Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,299,894
MoM −$34,650 −2.6% down $34,650, 2.6% versus February 2022 YoY +18.4% up 18.4% versus March 2021
Source: TRREB MarketWatch, March 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2022
In March 2022 the average selling price across the Greater Toronto Area edged down 2.6% to $1,299,894 versus February 2022, and sales jumped 20.4% to 10,955.
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.
$1,165,000
MoM −$40,000 −3.3% down $40,000, 3.3% versus February 2022 YoY +23.3% up 23.3% versus March 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,376,000
MoM +$36,000 +2.7% up $36,000, 2.7% versus February 2022 YoY +34.8% up 34.8% versus March 2021
Sales — Firm transactions reported through the MLS® System during the month.
10,955
MoM +1,858 +20.4% up 1,858, 20.4% versus February 2022 YoY −30.0% down 30.0% versus March 2021
Dollar volume — Total value of all sales in the month.
$14.24B
MoM +$2,099,997,888 +17.3% up $2,099,997,888, 17.3% versus February 2022 YoY −17.1% down 17.1% versus March 2021
New listings — Properties newly listed during the month.
20,038
MoM +5,891 +41.6% up 5,891, 41.6% versus February 2022 YoY −11.8% down 11.8% versus March 2021
Active listings — Listings available at month end.
10,167
MoM +3,182 +45.6% up 3,182, 45.6% versus February 2022 YoY −4.1% down 4.1% versus March 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
8
MoM −1 day −11.1% down 1 day, 11.1% versus February 2022 YoY −20.0% down 20.0% versus March 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
11
MoM no change no change versus February 2022 YoY −15.4% down 15.4% versus March 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
113%
MoM −3.0 pp −2.6% down 3.0 pp, 2.6% versus February 2022 YoY +5.6% up 5.6% versus March 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
54.7%
MoM −9.6 pp −15.0% down 9.6 pp, 15.0% versus February 2022 YoY −20.7% down 20.7% versus March 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.
0.9
MoM +0 +20.9% up 0, 20.9% versus February 2022 YoY +37.0% up 37.0% versus March 2021
The month in 60 seconds
- Across all TRREB areas, active listings jumped 45.6% to 10,167 versus February 2022.
- Across all TRREB areas, new listings jumped 41.6% to 20,038 versus February 2022.
- Across all TRREB areas, sales jumped 20.4% to 10,955 versus February 2022.
- Across all TRREB areas, the median selling price fell 3.3% to $1,165,000 versus February 2022.
- Across all TRREB areas, the average selling price edged down 2.6% to $1,299,894 versus February 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
8.1%
February 2022
Toronto unemployment rate
7.4%
February 2022
Inflation (CPI, year-over-year)
5.7%
February 2022
Bank of Canada overnight rate
0.5%
March 2022
Prime rate
2.7%
March 2022
1-year mortgage rate
2.99%
March 2022
3-year mortgage rate
3.69%
March 2022
5-year mortgage rate
4.79%
March 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,884 | +956 +24.3% up 956, 24.3% versus February 2022 | $1,697,396 | −$99,807 −5.6% down $99,807, 5.6% versus February 2022 | +21.0% up 21.0% |
| Semi-detached | 983 | +232 +30.9% up 232, 30.9% versus February 2022 | $1,317,048 | −$41,367 −3.0% down $41,367, 3.0% versus February 2022 | +26.0% up 26.0% |
| Att/row/townhouse | 972 | +117 +13.7% up 117, 13.7% versus February 2022 | $1,212,542 | −$41,918 −3.3% down $41,918, 3.3% versus February 2022 | +27.4% up 27.4% |
| Condo townhouse | 870 | +151 +21.0% up 151, 21.0% versus February 2022 | $948,292 | −$15,408 −1.6% down $15,408, 1.6% versus February 2022 | +23.9% up 23.9% |
| Condo apartment | 3,154 | +382 +13.8% up 382, 13.8% versus February 2022 | $808,566 | +$8,600 +1.1% up $8,600, 1.1% versus February 2022 | +19.6% up 19.6% |
| Link | 66 | +26 +65.0% up 26, 65.0% versus February 2022 | $1,197,978 | −$104,027 −8.0% down $104,027, 8.0% versus February 2022 | +20.1% up 20.1% |
| Co-op apartment | 11 | +3 +37.5% up 3, 37.5% versus February 2022 | $620,000 | +$7,137 +1.2% up $7,137, 1.2% versus February 2022 | −7.6% down 7.6% |
| Detached condo | 10 | −1 −9.1% down 1, 9.1% versus February 2022 | $1,332,200 | +$126,823 +10.5% up $126,823, 10.5% versus February 2022 | +49.1% up 49.1% |
| Co-ownership apartment | 5 | −8 −61.5% down 8, 61.5% versus February 2022 | $514,680 | −$66,033 −11.4% down $66,033, 11.4% versus February 2022 | +24.3% up 24.3% |
Average price by home type
13 months to March 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '22 | 1697396 | 1317048 | 1212542 | 948292 | 808566 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +41.5% up 41.5%
- Toronto W09 +24.8% up 24.8%
- Toronto C10 +23.4% up 23.4%
- Toronto E06 +17.0% up 17.0%
- Toronto W08 +16.7% up 16.7%
Bottom 5
- Toronto C03 −23.1% down 23.1%
- King −21.9% down 21.9%
- Toronto C12 −19.6% down 19.6%
- Toronto C02 −15.7% down 15.7%
- Scugog −13.0% down 13.0%
Sales, month-over-month
Top 5
- Scugog +82.3% up 82.3%
- Toronto W02 +67.1% up 67.1%
- Toronto E01 +66.1% up 66.1%
- Toronto E10 +60.7% up 60.7%
- Toronto E03 +55.6% up 55.6%
Bottom 5
- Toronto C06 −38.8% down 38.8%
- Toronto E05 −6.4% down 6.4%
- Toronto C02 −2.0% down 2.0%
- Toronto E02 −1.5% down 1.5%
- Brampton +1.1% up 1.1%
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
54.7%
prior month 64.3%
Months of inventory
0.9
All TRREB areas reads differently on the two balance measures — balanced conditions at 54.7% sales-to-new-listings, but a seller's market at 0.9 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
60.9%
prior month 66.3%
Months of inventory
0.9
City of Toronto (416) sits in a seller's market: 60.9% of new listings sold and 0.9 months of inventory on hand.
905 total
SNLR
51.7%
prior month 63.3%
Months of inventory
0.9
905 total reads differently on the two balance measures — balanced conditions at 51.7% sales-to-new-listings, but a seller's market at 0.9 months of inventory. They measure different things, so the split is worth noting.
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
$951,538
- Sales
- 895
- SNLR
- 60.6%
- MOI
- 1.0
Aggregated across 2 districts · View →
Midtown
$1,764,706
- Sales
- 455
- SNLR
- 63.0%
- MOI
- 1.1
Aggregated across 6 districts · View →
Scarborough
$1,102,733
- Sales
- 718
- SNLR
- 62.8%
- MOI
- 0.8
Aggregated across 8 districts · View →
York Region
$1,515,897
- Sales
- 1,921
- SNLR
- 48.1%
- MOI
- 1.2
Region total · View →
Durham Region
$1,148,685
- Sales
- 1,390
- SNLR
- 56.2%
- MOI
- 0.7
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.