Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,125,928
MoM +$6,500 +0.6% up $6,500, 0.6% versus September 2023 YoY +3.4% up 3.4% versus October 2022
Source: TRREB MarketWatch, October 2023
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2023
In October 2023 the average selling price across the Greater Toronto Area held steady at $1,125,928 versus September 2023, and sales held steady at 4,646.
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.
$959,500
MoM −$500 −0.1% down $500, 0.1% versus September 2023 YoY +2.0% up 2.0% versus October 2022
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,103,600
MoM −$23,400 −2.1% down $23,400, 2.1% versus September 2023 YoY +1.4% up 1.4% versus October 2022
Sales — Firm transactions reported through the MLS® System during the month.
4,646
MoM +4 +0.1% up 4, 0.1% versus September 2023 YoY −6.3% down 6.3% versus October 2022
Dollar volume — Total value of all sales in the month.
$5.23B
MoM +$34,672,760 +0.7% up $34,672,760, 0.7% versus September 2023 YoY −3.2% down 3.2% versus October 2022
New listings — Properties newly listed during the month.
14,397
MoM −1,861 −11.4% down 1,861, 11.4% versus September 2023 YoY +38.6% up 38.6% versus October 2022
Active listings — Listings available at month end.
19,540
MoM +628 +3.3% up 628, 3.3% versus September 2023 YoY +50.0% up 50.0% versus October 2022
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
21
MoM +1 day +5.0% up 1 day, 5.0% versus September 2023 YoY no change no change versus October 2022
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
32
MoM +2 days +6.7% up 2 days, 6.7% versus September 2023 YoY −3.0% down 3.0% versus October 2022
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM −1.0 pp −1.0% down 1.0 pp, 1.0% versus September 2023 YoY +1.0% up 1.0% versus October 2022
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
32.3%
MoM +3.7 pp +13.0% up 3.7 pp, 13.0% versus September 2023 YoY −32.4% down 32.4% versus October 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.
4.2
MoM +0 +3.2% up 0, 3.2% versus September 2023 YoY +60.2% up 60.2% versus October 2022
The month in 60 seconds
- Across all TRREB areas, new listings dropped 11.4% to 14,397 versus September 2023.
- Across all TRREB areas, active listings rose 3.3% to 19,540 versus September 2023.
- Across all TRREB areas, the average sale-to-list ratio edged down 1.0% to 99.0% versus September 2023.
- Across all TRREB areas, the average selling price held steady at $1,125,928 versus September 2023.
- Across all TRREB areas, sales held steady at 4,646 versus September 2023.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
-0.2%
Q2 2023
Toronto employment growth
3.1%
September 2023
Toronto unemployment rate
6.5%
September 2023
Inflation (CPI, year-over-year)
3.8%
September 2023
Bank of Canada overnight rate
5%
October 2023
Prime rate
7.2%
October 2023
1-year mortgage rate
8.09%
October 2023
3-year mortgage rate
7.14%
October 2023
5-year mortgage rate
7.04%
October 2023
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,157 | +8 +0.4% up 8, 0.4% versus September 2023 | $1,450,112 | +$9,326 +0.6% up $9,326, 0.6% versus September 2023 | +5.7% up 5.7% |
| Semi-detached | 428 | +26 +6.5% up 26, 6.5% versus September 2023 | $1,102,721 | +$8,647 +0.8% up $8,647, 0.8% versus September 2023 | +2.2% up 2.2% |
| Att/row/townhouse | 402 | −16 −3.8% down 16, 3.8% versus September 2023 | $1,042,124 | −$952 −0.1% down $952, 0.1% versus September 2023 | +1.8% up 1.8% |
| Condo townhouse | 324 | +1 +0.3% up 1, 0.3% versus September 2023 | $791,299 | −$19,196 −2.4% down $19,196, 2.4% versus September 2023 | −1.5% down 1.5% |
| Condo apartment | 1,296 | −11 −0.8% down 11, 0.8% versus September 2023 | $708,780 | +$1,715 +0.2% up $1,715, 0.2% versus September 2023 | −1.1% down 1.1% |
| Link | 24 | −3 −11.1% down 3, 11.1% versus September 2023 | $1,112,899 | +$52,673 +5.0% up $52,673, 5.0% versus September 2023 | +13.3% up 13.3% |
| Co-op apartment | 8 | +4 +100.0% up 4, 100.0% versus September 2023 | $703,988 | +$402,988 +133.9% up $402,988, 133.9% versus September 2023 | −13.0% down 13.0% |
| Detached condo | 4 | −5 −55.6% down 5, 55.6% versus September 2023 | $832,500 | +$24,778 +3.1% up $24,778, 3.1% versus September 2023 | −21.2% down 21.2% |
| Co-ownership apartment | 3 | no change no change versus September 2023 | $546,333 | +$116,333 +27.1% up $116,333, 27.1% versus September 2023 | −43.2% down 43.2% |
Average price by home type
13 months to October 2023
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jul '23 | 1427257 | 1101876 | 1032117 | 873859 | 735171 |
| Aug '23 | 1416366 | 1067980 | 1022680 | 837863 | 705572 |
| Sep '23 | 1440786 | 1094074 | 1043076 | 810495 | 707065 |
| Oct '23 | 1450112 | 1102721 | 1042124 | 791299 | 708780 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C03 +83.7% up 83.7%
- Toronto C02 +39.5% up 39.5%
- Toronto C12 +38.6% up 38.6%
- Toronto E07 +16.5% up 16.5%
- Toronto W04 +15.1% up 15.1%
Bottom 5
- Toronto W08 −23.9% down 23.9%
- Toronto W01 −19.9% down 19.9%
- Toronto W07 −16.9% down 16.9%
- Scugog −16.8% down 16.8%
- Toronto C09 −13.1% down 13.1%
Sales, month-over-month
Top 5
- Toronto C09 +125.0% up 125.0%
- Toronto W09 +57.9% up 57.9%
- Toronto E03 +50.0% up 50.0%
- Toronto E09 +37.5% up 37.5%
- Toronto C02 +28.0% up 28.0%
Bottom 5
- Toronto C12 −47.4% down 47.4%
- King −36.4% down 36.4%
- Toronto E07 −30.0% down 30.0%
- Brock −30.0% down 30.0%
- Toronto W07 −23.8% down 23.8%
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
32.3%
prior month 28.6%
Months of inventory
4.2
All TRREB areas reads differently on the two balance measures — a buyer's market at 32.3% sales-to-new-listings, but balanced conditions at 4.2 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
32.4%
prior month 26.8%
Months of inventory
4.3
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 32.4% sales-to-new-listings, but balanced conditions at 4.3 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
32.2%
prior month 29.8%
Months of inventory
4.1
905 total reads differently on the two balance measures — a buyer's market at 32.2% sales-to-new-listings, but balanced conditions at 4.1 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
$821,967
- Sales
- 354
- SNLR
- 23.4%
- MOI
- 6.4
Aggregated across 2 districts · View →
Midtown
$1,950,781
- Sales
- 233
- SNLR
- 30.3%
- MOI
- 4.5
Aggregated across 6 districts · View →
Scarborough
$931,642
- Sales
- 316
- SNLR
- 40.3%
- MOI
- 3.2
Aggregated across 8 districts · View →
York Region
$1,293,179
- Sales
- 848
- SNLR
- 32.9%
- MOI
- 4.1
Region total · View →
Durham Region
$931,548
- Sales
- 588
- SNLR
- 33.4%
- MOI
- 3.0
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.