Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$932,222
MoM −$23,393 −2.4% down $23,393, 2.4% versus November 2020 YoY +11.3% up 11.3% versus December 2019
Source: TRREB MarketWatch, December 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
December 2020
In December 2020 the average selling price across the Greater Toronto Area edged down 2.4% to $932,222 versus November 2020, and sales dropped 18.1% to 7,180, though a December slowdown is the seasonal norm.
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.
$800,001
MoM −$29,999 −3.6% down $29,999, 3.6% versus November 2020 YoY +11.0% up 11.0% versus December 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$909,500
MoM +$7,000 +0.8% up $7,000, 0.8% versus November 2020 YoY +11.1% up 11.1% versus December 2019
Sales — Firm transactions reported through the MLS® System during the month.
7,180
MoM −1,586 −18.1% down 1,586, 18.1% versus November 2020 YoY +63.2% up 63.2% versus December 2019
Dollar volume — Total value of all sales in the month.
$6.69B
MoM −$1,683,563,588 −20.1% down $1,683,563,588, 20.1% versus November 2020 YoY +81.6% up 81.6% versus December 2019
New listings — Properties newly listed during the month.
5,865
MoM −5,680 −49.2% down 5,680, 49.2% versus November 2020 YoY +66.1% up 66.1% versus December 2019
Active listings — Listings available at month end.
7,892
MoM −5,906 −42.8% down 5,906, 42.8% versus November 2020 YoY +6.6% up 6.6% versus December 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 November 2020 YoY n/a not available, prior month not on file versus December 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
35
MoM +7 days +25.0% up 7 days, 25.0% versus November 2020 YoY n/a not available, prior month not on file versus December 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 November 2020 YoY +3.1% up 3.1% versus December 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
122.4%
MoM +46.5 pp +61.2% up 46.5 pp, 61.2% versus November 2020 YoY −1.7% down 1.7% versus December 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.
1.1
MoM −0 −30.2% down 0, 30.2% versus November 2020 YoY −34.7% down 34.7% versus December 2019
The month in 60 seconds
- Across all TRREB areas, new listings dropped 49.2% to 5,865 versus November 2020.
- Across all TRREB areas, active listings dropped 42.8% to 7,892 versus November 2020.
- Across all TRREB areas, sales dropped 18.1% to 7,180 versus November 2020.
- Across all TRREB areas, the median selling price fell 3.6% to $800,001 versus November 2020.
- Across all TRREB areas, the average selling price edged down 2.4% to $932,222 versus November 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
-2.2%
November 2020
Toronto unemployment rate
10.7%
November 2020
Inflation (CPI, year-over-year)
1%
November 2020
Bank of Canada overnight rate
0.25%
December 2020
Prime rate
2.45%
December 2020
1-year mortgage rate
3.09%
December 2020
3-year mortgage rate
3.49%
December 2020
5-year mortgage rate
4.79%
December 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,038 | −1,184 −28.0% down 1,184, 28.0% versus November 2020 | $1,240,632 | +$38,351 +3.2% up $38,351, 3.2% versus November 2020 | +17.9% up 17.9% |
| Semi-detached | 591 | −297 −33.4% down 297, 33.4% versus November 2020 | $939,660 | −$7,075 −0.7% down $7,075, 0.7% versus November 2020 | +16.7% up 16.7% |
| Att/row/townhouse | 630 | −183 −22.5% down 183, 22.5% versus November 2020 | $871,210 | +$38,096 +4.6% up $38,096, 4.6% versus November 2020 | +18.3% up 18.3% |
| Condo townhouse | 652 | −62 −8.7% down 62, 8.7% versus November 2020 | $669,204 | +$11,834 +1.8% up $11,834, 1.8% versus November 2020 | +12.1% up 12.1% |
| Condo apartment | 2,193 | +161 +7.9% up 161, 7.9% versus November 2020 | $600,840 | −$5,023 −0.8% down $5,023, 0.8% versus November 2020 | −1.9% down 1.9% |
| Link | 63 | −14 −18.2% down 14, 18.2% versus November 2020 | $924,721 | +$12,044 +1.3% up $12,044, 1.3% versus November 2020 | +36.0% up 36.0% |
| Co-op apartment | 3 | −14 −82.4% down 14, 82.4% versus November 2020 | $501,633 | −$101,611 −16.8% down $101,611, 16.8% versus November 2020 | −24.2% down 24.2% |
| Detached condo | 6 | +3 +100.0% up 3, 100.0% versus November 2020 | $726,667 | +$106,700 +17.2% up $106,700, 17.2% versus November 2020 | +1.8% up 1.8% |
| Co-ownership apartment | 4 | +4 up 4 versus November 2020 | $506,875 | +$506,875 up $506,875 versus November 2020 | +47.6% up 47.6% |
Average price by home type
13 months to December 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Dec '20 | 1240632 | 939660 | 871210 | 669204 | 600840 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Caledon +19.9% up 19.9%
- Toronto E06 +12.5% up 12.5%
- King +8.4% up 8.4%
- Toronto W01 +7.7% up 7.7%
- Toronto E07 +5.8% up 5.8%
Bottom 5
- Toronto C09 −51.0% down 51.0%
- Toronto W07 −21.6% down 21.6%
- Toronto C13 −18.0% down 18.0%
- Toronto C11 −16.9% down 16.9%
- Toronto C06 −12.2% down 12.2%
Sales, month-over-month
Top 5
- Toronto C08 +29.2% up 29.2%
- Toronto C07 +17.2% up 17.2%
- Toronto C14 +15.6% up 15.6%
- Toronto W07 +15.0% up 15.0%
- Toronto C01 +11.0% up 11.0%
Bottom 5
- Toronto W02 −53.1% down 53.1%
- Uxbridge −48.3% down 48.3%
- Toronto C09 −47.8% down 47.8%
- Scugog −45.0% down 45.0%
- Toronto E02 −44.2% down 44.2%
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
122.4%
prior month 75.9%
Months of inventory
1.1
All TRREB areas sits in a seller's market: 122.4% of new listings sold and 1.1 months of inventory on hand.
City of Toronto (416)
SNLR
118.9%
prior month 59.4%
Months of inventory
1.6
City of Toronto (416) sits in a seller's market: 118.9% of new listings sold and 1.6 months of inventory on hand.
905 total
SNLR
124.6%
prior month 89.0%
Months of inventory
0.8
905 total sits in a seller's market: 124.6% of new listings sold and 0.8 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
$742,696
- Sales
- 694
- SNLR
- 117.2%
- MOI
- 2.2
Aggregated across 2 districts · View →
Midtown
$1,404,974
- Sales
- 237
- SNLR
- 91.9%
- MOI
- 2.5
Aggregated across 6 districts · View →
Scarborough
$786,659
- Sales
- 501
- SNLR
- 128.8%
- MOI
- 0.7
Aggregated across 8 districts · View →
York Region
$1,084,945
- Sales
- 1,366
- SNLR
- 128.3%
- MOI
- 1.2
Region total · View →
Durham Region
$778,037
- Sales
- 773
- SNLR
- 123.9%
- MOI
- 0.4
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.