Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,153,269
MoM +$44,663 +4.0% up $44,663, 4.0% versus March 2023 YoY −8.1% down 8.1% versus April 2022
Source: TRREB MarketWatch, April 2023
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
April 2023
In April 2023 the average selling price across the Greater Toronto Area rose 4.0% to $1,153,269 versus March 2023, and sales jumped 9.2% to 7,531.
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.
$999,999
MoM +$34,999 +3.6% up $34,999, 3.6% versus March 2023 YoY −8.9% down 8.9% versus April 2022
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,145,700
MoM +$27,200 +2.4% up $27,200, 2.4% versus March 2023 YoY −12.1% down 12.1% versus April 2022
Sales — Firm transactions reported through the MLS® System during the month.
7,531
MoM +635 +9.2% up 635, 9.2% versus March 2023 YoY −6.0% down 6.0% versus April 2022
Dollar volume — Total value of all sales in the month.
$8.69B
MoM +$1,040,325,994 +13.6% up $1,040,325,994, 13.6% versus March 2023 YoY −13.5% down 13.5% versus April 2022
New listings — Properties newly listed during the month.
11,364
MoM +180 +1.6% up 180, 1.6% versus March 2023 YoY −38.3% down 38.3% versus April 2022
Active listings — Listings available at month end.
10,373
MoM +253 +2.5% up 253, 2.5% versus March 2023 YoY −20.8% down 20.8% versus April 2022
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
17
MoM −2 days −10.5% down 2 days, 10.5% versus March 2023 YoY +54.5% up 54.5% versus April 2022
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
24
MoM −3 days −11.1% down 3 days, 11.1% versus March 2023 YoY +71.4% up 71.4% versus April 2022
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
103%
MoM +2.0 pp +2.0% up 2.0 pp, 2.0% versus March 2023 YoY −3.7% down 3.7% versus April 2022
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
66.3%
MoM +4.6 pp +7.5% up 4.6 pp, 7.5% versus March 2023 YoY +52.4% up 52.4% versus April 2022
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.
1.4
MoM −0 −6.1% down 0, 6.1% versus March 2023 YoY −15.8% down 15.8% versus April 2022
The month in 60 seconds
- Across all TRREB areas, sales jumped 9.2% to 7,531 versus March 2023.
- Across all TRREB areas, the average selling price rose 4.0% to $1,153,269 versus March 2023.
- Across all TRREB areas, the median selling price rose 3.6% to $999,999 versus March 2023.
- Across all TRREB areas, active listings edged up 2.5% to 10,373 versus March 2023.
- Across all TRREB areas, the average sale-to-list ratio edged up 2.0% to 103.0% versus March 2023.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
0%
Q4 2022
Toronto employment growth
2.6%
March 2023
Toronto unemployment rate
5.8%
March 2023
Inflation (CPI, year-over-year)
4.3%
March 2023
Bank of Canada overnight rate
4.5%
April 2023
Prime rate
6.7%
April 2023
1-year mortgage rate
6.29%
April 2023
3-year mortgage rate
6.14%
April 2023
5-year mortgage rate
6.49%
April 2023
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,448 | +448 +14.9% up 448, 14.9% versus March 2023 | $1,489,258 | +$20,607 +1.4% up $20,607, 1.4% versus March 2023 | −8.5% down 8.5% |
| Semi-detached | 630 | +74 +13.3% up 74, 13.3% versus March 2023 | $1,135,599 | +$47,675 +4.4% up $47,675, 4.4% versus March 2023 | −9.8% down 9.8% |
