Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$967,885
MoM +$35,663 +3.8% up $35,663, 3.8% versus December 2020 YoY +15.3% up 15.3% versus January 2020
Source: TRREB MarketWatch, January 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
January 2021
In January 2021 the average selling price across the Greater Toronto Area rose 3.8% to $967,885 versus December 2020, and sales fell 3.5% to 6,928, though a quieter January after the December holidays 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.
$830,000
MoM +$29,999 +3.7% up $29,999, 3.7% versus December 2020 YoY +12.9% up 12.9% versus January 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$927,700
MoM +$18,200 +2.0% up $18,200, 2.0% versus December 2020 YoY +11.9% up 11.9% versus January 2020
Sales — Firm transactions reported through the MLS® System during the month.
6,928
MoM −252 −3.5% down 252, 3.5% versus December 2020 YoY +51.2% up 51.2% versus January 2020
Dollar volume — Total value of all sales in the month.
$6.71B
MoM +$12,149,360 +0.2% up $12,149,360, 0.2% versus December 2020 YoY +74.4% up 74.4% versus January 2020
New listings — Properties newly listed during the month.
9,430
MoM +3,565 +60.8% up 3,565, 60.8% versus December 2020 YoY +20.3% up 20.3% versus January 2020
Active listings — Listings available at month end.
7,396
MoM −496 −6.3% down 496, 6.3% versus December 2020 YoY −4.8% down 4.8% versus January 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
24
MoM no change no change versus December 2020 YoY −11.1% down 11.1% versus January 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
33
MoM −2 days −5.7% down 2 days, 5.7% versus December 2020 YoY −10.8% down 10.8% versus January 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
103%
MoM +2.0 pp +2.0% up 2.0 pp, 2.0% versus December 2020 YoY +3.0% up 3.0% versus January 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
73.5%
MoM −49.0 pp −40.0% down 49.0 pp, 40.0% versus December 2020 YoY +25.7% up 25.7% versus January 2020
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 −2.9% down 0, 2.9% versus December 2020 YoY −37.1% down 37.1% versus January 2020
The month in 60 seconds
- Across all TRREB areas, new listings jumped 60.8% to 9,430 versus December 2020.
- Across all TRREB areas, active listings fell 6.3% to 7,396 versus December 2020.
- Across all TRREB areas, the average selling price rose 3.8% to $967,885 versus December 2020.
- Across all TRREB areas, the median selling price rose 3.7% to $830,000 versus December 2020.
- Across all TRREB areas, sales fell 3.5% to 6,928 versus December 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
-2.3%
December 2020
Toronto unemployment rate
10.7%
December 2020
Inflation (CPI, year-over-year)
0.7%
December 2020
Bank of Canada overnight rate
0.25%
January 2021
Prime rate
2.45%
January 2021
1-year mortgage rate
2.79%
January 2021
3-year mortgage rate
3.49%
January 2021
5-year mortgage rate
4.79%
January 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,766 | −272 −9.0% down 272, 9.0% versus December 2020 | $1,359,915 | +$119,283 +9.6% up $119,283, 9.6% versus December 2020 | +31.0% up 31.0% |
| Semi-detached | 506 | −85 −14.4% down 85, 14.4% versus December 2020 | $996,794 | +$57,134 +6.1% up $57,134, 6.1% versus December 2020 | +25.8% up 25.8% |
| Att/row/townhouse | 545 | −85 −13.5% down 85, 13.5% versus December 2020 | $913,923 | +$42,713 +4.9% up $42,713, 4.9% versus December 2020 | +20.9% up 20.9% |
| Condo townhouse | 579 | −73 −11.2% down 73, 11.2% versus December 2020 | $699,713 | +$30,509 +4.6% up $30,509, 4.6% versus December 2020 | +12.4% up 12.4% |
| Condo apartment | 2,471 | +278 +12.7% up 278, 12.7% versus December 2020 | $600,830 | −$10 −0.0% down $10, 0.0% versus December 2020 | −4.6% down 4.6% |
| Link | 42 | −21 −33.3% down 21, 33.3% versus December 2020 | $951,051 | +$26,330 +2.8% up $26,330, 2.8% versus December 2020 | +16.6% up 16.6% |
| Co-op apartment | 5 | +2 +66.7% up 2, 66.7% versus December 2020 | $816,900 | +$315,267 +62.8% up $315,267, 62.8% versus December 2020 | +44.9% up 44.9% |
| Detached condo | 6 | no change no change versus December 2020 | $696,167 | −$30,500 −4.2% down $30,500, 4.2% versus December 2020 | +4.4% up 4.4% |
| Co-ownership apartment | 8 | +4 +100.0% up 4, 100.0% versus December 2020 | $440,438 | −$66,437 −13.1% down $66,437, 13.1% versus December 2020 | −2.1% down 2.1% |
Average price by home type
13 months to January 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jan '21 | 1359915 | 996794 | 913923 | 699713 | 600830 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C13 +47.8% up 47.8%
- Toronto C09 +45.4% up 45.4%
- Uxbridge +26.6% up 26.6%
- Toronto C12 +26.4% up 26.4%
- King +23.7% up 23.7%
Bottom 5
- Toronto C02 −31.6% down 31.6%
- Toronto C11 −19.5% down 19.5%
- Toronto C03 −19.4% down 19.4%
- Toronto C04 −18.7% down 18.7%
- Toronto C10 −15.5% down 15.5%
Sales, month-over-month
Top 5
- Toronto C09 +91.7% up 91.7%
- Toronto C10 +44.2% up 44.2%
- Uxbridge +40.0% up 40.0%
- Toronto W05 +30.3% up 30.3%
- Toronto C04 +23.3% up 23.3%
Bottom 5
- Toronto C12 −52.2% down 52.2%
- Toronto E01 −45.8% down 45.8%
- Scugog −45.5% down 45.5%
- Toronto W07 −43.5% down 43.5%
- Toronto E06 −39.5% down 39.5%
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
73.5%
prior month 122.4%
Months of inventory
1.1
All TRREB areas sits in a seller's market: 73.5% of new listings sold and 1.1 months of inventory on hand.
City of Toronto (416)
SNLR
75.1%
prior month 118.9%
Months of inventory
1.3
City of Toronto (416) sits in a seller's market: 75.1% of new listings sold and 1.3 months of inventory on hand.
905 total
SNLR
72.5%
prior month 124.6%
Months of inventory
0.9
905 total sits in a seller's market: 72.5% of new listings sold and 0.9 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
$709,627
- Sales
- 736
- SNLR
- 73.9%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,160,913
- Sales
- 268
- SNLR
- 65.2%
- MOI
- 1.8
Aggregated across 6 districts · View →
Scarborough
$769,475
- Sales
- 425
- SNLR
- 84.5%
- MOI
- 0.8
Aggregated across 8 districts · View →
York Region
$1,168,623
- Sales
- 1,288
- SNLR
- 69.5%
- MOI
- 1.2
Region total · View →
Durham Region
$876,133
- Sales
- 651
- SNLR
- 68.9%
- 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.