Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,157,849
MoM −$5,474 −0.5% down $5,474, 0.5% versus November 2021 YoY +24.2% up 24.2% versus December 2020
Source: TRREB MarketWatch, December 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
December 2021
In December 2021 the average selling price across the Greater Toronto Area held steady at $1,157,849 versus November 2021, and sales dropped 33.1% to 6,031, though a December 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.
$1,017,100
MoM +$17,101 +1.7% up $17,101, 1.7% versus November 2021 YoY +27.1% up 27.1% versus December 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,208,000
MoM +$35,100 +3.0% up $35,100, 3.0% versus November 2021 YoY +31.1% up 31.1% versus December 2020
Sales — Firm transactions reported through the MLS® System during the month.
6,031
MoM −2,986 −33.1% down 2,986, 33.1% versus November 2021 YoY −16.0% down 16.0% versus December 2020
Dollar volume — Total value of all sales in the month.
$6.98B
MoM −$3,506,695,103 −33.4% down $3,506,695,103, 33.4% versus November 2021 YoY +4.3% up 4.3% versus December 2020
New listings — Properties newly listed during the month.
5,174
MoM −4,862 −48.4% down 4,862, 48.4% versus November 2021 YoY −11.8% down 11.8% versus December 2020
Active listings — Listings available at month end.
3,232
MoM −2,854 −46.9% down 2,854, 46.9% versus November 2021 YoY −59.0% down 59.0% versus December 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
14
MoM +1 day +7.7% up 1 day, 7.7% versus November 2021 YoY −41.7% down 41.7% versus December 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
19
MoM +1 day +5.6% up 1 day, 5.6% versus November 2021 YoY −45.7% down 45.7% versus December 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
109%
MoM +1.0 pp +0.9% up 1.0 pp, 0.9% versus November 2021 YoY +7.9% up 7.9% versus December 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
116.6%
MoM +26.7 pp +29.7% up 26.7 pp, 29.7% versus November 2021 YoY −4.8% down 4.8% versus December 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.
0.5
MoM −0 −20.6% down 0, 20.6% versus November 2021 YoY −51.2% down 51.2% versus December 2020
The month in 60 seconds
- Across all TRREB areas, new listings dropped 48.4% to 5,174 versus November 2021.
- Across all TRREB areas, active listings dropped 46.9% to 3,232 versus November 2021.
- Across all TRREB areas, sales dropped 33.1% to 6,031 versus November 2021.
- Across all TRREB areas, the median selling price edged up 1.7% to $1,017,100 versus November 2021.
- Across all TRREB areas, the average sale-to-list ratio held steady at 109.0% versus November 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
5.3%
Q3 2021
Toronto employment growth
5.4%
November 2021
Toronto unemployment rate
7.7%
November 2021
Inflation (CPI, year-over-year)
4.7%
November 2021
Bank of Canada overnight rate
0.25%
November 2021
Prime rate
2.45%
November 2021
1-year mortgage rate
2.79%
December 2021
3-year mortgage rate
3.49%
December 2021
5-year mortgage rate
4.79%
December 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,437 | −1,420 −36.8% down 1,420, 36.8% versus November 2021 | $1,598,735 | +$30,903 +2.0% up $30,903, 2.0% versus November 2021 | +28.9% up 28.9% |
| Semi-detached | 501 | −254 −33.6% down 254, 33.6% versus November 2021 | $1,181,046 | −$24,970 −2.1% down $24,970, 2.1% versus November 2021 | +25.7% up 25.7% |
| Att/row/townhouse | 502 | −228 −31.2% down 228, 31.2% versus November 2021 | $1,136,657 | +$41,087 +3.8% up $41,087, 3.8% versus November 2021 | +30.5% up 30.5% |
| Condo townhouse | 481 | −238 −33.1% down 238, 33.1% versus November 2021 | $846,525 | +$20,050 +2.4% up $20,050, 2.4% versus November 2021 | +26.5% up 26.5% |
| Condo apartment | 2,058 | −810 −28.2% down 810, 28.2% versus November 2021 | $711,933 | −$3,171 −0.4% down $3,171, 0.4% versus November 2021 | +18.5% up 18.5% |
| Link | 32 | −30 −48.4% down 30, 48.4% versus November 2021 | $1,164,128 | +$48,823 +4.4% up $48,823, 4.4% versus November 2021 | +25.9% up 25.9% |
| Co-op apartment | 6 | −5 −45.5% down 5, 45.5% versus November 2021 | $902,642 | +$219,340 +32.1% up $219,340, 32.1% versus November 2021 | +79.9% up 79.9% |
| Detached condo | 5 | −2 −28.6% down 2, 28.6% versus November 2021 | $888,000 | −$20,286 −2.2% down $20,286, 2.2% versus November 2021 | +22.2% up 22.2% |
| Co-ownership apartment | 9 | +1 +12.5% up 1, 12.5% versus November 2021 | $569,222 | +$60,409 +11.9% up $60,409, 11.9% versus November 2021 | +12.3% up 12.3% |
Average price by home type
13 months to December 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '21 | 1567832 | 1206016 | 1095570 | 826475 | 715104 |
| Dec '21 | 1598735 | 1181046 | 1136657 | 846525 | 711933 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Uxbridge +31.1% up 31.1%
- Toronto C14 +21.8% up 21.8%
- King +14.6% up 14.6%
- Brock +13.4% up 13.4%
- East Gwillimbury +13.3% up 13.3%
Bottom 5
- Toronto C12 −38.0% down 38.0%
- Toronto C09 −34.2% down 34.2%
- Toronto C11 −29.3% down 29.3%
- Toronto W09 −18.0% down 18.0%
- Toronto C02 −14.1% down 14.1%
Sales, month-over-month
Top 5
- Uxbridge +5.6% up 5.6%
- Toronto C11 −12.5% down 12.5%
- Toronto W05 −12.5% down 12.5%
- Toronto E10 −13.2% down 13.2%
- Brock −14.3% down 14.3%
Bottom 5
- Toronto E02 −62.3% down 62.3%
- Toronto W01 −56.5% down 56.5%
- Newmarket −55.2% down 55.2%
- Toronto C04 −52.2% down 52.2%
- Toronto W08 −51.9% down 51.9%
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
116.6%
prior month 89.8%
Months of inventory
0.5
All TRREB areas sits in a seller's market: 116.6% of new listings sold and 0.5 months of inventory on hand.
City of Toronto (416)
SNLR
122.0%
prior month 84.4%
Months of inventory
0.8
City of Toronto (416) sits in a seller's market: 122.0% of new listings sold and 0.8 months of inventory on hand.
905 total
SNLR
113.2%
prior month 93.8%
Months of inventory
0.4
905 total sits in a seller's market: 113.2% of new listings sold and 0.4 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
$846,298
- Sales
- 580
- SNLR
- 112.8%
- MOI
- 1.1
Aggregated across 2 districts · View →
Midtown
$1,422,712
- Sales
- 272
- SNLR
- 145.5%
- MOI
- 0.9
Aggregated across 6 districts · View →
Scarborough
$933,684
- Sales
- 435
- SNLR
- 122.2%
- MOI
- 0.3
Aggregated across 8 districts · View →
York Region
$1,425,366
- Sales
- 1,051
- SNLR
- 114.7%
- MOI
- 0.6
Region total · View →
Durham Region
$1,033,032
- Sales
- 671
- SNLR
- 118.8%
- MOI
- 0.2
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.