Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,079,395
MoM −$10,033 −0.9% down $10,033, 0.9% versus October 2022 YoY −7.2% down 7.2% versus November 2021
Source: TRREB MarketWatch, November 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
November 2022
In November 2022 the average selling price across the Greater Toronto Area held steady at $1,079,395 versus October 2022, and sales dropped 8.4% to 4,544.
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.
$920,000
MoM −$20,500 −2.2% down $20,500, 2.2% versus October 2022 YoY −8.0% down 8.0% versus November 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,089,800
MoM −$8,400 −0.8% down $8,400, 0.8% versus October 2022 YoY −5.5% down 5.5% versus November 2021
Sales — Firm transactions reported through the MLS® System during the month.
4,544
MoM −417 −8.4% down 417, 8.4% versus October 2022 YoY −49.6% down 49.6% versus November 2021
Dollar volume — Total value of all sales in the month.
$4.90B
MoM −$499,878,056 −9.2% down $499,878,056, 9.2% versus October 2022 YoY −53.2% down 53.2% versus November 2021
New listings — Properties newly listed during the month.
8,880
MoM −1,510 −14.5% down 1,510, 14.5% versus October 2022 YoY −11.5% down 11.5% versus November 2021
Active listings — Listings available at month end.
11,910
MoM −1,113 −8.5% down 1,113, 8.5% versus October 2022 YoY +95.7% up 95.7% versus November 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
22
MoM +1 day +4.8% up 1 day, 4.8% versus October 2022 YoY +69.2% up 69.2% versus November 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
33
MoM no change no change versus October 2022 YoY +83.3% up 83.3% versus November 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 October 2022 YoY −9.3% down 9.3% versus November 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
51.2%
MoM +3.4 pp +7.2% up 3.4 pp, 7.2% versus October 2022 YoY −43.0% down 43.0% versus November 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 −0.2% down 0, 0.2% versus October 2022 YoY +288.3% up 288.3% versus November 2021
The month in 60 seconds
- Across all TRREB areas, new listings dropped 14.5% to 8,880 versus October 2022.
- Across all TRREB areas, active listings dropped 8.5% to 11,910 versus October 2022.
- Across all TRREB areas, sales dropped 8.4% to 4,544 versus October 2022.
- Across all TRREB areas, the median selling price edged down 2.2% to $920,000 versus October 2022.
- Across all TRREB areas, the average selling price held steady at $1,079,395 versus October 2022.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.9%
Q3 2022
Toronto employment growth
0.8%
October 2022
Toronto unemployment rate
6.2%
October 2022
Inflation (CPI, year-over-year)
6.9%
October 2022
Bank of Canada overnight rate
3.8%
November 2022
Prime rate
6%
November 2022
1-year mortgage rate
6.09%
November 2022
3-year mortgage rate
6.04%
November 2022
5-year mortgage rate
6.49%
November 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,056 | −244 −10.6% down 244, 10.6% versus October 2022 | $1,390,162 | +$17,724 +1.3% up $17,724, 1.3% versus October 2022 | −11.3% down 11.3% |
| Semi-detached | 386 | −60 −13.5% down 60, 13.5% versus October 2022 | $1,039,200 | −$40,193 −3.7% down $40,193, 3.7% versus October 2022 | −13.8% down 13.8% |
| Att/row/townhouse | 403 | −32 −7.4% down 32, 7.4% versus October 2022 | $993,557 | −$30,377 −3.0% down $30,377, 3.0% versus October 2022 | −9.3% down 9.3% |
| Condo townhouse | 371 | −16 −4.1% down 16, 4.1% versus October 2022 | $799,029 | −$3,940 −0.5% down $3,940, 0.5% versus October 2022 | −3.3% down 3.3% |
| Condo apartment | 1,289 | −49 −3.7% down 49, 3.7% versus October 2022 | $708,636 | −$7,879 −1.1% down $7,879, 1.1% versus October 2022 | −0.9% down 0.9% |
| Link | 23 | −7 −23.3% down 7, 23.3% versus October 2022 | $1,086,148 | +$104,251 +10.6% up $104,251, 10.6% versus October 2022 | −2.6% down 2.6% |
| Co-op apartment | 8 | −7 −46.7% down 7, 46.7% versus October 2022 | $566,688 | −$242,279 −29.9% down $242,279, 29.9% versus October 2022 | −17.1% down 17.1% |
| Detached condo | 5 | −1 −16.7% down 1, 16.7% versus October 2022 | $903,000 | −$153,667 −14.5% down $153,667, 14.5% versus October 2022 | −0.6% down 0.6% |
| Co-ownership apartment | 3 | −1 −25.0% down 1, 25.0% versus October 2022 | $388,000 | −$573,250 −59.6% down $573,250, 59.6% versus October 2022 | −23.7% down 23.7% |
Average price by home type
13 months to November 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '22 | 1390162 | 1039200 | 993557 | 799029 | 708636 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +58.5% up 58.5%
- King +41.9% up 41.9%
- Whitchurch-Stouffville +26.8% up 26.8%
- Toronto C15 +26.7% up 26.7%
- Toronto C03 +23.7% up 23.7%
Bottom 5
- Toronto C12 −35.9% down 35.9%
- Toronto C13 −32.4% down 32.4%
- Toronto C09 −21.7% down 21.7%
- Toronto C04 −20.9% down 20.9%
- Caledon −19.9% down 19.9%
Sales, month-over-month
Top 5
- Toronto C06 +64.3% up 64.3%
- Toronto E11 +33.3% up 33.3%
- Toronto E08 +25.7% up 25.7%
- Toronto W01 +21.6% up 21.6%
- Scugog +21.4% up 21.4%
Bottom 5
- Toronto C11 −45.7% down 45.7%
- Toronto W09 −35.5% down 35.5%
- Brock −33.3% down 33.3%
- Brampton −29.9% down 29.9%
- Toronto E01 −27.7% down 27.7%
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
51.2%
prior month 47.8%
Months of inventory
2.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 51.2% 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
50.5%
prior month 46.2%
Months of inventory
2.7
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 50.5% sales-to-new-listings, but a seller's market at 2.7 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
51.6%
prior month 48.8%
Months of inventory
2.5
905 total reads differently on the two balance measures — balanced conditions at 51.6% 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
$853,308
- Sales
- 379
- SNLR
- 43.8%
- MOI
- 3.4
Aggregated across 2 districts · View →
Midtown
$1,564,091
- Sales
- 208
- SNLR
- 43.2%
- MOI
- 3.3
Aggregated across 6 districts · View →
Scarborough
$870,801
- Sales
- 315
- SNLR
- 62.1%
- MOI
- 1.9
Aggregated across 8 districts · View →
York Region
$1,309,646
- Sales
- 832
- SNLR
- 54.3%
- MOI
- 2.4
Region total · View →
Durham Region
$892,677
- Sales
- 564
- SNLR
- 54.4%
- MOI
- 1.8
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.