| Att/row/townhouse | 641 | +1 +0.2% up 1, 0.2% versus March 2023 | $1,093,560 | +$56,989 +5.5% up $56,989, 5.5% versus March 2023 | −2.3% down 2.3% |
| Condo townhouse | 588 | +61 +11.6% up 61, 11.6% versus March 2023 | $868,997 | +$55,961 +6.9% up $55,961, 6.9% versus March 2023 | −4.4% down 4.4% |
| Condo apartment | 2,160 | +39 +1.8% up 39, 1.8% versus March 2023 | $724,118 | +$20,552 +2.9% up $20,552, 2.9% versus March 2023 | −8.3% down 8.3% |
| Link | 39 | +5 +14.7% up 5, 14.7% versus March 2023 | $1,075,864 | −$44,896 −4.0% down $44,896, 4.0% versus March 2023 | −0.1% down 0.1% |
| Co-op apartment | 11 | +3 +37.5% up 3, 37.5% versus March 2023 | $497,364 | +$68,551 +16.0% up $68,551, 16.0% versus March 2023 | −31.5% down 31.5% |
| Detached condo | 11 | +3 +37.5% up 3, 37.5% versus March 2023 | $883,309 | −$68,122 −7.2% down $68,122, 7.2% versus March 2023 | −19.9% down 19.9% |
| Co-ownership apartment | 3 | +1 +50.0% up 1, 50.0% versus March 2023 | $566,300 | +$155,300 +37.8% up $155,300, 37.8% versus March 2023 | −9.4% down 9.4% |
Average price by home type
13 months to April 2023
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Dec '22 | 1384586 | 1009479 | 954312 | 772038 | 705659 |
| Jan '23 | 1341848 | 1019668 | 976500 | 776698 | 687696 |
| Feb '23 | 1439735 | 1069266 | 1050342 | 785448 | 705472 |
| Mar '23 | 1468651 | 1087924 | 1036571 | 813036 | 703566 |
| Apr '23 | 1489258 | 1135599 | 1093560 | 868997 | 724118 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C11 +36.8% up 36.8%
- Toronto C09 +29.5% up 29.5%
- Toronto C13 +27.3% up 27.3%
- Toronto C03 +24.2% up 24.2%
- Toronto W02 +16.6% up 16.6%
Bottom 5
- Toronto C12 −18.6% down 18.6%
- Uxbridge −17.3% down 17.3%
- Toronto W07 −16.7% down 16.7%
- Toronto C06 −9.9% down 9.9%
- Georgina −9.7% down 9.7%
Sales, month-over-month
Top 5
- Toronto W01 +52.6% up 52.6%
- King +52.4% up 52.4%
- Toronto W03 +39.5% up 39.5%
- Toronto C04 +35.6% up 35.6%
- Toronto E10 +35.0% up 35.0%
Bottom 5
- Brock −31.6% down 31.6%
- Toronto W06 −14.9% down 14.9%
- Caledon −12.4% down 12.4%
- Toronto E03 −12.0% down 12.0%
- Toronto W05 −10.6% down 10.6%
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
66.3%
prior month 61.7%
Months of inventory
1.4
All TRREB areas sits in a seller's market: 66.3% of new listings sold and 1.4 months of inventory on hand.
City of Toronto (416)
SNLR
62.3%
prior month 58.4%
Months of inventory
1.6
City of Toronto (416) sits in a seller's market: 62.3% of new listings sold and 1.6 months of inventory on hand.
905 total
SNLR
68.8%
prior month 63.7%
Months of inventory
1.2
905 total sits in a seller's market: 68.8% of new listings sold and 1.2 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
$879,588
- Sales
- 588
- SNLR
- 57.4%
- MOI
- 2.1
Aggregated across 2 districts · View →
Midtown
$1,681,568
- Sales
- 335
- SNLR
- 54.2%
- MOI
- 2.0
Aggregated across 6 districts · View →
Scarborough
$935,992
- Sales
- 469
- SNLR
- 76.5%
- MOI
- 1.1
Aggregated across 8 districts · View →
York Region
$1,369,724
- Sales
- 1,370
- SNLR
- 66.2%
- MOI
- 1.3
Region total · View →
Durham Region
$956,240
- Sales
- 903
- SNLR
- 73.8%
- MOI
- 1.0
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.