Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,121,615
MoM +$12,895 +1.2% up $12,895, 1.2% versus February 2024 YoY +1.2% up 1.2% versus March 2023
Source: TRREB MarketWatch, March 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2024
In March 2024 the average selling price across the Greater Toronto Area edged up 1.2% to $1,121,615 versus February 2024, and sales jumped 17.0% to 6,560.
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.
$977,297
MoM +$7,297 +0.8% up $7,297, 0.8% versus February 2024 YoY +1.3% up 1.3% versus March 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,113,600
MoM +$19,700 +1.8% up $19,700, 1.8% versus February 2024 YoY +0.3% up 0.3% versus March 2023
Sales — Firm transactions reported through the MLS® System during the month.
6,560
MoM +953 +17.0% up 953, 17.0% versus February 2024 YoY −4.9% down 4.9% versus March 2023
Dollar volume — Total value of all sales in the month.
$7.36B
MoM +$1,141,205,576 +18.4% up $1,141,205,576, 18.4% versus February 2024 YoY −3.8% down 3.8% versus March 2023
New listings — Properties newly listed during the month.
13,120
MoM +1,724 +15.1% up 1,724, 15.1% versus February 2024 YoY +17.3% up 17.3% versus March 2023
Active listings — Listings available at month end.
12,459
MoM +1,357 +12.2% up 1,357, 12.2% versus February 2024 YoY +23.1% up 23.1% versus March 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
20
MoM −5 days −20.0% down 5 days, 20.0% versus February 2024 YoY +5.3% up 5.3% versus March 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
29
MoM −8 days −21.6% down 8 days, 21.6% versus February 2024 YoY +7.4% up 7.4% versus March 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
102%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus February 2024 YoY +1.0% up 1.0% versus March 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
50.0%
MoM +0.8 pp +1.6% up 0.8 pp, 1.6% versus February 2024 YoY −18.9% down 18.9% versus March 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.
1.9
MoM −0 −4.1% down 0, 4.1% versus February 2024 YoY +29.4% up 29.4% versus March 2023
The month in 60 seconds
- Across all TRREB areas, sales jumped 17.0% to 6,560 versus February 2024.
- Across all TRREB areas, new listings jumped 15.1% to 13,120 versus February 2024.
- Across all TRREB areas, active listings jumped 12.2% to 12,459 versus February 2024.
- Across all TRREB areas, the average selling price edged up 1.2% to $1,121,615 versus February 2024.
- Across all TRREB areas, the average sale-to-list ratio held steady at 102.0% versus February 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
1.7%
February 2024
Toronto unemployment rate
7.1%
February 2024
Inflation (CPI, year-over-year)
2.8%
February 2024
Bank of Canada overnight rate
5%
March 2024
Prime rate
7.2%
March 2024
1-year mortgage rate
7.84%
March 2024
3-year mortgage rate
6.99%
March 2024
5-year mortgage rate
6.84%
March 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,893 | +398 +16.0% up 398, 16.0% versus February 2024 | $1,466,397 | +$22,785 +1.6% up $22,785, 1.6% versus February 2024 | −0.2% down 0.2% |
| Semi-detached | 579 | +116 +25.1% up 116, 25.1% versus February 2024 | $1,121,645 | −$2,251 −0.2% down $2,251, 0.2% versus February 2024 | +3.1% up 3.1% |
| Att/row/townhouse | 643 | +89 +16.1% up 89, 16.1% versus February 2024 | $1,039,124 | +$5,113 +0.5% up $5,113, 0.5% versus February 2024 | +0.2% up 0.2% |
| Condo townhouse | 535 | +73 +15.8% up 73, 15.8% versus February 2024 | $821,146 | +$6,734 +0.8% up $6,734, 0.8% versus February 2024 | +1.0% up 1.0% |
| Condo apartment | 1,842 | +256 +16.1% up 256, 16.1% versus February 2024 | $700,046 | +$4,701 +0.7% up $4,701, 0.7% versus February 2024 | −0.5% down 0.5% |
| Link | 45 | +18 +66.7% up 18, 66.7% versus February 2024 | $1,119,039 | +$96,332 +9.4% up $96,332, 9.4% versus February 2024 | −0.2% down 0.2% |
| Co-op apartment | 7 | −2 −22.2% down 2, 22.2% versus February 2024 | $741,057 | +$75,946 +11.4% up $75,946, 11.4% versus February 2024 | +72.8% up 72.8% |
| Detached condo | 11 | +5 +83.3% up 5, 83.3% versus February 2024 | $1,019,126 | −$59,207 −5.5% down $59,207, 5.5% versus February 2024 | +7.1% up 7.1% |
| Co-ownership apartment | 5 | no change no change versus February 2024 | $473,600 | −$12,200 −2.5% down $12,200, 2.5% versus February 2024 | +15.2% up 15.2% |
Average price by home type
13 months to March 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '24 | 1466397 | 1121645 | 1039124 | 821146 | 700046 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +34.2% up 34.2%
- Toronto W09 +22.6% up 22.6%
- Toronto C10 +17.8% up 17.8%
- Toronto C02 +17.2% up 17.2%
- Toronto W01 +16.4% up 16.4%
Bottom 5
- Toronto E08 −18.7% down 18.7%
- Scugog −12.4% down 12.4%
- Toronto E06 −12.3% down 12.3%
- Toronto C07 −12.3% down 12.3%
- Toronto E10 −11.7% down 11.7%
Sales, month-over-month
Top 5
- Toronto C09 +140.0% up 140.0%
- Toronto C07 +102.2% up 102.2%
- East Gwillimbury +60.0% up 60.0%
- Toronto E01 +53.2% up 53.2%
- Toronto E03 +50.9% up 50.9%
Bottom 5
- Brock −28.6% down 28.6%
- Toronto E02 −19.1% down 19.1%
- Toronto C02 −15.7% down 15.7%
- Toronto E05 −9.4% down 9.4%
- Toronto E10 −8.9% down 8.9%
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
50.0%
prior month 49.2%
Months of inventory
1.9
All TRREB areas reads differently on the two balance measures — balanced conditions at 50.0% 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
46.9%
prior month 45.3%
Months of inventory
2.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 46.9% sales-to-new-listings, but a seller's market at 2.4 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
51.8%
prior month 51.6%
Months of inventory
1.6
905 total reads differently on the two balance measures — balanced conditions at 51.8% sales-to-new-listings, but a seller's market at 1.6 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
$844,313
- Sales
- 446
- SNLR
- 34.6%
- MOI
- 4.1
Aggregated across 2 districts · View →
Midtown
$1,619,860
- Sales
- 252
- SNLR
- 46.9%
- MOI
- 2.9
Aggregated across 6 districts · View →
Scarborough
$896,792
- Sales
- 378
- SNLR
- 54.9%
- MOI
- 1.6
Aggregated across 8 districts · View →
York Region
$1,334,655
- Sales
- 1,250
- SNLR
- 50.8%
- MOI
- 1.8
Region total · View →
Durham Region
$936,166
- Sales
- 859
- SNLR
- 58.4%
- 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.