Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$838,540
MoM +$18,392 +2.2% up $18,392, 2.2% versus April 2019 YoY +3.6% up 3.6% versus May 2018
Source: TRREB MarketWatch, May 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
May 2019
In May 2019 the average selling price across the Greater Toronto Area edged up 2.2% to $838,540 versus April 2019, and sales jumped 10.5% to 9,989.
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.
$725,000
MoM +$16,000 +2.3% up $16,000, 2.3% versus April 2019 YoY +5.8% up 5.8% versus May 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$794,800
MoM +$5,700 +0.7% up $5,700, 0.7% versus April 2019 YoY +3.1% up 3.1% versus May 2018
Sales — Firm transactions reported through the MLS® System during the month.
9,989
MoM +947 +10.5% up 947, 10.5% versus April 2019 YoY +18.9% up 18.9% versus May 2018
Dollar volume — Total value of all sales in the month.
$8.38B
MoM +$960,400,610 +13.0% up $960,400,610, 13.0% versus April 2019 YoY +23.2% up 23.2% versus May 2018
New listings — Properties newly listed during the month.
19,386
MoM +2,181 +12.7% up 2,181, 12.7% versus April 2019 YoY +0.8% up 0.8% versus May 2018
Active listings — Listings available at month end.
20,017
MoM +1,980 +11.0% up 1,980, 11.0% versus April 2019 YoY −4.3% down 4.3% versus May 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
19
MoM no change no change versus April 2019 YoY −5.0% down 5.0% versus May 2018
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 April 2019 YoY no change no change versus May 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
51.5%
MoM −1.0 pp −2.0% down 1.0 pp, 2.0% versus April 2019 YoY +18.0% up 18.0% versus May 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.
2.0
MoM +0 +0.5% up 0, 0.5% versus April 2019 YoY −19.5% down 19.5% versus May 2018
The month in 60 seconds
- Across all TRREB areas, new listings jumped 12.7% to 19,386 versus April 2019.
- Across all TRREB areas, active listings jumped 11.0% to 20,017 versus April 2019.
- Across all TRREB areas, sales jumped 10.5% to 9,989 versus April 2019.
- Across all TRREB areas, the median selling price edged up 2.3% to $725,000 versus April 2019.
- Across all TRREB areas, the average selling price edged up 2.2% to $838,540 versus April 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%
Q1 2019
Toronto employment growth
3.4%
April 2019
Toronto unemployment rate
6.6%
April 2019
Inflation (CPI, year-over-year)
2%
April 2019
Bank of Canada overnight rate
1.75%
May 2019
Prime rate
3.95%
May 2019
1-year mortgage rate
3.64%
May 2019
3-year mortgage rate
4.29%
May 2019
5-year mortgage rate
5.34%
May 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,649 | +476 +11.4% up 476, 11.4% versus April 2019 | $1,042,218 | +$24,071 +2.4% up $24,071, 2.4% versus April 2019 | +1.1% up 1.1% |
| Semi-detached | 1,019 | +163 +19.0% up 163, 19.0% versus April 2019 | $827,250 | +$18,454 +2.3% up $18,454, 2.3% versus April 2019 | +1.9% up 1.9% |
| Att/row/townhouse | 913 | +47 +5.4% up 47, 5.4% versus April 2019 | $718,321 | +$5,883 +0.8% up $5,883, 0.8% versus April 2019 | +1.8% up 1.8% |
| Condo townhouse | 743 | +72 +10.7% up 72, 10.7% versus April 2019 | $601,636 | +$18,488 +3.2% up $18,488, 3.2% versus April 2019 | +5.7% up 5.7% |
| Condo apartment | 2,542 | +185 +7.8% up 185, 7.8% versus April 2019 | $590,876 | +$2,708 +0.5% up $2,708, 0.5% versus April 2019 | +4.9% up 4.9% |
| Link | 92 | −9 −8.9% down 9, 8.9% versus April 2019 | $713,048 | +$26,613 +3.9% up $26,613, 3.9% versus April 2019 | +1.4% up 1.4% |
| Co-op apartment | 9 | +3 +50.0% up 3, 50.0% versus April 2019 | $404,189 | −$240,335 −37.3% down $240,335, 37.3% versus April 2019 | −34.5% down 34.5% |
| Detached condo | 15 | +9 +150.0% up 9, 150.0% versus April 2019 | $761,802 | −$3,115 −0.4% down $3,115, 0.4% versus April 2019 | −5.8% down 5.8% |
| Co-ownership apartment | 7 | +1 +16.7% up 1, 16.7% versus April 2019 | $346,286 | −$46,047 −11.7% down $46,047, 11.7% versus April 2019 | −22.4% down 22.4% |
Average price by home type
13 months to May 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '19 | 984782 | 789462 | 705938 | 571169 | 560020 |
| Apr '19 | 1018147 | 808796 | 712438 | 583148 | 588168 |
| May '19 | 1042218 | 827250 | 718321 | 601636 | 590876 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W09 +18.6% up 18.6%
- Toronto E06 +16.3% up 16.3%
- Toronto C06 +16.0% up 16.0%
- Toronto W07 +13.6% up 13.6%
- Whitchurch-Stouffville +13.5% up 13.5%
Bottom 5
- Toronto C12 −14.2% down 14.2%
- Brock −9.6% down 9.6%
- Toronto E01 −6.8% down 6.8%
- Toronto E05 −6.0% down 6.0%
- Toronto C07 −5.2% down 5.2%
Sales, month-over-month
Top 5
- Toronto W07 +95.2% up 95.2%
- Toronto C04 +68.1% up 68.1%
- Toronto C10 +58.0% up 58.0%
- Toronto W01 +48.4% up 48.4%
- Toronto E02 +44.8% up 44.8%
Bottom 5
- Toronto W09 −29.6% down 29.6%
- Uxbridge −20.8% down 20.8%
- Toronto C12 −20.6% down 20.6%
- King −17.2% down 17.2%
- Toronto C14 −10.3% down 10.3%
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
51.5%
prior month 52.5%
Months of inventory
2.0
All TRREB areas reads differently on the two balance measures — balanced conditions at 51.5% sales-to-new-listings, but a seller's market at 2.0 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
55.9%
prior month 56.4%
Months of inventory
1.6
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 55.9% sales-to-new-listings, but a seller's market at 1.6 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
49.3%
prior month 50.6%
Months of inventory
2.2
905 total reads differently on the two balance measures — balanced conditions at 49.3% 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.
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
$806,810
- Sales
- 730
- SNLR
- 58.8%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,597,005
- Sales
- 467
- SNLR
- 55.3%
- MOI
- 1.5
Aggregated across 6 districts · View →
Scarborough
$679,305
- Sales
- 654
- SNLR
- 58.5%
- MOI
- 1.5
Aggregated across 8 districts · View →
York Region
$929,684
- Sales
- 1,531
- SNLR
- 39.6%
- MOI
- 3.3
Region total · View →
Durham Region
$622,292
- Sales
- 1,176
- SNLR
- 49.2%
- 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.