6% versus February 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
25
MoM −8 days −24.2% down 8 days, 24.2% versus January 2019 YoY no change no change versus February 2018
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 2019 YoY no change no change versus February 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
51.1%
MoM +8.7 pp +20.6% up 8.7 pp, 20.6% versus January 2019 YoY +3.9% up 3.9% versus February 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.
2.6
MoM −0 −11.4% down 0, 11.4% versus January 2019 YoY +2.4% up 2.4% versus February 2018
The month in 60 seconds
- Across all TRREB areas, sales jumped 25.3% to 5,025 versus January 2019.
- Across all TRREB areas, active listings jumped 11.1% to 13,284 versus January 2019.
- Across all TRREB areas, the average selling price rose 4.3% to $780,397 versus January 2019.
- Across all TRREB areas, new listings rose 3.9% to 9,828 versus January 2019.
- Across all TRREB areas, the median selling price rose 3.8% to $674,900 versus January 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
0.4%
Q4 2018
Toronto employment growth
1.2%
January 2019
Toronto unemployment rate
6.1%
January 2019
Inflation (CPI, year-over-year)
1.4%
January 2019
Bank of Canada overnight rate
1.75%
February 2019
Prime rate
3.95%
February 2019
1-year mortgage rate
3.64%
February 2019
3-year mortgage rate
4.29%
February 2019
5-year mortgage rate
5.34%
February 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,171 | +468 +27.5% up 468, 27.5% versus January 2019 | $980,914 | +$39,426 +4.2% up $39,426, 4.2% versus January 2019 | −2.0% down 2.0% |
| Semi-detached | 456 | +117 +34.5% up 117, 34.5% versus January 2019 | $832,569 | +$89,831 +12.1% up $89,831, 12.1% versus January 2019 | +10.0% up 10.0% |
| Att/row/townhouse | 453 | +71 +18.6% up 71, 18.6% versus January 2019 | $684,043 | −$15,111 −2.2% down $15,111, 2.2% versus January 2019 | −0.1% down 0.1% |
| Condo townhouse | 340 | +37 +12.2% up 37, 12.2% versus January 2019 | $571,273 | +$3,525 +0.6% up $3,525, 0.6% versus January 2019 | −1.2% down 1.2% |
| Condo apartment | 1,536 | +298 +24.1% up 298, 24.1% versus January 2019 | $562,161 | +$13,985 +2.6% up $13,985, 2.6% versus January 2019 | +6.1% up 6.1% |
| Link | 55 | +18 +48.6% up 18, 48.6% versus January 2019 | $659,024 | +$740 +0.1% up $740, 0.1% versus January 2019 | −8.5% down 8.5% |
| Co-op apartment | 4 | +1 +33.3% up 1, 33.3% versus January 2019 | $715,000 | +$383,033 +115.4% up $383,033, 115.4% versus January 2019 | −8.4% down 8.4% |
| Detached condo | 4 | +2 +100.0% up 2, 100.0% versus January 2019 | $720,000 | +$286,550 +66.1% up $286,550, 66.1% versus January 2019 | −44.5% down 44.5% |
| Co-ownership apartment | 6 | +4 +200.0% up 4, 200.0% versus January 2019 | $451,667 | −$17,333 −3.7% down $17,333, 3.7% versus January 2019 | +27.3% up 27.3% |
Average price by home type
13 months to February 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Feb '19 | 980914 | 832569 | 684043 | 571273 | 562161 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W01 +70.7% up 70.7%
- Toronto C11 +65.3% up 65.3%
- Toronto C03 +31.0% up 31.0%
- Toronto E06 +29.3% up 29.3%
- Toronto W08 +19.6% up 19.6%
Bottom 5
- Toronto C09 −41.7% down 41.7%
- Toronto C13 −29.2% down 29.2%
- Scugog −16.8% down 16.8%
- Toronto E10 −15.9% down 15.9%
- Toronto E11 −15.7% down 15.7%
Sales, month-over-month
Top 5
- Toronto C03 +105.3% up 105.3%
- Toronto E01 +95.0% up 95.0%
- Toronto C06 +92.3% up 92.3%
- Toronto E11 +81.5% up 81.5%
- Whitchurch-Stouffville +75.0% up 75.0%
Bottom 5
- King −11.1% down 11.1%
- Brock −7.7% down 7.7%
- Toronto E07 −6.7% down 6.7%
- Toronto W10 −5.7% down 5.7%
- Aurora −2.0% down 2.0%
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
51.1%
prior month 42.4%
Months of inventory
2.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 51.1% 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
56.9%
prior month 45.2%
Months of inventory
2.1
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 56.9% sales-to-new-listings, but a seller's market at 2.1 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
48.2%
prior month 41.0%
Months of inventory
3.0
905 total reads differently on the two balance measures — balanced conditions at 48.2% 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
$759,930
- Sales
- 416
- SNLR
- 59.8%
- MOI
- 1.7
Aggregated across 2 districts · View →
Midtown
$1,376,224
- Sales
- 217
- SNLR
- 59.9%
- MOI
- 2.0
Aggregated across 6 districts · View →
Scarborough
$622,155
- Sales
- 335
- SNLR
- 65.2%
- MOI
- 1.8
Aggregated across 8 districts · View →
York Region
$915,737
- Sales
- 795
- SNLR
- 38.6%
- MOI
- 4.4
Region total · View →
Durham Region
$580,743
- Sales
- 585
- SNLR
- 51.3%
- 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.