Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,162,167
MoM −$3,524 −0.3% down $3,524, 0.3% versus May 2024 YoY −1.7% down 1.7% versus June 2023
Source: TRREB MarketWatch, June 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
June 2024
In June 2024 the average selling price across the Greater Toronto Area held steady at $1,162,167 versus May 2024, and sales dropped 11.4% to 6,213.
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.
$990,000
MoM −$2,000 −0.2% down $2,000, 0.2% versus May 2024 YoY −2.0% down 2.0% versus June 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,110,600
MoM −$6,800 −0.6% down $6,800, 0.6% versus May 2024 YoY −4.6% down 4.6% versus June 2023
Sales — Firm transactions reported through the MLS® System during the month.
6,213
MoM −800 −11.4% down 800, 11.4% versus May 2024 YoY −16.9% down 16.9% versus June 2023
Dollar volume — Total value of all sales in the month.
$7.22B
MoM −$954,447,312 −11.7% down $954,447,312, 11.7% versus May 2024 YoY −18.4% down 18.4% versus June 2023
New listings — Properties newly listed during the month.
17,964
MoM −648 −3.5% down 648, 3.5% versus May 2024 YoY +13.2% up 13.2% versus June 2023
Active listings — Listings available at month end.
23,613
MoM +1,853 +8.5% up 1,853, 8.5% versus May 2024 YoY +67.4% up 67.4% versus June 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
20
MoM +1 day +5.3% up 1 day, 5.3% versus May 2024 YoY +42.9% up 42.9% versus June 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
30
MoM +2 days +7.1% up 2 days, 7.1% versus May 2024 YoY +57.9% up 57.9% versus June 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
100%
MoM −2.0 pp −2.0% down 2.0 pp, 2.0% versus May 2024 YoY −3.8% down 3.8% versus June 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
34.6%
MoM −3.1 pp −8.2% down 3.1 pp, 8.2% versus May 2024 YoY −26.7% down 26.7% versus June 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.
3.8
MoM +1 +22.5% up 1, 22.5% versus May 2024 YoY +101.5% up 101.5% versus June 2023
The month in 60 seconds
- Across all TRREB areas, sales dropped 11.4% to 6,213 versus May 2024.
- Across all TRREB areas, active listings jumped 8.5% to 23,613 versus May 2024.
- Across all TRREB areas, new listings fell 3.5% to 17,964 versus May 2024.
- Across all TRREB areas, the average sale-to-list ratio edged down 2.0% to 100.0% versus May 2024.
- Across all TRREB areas, the average selling price held steady at $1,162,167 versus May 2024.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1.7%
Q1 2024
Toronto employment growth
1.4%
May 2024
Toronto unemployment rate
7.9%
May 2024
Inflation (CPI, year-over-year)
2.9%
May 2024
Bank of Canada overnight rate
4.8%
July 2024
Prime rate
7%
June 2024
1-year mortgage rate
7.84%
June 2024
3-year mortgage rate
6.99%
June 2024
5-year mortgage rate
6.84%
June 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,988 | −250 −7.7% down 250, 7.7% versus May 2024 | $1,480,399 | −$26,276 −1.7% down $26,276, 1.7% versus May 2024 | −3.3% down 3.3% |
| Semi-detached | 599 | −17 −2.8% down 17, 2.8% versus May 2024 | $1,102,904 | −$70,915 −6.0% down $70,915, 6.0% versus May 2024 | −9.2% down 9.2% |
| Att/row/townhouse | 567 | −57 −9.1% down 57, 9.1% versus May 2024 | $1,021,866 | −$18,275 −1.8% down $18,275, 1.8% versus May 2024 | −6.1% down 6.1% |
| Condo townhouse | 487 | −38 −7.2% down 38, 7.2% versus May 2024 | $826,268 | −$10,374 −1.2% down $10,374, 1.2% versus May 2024 | −3.0% down 3.0% |
| Condo apartment | 1,520 | −422 −21.7% down 422, 21.7% versus May 2024 | $727,861 | −$2,954 −0.4% down $2,954, 0.4% versus May 2024 | −1.6% down 1.6% |
| Link | 33 | −9 −21.4% down 9, 21.4% versus May 2024 | $1,100,573 | +$23,390 +2.2% up $23,390, 2.2% versus May 2024 | −4.1% down 4.1% |
| Co-op apartment | 9 | −5 −35.7% down 5, 35.7% versus May 2024 | $546,000 | −$228,707 −29.5% down $228,707, 29.5% versus May 2024 | −36.6% down 36.6% |
| Detached condo | 6 | −1 −14.3% down 1, 14.3% versus May 2024 | $870,333 | −$139,167 −13.8% down $139,167, 13.8% versus May 2024 | −13.7% down 13.7% |
| Co-ownership apartment | 4 | −1 −20.0% down 1, 20.0% versus May 2024 | $469,875 | −$54,683 −10.4% down $54,683, 10.4% versus May 2024 | −4.5% down 4.5% |
Average price by home type
13 months to June 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Apr '24 | 1516070 | 1139929 | 1044986 | 841266 | 728067 |
| May '24 | 1506675 | 1173819 | 1040141 | 836642 | 730815 |
| Jun '24 | 1480399 | 1102904 | 1021866 | 826268 | 727861 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +38.7% up 38.7%
- Toronto C06 +19.8% up 19.8%
- Toronto W01 +16.0% up 16.0%
- Toronto W08 +15.4% up 15.4%
- King +14.4% up 14.4%
Bottom 5
- Toronto E11 −15.1% down 15.1%
- Toronto C02 −14.4% down 14.4%
- Georgina −12.2% down 12.2%
- Toronto C03 −12.0% down 12.0%
- Toronto E10 −9.3% down 9.3%
Sales, month-over-month
Top 5
- Scugog +56.0% up 56.0%
- King +28.6% up 28.6%
- Toronto C13 +22.4% up 22.4%
- Toronto E11 +14.6% up 14.6%
- Toronto W05 +14.3% up 14.3%
Bottom 5
- Toronto C12 −61.5% down 61.5%
- Toronto E10 −46.0% down 46.0%
- Toronto E07 −39.3% down 39.3%
- Toronto W01 −35.5% down 35.5%
- Toronto C02 −33.7% down 33.7%
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
34.6%
prior month 37.7%
Months of inventory
3.8
All TRREB areas reads differently on the two balance measures — a buyer's market at 34.6% sales-to-new-listings, but a seller's market at 3.8 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
32.8%
prior month 36.7%
Months of inventory
4.3
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 32.8% 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
35.7%
prior month 38.3%
Months of inventory
3.5
905 total reads differently on the two balance measures — a buyer's market at 35.7% sales-to-new-listings, but a seller's market at 3.5 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
$872,856
- Sales
- 401
- SNLR
- 23.0%
- MOI
- 7.3
Aggregated across 2 districts · View →
Midtown
$1,770,135
- Sales
- 317
- SNLR
- 39.4%
- MOI
- 3.7
Aggregated across 6 districts · View →
Scarborough
$959,363
- Sales
- 355
- SNLR
- 35.2%
- MOI
- 3.3
Aggregated across 8 districts · View →
York Region
$1,385,139
- Sales
- 1,082
- SNLR
- 34.2%
- MOI
- 3.9
Region total · View →
Durham Region
$956,428
- Sales
- 877
- SNLR
- 39.3%
- MOI
- 2.5
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.