Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,045,488
MoM +$77,603 +8.0% up $77,603, 8.0% versus January 2021 YoY +14.9% up 14.9% versus February 2020
Source: TRREB MarketWatch, February 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2021
In February 2021 the average selling price across the Greater Toronto Area jumped 8.0% to $1,045,488 versus January 2021, and sales jumped 58.3% to 10,970.
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.
$912,000
MoM +$82,000 +9.9% up $82,000, 9.9% versus January 2021 YoY +16.9% up 16.9% versus February 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$969,600
MoM +$41,900 +4.5% up $41,900, 4.5% versus January 2021 YoY +14.8% up 14.8% versus February 2020
Sales — Firm transactions reported through the MLS® System during the month.
10,970
MoM +4,042 +58.3% up 4,042, 58.3% versus January 2021 YoY +51.2% up 51.2% versus February 2020
Dollar volume — Total value of all sales in the month.
$11.47B
MoM +$4,763,501,754 +71.0% up $4,763,501,754, 71.0% versus January 2021 YoY +73.6% up 73.6% versus February 2020
New listings — Properties newly listed during the month.
15,137
MoM +5,707 +60.5% up 5,707, 60.5% versus January 2021 YoY +42.6% up 42.6% versus February 2020
Active listings — Listings available at month end.
8,727
MoM +1,331 +18.0% up 1,331, 18.0% versus January 2021 YoY −1.0% down 1.0% versus February 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
14
MoM −10 days −41.7% down 10 days, 41.7% versus January 2021 YoY −17.6% down 17.6% versus February 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
19
MoM −14 days −42.4% down 14 days, 42.4% versus January 2021 YoY −17.4% down 17.4% versus February 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
107%
MoM +4.0 pp +3.9% up 4.0 pp, 3.9% versus January 2021 YoY +4.9% up 4.9% versus February 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
72.5%
MoM −1.0 pp −1.4% down 1.0 pp, 1.4% versus January 2021 YoY +6.0% up 6.0% versus February 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.
0.8
MoM −0 −25.5% down 0, 25.5% versus January 2021 YoY −34.5% down 34.5% versus February 2020
The month in 60 seconds
- Across all TRREB areas, new listings jumped 60.5% to 15,137 versus January 2021.
- Across all TRREB areas, sales jumped 58.3% to 10,970 versus January 2021.
- Across all TRREB areas, active listings jumped 18.0% to 8,727 versus January 2021.
- Across all TRREB areas, the median selling price jumped 9.9% to $912,000 versus January 2021.
- Across all TRREB areas, the average selling price jumped 8.0% to $1,045,488 versus January 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2020%
period not printed
Toronto employment growth
-4%
January 2021
Toronto unemployment rate
11.1%
January 2021
Inflation (CPI, year-over-year)
2020%
January 2020
Bank of Canada overnight rate
0.25%
February 2021
Prime rate
2.45%
February 2021
1-year mortgage rate
2.79%
February 2021
3-year mortgage rate
3.49%
February 2021
5-year mortgage rate
4.79%
February 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,943 | +2,177 +78.7% up 2,177, 78.7% versus January 2021 | $1,371,791 | +$11,876 +0.9% up $11,876, 0.9% versus January 2021 | +23.2% up 23.2% |
| Semi-detached | 977 | +471 +93.1% up 471, 93.1% versus January 2021 | $1,050,820 | +$54,026 +5.4% up $54,026, 5.4% versus January 2021 | +20.4% up 20.4% |
| Att/row/townhouse | 1,062 | +517 +94.9% up 517, 94.9% versus January 2021 | $941,037 | +$27,114 +3.0% up $27,114, 3.0% versus January 2021 | +21.3% up 21.3% |
| Condo townhouse | 779 | +200 +34.5% up 200, 34.5% versus January 2021 | $744,854 | +$45,141 +6.5% up $45,141, 6.5% versus January 2021 | +11.0% up 11.0% |
| Condo apartment | 3,116 | +645 +26.1% up 645, 26.1% versus January 2021 | $642,346 | +$41,516 +6.9% up $41,516, 6.9% versus January 2021 | −3.6% down 3.6% |
| Link | 62 | +20 +47.6% up 20, 47.6% versus January 2021 | $980,968 | +$29,917 +3.1% up $29,917, 3.1% versus January 2021 | +24.0% up 24.0% |
| Co-op apartment | 18 | +13 +260.0% up 13, 260.0% versus January 2021 | $565,049 | −$251,851 −30.8% down $251,851, 30.8% versus January 2021 | +9.4% up 9.4% |
| Detached condo | 8 | +2 +33.3% up 2, 33.3% versus January 2021 | $948,746 | +$252,579 +36.3% up $252,579, 36.3% versus January 2021 | +27.3% up 27.3% |
| Co-ownership apartment | 5 | −3 −37.5% down 3, 37.5% versus January 2021 | $367,400 | −$73,038 −16.6% down $73,038, 16.6% versus January 2021 | −12.3% down 12.3% |
Average price by home type
13 months to February 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Feb '21 | 1371791 | 1050820 | 941037 | 744854 | 642346 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C11 +73.4% up 73.4%
- Toronto C02 +51.3% up 51.3%
- Toronto C04 +44.3% up 44.3%
- Toronto W07 +33.0% up 33.0%
- Toronto C10 +23.5% up 23.5%
Bottom 5
- Uxbridge −15.1% down 15.1%
- Toronto C12 −12.1% down 12.1%
- Brock −10.3% down 10.3%
- Toronto C06 −8.2% down 8.2%
- Toronto E06 −5.5% down 5.5%
Sales, month-over-month
Top 5
- Toronto C12 +236.4% up 236.4%
- Whitby +157.8% up 157.8%
- Toronto E01 +133.3% up 133.3%
- Clarington +133.0% up 133.0%
- Scugog +125.0% up 125.0%
Bottom 5
- Brock −16.7% down 16.7%
- Toronto C06 −15.2% down 15.2%
- Toronto W09 −4.9% down 4.9%
- Toronto C11 −3.0% down 3.0%
- Toronto E09 +3.0% up 3.0%
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
72.5%
prior month 73.5%
Months of inventory
0.8
All TRREB areas sits in a seller's market: 72.5% of new listings sold and 0.8 months of inventory on hand.
City of Toronto (416)
SNLR
79.5%
prior month 75.1%
Months of inventory
0.9
City of Toronto (416) sits in a seller's market: 79.5% of new listings sold and 0.9 months of inventory on hand.
905 total
SNLR
69.3%
prior month 72.5%
Months of inventory
0.7
905 total sits in a seller's market: 69.3% of new listings sold and 0.7 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
$781,617
- Sales
- 994
- SNLR
- 87.9%
- MOI
- 1.0
Aggregated across 2 districts · View →
Midtown
$1,586,513
- Sales
- 384
- SNLR
- 71.5%
- MOI
- 1.3
Aggregated across 6 districts · View →
Scarborough
$850,586
- Sales
- 580
- SNLR
- 73.9%
- MOI
- 0.7
Aggregated across 8 districts · View →
York Region
$1,206,235
- Sales
- 2,023
- SNLR
- 68.0%
- MOI
- 1.0
Region total · View →
Durham Region
$895,441
- Sales
- 1,384
- SNLR
- 70.1%
- 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.