Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,106,050
MoM −$29,165 −2.6% down $29,165, 2.6% versus October 2024 YoY +2.2% up 2.2% versus November 2023
Source: TRREB MarketWatch, November 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
November 2024
In November 2024 the average selling price across the Greater Toronto Area edged down 2.6% to $1,106,050 versus October 2024, and sales dropped 11.8% to 5,875.
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.
$945,000
MoM −$15,000 −1.6% down $15,000, 1.6% versus October 2024 YoY +1.8% up 1.8% versus November 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,061,700
MoM +$1,400 +0.1% up $1,400, 0.1% versus October 2024 YoY −1.2% down 1.2% versus November 2023
Sales — Firm transactions reported through the MLS® System during the month.
5,875
MoM −783 −11.8% down 783, 11.8% versus October 2024 YoY +38.7% up 38.7% versus November 2023
Dollar volume — Total value of all sales in the month.
$6.50B
MoM −$1,060,216,997 −14.0% down $1,060,216,997, 14.0% versus October 2024 YoY +41.8% up 41.8% versus November 2023
New listings — Properties newly listed during the month.
11,592
MoM −3,736 −24.4% down 3,736, 24.4% versus October 2024 YoY +9.9% up 9.9% versus November 2023
Active listings — Listings available at month end.
21,818
MoM −2,663 −10.9% down 2,663, 10.9% versus October 2024 YoY +30.2% up 30.2% versus November 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
31
MoM +4 days +14.8% up 4 days, 14.8% versus October 2024 YoY +24.0% up 24.0% versus November 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
49
MoM +6 days +14.0% up 6 days, 14.0% versus October 2024 YoY +25.6% up 25.6% versus November 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 October 2024 YoY +1.0% up 1.0% versus November 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
50.7%
MoM +7.2 pp +16.7% up 7.2 pp, 16.7% versus October 2024 YoY +26.2% up 26.2% versus November 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.
3.7
MoM +0 +1.0% up 0, 1.0% versus October 2024 YoY −6.1% down 6.1% versus November 2023
The month in 60 seconds
- Across all TRREB areas, new listings dropped 24.4% to 11,592 versus October 2024.
- Across all TRREB areas, sales dropped 11.8% to 5,875 versus October 2024.
- Across all TRREB areas, active listings dropped 10.9% to 21,818 versus October 2024.
- Across all TRREB areas, the average selling price edged down 2.6% to $1,106,050 versus October 2024.
- Across all TRREB areas, the median selling price edged down 1.6% to $945,000 versus October 2024.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1%
Q3 2024
Toronto employment growth
2.3%
October 2024
Toronto unemployment rate
8%
October 2024
Inflation (CPI, year-over-year)
2%
October 2024
Bank of Canada overnight rate
3.8%
November 2024
Prime rate
6%
November 2024
1-year mortgage rate
7.24%
November 2024
3-year mortgage rate
6.54%
November 2024
5-year mortgage rate
6.49%
November 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,669 | −470 −15.0% down 470, 15.0% versus October 2024 | $1,452,518 | −$10,320 −0.7% down $10,320, 0.7% versus October 2024 | +3.5% up 3.5% |
| Semi-detached | 502 | −110 −18.0% down 110, 18.0% versus October 2024 | $1,077,254 | −$31,122 −2.8% down $31,122, 2.8% versus October 2024 | +1.5% up 1.5% |
| Att/row/townhouse | 582 | −99 −14.5% down 99, 14.5% versus October 2024 | $994,251 | −$13,166 −1.3% down $13,166, 1.3% versus October 2024 | +1.0% up 1.0% |
| Condo townhouse | 427 | −15 −3.4% down 15, 3.4% versus October 2024 | $753,352 | −$32,475 −4.1% down $32,475, 4.1% versus October 2024 | −3.2% down 3.2% |
| Condo apartment | 1,640 | −82 −4.8% down 82, 4.8% versus October 2024 | $689,599 | −$4,439 −0.6% down $4,439, 0.6% versus October 2024 | −2.9% down 2.9% |
| Link | 33 | −6 −15.4% down 6, 15.4% versus October 2024 | $1,022,758 | −$5,890 −0.6% down $5,890, 0.6% versus October 2024 | +9.8% up 9.8% |
| Co-op apartment | 12 | +2 +20.0% up 2, 20.0% versus October 2024 | $741,125 | +$52,875 +7.7% up $52,875, 7.7% versus October 2024 | +18.9% up 18.9% |
| Detached condo | 6 | −4 −40.0% down 4, 40.0% versus October 2024 | $812,417 | −$302,583 −27.1% down $302,583, 27.1% versus October 2024 | −20.0% down 20.0% |
| Co-ownership apartment | 4 | +1 +33.3% up 1, 33.3% versus October 2024 | $424,750 | −$48,483 −10.2% down $48,483, 10.2% versus October 2024 | +7.3% up 7.3% |
Average price by home type
13 months to November 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Oct '24 | 1462838 | 1108376 | 1007417 | 785827 | 694038 |
| Nov '24 | 1452518 | 1077254 | 994251 | 753352 | 689599 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Uxbridge +32.8% up 32.8%
- East Gwillimbury +23.9% up 23.9%
- Toronto C06 +13.8% up 13.8%
- Scugog +13.0% up 13.0%
- Toronto W08 +12.2% up 12.2%
Bottom 5
- Toronto C10 −30.6% down 30.6%
- Toronto C11 −20.6% down 20.6%
- Toronto C02 −18.7% down 18.7%
- Toronto W01 −15.9% down 15.9%
- Toronto C12 −14.3% down 14.3%
Sales, month-over-month
Top 5
- Toronto W09 +33.3% up 33.3%
- Toronto W04 +31.6% up 31.6%
- Toronto W07 +30.0% up 30.0%
- Whitchurch-Stouffville +25.0% up 25.0%
- Toronto C15 +19.6% up 19.6%
Bottom 5
- Scugog −63.2% down 63.2%
- Toronto W02 −45.7% down 45.7%
- Toronto E08 −44.0% down 44.0%
- Toronto W05 −36.1% down 36.1%
- Toronto C03 −31.4% down 31.4%
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
50.7%
prior month 43.4%
Months of inventory
3.7
All TRREB areas reads differently on the two balance measures — balanced conditions at 50.7% sales-to-new-listings, but a seller's market at 3.7 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
51.3%
prior month 42.1%
Months of inventory
3.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 51.3% sales-to-new-listings, but a seller's market at 3.9 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
50.3%
prior month 44.3%
Months of inventory
3.6
905 total reads differently on the two balance measures — balanced conditions at 50.3% sales-to-new-listings, but a seller's market at 3.6 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
$771,800
- Sales
- 415
- SNLR
- 39.4%
- MOI
- 5.7
Aggregated across 2 districts · View →
Midtown
$1,678,405
- Sales
- 279
- SNLR
- 52.0%
- MOI
- 3.8
Aggregated across 6 districts · View →
Scarborough
$892,375
- Sales
- 366
- SNLR
- 52.2%
- MOI
- 3.3
Aggregated across 8 districts · View →
York Region
$1,307,833
- Sales
- 1,087
- SNLR
- 53.0%
- MOI
- 3.7
Region total · View →
Durham Region
$904,226
- Sales
- 739
- SNLR
- 61.7%
- 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.