Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,070,911
MoM +$8,655 +0.8% up $8,655, 0.8% versus July 2021 YoY +12.6% up 12.6% versus August 2020
Source: TRREB MarketWatch, August 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
August 2021
In August 2021 the average selling price across the Greater Toronto Area held steady at $1,070,911 versus July 2021, and sales dropped 8.5% to 8,596, 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.
$925,000
MoM +$13,500 +1.5% up $13,500, 1.5% versus July 2021 YoY +12.7% up 12.7% versus August 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,059,200
MoM +$4,900 +0.5% up $4,900, 0.5% versus July 2021 YoY +17.4% up 17.4% versus August 2020
Sales — Firm transactions reported through the MLS® System during the month.
8,596
MoM −794 −8.5% down 794, 8.5% versus July 2021 YoY −20.2% down 20.2% versus August 2020
Dollar volume — Total value of all sales in the month.
$9.21B
MoM −$769,035,353 −7.7% down $769,035,353, 7.7% versus July 2021 YoY −10.2% down 10.2% versus August 2020
New listings — Properties newly listed during the month.
10,609
MoM −1,942 −15.5% down 1,942, 15.5% versus July 2021 YoY −42.6% down 42.6% versus August 2020
Active listings — Listings available at month end.
8,201
MoM −1,531 −15.7% down 1,531, 15.7% versus July 2021 YoY −50.8% down 50.8% versus August 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
16
MoM +1 day +6.7% up 1 day, 6.7% versus July 2021 YoY −5.9% down 5.9% versus August 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
21
MoM +1 day +5.0% up 1 day, 5.0% versus July 2021 YoY −12.5% down 12.5% versus August 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
105%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus July 2021 YoY +4.0% up 4.0% versus August 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
81.0%
MoM +6.2 pp +8.3% up 6.2 pp, 8.3% versus July 2021 YoY +39.0% up 39.0% versus August 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.
0.9
MoM −0 −7.9% down 0, 7.9% versus July 2021 YoY −38.3% down 38.3% versus August 2020
The month in 60 seconds
- Across all TRREB areas, active listings dropped 15.7% to 8,201 versus July 2021.
- Across all TRREB areas, new listings dropped 15.5% to 10,609 versus July 2021.
- Across all TRREB areas, sales dropped 8.5% to 8,596 versus July 2021.
- Across all TRREB areas, the median selling price edged up 1.5% to $925,000 versus July 2021.
- Across all TRREB areas, the average sale-to-list ratio held steady at 105.0% versus July 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%
July 2021
Toronto unemployment rate
9.8%
July 2021
Inflation (CPI, year-over-year)
3.7%
July 2021
Bank of Canada overnight rate
0.25%
August 2021
Prime rate
2.45%
August 2021
1-year mortgage rate
2.79%
August 2021
3-year mortgage rate
3.49%
August 2021
5-year mortgage rate
4.79%
August 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,704 | −417 −10.1% down 417, 10.1% versus July 2021 | $1,423,807 | +$18,329 +1.3% up $18,329, 1.3% versus July 2021 | +21.4% up 21.4% |
| Semi-detached | 750 | −118 −13.6% down 118, 13.6% versus July 2021 | $1,031,580 | +$3,685 +0.4% up $3,685, 0.4% versus July 2021 | +13.9% up 13.9% |
| Att/row/townhouse | 776 | −77 −9.0% down 77, 9.0% versus July 2021 | $977,127 | +$27,089 +2.9% up $27,089, 2.9% versus July 2021 | +21.2% up 21.2% |
| Condo townhouse | 733 | −108 −12.8% down 108, 12.8% versus July 2021 | $764,742 | +$16,309 +2.2% up $16,309, 2.2% versus July 2021 | +15.8% up 15.8% |
| Condo apartment | 2,544 | −70 −2.7% down 70, 2.7% versus July 2021 | $688,568 | +$14,078 +2.1% up $14,078, 2.1% versus July 2021 | +9.4% up 9.4% |
| Link | 71 | no change no change versus July 2021 | $1,039,011 | +$27,526 +2.7% up $27,526, 2.7% versus July 2021 | +37.8% up 37.8% |
| Co-op apartment | 9 | +3 +50.0% up 3, 50.0% versus July 2021 | $762,311 | +$221,328 +40.9% up $221,328, 40.9% versus July 2021 | +23.4% up 23.4% |
| Detached condo | 8 | −4 −33.3% down 4, 33.3% versus July 2021 | $799,713 | −$61,037 −7.1% down $61,037, 7.1% versus July 2021 | +20.7% up 20.7% |
| Co-ownership apartment | 1 | −3 −75.0% down 3, 75.0% versus July 2021 | $535,000 | +$15,750 +3.0% up $15,750, 3.0% versus July 2021 | −3.6% down 3.6% |
Average price by home type
13 months to August 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Aug '21 | 1423807 | 1031580 | 977127 | 764742 | 688568 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +32.3% up 32.3%
- Brock +31.9% up 31.9%
- Toronto C09 +25.4% up 25.4%
- Toronto E02 +12.5% up 12.5%
- King +7.7% up 7.7%
Bottom 5
- Toronto W09 −23.5% down 23.5%
- Toronto W01 −16.8% down 16.8%
- Toronto W02 −12.6% down 12.6%
- Toronto E06 −12.2% down 12.2%
- Toronto C03 −10.7% down 10.7%
Sales, month-over-month
Top 5
- Toronto W10 +27.0% up 27.0%
- Toronto C13 +22.4% up 22.4%
- Georgina +16.9% up 16.9%
- Toronto W07 +15.0% up 15.0%
- Toronto E05 +13.9% up 13.9%
Bottom 5
- Toronto C12 −44.4% down 44.4%
- Toronto W09 −39.0% down 39.0%
- Scugog −38.9% down 38.9%
- Toronto C04 −36.4% down 36.4%
- Toronto W02 −35.2% down 35.2%
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
81.0%
prior month 74.8%
Months of inventory
0.9
All TRREB areas sits in a seller's market: 81.0% of new listings sold and 0.9 months of inventory on hand.
City of Toronto (416)
SNLR
71.4%
prior month 64.0%
Months of inventory
1.4
City of Toronto (416) sits in a seller's market: 71.4% of new listings sold and 1.4 months of inventory on hand.
905 total
SNLR
87.4%
prior month 82.2%
Months of inventory
0.7
905 total sits in a seller's market: 87.4% 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
$854,239
- Sales
- 755
- SNLR
- 71.8%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,555,614
- Sales
- 266
- SNLR
- 60.9%
- MOI
- 2.2
Aggregated across 6 districts · View →
Scarborough
$870,401
- Sales
- 571
- SNLR
- 79.0%
- MOI
- 0.8
Aggregated across 8 districts · View →
York Region
$1,290,651
- Sales
- 1,620
- SNLR
- 82.4%
- MOI
- 1.0
Region total · View →
Durham Region
$918,133
- Sales
- 1,048
- SNLR
- 89.8%
- 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.