Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$968,318
MoM +$7,546 +0.8% up $7,546, 0.8% versus September 2020 YoY +13.6% up 13.6% versus October 2019
Source: TRREB MarketWatch, October 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2020
In October 2020 the average selling price across the Greater Toronto Area held steady at $968,318 versus September 2020, and sales fell 4.7% to 10,563.
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.
$830,000
MoM −$251 −0.0% down $251, 0.0% versus September 2020 YoY +13.7% up 13.7% versus October 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$897,700
MoM no change no change versus September 2020 YoY +10.8% up 10.8% versus October 2019
Sales — Firm transactions reported through the MLS® System during the month.
10,563
MoM −520 −4.7% down 520, 4.7% versus September 2020 YoY +24.4% up 24.4% versus October 2019
Dollar volume — Total value of all sales in the month.
$10.23B
MoM −$419,898,698 −3.9% down $419,898,698, 3.9% versus September 2020 YoY +41.4% up 41.4% versus October 2019
New listings — Properties newly listed during the month.
17,802
MoM −2,618 −12.8% down 2,618, 12.8% versus September 2020 YoY +36.4% up 36.4% versus October 2019
Active listings — Listings available at month end.
17,313
MoM −854 −4.7% down 854, 4.7% versus September 2020 YoY +12.6% up 12.6% versus October 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
17
MoM +1 day +6.3% up 1 day, 6.3% versus September 2020 YoY n/a not available, prior month not on file versus October 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
24
MoM +2 days +9.1% up 2 days, 9.1% versus September 2020 YoY n/a not available, prior month not on file versus October 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
101%
MoM no change no change versus September 2020 YoY +2.0% up 2.0% versus October 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
59.3%
MoM +5.1 pp +9.3% up 5.1 pp, 9.3% versus September 2020 YoY −8.8% down 8.8% versus October 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.
1.6
MoM −0 −0.0% down 0, 0.0% versus September 2020 YoY −9.5% down 9.5% versus October 2019
The month in 60 seconds
- Across all TRREB areas, new listings dropped 12.8% to 17,802 versus September 2020.
- Across all TRREB areas, active listings fell 4.7% to 17,313 versus September 2020.
- Across all TRREB areas, sales fell 4.7% to 10,563 versus September 2020.
- Across all TRREB areas, the average selling price held steady at $968,318 versus September 2020.
- Across all TRREB areas, the median selling price held steady at $830,000 versus September 2020.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
7%
Q2 2020
Toronto employment growth
-6%
September 2020
Toronto unemployment rate
12.8%
September 2020
Inflation (CPI, year-over-year)
0.5%
September 2020
Bank of Canada overnight rate
0.25%
October 2020
Prime rate
2.45%
October 2020
1-year mortgage rate
3.09%
October 2020
3-year mortgage rate
3.59%
October 2020
5-year mortgage rate
4.79%
October 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 5,263 | −296 −5.3% down 296, 5.3% versus September 2020 | $1,204,844 | +$20,144 +1.7% up $20,144, 1.7% versus September 2020 | +14.8% up 14.8% |
| Semi-detached | 1,071 | −69 −6.1% down 69, 6.1% versus September 2020 | $935,429 | +$13,160 +1.4% up $13,160, 1.4% versus September 2020 | +9.7% up 9.7% |
| Att/row/townhouse | 989 | −62 −5.9% down 62, 5.9% versus September 2020 | $821,590 | −$456 −0.1% down $456, 0.1% versus September 2020 | +13.0% up 13.0% |
| Condo townhouse | 853 | +7 +0.8% up 7, 0.8% versus September 2020 | $662,572 | +$5,581 +0.8% up $5,581, 0.8% versus September 2020 | +7.1% up 7.1% |
| Condo apartment | 2,260 | −107 −4.5% down 107, 4.5% versus September 2020 | $622,122 | −$12,634 −2.0% down $12,634, 2.0% versus September 2020 | +0.8% up 0.8% |
| Link | 97 | +11 +12.8% up 11, 12.8% versus September 2020 | $801,108 | −$7,276 −0.9% down $7,276, 0.9% versus September 2020 | +8.5% up 8.5% |
| Co-op apartment | 9 | −2 −18.2% down 2, 18.2% versus September 2020 | $587,556 | +$155,211 +35.9% up $155,211, 35.9% versus September 2020 | +23.0% up 23.0% |
| Detached condo | 15 | −4 −21.1% down 4, 21.1% versus September 2020 | $939,493 | +$247,847 +35.8% up $247,847, 35.8% versus September 2020 | −6.8% down 6.8% |
| Co-ownership apartment | 6 | +2 +50.0% up 2, 50.0% versus September 2020 | $765,000 | +$407,250 +113.8% up $407,250, 113.8% versus September 2020 | +62.1% up 62.1% |
Average price by home type
13 months to October 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jun '20 | 1127419 | 929138 | 786390 | 654897 | 631704 |
| Jul '20 | 1154356 | 915451 | 795330 | 647470 | 635778 |
| Aug '20 | 1172880 | 905712 | 806239 | 660177 | 629643 |
| Sep '20 | 1184700 | 922269 | 822046 | 656991 | 634756 |
| Oct '20 | 1204844 | 935429 | 821590 | 662572 | 622122 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- King +24.6% up 24.6%
- Toronto W07 +19.9% up 19.9%
- Brock +15.4% up 15.4%
- Uxbridge +14.6% up 14.6%
- Toronto C11 +14.1% up 14.1%
Bottom 5
- Toronto C12 −16.5% down 16.5%
- Toronto E06 −13.9% down 13.9%
- Toronto E08 −11.1% down 11.1%
- Toronto C03 −9.3% down 9.3%
- Toronto E04 −8.8% down 8.8%
Sales, month-over-month
Top 5
- Brock +61.9% up 61.9%
- Toronto C04 +39.7% up 39.7%
- Toronto C11 +34.5% up 34.5%
- Toronto E09 +24.5% up 24.5%
- Toronto E02 +23.9% up 23.9%
Bottom 5
- Toronto E05 −33.3% down 33.3%
- Toronto C06 −25.6% down 25.6%
- Toronto C15 −22.4% down 22.4%
- Ajax −19.5% down 19.5%
- Toronto C13 −16.9% down 16.9%
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
59.3%
prior month 54.3%
Months of inventory
1.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 59.3% sales-to-new-listings, but a seller's market at 1.6 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
44.9%
prior month 40.9%
Months of inventory
2.5
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 44.9% 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.
905 total
SNLR
70.6%
prior month 64.2%
Months of inventory
1.2
905 total sits in a seller's market: 70.6% of new listings sold and 1.2 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
$816,428
- Sales
- 610
- SNLR
- 27.7%
- MOI
- 4.9
Aggregated across 2 districts · View →
Midtown
$1,667,456
- Sales
- 414
- SNLR
- 45.1%
- MOI
- 2.6
Aggregated across 6 districts · View →
Scarborough
$778,621
- Sales
- 670
- SNLR
- 64.1%
- MOI
- 1.3
Aggregated across 8 districts · View →
York Region
$1,107,204
- Sales
- 1,919
- SNLR
- 62.9%
- MOI
- 1.9
Region total · View →
Durham Region
$740,436
- Sales
- 1,377
- SNLR
- 83.8%
- MOI
- 0.7
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.