Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,062,256
MoM −$27,280 −2.5% down $27,280, 2.5% versus June 2021 YoY +12.6% up 12.6% versus July 2020
Source: TRREB MarketWatch, July 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
July 2021
In July 2021 the average selling price across the Greater Toronto Area edged down 2.5% to $1,062,256 versus June 2021, and sales dropped 15.5% to 9,390, though a summer 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.
$911,500
MoM −$23,500 −2.5% down $23,500, 2.5% versus June 2021 YoY +12.5% up 12.5% versus July 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,054,300
MoM +$4,000 +0.4% up $4,000, 0.4% versus June 2021 YoY +18.1% up 18.1% versus July 2020
Sales — Firm transactions reported through the MLS® System during the month.
9,390
MoM −1,716 −15.5% down 1,716, 15.5% versus June 2021 YoY −15.3% down 15.3% versus July 2020
Dollar volume — Total value of all sales in the month.
$9.97B
MoM −$2,125,801,782 −17.6% down $2,125,801,782, 17.6% versus June 2021 YoY −4.6% down 4.6% versus July 2020
New listings — Properties newly listed during the month.
12,551
MoM −3,638 −22.5% down 3,638, 22.5% versus June 2021 YoY −30.1% down 30.1% versus July 2020
Active listings — Listings available at month end.
9,732
MoM −1,565 −13.9% down 1,565, 13.9% versus June 2021 YoY −35.2% down 35.2% versus July 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
15
MoM +2 days +15.4% up 2 days, 15.4% versus June 2021 YoY −11.8% down 11.8% versus July 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
20
MoM +3 days +17.6% up 3 days, 17.6% versus June 2021 YoY −20.0% down 20.0% versus July 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
104%
MoM −1.0 pp −1.0% down 1.0 pp, 1.0% versus June 2021 YoY +3.0% up 3.0% versus July 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
74.8%
MoM +6.2 pp +9.1% up 6.2 pp, 9.1% versus June 2021 YoY +21.2% up 21.2% versus July 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 +1.9% up 0, 1.9% versus June 2021 YoY −23.5% down 23.5% versus July 2020
The month in 60 seconds
- Across all TRREB areas, new listings dropped 22.5% to 12,551 versus June 2021.
- Across all TRREB areas, sales dropped 15.5% to 9,390 versus June 2021.
- Across all TRREB areas, active listings dropped 13.9% to 9,732 versus June 2021.
- Across all TRREB areas, the median selling price edged down 2.5% to $911,500 versus June 2021.
- Across all TRREB areas, the average selling price edged down 2.5% to $1,062,256 versus June 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
11.8%
June 2021
Toronto unemployment rate
9.6%
May 2021
Inflation (CPI, year-over-year)
3.1%
June 2021
Bank of Canada overnight rate
0.25%
July 2021
Prime rate
2.45%
July 2021
1-year mortgage rate
2.79%
July 2021
3-year mortgage rate
3.49%
July 2021
5-year mortgage rate
4.79%
July 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,121 | −1,048 −20.3% down 1,048, 20.3% versus June 2021 | $1,405,478 | −$2,062 −0.1% down $2,062, 0.1% versus June 2021 | +21.8% up 21.8% |
| Semi-detached | 868 | −188 −17.8% down 188, 17.8% versus June 2021 | $1,027,895 | −$27,745 −2.6% down $27,745, 2.6% versus June 2021 | +12.3% up 12.3% |
| Att/row/townhouse | 853 | −226 −20.9% down 226, 20.9% versus June 2021 | $950,038 | +$4,826 +0.5% up $4,826, 0.5% versus June 2021 | +19.5% up 19.5% |
| Condo townhouse | 841 | −51 −5.7% down 51, 5.7% versus June 2021 | $748,433 | −$7,189 −1.0% down $7,189, 1.0% versus June 2021 | +15.6% up 15.6% |
| Condo apartment | 2,614 | −186 −6.6% down 186, 6.6% versus June 2021 | $674,490 | −$8,989 −1.3% down $8,989, 1.3% versus June 2021 | +6.1% up 6.1% |
| Link | 71 | −11 −13.4% down 11, 13.4% versus June 2021 | $1,011,485 | +$2,009 +0.2% up $2,009, 0.2% versus June 2021 | +27.3% up 27.3% |
| Co-op apartment | 6 | −7 −53.8% down 7, 53.8% versus June 2021 | $540,983 | −$73,394 −11.9% down $73,394, 11.9% versus June 2021 | +35.0% up 35.0% |
| Detached condo | 12 | −2 −14.3% down 2, 14.3% versus June 2021 | $860,750 | +$53,136 +6.6% up $53,136, 6.6% versus June 2021 | +25.4% up 25.4% |
| Co-ownership apartment | 4 | +3 +300.0% up 3, 300.0% versus June 2021 | $519,250 | +$169,250 +48.4% up $169,250, 48.4% versus June 2021 | +1.2% up 1.2% |
Average price by home type
13 months to July 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jun '21 | 1407540 | 1055640 | 945212 | 755622 | 683479 |
| Jul '21 | 1405478 | 1027895 | 950038 | 748433 | 674490 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W09 +10.5% up 10.5%
- Toronto E11 +9.3% up 9.3%
- Georgina +9.0% up 9.0%
- Toronto E04 +8.7% up 8.7%
- Toronto W10 +7.5% up 7.5%
Bottom 5
- Toronto C11 −27.6% down 27.6%
- Toronto W08 −15.8% down 15.8%
- Toronto C15 −14.6% down 14.6%
- Toronto C09 −14.6% down 14.6%
- Toronto C10 −14.1% down 14.1%
Sales, month-over-month
Top 5
- Toronto W09 +51.3% up 51.3%
- Toronto C12 +50.0% up 50.0%
- Toronto E10 +12.7% up 12.7%
- King +11.6% up 11.6%
- Toronto C06 +8.6% up 8.6%
Bottom 5
- Toronto C11 −40.3% down 40.3%
- Toronto C03 −38.2% down 38.2%
- Toronto E08 −37.0% down 37.0%
- Georgina −36.9% down 36.9%
- Oshawa −36.1% down 36.1%
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
74.8%
prior month 68.6%
Months of inventory
1.0
All TRREB areas sits in a seller's market: 74.8% of new listings sold and 1.0 months of inventory on hand.
City of Toronto (416)
SNLR
64.0%
prior month 60.3%
Months of inventory
1.4
City of Toronto (416) sits in a seller's market: 64.0% of new listings sold and 1.4 months of inventory on hand.
905 total
SNLR
82.2%
prior month 74.0%
Months of inventory
0.8
905 total sits in a seller's market: 82.2% 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
$809,897
- Sales
- 777
- SNLR
- 59.8%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,550,534
- Sales
- 331
- SNLR
- 58.7%
- MOI
- 2.0
Aggregated across 6 districts · View →
Scarborough
$879,963
- Sales
- 602
- SNLR
- 75.0%
- MOI
- 0.9
Aggregated across 8 districts · View →
York Region
$1,271,831
- Sales
- 1,767
- SNLR
- 79.5%
- MOI
- 1.1
Region total · View →
Durham Region
$910,197
- Sales
- 1,104
- SNLR
- 86.3%
- MOI
- 0.5
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.