Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$910,290
MoM +$70,927 +8.5% up $70,927, 8.5% versus January 2020 YoY +16.6% up 16.6% versus February 2019
Source: TRREB MarketWatch, February 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2020
In February 2020 the average selling price across the Greater Toronto Area jumped 8.5% to $910,290 versus January 2020, and sales jumped 58.4% to 7,256.
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.
$780,000
MoM +$45,000 +6.1% up $45,000, 6.1% versus January 2020 YoY +15.6% up 15.6% versus February 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$846,100
MoM +$17,900 +2.2% up $17,900, 2.2% versus January 2020 YoY +10.2% up 10.2% versus February 2019
Sales — Firm transactions reported through the MLS® System during the month.
7,256
MoM +2,675 +58.4% up 2,675, 58.4% versus January 2020 YoY +44.4% up 44.4% versus February 2019
Dollar volume — Total value of all sales in the month.
$6.61B
MoM +$2,759,944,975 +71.8% up $2,759,944,975, 71.8% versus January 2020 YoY +68.4% up 68.4% versus February 2019
New listings — Properties newly listed during the month.
10,613
MoM +2,777 +35.4% up 2,777, 35.4% versus January 2020 YoY +8.0% up 8.0% versus February 2019
Active listings — Listings available at month end.
8,816
MoM +1,044 +13.4% up 1,044, 13.4% versus January 2020 YoY −33.6% down 33.6% versus February 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
17
MoM −10 days −37.0% down 10 days, 37.0% versus January 2020 YoY n/a not available, prior month not on file versus February 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
23
MoM −14 days −37.8% down 14 days, 37.8% versus January 2020 YoY n/a not available, prior month not on file versus February 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
102%
MoM +2.0 pp +2.0% up 2.0 pp, 2.0% versus January 2020 YoY +3.0% up 3.0% versus February 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
68.4%
MoM +9.9 pp +16.9% up 9.9 pp, 16.9% versus January 2020 YoY +33.7% up 33.7% versus February 2019
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.
1.2
MoM −0 −28.4% down 0, 28.4% versus January 2020 YoY −54.0% down 54.0% versus February 2019
The month in 60 seconds
- Across all TRREB areas, sales jumped 58.4% to 7,256 versus January 2020.
- Across all TRREB areas, new listings jumped 35.4% to 10,613 versus January 2020.
- Across all TRREB areas, active listings jumped 13.4% to 8,816 versus January 2020.
- Across all TRREB areas, the average selling price jumped 8.5% to $910,290 versus January 2020.
- Across all TRREB areas, the median selling price rose 6.1% to $780,000 versus January 2020.
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 2019
Toronto employment growth
4.9%
January 2020
Toronto unemployment rate
5.5%
January 2020
Inflation (CPI, year-over-year)
2.4%
January 2020
Bank of Canada overnight rate
1.75%
February 2020
Prime rate
3.95%
February 2020
1-year mortgage rate
3.64%
February 2020
3-year mortgage rate
3.94%
February 2020
5-year mortgage rate
5.19%
February 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,476 | +1,402 +67.6% up 1,402, 67.6% versus January 2020 | $1,113,918 | +$75,671 +7.3% up $75,671, 7.3% versus January 2020 | +13.6% up 13.6% |
| Semi-detached | 647 | +296 +84.3% up 296, 84.3% versus January 2020 | $872,821 | +$80,495 +10.2% up $80,495, 10.2% versus January 2020 | +4.8% up 4.8% |
| Att/row/townhouse | 654 | +236 +56.5% up 236, 56.5% versus January 2020 | $775,554 | +$19,703 +2.6% up $19,703, 2.6% versus January 2020 | +13.4% up 13.4% |
| Condo townhouse | 486 | +122 +33.5% up 122, 33.5% versus January 2020 | $671,236 | +$48,596 +7.8% up $48,596, 7.8% versus January 2020 | +17.5% up 17.5% |
| Condo apartment | 1,906 | +571 +42.8% up 571, 42.8% versus January 2020 | $666,358 | +$36,311 +5.8% up $36,311, 5.8% versus January 2020 | +18.5% up 18.5% |
| Link | 71 | +40 +129.0% up 40, 129.0% versus January 2020 | $791,149 | −$24,570 −3.0% down $24,570, 3.0% versus January 2020 | +20.0% up 20.0% |
| Co-op apartment | 7 | +3 +75.0% up 3, 75.0% versus January 2020 | $516,643 | −$47,107 −8.4% down $47,107, 8.4% versus January 2020 | −27.7% down 27.7% |
| Detached condo | 4 | +1 +33.3% up 1, 33.3% versus January 2020 | $745,250 | +$78,583 +11.8% up $78,583, 11.8% versus January 2020 | +3.5% up 3.5% |
| Co-ownership apartment | 5 | +4 +400.0% up 4, 400.0% versus January 2020 | $418,800 | −$31,200 −6.9% down $31,200, 6.9% versus January 2020 | −7.3% down 7.3% |
Average price by home type
13 months to February 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jan '20 | 1038247 | 792326 | 755851 | 622640 | 630047 |
| Feb '20 | 1113918 | 872821 | 775554 | 671236 | 666358 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C14 +39.8% up 39.8%
- Toronto C02 +38.9% up 38.9%
- Toronto C13 +32.6% up 32.6%
- Toronto C12 +25.1% up 25.1%
- Toronto W07 +25.1% up 25.1%
Bottom 5
- Toronto E06 −22.6% down 22.6%
- Toronto C09 −16.6% down 16.6%
- Uxbridge −16.4% down 16.4%
- Brock −14.3% down 14.3%
- Toronto C03 −11.3% down 11.3%
Sales, month-over-month
Top 5
- Toronto E01 +283.3% up 283.3%
- Toronto E02 +172.2% up 172.2%
- Toronto W01 +172.2% up 172.2%
- Toronto C12 +161.5% up 161.5%
- Toronto C09 +150.0% up 150.0%
Bottom 5
- Uxbridge −33.3% down 33.3%
- Brock −20.0% down 20.0%
- Toronto W05 +14.9% up 14.9%
- Toronto C08 +18.1% up 18.1%
- Toronto E08 +21.9% up 21.9%
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
68.4%
prior month 58.5%
Months of inventory
1.2
All TRREB areas sits in a seller's market: 68.4% of new listings sold and 1.2 months of inventory on hand.
City of Toronto (416)
SNLR
70.4%
prior month 60.9%
Months of inventory
1.1
City of Toronto (416) sits in a seller's market: 70.4% of new listings sold and 1.1 months of inventory on hand.
905 total
SNLR
67.4%
prior month 57.2%
Months of inventory
1.3
905 total sits in a seller's market: 67.4% of new listings sold and 1.3 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
$870,025
- Sales
- 497
- SNLR
- 69.0%
- MOI
- 1.2
Aggregated across 2 districts · View →
Midtown
$1,600,556
- Sales
- 286
- SNLR
- 67.8%
- MOI
- 1.3
Aggregated across 6 districts · View →
Scarborough
$728,408
- Sales
- 435
- SNLR
- 75.1%
- MOI
- 0.7
Aggregated across 8 districts · View →
York Region
$1,015,558
- Sales
- 1,285
- SNLR
- 62.3%
- MOI
- 1.7
Region total · View →
Durham Region
$657,788
- Sales
- 890
- SNLR
- 68.8%
- MOI
- 1.2
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.