Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,089,428
MoM +$2,666 +0.2% up $2,666, 0.2% versus September 2022 YoY −5.7% down 5.7% versus October 2021
Source: TRREB MarketWatch, October 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2022
In October 2022 the average selling price across the Greater Toronto Area held steady at $1,089,428 versus September 2022, and sales edged down 1.5% to 4,961.
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.
$940,500
MoM −$4,500 −0.5% down $4,500, 0.5% versus September 2022 YoY −5.8% down 5.8% versus October 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,098,200
MoM −$12,500 −1.1% down $12,500, 1.1% versus September 2022 YoY −1.3% down 1.3% versus October 2021
Sales — Firm transactions reported through the MLS® System during the month.
4,961
MoM −77 −1.5% down 77, 1.5% versus September 2022 YoY −49.3% down 49.3% versus October 2021
Dollar volume — Total value of all sales in the month.
$5.40B
MoM −$70,456,936 −1.3% down $70,456,936, 1.3% versus September 2022 YoY −52.2% down 52.2% versus October 2021
New listings — Properties newly listed during the month.
10,390
MoM −847 −7.5% down 847, 7.5% versus September 2022 YoY −11.5% down 11.5% versus October 2021
Active listings — Listings available at month end.
13,023
MoM −511 −3.8% down 511, 3.8% versus September 2022 YoY +68.0% up 68.0% versus October 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
21
MoM −2 days −8.7% down 2 days, 8.7% versus September 2022 YoY +61.5% up 61.5% versus October 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
33
MoM −2 days −5.7% down 2 days, 5.7% versus September 2022 YoY +83.3% up 83.3% versus October 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM no change no change versus September 2022 YoY −8.4% down 8.4% versus October 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
47.8%
MoM +2.9 pp +6.5% up 2.9 pp, 6.5% versus September 2022 YoY −42.7% down 42.7% versus October 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.
2.6
MoM −0 −2.3% down 0, 2.3% versus September 2022 YoY +231.4% up 231.4% versus October 2021
The month in 60 seconds
- Across all TRREB areas, new listings fell 7.5% to 10,390 versus September 2022.
- Across all TRREB areas, active listings fell 3.8% to 13,023 versus September 2022.
- Across all TRREB areas, sales edged down 1.5% to 4,961 versus September 2022.
- Across all TRREB areas, the median selling price held steady at $940,500 versus September 2022.
- Across all TRREB areas, the average selling price held steady at $1,089,428 versus September 2022.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.3%
Q2 2022
Toronto employment growth
2.4%
September 2022
Toronto unemployment rate
6%
September 2022
Inflation (CPI, year-over-year)
6.9%
September 2022
Bank of Canada overnight rate
3.8%
October 2022
Prime rate
5.5%
October 2022
1-year mortgage rate
6.09%
October 2022
3-year mortgage rate
6.04%
October 2022
5-year mortgage rate
6.49%
October 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,300 | −34 −1.5% down 34, 1.5% versus September 2022 | $1,372,438 | +$3,252 +0.2% up $3,252, 0.2% versus September 2022 | −10.9% down 10.9% |
| Semi-detached | 446 | −55 −11.0% down 55, 11.0% versus September 2022 | $1,079,393 | +$36,273 +3.5% up $36,273, 3.5% versus September 2022 | −6.3% down 6.3% |
| Att/row/townhouse | 435 | no change no change versus September 2022 | $1,023,934 | +$33,692 +3.4% up $33,692, 3.4% versus September 2022 | −5.7% down 5.7% |
| Condo townhouse | 387 | −8 −2.0% down 8, 2.0% versus September 2022 | $802,969 | −$995 −0.1% down $995, 0.1% versus September 2022 | −2.4% down 2.4% |
| Condo apartment | 1,338 | +21 +1.6% up 21, 1.6% versus September 2022 | $716,515 | −$14,303 −2.0% down $14,303, 2.0% versus September 2022 | +1.8% up 1.8% |
| Link | 30 | +2 +7.1% up 2, 7.1% versus September 2022 | $981,897 | +$7,272 +0.7% up $7,272, 0.7% versus September 2022 | −8.6% down 8.6% |
| Co-op apartment | 15 | +3 +25.0% up 3, 25.0% versus September 2022 | $808,967 | +$317,270 +64.5% up $317,270, 64.5% versus September 2022 | −4.1% down 4.1% |
| Detached condo | 6 | −3 −33.3% down 3, 33.3% versus September 2022 | $1,056,667 | +$834 +0.1% up $834, 0.1% versus September 2022 | −17.6% down 17.6% |
| Co-ownership apartment | 4 | −3 −42.9% down 3, 42.9% versus September 2022 | $961,250 | +$486,536 +102.5% up $486,536, 102.5% versus September 2022 | +82.1% up 82.1% |
Average price by home type
13 months to October 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Apr '22 | 1628343 | 1259243 | 1119648 | 909207 | 789869 |
| May '22 | 1549498 | 1204893 | 1063177 | 857113 | 770894 |
| Jun '22 | 1454902 | 1124723 | 1028977 | 825447 | 747216 |
| Jul '22 | 1362598 | 1077750 | 997668 | 799953 | 719273 |
| Aug '22 | 1379700 | 998490 | 987308 | 789386 | 711321 |
| Sep '22 | 1369186 | 1043120 | 990242 | 803964 | 730818 |
| Oct '22 | 1372438 | 1079393 | 1023934 | 802969 | 716515 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C13 +49.1% up 49.1%
- Toronto C12 +27.9% up 27.9%
- Caledon +25.9% up 25.9%
- Toronto E02 +19.6% up 19.6%
- Toronto E10 +19.6% up 19.6%
Bottom 5
- Toronto C06 −46.9% down 46.9%
- King −19.4% down 19.4%
- Toronto W07 −14.8% down 14.8%
- Toronto W10 −13.4% down 13.4%
- Toronto C14 −13.0% down 13.0%
Sales, month-over-month
Top 5
- Toronto C13 +136.4% up 136.4%
- Toronto C09 +120.0% up 120.0%
- Toronto C03 +60.7% up 60.7%
- Toronto W09 +47.6% up 47.6%
- Toronto C11 +45.8% up 45.8%
Bottom 5
- Scugog −46.1% down 46.1%
- Toronto C06 −39.1% down 39.1%
- East Gwillimbury −37.5% down 37.5%
- Whitchurch-Stouffville −33.3% down 33.3%
- Georgina −23.7% down 23.7%
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
47.8%
prior month 44.8%
Months of inventory
2.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 47.8% sales-to-new-listings, but a seller's market at 2.6 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
46.2%
prior month 38.8%
Months of inventory
2.8
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 46.2% sales-to-new-listings, but a seller's market at 2.8 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
48.8%
prior month 48.8%
Months of inventory
2.5
905 total reads differently on the two balance measures — balanced conditions at 48.8% sales-to-new-listings, but a seller's market at 2.5 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
$898,076
- Sales
- 337
- SNLR
- 34.8%
- MOI
- 4.1
Aggregated across 2 districts · View →
Midtown
$1,606,047
- Sales
- 251
- SNLR
- 45.6%
- MOI
- 2.9
Aggregated across 6 districts · View →
Scarborough
$925,298
- Sales
- 333
- SNLR
- 56.1%
- MOI
- 2.0
Aggregated across 8 districts · View →
York Region
$1,258,610
- Sales
- 854
- SNLR
- 49.2%
- MOI
- 2.6
Region total · View →
Durham Region
$893,673
- Sales
- 632
- SNLR
- 53.4%
- MOI
- 1.7
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.