Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$863,599
MoM +$42,207 +5.1% up $42,207, 5.1% versus April 2020 YoY +3.0% up 3.0% versus May 2019
Source: TRREB MarketWatch, May 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
May 2020
In May 2020 the average selling price across the Greater Toronto Area rose 5.1% to $863,599 versus April 2020, and sales jumped 54.8% to 4,606.
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.
$754,500
MoM +$22,500 +3.1% up $22,500, 3.1% versus April 2020 YoY +4.1% up 4.1% versus May 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$870,000
MoM −$100 −0.0% down $100, 0.0% versus April 2020 YoY +9.4% up 9.4% versus May 2019
Sales — Firm transactions reported through the MLS® System during the month.
4,606
MoM +1,631 +54.8% up 1,631, 54.8% versus April 2020 YoY −53.9% down 53.9% versus May 2019
Dollar volume — Total value of all sales in the month.
$3.98B
MoM +$1,534,094,386 +62.8% up $1,534,094,386, 62.8% versus April 2020 YoY −52.5% down 52.5% versus May 2019
New listings — Properties newly listed during the month.
9,104
MoM +2,930 +47.5% up 2,930, 47.5% versus April 2020 YoY −53.0% down 53.0% versus May 2019
Active listings — Listings available at month end.
11,448
MoM +887 +8.4% up 887, 8.4% versus April 2020 YoY −42.8% down 42.8% versus May 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
24
MoM +5 days +26.3% up 5 days, 26.3% versus April 2020 YoY n/a not available, prior month not on file versus May 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
32
MoM +8 days +33.3% up 8 days, 33.3% versus April 2020 YoY n/a not available, prior month not on file versus May 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus April 2020 YoY no change no change versus May 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
50.6%
MoM +2.4 pp +5.0% up 2.4 pp, 5.0% versus April 2020 YoY −1.8% down 1.8% versus May 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.
2.5
MoM −1 −30.0% down 1, 30.0% versus April 2020 YoY +24.0% up 24.0% versus May 2019
The month in 60 seconds
- Across all TRREB areas, sales jumped 54.8% to 4,606 versus April 2020.
- Across all TRREB areas, new listings jumped 47.5% to 9,104 versus April 2020.
- Across all TRREB areas, active listings jumped 8.4% to 11,448 versus April 2020.
- Across all TRREB areas, the average selling price rose 5.1% to $863,599 versus April 2020.
- Across all TRREB areas, the median selling price rose 3.1% to $754,500 versus April 2020.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
-8.2%
Q1 2020
Toronto employment growth
-5.4%
April 2020
Toronto unemployment rate
7.9%
April 2020
Inflation (CPI, year-over-year)
-0.2%
April 2020
Bank of Canada overnight rate
0.25%
May 2020
Prime rate
2.45%
May 2020
1-year mortgage rate
3.19%
May 2020
3-year mortgage rate
3.89%
May 2020
5-year mortgage rate
4.94%
May 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,285 | +873 +61.8% up 873, 61.8% versus April 2020 | $1,033,341 | +$49,711 +5.1% up $49,711, 5.1% versus April 2020 | −0.9% down 0.9% |
| Semi-detached | 463 | +139 +42.9% up 139, 42.9% versus April 2020 | $867,717 | +$1,746 +0.2% up $1,746, 0.2% versus April 2020 | +4.9% up 4.9% |
| Att/row/townhouse | 446 | +152 +51.7% up 152, 51.7% versus April 2020 | $743,380 | +$7,562 +1.0% up $7,562, 1.0% versus April 2020 | +3.5% up 3.5% |
| Condo townhouse | 369 | +131 +55.0% up 131, 55.0% versus April 2020 | $618,532 | +$4,370 +0.7% up $4,370, 0.7% versus April 2020 | +2.8% up 2.8% |
| Condo apartment | 1,002 | +335 +50.2% up 335, 50.2% versus April 2020 | $625,445 | +$47,162 +8.2% up $47,162, 8.2% versus April 2020 | +5.9% up 5.9% |
| Link | 34 | +2 +6.3% up 2, 6.3% versus April 2020 | $695,318 | −$9,895 −1.4% down $9,895, 1.4% versus April 2020 | −2.5% down 2.5% |
| Co-op apartment | 1 | −2 −66.7% down 2, 66.7% versus April 2020 | $245,000 | −$53,000 −17.8% down $53,000, 17.8% versus April 2020 | −39.4% down 39.4% |
| Detached condo | 4 | +1 +33.3% up 1, 33.3% versus April 2020 | $884,250 | +$381,250 +75.8% up $381,250, 75.8% versus April 2020 | +16.1% up 16.1% |
| Co-ownership apartment | 2 | no change no change versus April 2020 | $446,000 | −$51,500 −10.4% down $51,500, 10.4% versus April 2020 | +28.8% up 28.8% |
Average price by home type
13 months to May 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| May '20 | 1033341 | 867717 | 743380 | 618532 | 625445 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C03 +55.1% up 55.1%
- Toronto C11 +37.5% up 37.5%
- Toronto C09 +27.3% up 27.3%
- Toronto C13 +26.7% up 26.7%
- Toronto E07 +25.1% up 25.1%
Bottom 5
- Toronto C15 −12.5% down 12.5%
- Toronto C10 −10.6% down 10.6%
- Toronto C06 −9.3% down 9.3%
- Toronto W04 −8.6% down 8.6%
- Whitchurch-Stouffville −4.7% down 4.7%
Sales, month-over-month
Top 5
- Toronto W07 +250.0% up 250.0%
- Toronto C13 +216.7% up 216.7%
- Caledon +180.9% up 180.9%
- King +160.0% up 160.0%
- Toronto E05 +147.1% up 147.1%
Bottom 5
- Toronto E02 −28.3% down 28.3%
- Toronto E04 −17.4% down 17.4%
- Toronto C06 −7.1% down 7.1%
- Toronto C03 no change no change
- Scugog no change no change
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
50.6%
prior month 48.2%
Months of inventory
2.5
All TRREB areas reads differently on the two balance measures — balanced conditions at 50.6% sales-to-new-listings, but a seller's market at 2.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
45.0%
prior month 46.6%
Months of inventory
2.7
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 45.0% sales-to-new-listings, but a seller's market at 2.7 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
53.8%
prior month 49.1%
Months of inventory
2.4
905 total reads differently on the two balance measures — balanced conditions at 53.8% sales-to-new-listings, but a seller's market at 2.4 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
$827,540
- Sales
- 317
- SNLR
- 35.1%
- MOI
- 3.5
Aggregated across 2 districts · View →
Midtown
$1,455,425
- Sales
- 151
- SNLR
- 38.9%
- MOI
- 3.4
Aggregated across 6 districts · View →
Scarborough
$752,913
- Sales
- 258
- SNLR
- 59.7%
- MOI
- 1.8
Aggregated across 8 districts · View →
York Region
$1,010,745
- Sales
- 692
- SNLR
- 43.1%
- MOI
- 3.6
Region total · View →
Durham Region
$651,590
- Sales
- 770
- SNLR
- 67.7%
- MOI
- 1.5
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.