Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$837,788
MoM −$5,849 −0.7% down $5,849, 0.7% versus November 2019 YoY +11.7% up 11.7% versus December 2018
Source: TRREB MarketWatch, December 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
December 2019
In December 2019 the average selling price across the Greater Toronto Area held steady at $837,788 versus November 2019, and sales dropped 38.0% to 4,399, though a December 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.
$721,000
MoM −$8,000 −1.1% down $8,000, 1.1% versus November 2019 YoY +10.4% up 10.4% versus December 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$819,700
MoM +$3,900 +0.5% up $3,900, 0.5% versus November 2019 YoY +7.3% up 7.3% versus December 2018
Sales — Firm transactions reported through the MLS® System during the month.
4,399
MoM −2,691 −38.0% down 2,691, 38.0% versus November 2019 YoY +16.3% up 16.3% versus December 2018
Dollar volume — Total value of all sales in the month.
$3.69B
MoM −$2,295,959,068 −38.4% down $2,295,959,068, 38.4% versus November 2019 YoY +29.9% up 29.9% versus December 2018
New listings — Properties newly listed during the month.
3,531
MoM −5,119 −59.2% down 5,119, 59.2% versus November 2019 YoY −18.0% down 18.0% versus December 2018
Active listings — Listings available at month end.
7,406
MoM −4,552 −38.1% down 4,552, 38.1% versus November 2019 YoY −35.2% down 35.2% versus December 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
29
MoM +5 days +20.8% up 5 days, 20.8% versus November 2019 YoY −6.5% down 6.5% versus December 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 November 2019 YoY +1.0% up 1.0% versus December 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
124.6%
MoM +42.6 pp +52.0% up 42.6 pp, 52.0% versus November 2019 YoY +41.9% up 41.9% versus December 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.
1.7
MoM −0 −0.2% down 0, 0.2% versus November 2019 YoY −44.3% down 44.3% versus December 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 59.2% to 3,531 versus November 2019.
- Across all TRREB areas, active listings dropped 38.1% to 7,406 versus November 2019.
- Across all TRREB areas, sales dropped 38.0% to 4,399 versus November 2019.
- Across all TRREB areas, the median selling price edged down 1.1% to $721,000 versus November 2019.
- Across all TRREB areas, the average sale-to-list ratio edged down 1.0% to 98.0% versus November 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1.3%
Q3 2019
Toronto employment growth
5.3%
November 2019
Toronto unemployment rate
5.7%
November 2019
Inflation (CPI, year-over-year)
2.2%
November 2019
Bank of Canada overnight rate
1.75%
December 2019
Prime rate
3.95%
December 2019
1-year mortgage rate
3.64%
December 2019
3-year mortgage rate
3.94%
December 2019
5-year mortgage rate
5.19%
December 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,984 | −1,279 −39.2% down 1,279, 39.2% versus November 2019 | $1,052,081 | +$7,943 +0.8% up $7,943, 0.8% versus November 2019 | +11.3% up 11.3% |
| Semi-detached | 381 | −288 −43.0% down 288, 43.0% versus November 2019 | $805,144 | −$32,429 −3.9% down $32,429, 3.9% versus November 2019 | +6.5% up 6.5% |
| Att/row/townhouse | 396 | −230 −36.7% down 230, 36.7% versus November 2019 | $736,573 | +$6,574 +0.9% up $6,574, 0.9% versus November 2019 | +8.5% up 8.5% |
| Condo townhouse | 335 | −212 −38.8% down 212, 38.8% versus November 2019 | $597,216 | +$2,862 +0.5% up $2,862, 0.5% versus November 2019 | +5.3% up 5.3% |
| Condo apartment | 1,255 | −647 −34.0% down 647, 34.0% versus November 2019 | $612,464 | −$5,194 −0.8% down $5,194, 0.8% versus November 2019 | +10.5% up 10.5% |
| Link | 34 | −25 −42.4% down 25, 42.4% versus November 2019 | $679,929 | −$49,515 −6.8% down $49,515, 6.8% versus November 2019 | −2.1% down 2.1% |
| Co-op apartment | 6 | −1 −14.3% down 1, 14.3% versus November 2019 | $661,598 | +$53,027 +8.7% up $53,027, 8.7% versus November 2019 | −10.2% down 10.2% |
| Detached condo | 3 | −5 −62.5% down 5, 62.5% versus November 2019 | $714,167 | −$93,896 −11.6% down $93,896, 11.6% versus November 2019 | −24.8% down 24.8% |
| Co-ownership apartment | 5 | −4 −44.4% down 4, 44.4% versus November 2019 | $343,420 | −$33,276 −8.8% down $33,276, 8.8% versus November 2019 | −27.2% down 27.2% |
Average price by home type
13 months to December 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '19 | 1044138 | 837573 | 729999 | 594354 | 617658 |
| Dec '19 | 1052081 | 805144 | 736573 | 597216 | 612464 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C14 +34.0% up 34.0%
- Toronto W02 +18.0% up 18.0%
- Toronto C11 +12.8% up 12.8%
- Toronto C06 +12.4% up 12.4%
- Toronto C04 +12.0% up 12.0%
Bottom 5
- Toronto E02 −27.1% down 27.1%
- Toronto W01 −22.4% down 22.4%
- Toronto C09 −19.0% down 19.0%
- Toronto C10 −17.9% down 17.9%
- Toronto C02 −15.0% down 15.0%
Sales, month-over-month
Top 5
- Toronto C15 −6.9% down 6.9%
- East Gwillimbury −13.9% down 13.9%
- Brock −14.3% down 14.3%
- Toronto W09 −17.5% down 17.5%
- Toronto C14 −21.1% down 21.1%
Bottom 5
- Toronto E02 −62.2% down 62.2%
- Toronto W02 −60.3% down 60.3%
- Toronto C11 −58.5% down 58.5%
- Toronto W01 −56.3% down 56.3%
- Toronto C09 −54.5% down 54.5%
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
124.6%
prior month 82.0%
Months of inventory
1.7
All TRREB areas sits in a seller's market: 124.6% of new listings sold and 1.7 months of inventory on hand.
City of Toronto (416)
SNLR
123.7%
prior month 82.2%
Months of inventory
1.4
City of Toronto (416) sits in a seller's market: 123.7% of new listings sold and 1.4 months of inventory on hand.
905 total
SNLR
125.1%
prior month 81.8%
Months of inventory
1.9
905 total sits in a seller's market: 125.1% of new listings sold and 1.9 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
$806,094
- Sales
- 344
- SNLR
- 113.9%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,460,539
- Sales
- 149
- SNLR
- 118.3%
- MOI
- 2.0
Aggregated across 6 districts · View →
Scarborough
$685,737
- Sales
- 332
- SNLR
- 136.6%
- MOI
- 0.8
Aggregated across 8 districts · View →
York Region
$954,217
- Sales
- 730
- SNLR
- 124.4%
- MOI
- 2.6
Region total · View →
Durham Region
$640,269
- Sales
- 518
- SNLR
- 121.0%
- MOI
- 1.7
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.