Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,334,544
MoM +$91,751 +7.4% up $91,751, 7.4% versus January 2022 YoY +27.6% up 27.6% versus February 2021
Source: TRREB MarketWatch, February 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2022
In February 2022 the average selling price across the Greater Toronto Area rose 7.4% to $1,334,544 versus January 2022, and sales jumped 61.4% to 9,097.
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.
$1,205,000
MoM +$105,000 +9.5% up $105,000, 9.5% versus January 2022 YoY +32.1% up 32.1% versus February 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,340,000
MoM +$80,100 +6.4% up $80,100, 6.4% versus January 2022 YoY +35.9% up 35.9% versus February 2021
Sales — Firm transactions reported through the MLS® System during the month.
9,097
MoM +3,461 +61.4% up 3,461, 61.4% versus January 2022 YoY −17.1% down 17.1% versus February 2021
Dollar volume — Total value of all sales in the month.
$12.14B
MoM +$5,135,960,328 +73.3% up $5,135,960,328, 73.3% versus January 2022 YoY +5.9% up 5.9% versus February 2021
New listings — Properties newly listed during the month.
14,147
MoM +6,168 +77.3% up 6,168, 77.3% versus January 2022 YoY −6.5% down 6.5% versus February 2021
Active listings — Listings available at month end.
6,985
MoM +2,845 +68.7% up 2,845, 68.7% versus January 2022 YoY −20.0% down 20.0% versus February 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
9
MoM −4 days −30.8% down 4 days, 30.8% versus January 2022 YoY −35.7% down 35.7% versus February 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
11
MoM −7 days −38.9% down 7 days, 38.9% versus January 2022 YoY −42.1% down 42.1% versus February 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
116%
MoM +3.0 pp +2.7% up 3.0 pp, 2.7% versus January 2022 YoY +8.4% up 8.4% versus February 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
64.3%
MoM −6.3 pp −9.0% down 6.3 pp, 9.0% versus January 2022 YoY −11.3% down 11.3% versus February 2021
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 +4.5% up 0, 4.5% versus January 2022 YoY −3.5% down 3.5% versus February 2021
The month in 60 seconds
- Across all TRREB areas, new listings jumped 77.3% to 14,147 versus January 2022.
- Across all TRREB areas, active listings jumped 68.7% to 6,985 versus January 2022.
- Across all TRREB areas, sales jumped 61.4% to 9,097 versus January 2022.
- Across all TRREB areas, the median selling price jumped 9.5% to $1,205,000 versus January 2022.
- Across all TRREB areas, the average selling price rose 7.4% to $1,334,544 versus January 2022.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
6.6%
Q4 2021
Toronto employment growth
6.9%
January 2022
Toronto unemployment rate
7.7%
January 2022
Inflation (CPI, year-over-year)
5.1%
January 2022
Bank of Canada overnight rate
0.25%
February 2022
Prime rate
2.45%
February 2022
1-year mortgage rate
2.79%
February 2022
3-year mortgage rate
3.49%
February 2022
5-year mortgage rate
4.79%
February 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,928 | +1,689 +75.4% up 1,689, 75.4% versus January 2022 | $1,797,203 | +$55,885 +3.2% up $55,885, 3.2% versus January 2022 | +31.0% up 31.0% |
| Semi-detached | 751 | +306 +68.8% up 306, 68.8% versus January 2022 | $1,358,415 | +$46,142 +3.5% up $46,142, 3.5% versus January 2022 | +29.3% up 29.3% |
| Att/row/townhouse | 855 | +397 +86.7% up 397, 86.7% versus January 2022 | $1,254,460 | +$32,734 +2.7% up $32,734, 2.7% versus January 2022 | +33.3% up 33.3% |
| Condo townhouse | 719 | +286 +66.1% up 286, 66.1% versus January 2022 | $963,700 | +$27,436 +2.9% up $27,436, 2.9% versus January 2022 | +29.4% up 29.4% |
| Condo apartment | 2,772 | +756 +37.5% up 756, 37.5% versus January 2022 | $799,966 | +$51,400 +6.9% up $51,400, 6.9% versus January 2022 | +24.5% up 24.5% |
| Link | 40 | +13 +48.1% up 13, 48.1% versus January 2022 | $1,302,005 | −$44,402 −3.3% down $44,402, 3.3% versus January 2022 | +32.7% up 32.7% |
| Co-op apartment | 8 | +3 +60.0% up 3, 60.0% versus January 2022 | $612,863 | +$110,063 +21.9% up $110,063, 21.9% versus January 2022 | +8.5% up 8.5% |
| Detached condo | 11 | +7 +175.0% up 7, 175.0% versus January 2022 | $1,205,377 | +$198,377 +19.7% up $198,377, 19.7% versus January 2022 | +27.0% up 27.0% |
| Co-ownership apartment | 13 | +4 +44.4% up 4, 44.4% versus January 2022 | $580,713 | +$63,545 +12.3% up $63,545, 12.3% versus January 2022 | +58.1% up 58.1% |
Average price by home type
13 months to February 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jan '22 | 1741318 | 1312273 | 1221726 | 936264 | 748566 |
| Feb '22 | 1797203 | 1358415 | 1254460 | 963700 | 799966 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- King +64.0% up 64.0%
- Toronto C03 +61.5% up 61.5%
- Toronto C06 +33.5% up 33.5%
- Toronto C11 +31.2% up 31.2%
- Toronto C02 +26.5% up 26.5%
Bottom 5
- Toronto W07 −11.4% down 11.4%
- Toronto E06 −8.9% down 8.9%
- Whitchurch-Stouffville −6.1% down 6.1%
- Richmond Hill −4.4% down 4.4%
- Toronto W10 −3.4% down 3.4%
Sales, month-over-month
Top 5
- Toronto W07 +225.0% up 225.0%
- Whitchurch-Stouffville +142.4% up 142.4%
- Toronto C03 +137.5% up 137.5%
- Newmarket +134.4% up 134.4%
- Aurora +128.6% up 128.6%
Bottom 5
- Toronto W09 −19.5% down 19.5%
- Toronto C14 +1.9% up 1.9%
- Toronto E03 +12.5% up 12.5%
- Toronto W04 +13.8% up 13.8%
- Scugog +21.4% up 21.4%
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
64.3%
prior month 70.6%
Months of inventory
0.8
All TRREB areas sits in a seller's market: 64.3% of new listings sold and 0.8 months of inventory on hand.
City of Toronto (416)
SNLR
66.3%
prior month 72.3%
Months of inventory
0.9
City of Toronto (416) sits in a seller's market: 66.3% of new listings sold and 0.9 months of inventory on hand.
905 total
SNLR
63.3%
prior month 69.6%
Months of inventory
0.7
905 total sits in a seller's market: 63.3% 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
$895,895
- Sales
- 809
- SNLR
- 67.1%
- MOI
- 0.9
Aggregated across 2 districts · View →
Midtown
$1,781,566
- Sales
- 360
- SNLR
- 62.9%
- MOI
- 1.1
Aggregated across 6 districts · View →
Scarborough
$1,136,175
- Sales
- 561
- SNLR
- 67.1%
- MOI
- 0.6
Aggregated across 8 districts · View →
York Region
$1,587,603
- Sales
- 1,661
- SNLR
- 58.1%
- MOI
- 1.0
Region total · View →
Durham Region
$1,228,990
- Sales
- 1,125
- SNLR
- 69.7%
- 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.