Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,182,120
MoM −$13,981 −1.2% down $13,981, 1.2% versus May 2023 YoY +3.1% up 3.1% versus June 2022
Source: TRREB MarketWatch, June 2023
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
June 2023
In June 2023 the average selling price across the Greater Toronto Area edged down 1.2% to $1,182,120 versus May 2023, and sales dropped 17.0% to 7,481.
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.
$1,010,000
MoM −$25,000 −2.4% down $25,000, 2.4% versus May 2023 YoY +2.5% up 2.5% versus June 2022
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,171,300
MoM +$6,900 +0.6% up $6,900, 0.6% versus May 2023 YoY −1.9% down 1.9% versus June 2022
Sales — Firm transactions reported through the MLS® System during the month.
7,481
MoM −1,531 −17.0% down 1,531, 17.0% versus May 2023 YoY +15.6% up 15.6% versus June 2022
Dollar volume — Total value of all sales in the month.
$8.84B
MoM −$1,935,824,616 −18.0% down $1,935,824,616, 18.0% versus May 2023 YoY +19.2% up 19.2% versus June 2022
New listings — Properties newly listed during the month.
15,865
MoM +671 +4.4% up 671, 4.4% versus May 2023 YoY −2.9% down 2.9% versus June 2022
Active listings — Listings available at month end.
14,107
MoM +2,239 +18.9% up 2,239, 18.9% versus May 2023 YoY −12.3% down 12.3% versus June 2022
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
14
MoM no change no change versus May 2023 YoY −6.7% down 6.7% versus June 2022
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
19
MoM −1 day −5.0% down 1 day, 5.0% versus May 2023 YoY −20.8% down 20.8% versus June 2022
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
104%
MoM −1.0 pp −1.0% down 1.0 pp, 1.0% versus May 2023 YoY +4.0% up 4.0% versus June 2022
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
47.1%
MoM −12.2 pp −20.5% down 12.2 pp, 20.5% versus May 2023 YoY +19.1% up 19.1% versus June 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.
1.9
MoM +1 +43.2% up 1, 43.2% versus May 2023 YoY −24.1% down 24.1% versus June 2022
The month in 60 seconds
- Across all TRREB areas, active listings jumped 18.9% to 14,107 versus May 2023.
- Across all TRREB areas, sales dropped 17.0% to 7,481 versus May 2023.
- Across all TRREB areas, new listings rose 4.4% to 15,865 versus May 2023.
- Across all TRREB areas, the median selling price edged down 2.4% to $1,010,000 versus May 2023.
- Across all TRREB areas, the average selling price edged down 1.2% to $1,182,120 versus May 2023.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.1%
Q1 2023
Toronto employment growth
2.8%
May 2023
Toronto unemployment rate
5.9%
May 2023
Inflation (CPI, year-over-year)
3.4%
May 2023
Bank of Canada overnight rate
4.8%
June 2023
Prime rate
7%
June 2023
1-year mortgage rate
7.14%
June 2023
3-year mortgage rate
6.54%
June 2023
5-year mortgage rate
6.49%
June 2023
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,377 | −672 −16.6% down 672, 16.6% versus May 2023 | $1,530,997 | −$25,569 −1.6% down $25,569, 1.6% versus May 2023 | +5.2% up 5.2% |
| Semi-detached | 678 | −109 −13.9% down 109, 13.9% versus May 2023 | $1,214,872 | +$16,687 +1.4% up $16,687, 1.4% versus May 2023 | +8.0% up 8.0% |
| Att/row/townhouse | 664 | −160 −19.4% down 160, 19.4% versus May 2023 | $1,087,967 | −$29,729 −2.7% down $29,729, 2.7% versus May 2023 | +5.7% up 5.7% |
| Condo townhouse | 569 | −131 −18.7% down 131, 18.7% versus May 2023 | $851,497 | −$16,821 −1.9% down $16,821, 1.9% versus May 2023 | +3.2% up 3.2% |
| Condo apartment | 2,122 | −446 −17.4% down 446, 17.4% versus May 2023 | $739,395 | −$9,088 −1.2% down $9,088, 1.2% versus May 2023 | −1.0% down 1.0% |
| Link | 43 | no change no change versus May 2023 | $1,147,542 | +$72,354 +6.7% up $72,354, 6.7% versus May 2023 | +9.5% up 9.5% |
| Co-op apartment | 9 | −6 −40.0% down 6, 40.0% versus May 2023 | $860,556 | +$319,956 +59.2% up $319,956, 59.2% versus May 2023 | +18.8% up 18.8% |
| Detached condo | 14 | −5 −26.3% down 5, 26.3% versus May 2023 | $1,008,427 | −$318,862 −24.0% down $318,862, 24.0% versus May 2023 | −4.3% down 4.3% |
| Co-ownership apartment | 5 | −2 −28.6% down 2, 28.6% versus May 2023 | $491,900 | +$22,629 +4.8% up $22,629, 4.8% versus May 2023 | +16.6% up 16.6% |
Average price by home type
13 months to June 2023
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| May '23 | 1556566 | 1198185 | 1117696 | 868318 | 748483 |
| Jun '23 | 1530997 | 1214872 | 1087967 | 851497 | 739395 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W07 +19.4% up 19.4%
- Toronto C12 +15.2% up 15.2%
- Caledon +14.2% up 14.2%
- Whitchurch-Stouffville +14.0% up 14.0%
- King +12.3% up 12.3%
Bottom 5
- Toronto C06 −24.7% down 24.7%
- Toronto C11 −23.3% down 23.3%
- Toronto C09 −21.0% down 21.0%
- Toronto C13 −16.8% down 16.8%
- Toronto W02 −15.2% down 15.2%
Sales, month-over-month
Top 5
- Toronto E08 +28.9% up 28.9%
- Brock +26.7% up 26.7%
- Toronto C03 +25.9% up 25.9%
- Uxbridge +17.2% up 17.2%
- Toronto E06 +17.1% up 17.1%
Bottom 5
- Toronto C12 −50.0% down 50.0%
- Toronto C09 −48.6% down 48.6%
- Toronto W03 −38.8% down 38.8%
- Toronto C10 −38.3% down 38.3%
- Georgina −36.4% down 36.4%
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
47.1%
prior month 59.3%
Months of inventory
1.9
All TRREB areas reads differently on the two balance measures — balanced conditions at 47.1% sales-to-new-listings, but a seller's market at 1.9 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
48.9%
prior month 57.3%
Months of inventory
1.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 48.9% sales-to-new-listings, but a seller's market at 1.9 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
46.1%
prior month 60.5%
Months of inventory
1.9
905 total reads differently on the two balance measures — balanced conditions at 46.1% sales-to-new-listings, but a seller's market at 1.9 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
$914,591
- Sales
- 584
- SNLR
- 39.4%
- MOI
- 2.8
Aggregated across 2 districts · View →
Midtown
$1,712,008
- Sales
- 359
- SNLR
- 52.7%
- MOI
- 2.0
Aggregated across 6 districts · View →
Scarborough
$976,018
- Sales
- 518
- SNLR
- 56.1%
- MOI
- 1.3
Aggregated across 8 districts · View →
York Region
$1,391,215
- Sales
- 1,302
- SNLR
- 45.5%
- MOI
- 2.0
Region total · View →
Durham Region
$999,787
- Sales
- 898
- SNLR
- 48.3%
- MOI
- 1.5
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.