Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$955,615
MoM −$12,703 −1.3% down $12,703, 1.3% versus October 2020 YoY +13.3% up 13.3% versus November 2019
Source: TRREB MarketWatch, November 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
November 2020
In November 2020 the average selling price across the Greater Toronto Area edged down 1.3% to $955,615 versus October 2020, and sales dropped 17.0% to 8,766.
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 no change no change versus October 2020 YoY +13.9% up 13.9% versus November 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$902,500
MoM +$4,800 +0.5% up $4,800, 0.5% versus October 2020 YoY +10.6% up 10.6% versus November 2019
Sales — Firm transactions reported through the MLS® System during the month.
8,766
MoM −1,797 −17.0% down 1,797, 17.0% versus October 2020 YoY +23.6% up 23.6% versus November 2019
Dollar volume — Total value of all sales in the month.
$8.38B
MoM −$1,851,418,684 −18.1% down $1,851,418,684, 18.1% versus October 2020 YoY +40.0% up 40.0% versus November 2019
New listings — Properties newly listed during the month.
11,545
MoM −6,257 −35.1% down 6,257, 35.1% versus October 2020 YoY +33.5% up 33.5% versus November 2019
Active listings — Listings available at month end.
13,798
MoM −3,515 −20.3% down 3,515, 20.3% versus October 2020 YoY +15.4% up 15.4% versus November 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
19
MoM +2 days +11.8% up 2 days, 11.8% versus October 2020 YoY n/a not available, prior month not on file versus November 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
28
MoM +4 days +16.7% up 4 days, 16.7% versus October 2020 YoY n/a not available, prior month not on file versus November 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 October 2020 YoY +2.0% up 2.0% versus November 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
75.9%
MoM +16.6 pp +28.0% up 16.6 pp, 28.0% versus October 2020 YoY −7.4% down 7.4% versus November 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 −4.0% down 0, 4.0% versus October 2020 YoY −6.7% down 6.7% versus November 2019
The month in 60 seconds
- Across all TRREB areas, new listings dropped 35.1% to 11,545 versus October 2020.
- Across all TRREB areas, active listings dropped 20.3% to 13,798 versus October 2020.
- Across all TRREB areas, sales dropped 17.0% to 8,766 versus October 2020.
- Across all TRREB areas, the average selling price edged down 1.3% to $955,615 versus October 2020.
- Across all TRREB areas, the median selling price held steady at $830,000 versus October 2020.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
40.6%
Q3 2020
Toronto employment growth
-3.5%
October 2020
Toronto unemployment rate
11.5%
October 2020
Inflation (CPI, year-over-year)
0.7%
October 2020
Bank of Canada overnight rate
0.25%
November 2020
Prime rate
2.45%
November 2020
1-year mortgage rate
3.09%
November 2020
3-year mortgage rate
3.59%
November 2020
5-year mortgage rate
4.79%
November 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,222 | −1,041 −19.8% down 1,041, 19.8% versus October 2020 | $1,202,281 | −$2,563 −0.2% down $2,563, 0.2% versus October 2020 | +15.1% up 15.1% |
| Semi-detached | 888 | −183 −17.1% down 183, 17.1% versus October 2020 | $946,735 | +$11,306 +1.2% up $11,306, 1.2% versus October 2020 | +13.0% up 13.0% |
| Att/row/townhouse | 813 | −176 −17.8% down 176, 17.8% versus October 2020 | $833,114 | +$11,524 +1.4% up $11,524, 1.4% versus October 2020 | +14.1% up 14.1% |
| Condo townhouse | 714 | −139 −16.3% down 139, 16.3% versus October 2020 | $657,370 | −$5,202 −0.8% down $5,202, 0.8% versus October 2020 | +10.6% up 10.6% |
| Condo apartment | 2,032 | −228 −10.1% down 228, 10.1% versus October 2020 | $605,863 | −$16,259 −2.6% down $16,259, 2.6% versus October 2020 | −1.9% down 1.9% |
| Link | 77 | −20 −20.6% down 20, 20.6% versus October 2020 | $912,677 | +$111,569 +13.9% up $111,569, 13.9% versus October 2020 | +25.1% up 25.1% |
| Co-op apartment | 17 | +8 +88.9% up 8, 88.9% versus October 2020 | $603,244 | +$15,688 +2.7% up $15,688, 2.7% versus October 2020 | −0.9% down 0.9% |
| Detached condo | 3 | −12 −80.0% down 12, 80.0% versus October 2020 | $619,967 | −$319,526 −34.0% down $319,526, 34.0% versus October 2020 | −23.3% down 23.3% |
| Co-ownership apartment | 0 | −6 −100.0% down 6, 100.0% versus October 2020 | $0 | −$765,000 −100.0% down $765,000, 100.0% versus October 2020 | −100.0% down 100.0% |
Average price by home type
13 months to November 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '20 | 1202281 | 946735 | 833114 | 657370 | 605863 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +15.5% up 15.5%
- Toronto W09 +10.7% up 10.7%
- Toronto W05 +10.5% up 10.5%
- Toronto E04 +10.3% up 10.3%
- Toronto E03 +10.1% up 10.1%
Bottom 5
- Toronto W01 −24.8% down 24.8%
- King −20.8% down 20.8%
- Toronto W04 −16.9% down 16.9%
- Toronto W08 −14.0% down 14.0%
- Caledon −10.8% down 10.8%
Sales, month-over-month
Top 5
- Toronto E07 +13.1% up 13.1%
- Toronto C06 +10.3% up 10.3%
- Toronto C15 +5.8% up 5.8%
- King no change no change
- Toronto C01 −0.5% down 0.5%
Bottom 5
- Toronto C04 −35.3% down 35.3%
- Toronto C09 −34.3% down 34.3%
- Clarington −33.3% down 33.3%
- Toronto C03 −30.0% down 30.0%
- Uxbridge −29.3% down 29.3%
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
75.9%
prior month 59.3%
Months of inventory
1.6
All TRREB areas sits in a seller's market: 75.9% of new listings sold and 1.6 months of inventory on hand.
City of Toronto (416)
SNLR
59.4%
prior month 44.9%
Months of inventory
2.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 59.4% 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.
905 total
SNLR
89.0%
prior month 70.6%
Months of inventory
1.1
905 total sits in a seller's market: 89.0% of new listings sold and 1.1 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
$777,062
- Sales
- 596
- SNLR
- 43.1%
- MOI
- 4.3
Aggregated across 2 districts · View →
Midtown
$1,583,372
- Sales
- 321
- SNLR
- 55.7%
- MOI
- 2.9
Aggregated across 6 districts · View →
Scarborough
$788,565
- Sales
- 584
- SNLR
- 83.2%
- MOI
- 1.2
Aggregated across 8 districts · View →
York Region
$1,094,893
- Sales
- 1,613
- SNLR
- 79.3%
- MOI
- 1.7
Region total · View →
Durham Region
$762,739
- Sales
- 1,088
- SNLR
- 104.4%
- MOI
- 0.6
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.