Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,107,291
MoM +$32,866 +3.1% up $32,866, 3.1% versus August 2024 YoY −1.1% down 1.1% versus September 2023
Source: TRREB MarketWatch, September 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
September 2024
In September 2024 the average selling price across the Greater Toronto Area rose 3.1% to $1,107,291 versus August 2024, and sales held steady at 4,996.
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 +$25,000 +2.7% up $25,000, 2.7% versus August 2024 YoY −1.0% down 1.0% versus September 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,068,700
MoM −$13,500 −1.2% down $13,500, 1.2% versus August 2024 YoY −4.6% down 4.6% versus September 2023
Sales — Firm transactions reported through the MLS® System during the month.
4,996
MoM +21 +0.4% up 21, 0.4% versus August 2024 YoY +7.6% up 7.6% versus September 2023
Dollar volume — Total value of all sales in the month.
$5.53B
MoM +$186,762,862 +3.5% up $186,762,862, 3.5% versus August 2024 YoY +6.5% up 6.5% versus September 2023
New listings — Properties newly listed during the month.
18,089
MoM +5,542 +44.2% up 5,542, 44.2% versus August 2024 YoY +11.3% up 11.3% versus September 2023
Active listings — Listings available at month end.
25,612
MoM +2,959 +13.1% up 2,959, 13.1% versus August 2024 YoY +35.4% up 35.4% versus September 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
27
MoM −1 day −3.6% down 1 day, 3.6% versus August 2024 YoY +35.0% up 35.0% versus September 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
43
MoM −1 day −2.3% down 1 day, 2.3% versus August 2024 YoY +43.3% up 43.3% versus September 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM no change no change versus August 2024 YoY −1.0% down 1.0% versus September 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
27.6%
MoM −12.0 pp −30.3% down 12.0 pp, 30.3% versus August 2024 YoY −3.3% down 3.3% versus September 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.
5.1
MoM +1 +12.6% up 1, 12.6% versus August 2024 YoY +25.8% up 25.8% versus September 2023
The month in 60 seconds
- Across all TRREB areas, new listings jumped 44.2% to 18,089 versus August 2024.
- Across all TRREB areas, active listings jumped 13.1% to 25,612 versus August 2024.
- Across all TRREB areas, the average selling price rose 3.1% to $1,107,291 versus August 2024.
- Across all TRREB areas, the median selling price edged up 2.7% to $950,000 versus August 2024.
- Across all TRREB areas, sales held steady at 4,996 versus August 2024.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.1%
Q2 2024
Toronto employment growth
1.5%
August 2024
Toronto unemployment rate
8%
August 2024
Inflation (CPI, year-over-year)
2%
August 2024
Bank of Canada overnight rate
4.3%
September 2024
Prime rate
6.5%
September 2024
1-year mortgage rate
7.24%
September 2024
3-year mortgage rate
6.54%
September 2024
5-year mortgage rate
6.49%
September 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,354 | +136 +6.1% up 136, 6.1% versus August 2024 | $1,423,056 | +$8,986 +0.6% up $8,986, 0.6% versus August 2024 | −1.2% down 1.2% |
| Semi-detached | 446 | +19 +4.4% up 19, 4.4% versus August 2024 | $1,090,749 | +$64,314 +6.3% up $64,314, 6.3% versus August 2024 | −0.3% down 0.3% |
| Att/row/townhouse | 496 | no change no change versus August 2024 | $982,656 | −$8,651 −0.9% down $8,651, 0.9% versus August 2024 | −5.8% down 5.8% |
| Condo townhouse | 344 | −32 −8.5% down 32, 8.5% versus August 2024 | $791,077 | +$30,327 +4.0% up $30,327, 4.0% versus August 2024 | −2.4% down 2.4% |
| Condo apartment | 1,312 | −105 −7.4% down 105, 7.4% versus August 2024 | $682,543 | +$7,837 +1.2% up $7,837, 1.2% versus August 2024 | −3.5% down 3.5% |
| Link | 27 | −4 −12.9% down 4, 12.9% versus August 2024 | $999,659 | +$17,067 +1.7% up $17,067, 1.7% versus August 2024 | −5.7% down 5.7% |
| Co-op apartment | 3 | −4 −57.1% down 4, 57.1% versus August 2024 | $402,167 | −$214,333 −34.8% down $214,333, 34.8% versus August 2024 | +33.6% up 33.6% |
| Detached condo | 10 | +8 +400.0% up 8, 400.0% versus August 2024 | $1,070,300 | +$297,800 +38.6% up $297,800, 38.6% versus August 2024 | +32.5% up 32.5% |
| Co-ownership apartment | 4 | +3 +300.0% up 3, 300.0% versus August 2024 | $438,750 | −$20,250 −4.4% down $20,250, 4.4% versus August 2024 | +2.0% up 2.0% |
Average price by home type
13 months to September 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Aug '24 | 1414070 | 1026435 | 991307 | 760750 | 674706 |
| Sep '24 | 1423056 | 1090749 | 982656 | 791077 | 682543 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W01 +32.6% up 32.6%
- Toronto C02 +31.4% up 31.4%
- Toronto W02 +31.4% up 31.4%
- Toronto C03 +30.2% up 30.2%
- Toronto W07 +24.6% up 24.6%
Bottom 5
- King −17.5% down 17.5%
- Uxbridge −17.3% down 17.3%
- Whitchurch-Stouffville −16.1% down 16.1%
- Toronto W03 −11.0% down 11.0%
- Toronto E03 −10.9% down 10.9%
Sales, month-over-month
Top 5
- Toronto W10 +74.1% up 74.1%
- Toronto C11 +57.9% up 57.9%
- Toronto C03 +57.1% up 57.1%
- Toronto E03 +52.6% up 52.6%
- Toronto E01 +47.1% up 47.1%
Bottom 5
- Toronto C08 −28.1% down 28.1%
- Pickering −26.5% down 26.5%
- King −21.7% down 21.7%
- Toronto E04 −21.7% down 21.7%
- East Gwillimbury −21.2% down 21.2%
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
27.6%
prior month 39.6%
Months of inventory
5.1
All TRREB areas reads differently on the two balance measures — a buyer's market at 27.6% sales-to-new-listings, but balanced conditions at 5.1 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
25.6%
prior month 41.1%
Months of inventory
5.5
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 25.6% sales-to-new-listings, but balanced conditions at 5.5 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
28.9%
prior month 38.9%
Months of inventory
4.9
905 total reads differently on the two balance measures — a buyer's market at 28.9% sales-to-new-listings, but balanced conditions at 4.9 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
$860,103
- Sales
- 347
- SNLR
- 21.5%
- MOI
- 7.8
Aggregated across 2 districts · View →
Midtown
$1,766,220
- Sales
- 223
- SNLR
- 22.3%
- MOI
- 5.8
Aggregated across 6 districts · View →
Scarborough
$905,436
- Sales
- 311
- SNLR
- 29.5%
- MOI
- 4.3
Aggregated across 8 districts · View →
York Region
$1,263,790
- Sales
- 875
- SNLR
- 25.8%
- MOI
- 5.6
Region total · View →
Durham Region
$894,499
- Sales
- 672
- SNLR
- 34.2%
- MOI
- 3.6
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.