Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,108,453
MoM +$17,461 +1.6% up $17,461, 1.6% versus April 2021 YoY +28.4% up 28.4% versus May 2020
Source: TRREB MarketWatch, May 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
May 2021
In May 2021 the average selling price across the Greater Toronto Area edged up 1.6% to $1,108,453 versus April 2021, and sales dropped 12.5% to 11,951.
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.
$945,000
MoM +$5,000 +0.5% up $5,000, 0.5% versus April 2021 YoY +25.2% up 25.2% versus May 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,045,800
MoM +$20,600 +2.0% up $20,600, 2.0% versus April 2021 YoY +18.8% up 18.8% versus May 2020
Sales — Firm transactions reported through the MLS® System during the month.
11,951
MoM −1,712 −12.5% down 1,712, 12.5% versus April 2021 YoY +159.5% up 159.5% versus May 2020
Dollar volume — Total value of all sales in the month.
$13.25B
MoM −$1,659,100,509 −11.1% down $1,659,100,509, 11.1% versus April 2021 YoY +233.0% up 233.0% versus May 2020
New listings — Properties newly listed during the month.
18,586
MoM −2,239 −10.8% down 2,239, 10.8% versus April 2021 YoY +104.2% up 104.2% versus May 2020
Active listings — Listings available at month end.
12,253
MoM +585 +5.0% up 585, 5.0% versus April 2021 YoY +7.0% up 7.0% versus May 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
11
MoM +1 day +10.0% up 1 day, 10.0% versus April 2021 YoY −54.2% down 54.2% versus May 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
15
MoM +1 day +7.1% up 1 day, 7.1% versus April 2021 YoY −53.1% down 53.1% versus May 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
106%
MoM no change no change versus April 2021 YoY +7.1% up 7.1% versus May 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
64.3%
MoM −1.3 pp −2.0% down 1.3 pp, 2.0% versus April 2021 YoY +27.1% up 27.1% versus May 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.
1.0
MoM +0 +20.1% up 0, 20.1% versus April 2021 YoY −58.7% down 58.7% versus May 2020
The month in 60 seconds
- Across all TRREB areas, sales dropped 12.5% to 11,951 versus April 2021.
- Across all TRREB areas, new listings dropped 10.8% to 18,586 versus April 2021.
- Across all TRREB areas, active listings rose 5.0% to 12,253 versus April 2021.
- Across all TRREB areas, the average selling price edged up 1.6% to $1,108,453 versus April 2021.
- Across all TRREB areas, the median selling price held steady at $945,000 versus April 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
5.7%
Q1 2021
Toronto employment growth
2.2%
April 2021
Toronto unemployment rate
9.5%
April 2021
Inflation (CPI, year-over-year)
3.4%
April 2021
Bank of Canada overnight rate
0.25%
May 2021
Prime rate
2.45%
May 2021
1-year mortgage rate
2.79%
May 2021
3-year mortgage rate
3.49%
May 2021
5-year mortgage rate
4.79%
May 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 5,718 | −798 −12.2% down 798, 12.2% versus April 2021 | $1,415,698 | +$28,069 +2.0% up $28,069, 2.0% versus April 2021 | +37.0% up 37.0% |
| Semi-detached | 1,233 | −71 −5.4% down 71, 5.4% versus April 2021 | $1,064,361 | −$4,562 −0.4% down $4,562, 0.4% versus April 2021 | +22.7% up 22.7% |
| Att/row/townhouse | 1,215 | −95 −7.3% down 95, 7.3% versus April 2021 | $949,983 | +$3,571 +0.4% up $3,571, 0.4% versus April 2021 | +27.8% up 27.8% |
| Condo townhouse | 967 | −156 −13.9% down 156, 13.9% versus April 2021 | $761,266 | +$7,323 +1.0% up $7,323, 1.0% versus April 2021 | +23.1% up 23.1% |
| Condo apartment | 2,710 | −580 −17.6% down 580, 17.6% versus April 2021 | $682,280 | −$9,511 −1.4% down $9,511, 1.4% versus April 2021 | +9.1% up 9.1% |
| Link | 82 | −11 −11.8% down 11, 11.8% versus April 2021 | $954,333 | −$14,198 −1.5% down $14,198, 1.5% versus April 2021 | +37.3% up 37.3% |
| Co-op apartment | 4 | −8 −66.7% down 8, 66.7% versus April 2021 | $889,975 | +$321,434 +56.5% up $321,434, 56.5% versus April 2021 | +263.3% up 263.3% |
| Detached condo | 15 | +7 +87.5% up 7, 87.5% versus April 2021 | $986,973 | +$102,035 +11.5% up $102,035, 11.5% versus April 2021 | +11.6% up 11.6% |
| Co-ownership apartment | 7 | no change no change versus April 2021 | $546,571 | −$40,488 −6.9% down $40,488, 6.9% versus April 2021 | +22.5% up 22.5% |
Average price by home type
13 months to May 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '21 | 1402849 | 1045519 | 951984 | 765521 | 676052 |
| Apr '21 | 1387629 | 1068923 | 946412 | 753943 | 691791 |
| May '21 | 1415698 | 1064361 | 949983 | 761266 | 682280 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- King +13.8% up 13.8%
- Uxbridge +13.7% up 13.7%
- Toronto C11 +13.7% up 13.7%
- Toronto C02 +13.4% up 13.4%
- Toronto C03 +12.2% up 12.2%
Bottom 5
- Toronto E06 −13.0% down 13.0%
- Toronto E02 −11.8% down 11.8%
- Toronto C13 −10.8% down 10.8%
- Brock −8.3% down 8.3%
- Toronto W07 −8.0% down 8.0%
Sales, month-over-month
Top 5
- Toronto C13 +18.6% up 18.6%
- Toronto C11 +17.2% up 17.2%
- Toronto E09 +9.8% up 9.8%
- Toronto E03 +8.1% up 8.1%
- Toronto E05 +6.7% up 6.7%
Bottom 5
- East Gwillimbury −32.2% down 32.2%
- Toronto C02 −29.8% down 29.8%
- Aurora −29.5% down 29.5%
- Uxbridge −29.4% down 29.4%
- Whitchurch-Stouffville −25.2% down 25.2%
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
64.3%
prior month 65.6%
Months of inventory
1.0
All TRREB areas sits in a seller's market: 64.3% of new listings sold and 1.0 months of inventory on hand.
City of Toronto (416)
SNLR
58.4%
prior month 62.8%
Months of inventory
1.3
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 58.4% sales-to-new-listings, but a seller's market at 1.3 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
67.9%
prior month 67.2%
Months of inventory
0.9
905 total sits in a seller's market: 67.9% 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
$888,339
- Sales
- 879
- SNLR
- 53.1%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,824,176
- Sales
- 463
- SNLR
- 53.3%
- MOI
- 1.6
Aggregated across 6 districts · View →
Scarborough
$893,539
- Sales
- 758
- SNLR
- 66.0%
- MOI
- 0.9
Aggregated across 8 districts · View →
York Region
$1,294,579
- Sales
- 2,192
- SNLR
- 63.3%
- MOI
- 1.2
Region total · View →
Durham Region
$902,135
- Sales
- 1,574
- SNLR
- 76.9%
- 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.