Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$792,611
MoM −$14,144 −1.8% down $14,144, 1.8% versus July 2019 YoY +3.6% up 3.6% versus August 2018
Source: TRREB MarketWatch, August 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
August 2019
In August 2019 the average selling price across the Greater Toronto Area edged down 1.8% to $792,611 versus July 2019, and sales dropped 10.3% to 7,711, though a summer slowdown 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.
$699,888
MoM −$5,112 −0.7% down $5,112, 0.7% versus July 2019 YoY +6.1% up 6.1% versus August 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$802,400
MoM +$1,500 +0.2% up $1,500, 0.2% versus July 2019 YoY +4.9% up 4.9% versus August 2018
Sales — Firm transactions reported through the MLS® System during the month.
7,711
MoM −884 −10.3% down 884, 10.3% versus July 2019 YoY +12.8% up 12.8% versus August 2018
Dollar volume — Total value of all sales in the month.
$6.11B
MoM −$822,232,395 −11.9% down $822,232,395, 11.9% versus July 2019 YoY +16.8% up 16.8% versus August 2018
New listings — Properties newly listed during the month.
11,789
MoM −2,604 −18.1% down 2,604, 18.1% versus July 2019 YoY −3.1% down 3.1% versus August 2018
Active listings — Listings available at month end.
15,870
MoM −2,068 −11.5% down 2,068, 11.5% versus July 2019 YoY −11.2% down 11.2% versus August 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
25
MoM +2 days +8.7% up 2 days, 8.7% versus July 2019 YoY −7.4% down 7.4% versus August 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% down 1.0 pp, 1.0% versus July 2019 YoY no change no change versus August 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
65.4%
MoM +5.7 pp +9.5% up 5.7 pp, 9.5% versus July 2019 YoY +16.4% up 16.4% versus August 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.
2.1
MoM −0 −1.4% down 0, 1.4% versus July 2019 YoY −21.2% down 21.2% versus August 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 18.1% to 11,789 versus July 2019.
- Across all TRREB areas, active listings dropped 11.5% to 15,870 versus July 2019.
- Across all TRREB areas, sales dropped 10.3% to 7,711 versus July 2019.
- Across all TRREB areas, the average selling price edged down 1.8% to $792,611 versus July 2019.
- Across all TRREB areas, the average sale-to-list ratio edged down 1.0% to 98.0% versus July 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.7%
Q2 2019
Toronto employment growth
4%
July 2019
Toronto unemployment rate
5.7%
July 2019
Inflation (CPI, year-over-year)
2%
July 2019
Bank of Canada overnight rate
1.75%
August 2019
Prime rate
3.95%
August 2019
1-year mortgage rate
3.64%
August 2019
3-year mortgage rate
3.94%
August 2019
5-year mortgage rate
5.19%
August 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,618 | −323 −8.2% down 323, 8.2% versus July 2019 | $978,920 | −$16,123 −1.6% down $16,123, 1.6% versus July 2019 | +0.2% up 0.2% |
| Semi-detached | 642 | −217 −25.3% down 217, 25.3% versus July 2019 | $768,230 | −$18,744 −2.4% down $18,744, 2.4% versus July 2019 | +3.6% up 3.6% |
| Att/row/townhouse | 698 | −56 −7.4% down 56, 7.4% versus July 2019 | $691,768 | −$19,950 −2.8% down $19,950, 2.8% versus July 2019 | +2.4% up 2.4% |
| Condo townhouse | 594 | −67 −10.1% down 67, 10.1% versus July 2019 | $578,264 | −$23,277 −3.9% down $23,277, 3.9% versus July 2019 | +1.9% up 1.9% |
| Condo apartment | 2,067 | −210 −9.2% down 210, 9.2% versus July 2019 | $574,632 | −$9,387 −1.6% down $9,387, 1.6% versus July 2019 | +6.2% up 6.2% |
| Link | 70 | −11 −13.6% down 11, 13.6% versus July 2019 | $711,589 | −$27,340 −3.7% down $27,340, 3.7% versus July 2019 | +7.4% up 7.4% |
| Co-op apartment | 11 | +3 +37.5% up 3, 37.5% versus July 2019 | $599,718 | −$85,478 −12.5% down $85,478, 12.5% versus July 2019 | +144.6% up 144.6% |
| Detached condo | 9 | no change no change versus July 2019 | $627,889 | +$46,556 +8.0% up $46,556, 8.0% versus July 2019 | −32.5% down 32.5% |
| Co-ownership apartment | 2 | −3 −60.0% down 3, 60.0% versus July 2019 | $360,000 | −$29,400 −7.6% down $29,400, 7.6% versus July 2019 | +8.0% up 8.0% |
Average price by home type
13 months to August 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jun '19 | 1018987 | 830015 | 713540 | 608187 | 590274 |
| Jul '19 | 995043 | 786974 | 711718 | 601541 | 584019 |
| Aug '19 | 978920 | 768230 | 691768 | 578264 | 574632 |
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 +40.1% up 40.1%
- Toronto C12 +39.4% up 39.4%
- Toronto W07 +37.0% up 37.0%
- Toronto C06 +25.1% up 25.1%
- Uxbridge +20.3% up 20.3%
Bottom 5
- Toronto C09 −31.2% down 31.2%
- Scugog −19.6% down 19.6%
- Toronto E06 −18.2% down 18.2%
- Toronto C03 −16.4% down 16.4%
- Toronto W09 −11.4% down 11.4%
Sales, month-over-month
Top 5
- Uxbridge +32.0% up 32.0%
- King +30.0% up 30.0%
- Toronto W07 +25.0% up 25.0%
- Toronto C14 +20.8% up 20.8%
- Pickering +16.5% up 16.5%
Bottom 5
- Toronto C04 −58.7% down 58.7%
- Toronto E01 −48.5% down 48.5%
- Toronto W09 −44.9% down 44.9%
- Toronto E02 −44.3% down 44.3%
- Toronto C10 −40.6% down 40.6%
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
65.4%
prior month 59.7%
Months of inventory
2.1
All TRREB areas sits in a seller's market: 65.4% of new listings sold and 2.1 months of inventory on hand.
City of Toronto (416)
SNLR
68.5%
prior month 65.3%
Months of inventory
1.8
City of Toronto (416) sits in a seller's market: 68.5% of new listings sold and 1.8 months of inventory on hand.
905 total
SNLR
64.0%
prior month 57.0%
Months of inventory
2.2
905 total sits in a seller's market: 64.0% of new listings sold and 2.2 months of inventory on hand.
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
$758,399
- Sales
- 520
- SNLR
- 70.4%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,265,065
- Sales
- 190
- SNLR
- 59.7%
- MOI
- 2.5
Aggregated across 6 districts · View →
Scarborough
$641,753
- Sales
- 557
- SNLR
- 70.8%
- MOI
- 1.5
Aggregated across 8 districts · View →
York Region
$951,750
- Sales
- 1,319
- SNLR
- 56.3%
- MOI
- 3.1
Region total · View →
Durham Region
$614,362
- Sales
- 1,046
- SNLR
- 67.8%
- MOI
- 1.8
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.