Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,136,280
MoM +$65,369 +6.1% up $65,369, 6.1% versus August 2021 YoY +18.3% up 18.3% versus September 2020
Source: TRREB MarketWatch, September 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
September 2021
In September 2021 the average selling price across the Greater Toronto Area rose 6.1% to $1,136,280 versus August 2021, and sales rose 5.2% to 9,046.
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.
$970,000
MoM +$45,000 +4.9% up $45,000, 4.9% versus August 2021 YoY +16.8% up 16.8% versus September 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,082,400
MoM +$23,200 +2.2% up $23,200, 2.2% versus August 2021 YoY +19.1% up 19.1% versus September 2020
Sales — Firm transactions reported through the MLS® System during the month.
9,046
MoM +450 +5.2% up 450, 5.2% versus August 2021 YoY −18.4% down 18.4% versus September 2020
Dollar volume — Total value of all sales in the month.
$10.28B
MoM +$1,073,234,732 +11.7% up $1,073,234,732, 11.7% versus August 2021 YoY −3.5% down 3.5% versus September 2020
New listings — Properties newly listed during the month.
13,483
MoM +2,874 +27.1% up 2,874, 27.1% versus August 2021 YoY −34.0% down 34.0% versus September 2020
Active listings — Listings available at month end.
9,191
MoM +990 +12.1% up 990, 12.1% versus August 2021 YoY −49.4% down 49.4% versus September 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
14
MoM −2 days −12.5% down 2 days, 12.5% versus August 2021 YoY −12.5% down 12.5% versus September 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
19
MoM −2 days −9.5% down 2 days, 9.5% versus August 2021 YoY −13.6% down 13.6% versus September 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
106%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus August 2021 YoY +5.0% up 5.0% versus September 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
67.1%
MoM −13.9 pp −17.2% down 13.9 pp, 17.2% versus August 2021 YoY +23.6% up 23.6% versus September 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 +6.5% up 0, 6.5% versus August 2021 YoY −38.0% down 38.0% versus September 2020
The month in 60 seconds
- Across all TRREB areas, new listings jumped 27.1% to 13,483 versus August 2021.
- Across all TRREB areas, active listings jumped 12.1% to 9,191 versus August 2021.
- Across all TRREB areas, the average selling price rose 6.1% to $1,136,280 versus August 2021.
- Across all TRREB areas, sales rose 5.2% to 9,046 versus August 2021.
- Across all TRREB areas, the median selling price rose 4.9% to $970,000 versus August 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
-1.2%
Q2 2021
Toronto employment growth
9.1%
August 2021
Toronto unemployment rate
9.3%
August 2021
Inflation (CPI, year-over-year)
4.1%
August 2021
Bank of Canada overnight rate
0.25%
September 2021
Prime rate
2.45%
September 2021
1-year mortgage rate
2.79%
September 2021
3-year mortgage rate
3.49%
September 2021
5-year mortgage rate
4.79%
September 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,908 | +204 +5.5% up 204, 5.5% versus August 2021 | $1,526,465 | +$102,658 +7.2% up $102,658, 7.2% versus August 2021 | +28.8% up 28.8% |
| Semi-detached | 824 | +74 +9.9% up 74, 9.9% versus August 2021 | $1,114,696 | +$83,116 +8.1% up $83,116, 8.1% versus August 2021 | +20.9% up 20.9% |
| Att/row/townhouse | 821 | +45 +5.8% up 45, 5.8% versus August 2021 | $1,016,269 | +$39,142 +4.0% up $39,142, 4.0% versus August 2021 | +23.6% up 23.6% |
| Condo townhouse | 737 | +4 +0.5% up 4, 0.5% versus August 2021 | $789,983 | +$25,241 +3.3% up $25,241, 3.3% versus August 2021 | +20.2% up 20.2% |
| Condo apartment | 2,664 | +120 +4.7% up 120, 4.7% versus August 2021 | $708,521 | +$19,953 +2.9% up $19,953, 2.9% versus August 2021 | +11.6% up 11.6% |
| Link | 68 | −3 −4.2% down 3, 4.2% versus August 2021 | $1,092,283 | +$53,272 +5.1% up $53,272, 5.1% versus August 2021 | +35.1% up 35.1% |
| Co-op apartment | 8 | −1 −11.1% down 1, 11.1% versus August 2021 | $419,875 | −$342,436 −44.9% down $342,436, 44.9% versus August 2021 | −2.9% down 2.9% |
| Detached condo | 11 | +3 +37.5% up 3, 37.5% versus August 2021 | $940,182 | +$140,469 +17.6% up $140,469, 17.6% versus August 2021 | +35.9% up 35.9% |
| Co-ownership apartment | 5 | +4 +400.0% up 4, 400.0% versus August 2021 | $560,800 | +$25,800 +4.8% up $25,800, 4.8% versus August 2021 | +56.8% up 56.8% |
Average price by home type
13 months to September 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Sep '21 | 1526465 | 1114696 | 1016269 | 789983 | 708521 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +102.4% up 102.4%
- Toronto W02 +36.6% up 36.6%
- Toronto C03 +21.4% up 21.4%
- Aurora +19.5% up 19.5%
- King +18.0% up 18.0%
Bottom 5
- Toronto C06 −18.0% down 18.0%
- Toronto W07 −15.5% down 15.5%
- Brock −11.5% down 11.5%
- Toronto C09 −9.4% down 9.4%
- Uxbridge −6.0% down 6.0%
Sales, month-over-month
Top 5
- Toronto C03 +94.1% up 94.1%
- Toronto E08 +72.7% up 72.7%
- Toronto E01 +70.8% up 70.8%
- Toronto C02 +66.1% up 66.1%
- Toronto E06 +64.0% up 64.0%
Bottom 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
67.1%
prior month 81.0%
Months of inventory
1.0
All TRREB areas sits in a seller's market: 67.1% of new listings sold and 1.0 months of inventory on hand.
City of Toronto (416)
SNLR
57.1%
prior month 71.4%
Months of inventory
1.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 57.1% sales-to-new-listings, but a seller's market at 1.4 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
75.0%
prior month 87.4%
Months of inventory
0.8
905 total sits in a seller's market: 75.0% 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
$873,301
- Sales
- 727
- SNLR
- 49.8%
- MOI
- 1.8
Aggregated across 2 districts · View →
Midtown
$1,619,305
- Sales
- 384
- SNLR
- 49.1%
- MOI
- 1.9
Aggregated across 6 districts · View →
Scarborough
$896,720
- Sales
- 673
- SNLR
- 77.7%
- MOI
- 0.7
Aggregated across 8 districts · View →
York Region
$1,359,010
- Sales
- 1,695
- SNLR
- 69.9%
- MOI
- 1.0
Region total · View →
Durham Region
$968,136
- Sales
- 1,006
- SNLR
- 76.6%
- 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.