Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$852,142
MoM +$9,027 +1.1% up $9,027, 1.1% versus September 2019 YoY +5.5% up 5.5% versus October 2018
Source: TRREB MarketWatch, October 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2019
In October 2019 the average selling price across the Greater Toronto Area edged up 1.1% to $852,142 versus September 2019, and sales jumped 8.5% to 8,491.
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.
$730,000
MoM +$10,000 +1.4% up $10,000, 1.4% versus September 2019 YoY +6.9% up 6.9% versus October 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$810,900
MoM +$5,400 +0.7% up $5,400, 0.7% versus September 2019 YoY +5.8% up 5.8% versus October 2018
Sales — Firm transactions reported through the MLS® System during the month.
8,491
MoM +666 +8.5% up 666, 8.5% versus September 2019 YoY +13.3% up 13.3% versus October 2018
Dollar volume — Total value of all sales in the month.
$7.24B
MoM +$638,161,763 +9.7% up $638,161,763, 9.7% versus September 2019 YoY +19.6% up 19.6% versus October 2018
New listings — Properties newly listed during the month.
13,050
MoM −2,561 −16.4% down 2,561, 16.4% versus September 2019 YoY −9.6% down 9.6% versus October 2018
Active listings — Listings available at month end.
15,375
MoM −1,879 −10.9% down 1,879, 10.9% versus September 2019 YoY −18.8% down 18.8% versus October 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
23
MoM no change no change versus September 2019 YoY −4.2% down 4.2% versus October 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 September 2019 YoY no change no change versus October 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
65.1%
MoM +14.9 pp +29.8% up 14.9 pp, 29.8% versus September 2019 YoY +25.3% up 25.3% versus October 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.
1.8
MoM −0 −17.9% down 0, 17.9% versus September 2019 YoY −28.3% down 28.3% versus October 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 16.4% to 13,050 versus September 2019.
- Across all TRREB areas, active listings dropped 10.9% to 15,375 versus September 2019.
- Across all TRREB areas, sales jumped 8.5% to 8,491 versus September 2019.
- Across all TRREB areas, the median selling price edged up 1.4% to $730,000 versus September 2019.
- Across all TRREB areas, the average selling price edged up 1.1% to $852,142 versus September 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
5%
September 2019
Toronto unemployment rate
5.8%
September 2019
Inflation (CPI, year-over-year)
1.9%
September 2019
Bank of Canada overnight rate
1.75%
October 2019
Prime rate
3.95%
October 2019
1-year mortgage rate
3.64%
October 2019
3-year mortgage rate
3.94%
October 2019
5-year mortgage rate
5.19%
October 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,960 | +344 +9.5% up 344, 9.5% versus September 2019 | $1,049,300 | −$1,121 −0.1% down $1,121, 0.1% versus September 2019 | +2.9% up 2.9% |
| Semi-detached | 813 | +67 +9.0% up 67, 9.0% versus September 2019 | $852,669 | +$18,879 +2.3% up $18,879, 2.3% versus September 2019 | +4.4% up 4.4% |
| Att/row/townhouse | 747 | +39 +5.5% up 39, 5.5% versus September 2019 | $727,074 | +$398 +0.1% up $398, 0.1% versus September 2019 | +1.1% up 1.1% |
| Condo townhouse | 648 | +58 +9.8% up 58, 9.8% versus September 2019 | $618,849 | +$608 +0.1% up $608, 0.1% versus September 2019 | +7.7% up 7.7% |
| Condo apartment | 2,219 | +148 +7.1% up 148, 7.1% versus September 2019 | $617,419 | +$22,406 +3.8% up $22,406, 3.8% versus September 2019 | +9.8% up 9.8% |
| Link | 75 | +1 +1.4% up 1, 1.4% versus September 2019 | $738,348 | −$11,937 −1.6% down $11,937, 1.6% versus September 2019 | +8.1% up 8.1% |
| Co-op apartment | 13 | +7 +116.7% up 7, 116.7% versus September 2019 | $477,815 | +$92,848 +24.1% up $92,848, 24.1% versus September 2019 | −8.3% down 8.3% |
| Detached condo | 7 | −1 −12.5% down 1, 12.5% versus September 2019 | $1,008,571 | +$269,258 +36.4% up $269,258, 36.4% versus September 2019 | +53.7% up 53.7% |
| Co-ownership apartment | 9 | +3 +50.0% up 3, 50.0% versus September 2019 | $472,022 | +$175,272 +59.1% up $175,272, 59.1% versus September 2019 | +14.0% up 14.0% |
Average price by home type
13 months to October 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Sep '19 | 1050421 | 833790 | 726676 | 618241 | 595013 |
| Oct '19 | 1049300 | 852669 | 727074 | 618849 | 617419 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +22.6% up 22.6%
- Brock +19.6% up 19.6%
- Toronto W03 +13.4% up 13.4%
- Toronto E03 +10.6% up 10.6%
- Toronto W07 +10.5% up 10.5%
Bottom 5
- Toronto C04 −9.6% down 9.6%
- Newmarket −7.3% down 7.3%
- Toronto W09 −7.0% down 7.0%
- Toronto C14 −6.9% down 6.9%
- Toronto C11 −6.7% down 6.7%
Sales, month-over-month
Top 5
- Toronto E06 +90.0% up 90.0%
- Toronto W03 +68.8% up 68.8%
- Toronto C12 +52.4% up 52.4%
- Toronto W09 +48.6% up 48.6%
- Toronto W04 +43.1% up 43.1%
Bottom 5
- King −51.3% down 51.3%
- Toronto C04 −24.1% down 24.1%
- Clarington −16.7% down 16.7%
- Toronto W02 −12.6% down 12.6%
- Toronto W07 −12.5% down 12.5%
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
65.1%
prior month 50.1%
Months of inventory
1.8
All TRREB areas sits in a seller's market: 65.1% of new listings sold and 1.8 months of inventory on hand.
City of Toronto (416)
SNLR
66.2%
prior month 51.5%
Months of inventory
1.5
City of Toronto (416) sits in a seller's market: 66.2% of new listings sold and 1.5 months of inventory on hand.
905 total
SNLR
64.4%
prior month 49.3%
Months of inventory
2.0
905 total sits in a seller's market: 64.4% of new listings sold and 2.0 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
$828,801
- Sales
- 659
- SNLR
- 67.0%
- MOI
- 1.3
Aggregated across 2 districts · View →
Midtown
$1,495,426
- Sales
- 337
- SNLR
- 57.4%
- MOI
- 1.9
Aggregated across 6 districts · View →
Scarborough
$702,017
- Sales
- 643
- SNLR
- 75.4%
- MOI
- 1.2
Aggregated across 8 districts · View →
York Region
$957,097
- Sales
- 1,409
- SNLR
- 58.9%
- MOI
- 2.7
Region total · View →
Durham Region
$613,606
- Sales
- 968
- SNLR
- 59.6%
- MOI
- 1.9
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.