Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,067,186
MoM −$38,864 −3.5% down $38,864, 3.5% versus November 2024 YoY −1.6% down 1.6% versus December 2023
Source: TRREB MarketWatch, December 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
December 2024
In December 2024 the average selling price across the Greater Toronto Area fell 3.5% to $1,067,186 versus November 2024, and sales dropped 42.8% to 3,359, though a December 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.
$930,000
MoM −$15,000 −1.6% down $15,000, 1.6% versus November 2024 YoY +2.3% up 2.3% versus December 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,061,900
MoM +$200 +0.0% up $200, 0.0% versus November 2024 YoY +0.1% up 0.1% versus December 2023
Sales — Firm transactions reported through the MLS® System during the month.
3,359
MoM −2,516 −42.8% down 2,516, 42.8% versus November 2024 YoY −2.5% down 2.5% versus December 2023
Dollar volume — Total value of all sales in the month.
$3.58B
MoM −$2,913,368,855 −44.8% down $2,913,368,855, 44.8% versus November 2024 YoY −4.0% down 4.0% versus December 2023
New listings — Properties newly listed during the month.
4,681
MoM −6,911 −59.6% down 6,911, 59.6% versus November 2024 YoY +20.5% up 20.5% versus December 2023
Active listings — Listings available at month end.
15,393
MoM −6,425 −29.4% down 6,425, 29.4% versus November 2024 YoY +48.4% up 48.4% versus December 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
36
MoM +5 days +16.1% up 5 days, 16.1% versus November 2024 YoY +12.5% up 12.5% versus December 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
56
MoM +7 days +14.3% up 7 days, 14.3% versus November 2024 YoY +14.3% up 14.3% versus December 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM −1.0 pp −1.0% down 1.0 pp, 1.0% versus November 2024 YoY +1.0% up 1.0% versus December 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
71.8%
MoM +21.1 pp +41.6% up 21.1 pp, 41.6% versus November 2024 YoY −19.0% down 19.0% versus December 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.
4.6
MoM +1 +23.4% up 1, 23.4% versus November 2024 YoY +52.2% up 52.2% versus December 2023
The month in 60 seconds
- Across all TRREB areas, new listings dropped 59.6% to 4,681 versus November 2024.
- Across all TRREB areas, sales dropped 42.8% to 3,359 versus November 2024.
- Across all TRREB areas, active listings dropped 29.4% to 15,393 versus November 2024.
- Across all TRREB areas, the average selling price fell 3.5% to $1,067,186 versus November 2024.
- Across all TRREB areas, the median selling price edged down 1.6% to $930,000 versus November 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
2.2%
November 2024
Toronto unemployment rate
8.1%
November 2024
Inflation (CPI, year-over-year)
1.9%
November 2024
Bank of Canada overnight rate
3.3%
December 2024
Prime rate
5.5%
December 2024
1-year mortgage rate
7.24%
December 2024
3-year mortgage rate
6.54%
December 2024
5-year mortgage rate
6.49%
December 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,423 | −1,246 −46.7% down 1,246, 46.7% versus November 2024 | $1,399,209 | −$53,309 −3.7% down $53,309, 3.7% versus November 2024 | −1.3% down 1.3% |
| Semi-detached | 292 | −210 −41.8% down 210, 41.8% versus November 2024 | $1,088,543 | +$11,289 +1.0% up $11,289, 1.0% versus November 2024 | +5.9% up 5.9% |
| Att/row/townhouse | 377 | −205 −35.2% down 205, 35.2% versus November 2024 | $1,015,505 | +$21,254 +2.1% up $21,254, 2.1% versus November 2024 | +1.9% up 1.9% |
| Condo townhouse | 276 | −151 −35.4% down 151, 35.4% versus November 2024 | $767,688 | +$14,336 +1.9% up $14,336, 1.9% versus November 2024 | −2.9% down 2.9% |
| Condo apartment | 960 | −680 −41.5% down 680, 41.5% versus November 2024 | $681,855 | −$7,744 −1.1% down $7,744, 1.1% versus November 2024 | −0.1% down 0.1% |
| Link | 21 | −12 −36.4% down 12, 36.4% versus November 2024 | $1,007,399 | −$15,359 −1.5% down $15,359, 1.5% versus November 2024 | −6.4% down 6.4% |
| Co-op apartment | 3 | −9 −75.0% down 9, 75.0% versus November 2024 | $386,995 | −$354,130 −47.8% down $354,130, 47.8% versus November 2024 | −64.1% down 64.1% |
| Detached condo | 2 | −4 −66.7% down 4, 66.7% versus November 2024 | $836,500 | +$24,083 +3.0% up $24,083, 3.0% versus November 2024 | +28.9% up 28.9% |
| Co-ownership apartment | 5 | +1 +25.0% up 1, 25.0% versus November 2024 | $490,160 | +$65,410 +15.4% up $65,410, 15.4% versus November 2024 | +5.9% up 5.9% |
Average price by home type
13 months to December 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Dec '24 | 1399209 | 1088543 | 1015505 | 767688 | 681855 |
Movers this month
Ranked across 51 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C03 +46.3% up 46.3%
- Toronto C10 +20.5% up 20.5%
- Toronto C13 +16.3% up 16.3%
- Toronto C08 +16.3% up 16.3%
- Whitby +13.9% up 13.9%
Bottom 5
- Toronto C06 −22.6% down 22.6%
- Toronto C04 −17.1% down 17.1%
- Toronto W08 −16.9% down 16.9%
- Toronto C11 −16.5% down 16.5%
- Caledon −16.4% down 16.4%
Sales, month-over-month
Top 5
- Scugog no change no change
- Uxbridge −6.3% down 6.3%
- Toronto C06 −9.1% down 9.1%
- Richmond Hill −19.5% down 19.5%
- Georgina −25.4% down 25.4%
Bottom 5
- Toronto W04 −66.7% down 66.7%
- Clarington −65.0% down 65.0%
- Toronto C04 −64.8% down 64.8%
- Toronto E01 −62.5% down 62.5%
- Toronto C11 −60.0% down 60.0%
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
71.8%
prior month 50.7%
Months of inventory
4.6
All TRREB areas reads differently on the two balance measures — a seller's market at 71.8% sales-to-new-listings, but balanced conditions at 4.6 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
65.8%
prior month 51.3%
Months of inventory
5.3
City of Toronto (416) reads differently on the two balance measures — a seller's market at 65.8% sales-to-new-listings, but balanced conditions at 5.3 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
75.4%
prior month 50.3%
Months of inventory
4.2
905 total reads differently on the two balance measures — a seller's market at 75.4% sales-to-new-listings, but balanced conditions at 4.2 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
$842,011
- Sales
- 239
- SNLR
- 52.8%
- MOI
- 7.5
Aggregated across 2 districts · View →
Midtown
$1,573,190
- Sales
- 121
- SNLR
- 70.3%
- MOI
- 6.0
Aggregated across 6 districts · View →
Scarborough
$852,744
- Sales
- 213
- SNLR
- 68.7%
- MOI
- 4.1
Aggregated across 8 districts · View →
York Region
$1,268,118
- Sales
- 665
- SNLR
- 86.1%
- MOI
- 4.0
Region total · View →
Durham Region
$930,207
- Sales
- 404
- SNLR
- 83.1%
- MOI
- 3.1
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.