Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$821,392
MoM −$81,288 −9.0% down $81,288, 9.0% versus March 2020 YoY +0.2% up 0.2% versus April 2019
Source: TRREB MarketWatch, April 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
April 2020
In April 2020 the average selling price across the Greater Toronto Area dropped 9.0% to $821,392 versus March 2020, and sales dropped 62.9% to 2,975.
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.
$732,000
MoM −$53,000 −6.8% down $53,000, 6.8% versus March 2020 YoY +3.2% up 3.2% versus April 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$870,100
MoM +$4,900 +0.6% up $4,900, 0.6% versus March 2020 YoY +10.2% up 10.2% versus April 2019
Sales — Firm transactions reported through the MLS® System during the month.
2,975
MoM −5,037 −62.9% down 5,037, 62.9% versus March 2020 YoY −67.1% down 67.1% versus April 2019
Dollar volume — Total value of all sales in the month.
$2.44B
MoM −$4,788,628,420 −66.2% down $4,788,628,420, 66.2% versus March 2020 YoY −67.0% down 67.0% versus April 2019
New listings — Properties newly listed during the month.
6,174
MoM −8,250 −57.2% down 8,250, 57.2% versus March 2020 YoY −64.1% down 64.1% versus April 2019
Active listings — Listings available at month end.
10,561
MoM −115 −1.1% down 115, 1.1% versus March 2020 YoY −41.4% down 41.4% versus April 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
19
MoM +6 days +46.2% up 6 days, 46.2% versus March 2020 YoY n/a not available, prior month not on file versus April 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
24
MoM +7 days +41.2% up 7 days, 41.2% versus March 2020 YoY n/a not available, prior month not on file versus April 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM −5.0 pp −4.9% down 5.0 pp, 4.9% versus March 2020 YoY −1.0% down 1.0% versus April 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
48.2%
MoM −7.4 pp −13.3% down 7.4 pp, 13.3% versus March 2020 YoY −8.3% down 8.3% versus April 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.
3.5
MoM +2 +166.4% up 2, 166.4% versus March 2020 YoY +78.0% up 78.0% versus April 2019
The month in 60 seconds
- Across all TRREB areas, sales dropped 62.9% to 2,975 versus March 2020.
- Across all TRREB areas, new listings dropped 57.2% to 6,174 versus March 2020.
- Across all TRREB areas, the average selling price dropped 9.0% to $821,392 versus March 2020.
- Across all TRREB areas, the median selling price fell 6.8% to $732,000 versus March 2020.
- Across all TRREB areas, the average sale-to-list ratio fell 4.9% to 98.0% versus March 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
1.8%
March 2020
Toronto unemployment rate
6%
March 2020
Inflation (CPI, year-over-year)
0.9%
March 2020
Bank of Canada overnight rate
0.25%
April 2020
Prime rate
2.45%
April 2020
1-year mortgage rate
3.29%
April 2020
3-year mortgage rate
4.05%
April 2020
5-year mortgage rate
5.04%
April 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,412 | −2,348 −62.4% down 2,348, 62.4% versus March 2020 | $983,630 | −$124,240 −11.2% down $124,240, 11.2% versus March 2020 | −3.4% down 3.4% |
| Semi-detached | 324 | −427 −56.9% down 427, 56.9% versus March 2020 | $865,971 | −$23,509 −2.6% down $23,509, 2.6% versus March 2020 | +7.1% up 7.1% |
| Att/row/townhouse | 294 | −441 −60.0% down 441, 60.0% versus March 2020 | $735,818 | −$50,244 −6.4% down $50,244, 6.4% versus March 2020 | +3.3% up 3.3% |
| Condo townhouse | 238 | −415 −63.6% down 415, 63.6% versus March 2020 | $614,162 | −$33,618 −5.2% down $33,618, 5.2% versus March 2020 | +5.3% up 5.3% |
| Condo apartment | 667 | −1,347 −66.9% down 1,347, 66.9% versus March 2020 | $578,283 | −$80,508 −12.2% down $80,508, 12.2% versus March 2020 | −1.7% down 1.7% |
| Link | 32 | −48 −60.0% down 48, 60.0% versus March 2020 | $705,213 | −$62,167 −8.1% down $62,167, 8.1% versus March 2020 | +2.7% up 2.7% |
| Co-op apartment | 3 | −9 −75.0% down 9, 75.0% versus March 2020 | $298,000 | −$203,750 −40.6% down $203,750, 40.6% versus March 2020 | −53.8% down 53.8% |
| Detached condo | 3 | −2 −40.0% down 2, 40.0% versus March 2020 | $503,000 | −$35,400 −6.6% down $35,400, 6.6% versus March 2020 | −34.2% down 34.2% |
| Co-ownership apartment | 2 | no change no change versus March 2020 | $497,500 | −$9,000 −1.8% down $9,000, 1.8% versus March 2020 | +26.8% up 26.8% |
Average price by home type
13 months to April 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Apr '20 | 983630 | 865971 | 735818 | 614162 | 578283 |
Movers this month
Ranked across 52 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +30.1% up 30.1%
- Toronto W01 +29.1% up 29.1%
- Whitchurch-Stouffville +28.1% up 28.1%
- Uxbridge +25.8% up 25.8%
- Toronto C15 +14.1% up 14.1%
Bottom 5
- Toronto C13 −36.5% down 36.5%
- Toronto C02 −31.3% down 31.3%
- Toronto E07 −21.3% down 21.3%
- Toronto W09 −20.8% down 20.8%
- Brock −20.3% down 20.3%
Sales, month-over-month
Top 5
- Brock −23.1% down 23.1%
- Scugog −30.4% down 30.4%
- Toronto E02 −32.4% down 32.4%
- Toronto W02 −42.4% down 42.4%
- Toronto E09 −47.6% down 47.6%
Bottom 5
- Toronto C13 −82.9% down 82.9%
- Toronto C02 −79.3% down 79.3%
- Toronto C04 −78.6% down 78.6%
- King −75.0% down 75.0%
- Toronto C07 −74.4% down 74.4%
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
48.2%
prior month 55.5%
Months of inventory
3.5
All TRREB areas reads differently on the two balance measures — balanced conditions at 48.2% sales-to-new-listings, but a seller's market at 3.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
46.6%
prior month 56.5%
Months of inventory
3.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 46.6% sales-to-new-listings, but a seller's market at 3.4 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
49.1%
prior month 55.0%
Months of inventory
3.7
905 total reads differently on the two balance measures — balanced conditions at 49.1% sales-to-new-listings, but a seller's market at 3.7 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
$745,163
- Sales
- 205
- SNLR
- 35.9%
- MOI
- 4.3
Aggregated across 2 districts · View →
Midtown
$1,269,119
- Sales
- 83
- SNLR
- 33.5%
- MOI
- 5.4
Aggregated across 6 districts · View →
Scarborough
$691,669
- Sales
- 199
- SNLR
- 57.5%
- MOI
- 2.2
Aggregated across 8 districts · View →
York Region
$968,499
- Sales
- 436
- SNLR
- 43.9%
- MOI
- 5.2
Region total · View →
Durham Region
$612,563
- Sales
- 513
- SNLR
- 58.1%
- MOI
- 2.3
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.