Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,155,345
MoM +$19,065 +1.7% up $19,065, 1.7% versus September 2021 YoY +19.3% up 19.3% versus October 2020
Source: TRREB MarketWatch, October 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2021
In October 2021 the average selling price across the Greater Toronto Area edged up 1.7% to $1,155,345 versus September 2021, and sales jumped 8.1% to 9,783.
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.
$998,900
MoM +$28,900 +3.0% up $28,900, 3.0% versus September 2021 YoY +20.3% up 20.3% versus October 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,128,600
MoM +$46,200 +4.3% up $46,200, 4.3% versus September 2021 YoY +24.2% up 24.2% versus October 2020
Sales — Firm transactions reported through the MLS® System during the month.
9,783
MoM +737 +8.1% up 737, 8.1% versus September 2021 YoY −7.4% down 7.4% versus October 2020
Dollar volume — Total value of all sales in the month.
$11.30B
MoM +$1,023,950,583 +10.0% up $1,023,950,583, 10.0% versus September 2021 YoY +10.5% up 10.5% versus October 2020
New listings — Properties newly listed during the month.
11,740
MoM −1,743 −12.9% down 1,743, 12.9% versus September 2021 YoY −34.1% down 34.1% versus October 2020
Active listings — Listings available at month end.
7,750
MoM −1,441 −15.7% down 1,441, 15.7% versus September 2021 YoY −55.2% down 55.2% versus October 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
13
MoM −1 day −7.1% down 1 day, 7.1% versus September 2021 YoY −23.5% down 23.5% versus October 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
18
MoM −1 day −5.3% down 1 day, 5.3% versus September 2021 YoY −25.0% down 25.0% versus October 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
107%
MoM +1.0 pp +0.9% up 1.0 pp, 0.9% versus September 2021 YoY +5.9% up 5.9% versus October 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
83.3%
MoM +16.2 pp +24.2% up 16.2 pp, 24.2% versus September 2021 YoY +40.4% up 40.4% versus October 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 −22.0% down 0, 22.0% versus September 2021 YoY −51.7% down 51.7% versus October 2020
The month in 60 seconds
- Across all TRREB areas, active listings dropped 15.7% to 7,750 versus September 2021.
- Across all TRREB areas, new listings dropped 12.9% to 11,740 versus September 2021.
- Across all TRREB areas, sales jumped 8.1% to 9,783 versus September 2021.
- Across all TRREB areas, the median selling price edged up 3.0% to $998,900 versus September 2021.
- Across all TRREB areas, the average selling price edged up 1.7% to $1,155,345 versus September 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
7.5%
September 2021
Toronto unemployment rate
8.9%
September 2021
Inflation (CPI, year-over-year)
4.4%
September 2021
Bank of Canada overnight rate
0.25%
October 2021
Prime rate
2.45%
October 2021
1-year mortgage rate
2.79%
October 2021
3-year mortgage rate
3.49%
October 2021
5-year mortgage rate
4.79%
October 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,279 | +371 +9.5% up 371, 9.5% versus September 2021 | $1,540,432 | +$13,967 +0.9% up $13,967, 0.9% versus September 2021 | +27.9% up 27.9% |
| Semi-detached | 878 | +54 +6.6% up 54, 6.6% versus September 2021 | $1,151,770 | +$37,074 +3.3% up $37,074, 3.3% versus September 2021 | +23.1% up 23.1% |
| Att/row/townhouse | 832 | +11 +1.3% up 11, 1.3% versus September 2021 | $1,085,547 | +$69,278 +6.8% up $69,278, 6.8% versus September 2021 | +32.1% up 32.1% |
| Condo townhouse | 797 | +60 +8.1% up 60, 8.1% versus September 2021 | $823,017 | +$33,034 +4.2% up $33,034, 4.2% versus September 2021 | +24.2% up 24.2% |
| Condo apartment | 2,899 | +235 +8.8% up 235, 8.8% versus September 2021 | $703,698 | −$4,823 −0.7% down $4,823, 0.7% versus September 2021 | +13.1% up 13.1% |
| Link | 70 | +2 +2.9% up 2, 2.9% versus September 2021 | $1,074,616 | −$17,667 −1.6% down $17,667, 1.6% versus September 2021 | +34.1% up 34.1% |
| Co-op apartment | 8 | no change no change versus September 2021 | $843,625 | +$423,750 +100.9% up $423,750, 100.9% versus September 2021 | +43.6% up 43.6% |
| Detached condo | 11 | no change no change versus September 2021 | $1,283,045 | +$342,863 +36.5% up $342,863, 36.5% versus September 2021 | +36.6% up 36.6% |
| Co-ownership apartment | 9 | +4 +80.0% up 4, 80.0% versus September 2021 | $527,778 | −$33,022 −5.9% down $33,022, 5.9% versus September 2021 | −31.0% down 31.0% |
Average price by home type
13 months to October 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Oct '21 | 1540432 | 1151770 | 1085547 | 823017 | 703698 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto E08 +23.7% up 23.7%
- Toronto W09 +22.0% up 22.0%
- Toronto W07 +19.8% up 19.8%
- Uxbridge +19.7% up 19.7%
- Toronto E06 +15.0% up 15.0%
Bottom 5
- Toronto C12 −29.4% down 29.4%
- Toronto C06 −16.8% down 16.8%
- Toronto C10 −14.1% down 14.1%
- King −12.2% down 12.2%
- Toronto C11 −11.9% down 11.9%
Sales, month-over-month
Top 5
- Toronto C09 +70.8% up 70.8%
- Uxbridge +60.0% up 60.0%
- Toronto C07 +53.3% up 53.3%
- Toronto C11 +48.7% up 48.7%
- Toronto C12 +48.0% up 48.0%
Bottom 5
- Toronto W07 −14.3% down 14.3%
- Toronto E05 −14.3% down 14.3%
- Caledon −13.3% down 13.3%
- Toronto E02 −13.0% down 13.0%
- Toronto E11 −12.7% down 12.7%
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
83.3%
prior month 67.1%
Months of inventory
0.8
All TRREB areas sits in a seller's market: 83.3% of new listings sold and 0.8 months of inventory on hand.
City of Toronto (416)
SNLR
73.8%
prior month 57.1%
Months of inventory
1.1
City of Toronto (416) sits in a seller's market: 73.8% of new listings sold and 1.1 months of inventory on hand.
905 total
SNLR
90.7%
prior month 75.0%
Months of inventory
0.6
905 total sits in a seller's market: 90.7% of new listings sold and 0.6 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
$900,522
- Sales
- 813
- SNLR
- 59.9%
- MOI
- 1.5
Aggregated across 2 districts · View →
Midtown
$1,622,618
- Sales
- 468
- SNLR
- 78.8%
- MOI
- 1.3
Aggregated across 6 districts · View →
Scarborough
$962,095
- Sales
- 643
- SNLR
- 84.3%
- MOI
- 0.6
Aggregated across 8 districts · View →
York Region
$1,376,939
- Sales
- 1,834
- SNLR
- 88.6%
- MOI
- 0.7
Region total · View →
Durham Region
$988,354
- Sales
- 1,047
- SNLR
- 92.2%
- 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.