Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$902,680
MoM −$7,610 −0.8% down $7,610, 0.8% versus February 2020 YoY +14.5% up 14.5% versus March 2019
Source: TRREB MarketWatch, March 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2020
In March 2020 the average selling price across the Greater Toronto Area held steady at $902,680 versus February 2020, and sales jumped 10.4% to 8,012.
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.
$785,000
MoM +$5,000 +0.6% up $5,000, 0.6% versus February 2020 YoY +13.8% up 13.8% versus March 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$865,200
MoM +$19,100 +2.3% up $19,100, 2.3% versus February 2020 YoY +11.1% up 11.1% versus March 2019
Sales — Firm transactions reported through the MLS® System during the month.
8,012
MoM +756 +10.4% up 756, 10.4% versus February 2020 YoY +11.5% up 11.5% versus March 2019
Dollar volume — Total value of all sales in the month.
$7.23B
MoM +$627,201,619 +9.5% up $627,201,619, 9.5% versus February 2020 YoY +27.6% up 27.6% versus March 2019
New listings — Properties newly listed during the month.
14,424
MoM +3,811 +35.9% up 3,811, 35.9% versus February 2020 YoY +3.1% up 3.1% versus March 2019
Active listings — Listings available at month end.
10,676
MoM +1,860 +21.1% up 1,860, 21.1% versus February 2020 YoY −31.5% down 31.5% versus March 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
13
MoM −4 days −23.5% down 4 days, 23.5% versus February 2020 YoY n/a not available, prior month not on file versus March 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
17
MoM −6 days −26.1% down 6 days, 26.1% versus February 2020 YoY n/a not available, prior month not on file versus March 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
103%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus February 2020 YoY +4.0% up 4.0% versus March 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
55.5%
MoM −12.8 pp −18.8% down 12.8 pp, 18.8% versus February 2020 YoY +8.2% up 8.2% versus March 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.
1.3
MoM +0 +9.7% up 0, 9.7% versus February 2020 YoY −38.5% down 38.5% versus March 2019
The month in 60 seconds
- Across all TRREB areas, new listings jumped 35.9% to 14,424 versus February 2020.
- Across all TRREB areas, active listings jumped 21.1% to 10,676 versus February 2020.
- Across all TRREB areas, sales jumped 10.4% to 8,012 versus February 2020.
- Across all TRREB areas, the average sale-to-list ratio held steady at 103.0% versus February 2020.
- Across all TRREB areas, the average selling price held steady at $902,680 versus February 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
4.6%
February 2020
Toronto unemployment rate
5.4%
February 2020
Inflation (CPI, year-over-year)
2.2%
February 2020
Bank of Canada overnight rate
0.25%
March 2020
Prime rate
2.45%
March 2020
1-year mortgage rate
3.29%
March 2020
3-year mortgage rate
3.94%
March 2020
5-year mortgage rate
5.04%
March 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,760 | +284 +8.2% up 284, 8.2% versus February 2020 | $1,107,870 | −$6,048 −0.5% down $6,048, 0.5% versus February 2020 | +12.5% up 12.5% |
| Semi-detached | 751 | +104 +16.1% up 104, 16.1% versus February 2020 | $889,480 | +$16,659 +1.9% up $16,659, 1.9% versus February 2020 | +12.7% up 12.7% |
| Att/row/townhouse | 735 | +81 +12.4% up 81, 12.4% versus February 2020 | $786,062 | +$10,508 +1.4% up $10,508, 1.4% versus February 2020 | +11.4% up 11.4% |
| Condo townhouse | 653 | +167 +34.4% up 167, 34.4% versus February 2020 | $647,780 | −$23,456 −3.5% down $23,456, 3.5% versus February 2020 | +13.4% up 13.4% |
| Condo apartment | 2,014 | +108 +5.7% up 108, 5.7% versus February 2020 | $658,791 | −$7,567 −1.1% down $7,567, 1.1% versus February 2020 | +17.6% up 17.6% |
| Link | 80 | +9 +12.7% up 9, 12.7% versus February 2020 | $767,380 | −$23,769 −3.0% down $23,769, 3.0% versus February 2020 | +11.5% up 11.5% |
| Co-op apartment | 12 | +5 +71.4% up 5, 71.4% versus February 2020 | $501,750 | −$14,893 −2.9% down $14,893, 2.9% versus February 2020 | −4.5% down 4.5% |
| Detached condo | 5 | +1 +25.0% up 1, 25.0% versus February 2020 | $538,400 | −$206,850 −27.8% down $206,850, 27.8% versus February 2020 | −22.4% down 22.4% |
| Co-ownership apartment | 2 | −3 −60.0% down 3, 60.0% versus February 2020 | $506,500 | +$87,700 +20.9% up $87,700, 20.9% versus February 2020 | +71.6% up 71.6% |
Average price by home type
13 months to March 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '20 | 1107870 | 889480 | 786062 | 647780 | 658791 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W08 +20.0% up 20.0%
- Toronto C03 +16.0% up 16.0%
- Toronto E08 +13.2% up 13.2%
- Toronto E07 +12.4% up 12.4%
- Toronto E06 +10.5% up 10.5%
Bottom 5
- Toronto C06 −21.9% down 21.9%
- Toronto W07 −21.3% down 21.3%
- Toronto C10 −18.9% down 18.9%
- Toronto C11 −18.1% down 18.1%
- Toronto W04 −13.6% down 13.6%
Sales, month-over-month
Top 5
- Pickering +59.5% up 59.5%
- Toronto C13 +55.6% up 55.6%
- Toronto C06 +50.0% up 50.0%
- Toronto E01 +50.0% up 50.0%
- Uxbridge +44.4% up 44.4%
Bottom 5
- Toronto C09 −28.0% down 28.0%
- Toronto C02 −19.7% down 19.7%
- Whitchurch-Stouffville −13.5% down 13.5%
- Scugog −11.5% down 11.5%
- Toronto W10 −9.4% down 9.4%
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
55.5%
prior month 68.4%
Months of inventory
1.3
All TRREB areas reads differently on the two balance measures — balanced conditions at 55.5% sales-to-new-listings, but a seller's market at 1.3 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
56.5%
prior month 70.4%
Months of inventory
1.2
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 56.5% sales-to-new-listings, but a seller's market at 1.2 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
55.0%
prior month 67.4%
Months of inventory
1.4
905 total reads differently on the two balance measures — balanced conditions at 55.0% sales-to-new-listings, but a seller's market at 1.4 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
$881,945
- Sales
- 570
- SNLR
- 50.4%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,528,080
- Sales
- 263
- SNLR
- 53.8%
- MOI
- 1.6
Aggregated across 6 districts · View →
Scarborough
$769,961
- Sales
- 491
- SNLR
- 59.0%
- MOI
- 0.9
Aggregated across 8 districts · View →
York Region
$1,038,598
- Sales
- 1,403
- SNLR
- 52.3%
- MOI
- 1.7
Region total · View →
Durham Region
$656,211
- Sales
- 1,101
- SNLR
- 60.2%
- MOI
- 1.1
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.