Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,108,720
MoM +$82,017 +8.0% up $82,017, 8.0% versus January 2024 YoY +1.2% up 1.2% versus February 2023
Source: TRREB MarketWatch, February 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2024
In February 2024 the average selling price across the Greater Toronto Area rose 8.0% to $1,108,720 versus January 2024, and sales jumped 32.8% to 5,607.
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.
$970,000
MoM +$80,000 +9.0% up $80,000, 9.0% versus January 2024 YoY +3.2% up 3.2% versus February 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,093,900
MoM +$28,100 +2.6% up $28,100, 2.6% versus January 2024 YoY +0.4% up 0.4% versus February 2023
Sales — Firm transactions reported through the MLS® System during the month.
5,607
MoM +1,384 +32.8% up 1,384, 32.8% versus January 2024 YoY +17.2% up 17.2% versus February 2023
Dollar volume — Total value of all sales in the month.
$6.22B
MoM +$1,880,825,059 +43.4% up $1,880,825,059, 43.4% versus January 2024 YoY +18.6% up 18.6% versus February 2023
New listings — Properties newly listed during the month.
11,396
MoM +3,084 +37.1% up 3,084, 37.1% versus January 2024 YoY +36.2% up 36.2% versus February 2023
Active listings — Listings available at month end.
11,102
MoM +1,009 +10.0% up 1,009, 10.0% versus January 2024 YoY +15.1% up 15.1% versus February 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
25
MoM −12 days −32.4% down 12 days, 32.4% versus January 2024 YoY +13.6% up 13.6% versus February 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
37
MoM −17 days −31.5% down 17 days, 31.5% versus January 2024 YoY +12.1% up 12.1% versus February 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
101%
MoM +3.0 pp +3.1% up 3.0 pp, 3.1% versus January 2024 YoY +1.0% up 1.0% versus February 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
49.2%
MoM −1.6 pp −3.2% down 1.6 pp, 3.2% versus January 2024 YoY −13.9% down 13.9% versus February 2023
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.
2.0
MoM −0 −17.2% down 0, 17.2% versus January 2024 YoY −1.8% down 1.8% versus February 2023
The month in 60 seconds
- Across all TRREB areas, new listings jumped 37.1% to 11,396 versus January 2024.
- Across all TRREB areas, sales jumped 32.8% to 5,607 versus January 2024.
- Across all TRREB areas, active listings jumped 10.0% to 11,102 versus January 2024.
- Across all TRREB areas, the median selling price jumped 9.0% to $970,000 versus January 2024.
- Across all TRREB areas, the average selling price rose 8.0% to $1,108,720 versus January 2024.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1%
Q4 2023
Toronto employment growth
2.4%
January 2024
Toronto unemployment rate
6.8%
January 2024
Inflation (CPI, year-over-year)
2.9%
January 2024
Bank of Canada overnight rate
5%
February 2024
Prime rate
7.2%
February 2024
1-year mortgage rate
7.84%
February 2024
3-year mortgage rate
6.99%
February 2024
5-year mortgage rate
6.84%
February 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,495 | +750 +43.0% up 750, 43.0% versus January 2024 | $1,443,612 | +$92,784 +6.9% up $92,784, 6.9% versus January 2024 | +0.3% up 0.3% |
| Semi-detached | 463 | +120 +35.0% up 120, 35.0% versus January 2024 | $1,123,896 | +$85,593 +8.2% up $85,593, 8.2% versus January 2024 | +5.1% up 5.1% |
| Att/row/townhouse | 554 | +112 +25.3% up 112, 25.3% versus January 2024 | $1,034,011 | +$70,507 +7.3% up $70,507, 7.3% versus January 2024 | −1.6% down 1.6% |
| Condo townhouse | 462 | +139 +43.0% up 139, 43.0% versus January 2024 | $814,412 | +$21,578 +2.7% up $21,578, 2.7% versus January 2024 | +3.7% up 3.7% |
| Condo apartment | 1,586 | +251 +18.8% up 251, 18.8% versus January 2024 | $695,345 | +$13,366 +2.0% up $13,366, 2.0% versus January 2024 | −1.4% down 1.4% |
| Link | 27 | +5 +22.7% up 5, 22.7% versus January 2024 | $1,022,707 | −$22,329 −2.1% down $22,329, 2.1% versus January 2024 | −8.6% down 8.6% |
| Co-op apartment | 9 | +5 +125.0% up 5, 125.0% versus January 2024 | $665,111 | +$245,986 +58.7% up $245,986, 58.7% versus January 2024 | +39.6% up 39.6% |
| Detached condo | 6 | +1 +20.0% up 1, 20.0% versus January 2024 | $1,078,333 | +$427,333 +65.6% up $427,333, 65.6% versus January 2024 | +3.2% up 3.2% |
| Co-ownership apartment | 5 | +1 +25.0% up 1, 25.0% versus January 2024 | $485,800 | −$42,450 −8.0% down $42,450, 8.0% versus January 2024 | +1.5% up 1.5% |
Average price by home type
13 months to February 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '23 | 1403500 | 1060829 | 984357 | 778402 | 710501 |
| Dec '23 | 1418323 | 1027432 | 996162 | 790721 | 682525 |
| Jan '24 | 1350828 | 1038303 | 963504 | 792834 | 681979 |
| Feb '24 | 1443612 | 1123896 | 1034011 | 814412 | 695345 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto E08 +38.3% up 38.3%
- Toronto C11 +31.5% up 31.5%
- Toronto C14 +29.3% up 29.3%
- Toronto W07 +28.8% up 28.8%
- Toronto E07 +23.9% up 23.9%
Bottom 5
- Toronto W01 −18.7% down 18.7%
- Toronto E11 −10.9% down 10.9%
- Toronto C10 −9.3% down 9.3%
- Mississauga −5.0% down 5.0%
- Toronto E04 −4.3% down 4.3%
Sales, month-over-month
Top 5
- Toronto C11 +175.0% up 175.0%
- Toronto W10 +136.4% up 136.4%
- Toronto W03 +122.7% up 122.7%
- Toronto E02 +121.0% up 121.0%
- King +120.0% up 120.0%
Bottom 5
- Toronto E11 −14.3% down 14.3%
- Toronto C08 −5.0% down 5.0%
- Toronto C10 −2.3% down 2.3%
- Toronto E06 no change no change
- Toronto C06 no change no change
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
49.2%
prior month 50.8%
Months of inventory
2.0
All TRREB areas reads differently on the two balance measures — balanced conditions at 49.2% sales-to-new-listings, but a seller's market at 2.0 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
45.3%
prior month 42.6%
Months of inventory
2.5
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 45.3% 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.
905 total
SNLR
51.6%
prior month 56.6%
Months of inventory
1.7
905 total reads differently on the two balance measures — balanced conditions at 51.6% sales-to-new-listings, but a seller's market at 1.7 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
$834,797
- Sales
- 397
- SNLR
- 37.0%
- MOI
- 4.0
Aggregated across 2 districts · View →
Midtown
$1,597,353
- Sales
- 224
- SNLR
- 38.2%
- MOI
- 3.0
Aggregated across 6 districts · View →
Scarborough
$943,136
- Sales
- 357
- SNLR
- 60.6%
- MOI
- 1.6
Aggregated across 8 districts · View →
York Region
$1,324,423
- Sales
- 1,043
- SNLR
- 48.9%
- MOI
- 1.9
Region total · View →
Durham Region
$919,017
- Sales
- 745
- SNLR
- 61.2%
- MOI
- 1.1
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.