Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,106,617
MoM −$55,550 −4.8% down $55,550, 4.8% versus June 2024 YoY −1.1% down 1.1% versus July 2023
Source: TRREB MarketWatch, July 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
July 2024
In July 2024 the average selling price across the Greater Toronto Area fell 4.8% to $1,106,617 versus June 2024, and sales dropped 13.2% to 5,391, though a summer slowdown is the seasonal norm.
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.
$950,000
MoM −$40,000 −4.0% down $40,000, 4.0% versus June 2024 YoY −2.5% down 2.5% versus July 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,097,300
MoM −$13,300 −1.2% down $13,300, 1.2% versus June 2024 YoY −5.0% down 5.0% versus July 2023
Sales — Firm transactions reported through the MLS® System during the month.
5,391
MoM −822 −13.2% down 822, 13.2% versus June 2024 YoY +2.7% up 2.7% versus July 2023
Dollar volume — Total value of all sales in the month.
$5.97B
MoM −$1,254,769,858 −17.4% down $1,254,769,858, 17.4% versus June 2024 YoY +1.6% up 1.6% versus July 2023
New listings — Properties newly listed during the month.
16,296
MoM −1,668 −9.3% down 1,668, 9.3% versus June 2024 YoY +18.8% up 18.8% versus July 2023
Active listings — Listings available at month end.
23,877
MoM +264 +1.1% up 264, 1.1% versus June 2024 YoY +55.3% up 55.3% versus July 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
24
MoM +4 days +20.0% up 4 days, 20.0% versus June 2024 YoY +41.2% up 41.2% versus July 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
36
MoM +6 days +20.0% up 6 days, 20.0% versus June 2024 YoY +50.0% up 50.0% versus July 2023
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 June 2024 YoY −2.9% down 2.9% versus July 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
33.1%
MoM −1.5 pp −4.3% down 1.5 pp, 4.3% versus June 2024 YoY −13.6% down 13.6% versus July 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.
4.4
MoM +1 +16.5% up 1, 16.5% versus June 2024 YoY +51.3% up 51.3% versus July 2023
The month in 60 seconds
- Across all TRREB areas, sales dropped 13.2% to 5,391 versus June 2024.
- Across all TRREB areas, new listings dropped 9.3% to 16,296 versus June 2024.
- Across all TRREB areas, the average selling price fell 4.8% to $1,106,617 versus June 2024.
- Across all TRREB areas, the median selling price fell 4.0% to $950,000 versus June 2024.
- Across all TRREB areas, active listings edged up 1.1% to 23,877 versus June 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%
June 2024
Toronto unemployment rate
7.8%
June 2024
Inflation (CPI, year-over-year)
2.7%
June 2024
Bank of Canada overnight rate
4.5%
July 2024
Prime rate
7%
July 2024
1-year mortgage rate
7.74%
July 2024
3-year mortgage rate
6.94%
July 2024
5-year mortgage rate
6.79%
July 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,446 | −542 −18.1% down 542, 18.1% versus June 2024 | $1,425,927 | −$54,472 −3.7% down $54,472, 3.7% versus June 2024 | −0.1% down 0.1% |
| Semi-detached | 471 | −128 −21.4% down 128, 21.4% versus June 2024 | $1,067,576 | −$35,328 −3.2% down $35,328, 3.2% versus June 2024 | −3.1% down 3.1% |
| Att/row/townhouse | 504 | −63 −11.1% down 63, 11.1% versus June 2024 | $1,018,731 | −$3,135 −0.3% down $3,135, 0.3% versus June 2024 | −1.3% down 1.3% |
| Condo townhouse | 435 | −52 −10.7% down 52, 10.7% versus June 2024 | $794,761 | −$31,507 −3.8% down $31,507, 3.8% versus June 2024 | −9.1% down 9.1% |
| Condo apartment | 1,482 | −38 −2.5% down 38, 2.5% versus June 2024 | $718,698 | −$9,163 −1.3% down $9,163, 1.3% versus June 2024 | −2.2% down 2.2% |
| Link | 37 | +4 +12.1% up 4, 12.1% versus June 2024 | $1,041,216 | −$59,357 −5.4% down $59,357, 5.4% versus June 2024 | −0.3% down 0.3% |
| Co-op apartment | 6 | −3 −33.3% down 3, 33.3% versus June 2024 | $814,483 | +$268,483 +49.2% up $268,483, 49.2% versus June 2024 | +31.7% up 31.7% |
| Detached condo | 4 | −2 −33.3% down 2, 33.3% versus June 2024 | $1,194,750 | +$324,417 +37.3% up $324,417, 37.3% versus June 2024 | +21.1% up 21.1% |
| Co-ownership apartment | 6 | +2 +50.0% up 2, 50.0% versus June 2024 | $444,333 | −$25,542 −5.4% down $25,542, 5.4% versus June 2024 | −15.6% down 15.6% |
Average price by home type
13 months to July 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jul '24 | 1425927 | 1067576 | 1018731 | 794761 | 718698 |
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 +23.7% up 23.7%
- Toronto E10 +16.8% up 16.8%
- Caledon +16.3% up 16.3%
- Toronto W09 +14.0% up 14.0%
- Toronto C14 +10.7% up 10.7%
Bottom 5
- Toronto C09 −37.0% down 37.0%
- Toronto W07 −25.5% down 25.5%
- Toronto C10 −24.2% down 24.2%
- Toronto E02 −20.1% down 20.1%
- Toronto W08 −18.9% down 18.9%
Sales, month-over-month
Top 5
- Toronto C12 +130.0% up 130.0%
- Uxbridge +60.0% up 60.0%
- Toronto E10 +48.1% up 48.1%
- Toronto E07 +29.4% up 29.4%
- Toronto C06 +22.6% up 22.6%
Bottom 5
- Toronto C09 −45.2% down 45.2%
- Toronto W09 −40.0% down 40.0%
- Toronto W05 −37.5% down 37.5%
- Toronto C04 −37.5% down 37.5%
- Toronto E02 −36.8% down 36.8%
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
33.1%
prior month 34.6%
Months of inventory
4.4
All TRREB areas reads differently on the two balance measures — a buyer's market at 33.1% sales-to-new-listings, but balanced conditions at 4.4 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
32.7%
prior month 32.8%
Months of inventory
4.7
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 32.7% sales-to-new-listings, but balanced conditions at 4.7 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
33.3%
prior month 35.7%
Months of inventory
4.3
905 total reads differently on the two balance measures — a buyer's market at 33.3% sales-to-new-listings, but balanced conditions at 4.3 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
$860,862
- Sales
- 406
- SNLR
- 25.0%
- MOI
- 6.9
Aggregated across 2 districts · View →
Midtown
$1,527,282
- Sales
- 231
- SNLR
- 33.3%
- MOI
- 4.9
Aggregated across 6 districts · View →
Scarborough
$958,983
- Sales
- 380
- SNLR
- 38.2%
- MOI
- 3.2
Aggregated across 8 districts · View →
York Region
$1,305,476
- Sales
- 936
- SNLR
- 32.5%
- MOI
- 4.7
Region total · View →
Durham Region
$915,636
- Sales
- 779
- SNLR
- 38.5%
- MOI
- 2.9
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.