Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,040,994
MoM −$26,192 −2.5% down $26,192, 2.5% versus December 2024 YoY +1.4% up 1.4% versus January 2024
Source: TRREB MarketWatch, January 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
January 2025
In January 2025 the average selling price across the Greater Toronto Area edged down 2.5% to $1,040,994 versus December 2024, and sales jumped 14.5% to 3,847, though a quieter January after the December holidays 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.
$910,000
MoM −$20,000 −2.2% down $20,000, 2.2% versus December 2024 YoY +2.2% up 2.2% versus January 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,070,100
MoM +$8,200 +0.8% up $8,200, 0.8% versus December 2024 YoY +0.4% up 0.4% versus January 2024
Sales — Firm transactions reported through the MLS® System during the month.
3,847
MoM +488 +14.5% up 488, 14.5% versus December 2024 YoY −8.9% down 8.9% versus January 2024
Dollar volume — Total value of all sales in the month.
$4.00B
MoM +$420,027,568 +11.7% up $420,027,568, 11.7% versus December 2024 YoY −7.6% down 7.6% versus January 2024
New listings — Properties newly listed during the month.
12,392
MoM +7,711 +164.7% up 7,711, 164.7% versus December 2024 YoY +49.1% up 49.1% versus January 2024
Active listings — Listings available at month end.
17,157
MoM +1,764 +11.5% up 1,764, 11.5% versus December 2024 YoY +70.0% up 70.0% versus January 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
37
MoM +1 day +2.8% up 1 day, 2.8% versus December 2024 YoY no change no change versus January 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
55
MoM −1 day −1.8% down 1 day, 1.8% versus December 2024 YoY +1.9% up 1.9% versus January 2024
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% up 1.0 pp, 1.0% versus December 2024 YoY +1.0% up 1.0% versus January 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
31.0%
MoM −40.7 pp −56.7% down 40.7 pp, 56.7% versus December 2024 YoY −38.9% down 38.9% versus January 2024
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.
4.5
MoM −0 −2.7% down 0, 2.7% versus December 2024 YoY +86.6% up 86.6% versus January 2024
The month in 60 seconds
- Across all TRREB areas, new listings jumped 164.7% to 12,392 versus December 2024.
- Across all TRREB areas, sales jumped 14.5% to 3,847 versus December 2024.
- Across all TRREB areas, active listings jumped 11.5% to 17,157 versus December 2024.
- Across all TRREB areas, the average selling price edged down 2.5% to $1,040,994 versus December 2024.
- Across all TRREB areas, the median selling price edged down 2.2% to $910,000 versus December 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
2.5%
December 2024
Toronto unemployment rate
8.4%
December 2024
Inflation (CPI, year-over-year)
1.8%
December 2024
Bank of Canada overnight rate
3%
January 2025
Prime rate
5.5%
January 2025
1-year mortgage rate
7.24%
January 2025
3-year mortgage rate
6.54%
January 2025
5-year mortgage rate
6.49%
January 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,580 | +157 +11.0% up 157, 11.0% versus December 2024 | $1,377,430 | −$21,779 −1.6% down $21,779, 1.6% versus December 2024 | +2.0% up 2.0% |
| Semi-detached | 349 | +57 +19.5% up 57, 19.5% versus December 2024 | $1,047,728 | −$40,815 −3.7% down $40,815, 3.7% versus December 2024 | +0.9% up 0.9% |
| Att/row/townhouse | 409 | +32 +8.5% up 32, 8.5% versus December 2024 | $983,856 | −$31,649 −3.1% down $31,649, 3.1% versus December 2024 | +2.1% up 2.1% |
| Condo townhouse | 316 | +40 +14.5% up 40, 14.5% versus December 2024 | $802,905 | +$35,217 +4.6% up $35,217, 4.6% versus December 2024 | +1.3% up 1.3% |
| Condo apartment | 1,161 | +201 +20.9% up 201, 20.9% versus December 2024 | $670,675 | −$11,180 −1.6% down $11,180, 1.6% versus December 2024 | −1.7% down 1.7% |
| Link | 21 | no change no change versus December 2024 | $988,048 | −$19,351 −1.9% down $19,351, 1.9% versus December 2024 | −5.5% down 5.5% |
| Co-op apartment | 7 | +4 +133.3% up 4, 133.3% versus December 2024 | $558,000 | +$171,005 +44.2% up $171,005, 44.2% versus December 2024 | +33.1% up 33.1% |
| Detached condo | 2 | no change no change versus December 2024 | $1,250,000 | +$413,500 +49.4% up $413,500, 49.4% versus December 2024 | +92.0% up 92.0% |
| Co-ownership apartment | 2 | −3 −60.0% down 3, 60.0% versus December 2024 | $392,500 | −$97,660 −19.9% down $97,660, 19.9% versus December 2024 | −25.7% down 25.7% |
Average price by home type
13 months to January 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jan '25 | 1377430 | 1047728 | 983856 | 802905 | 670675 |
Movers this month
Ranked across 53 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +149.9% up 149.9%
- Toronto C06 +20.4% up 20.4%
- Toronto E08 +17.9% up 17.9%
- Toronto E05 +15.6% up 15.6%
- Uxbridge +15.0% up 15.0%
Bottom 5
- Toronto W07 −43.3% down 43.3%
- Toronto C03 −43.0% down 43.0%
- Toronto C14 −20.1% down 20.1%
- Toronto C15 −20.0% down 20.0%
- King −19.4% down 19.4%
Sales, month-over-month
Top 5
- Toronto W07 +100.0% up 100.0%
- Toronto C09 +85.7% up 85.7%
- Toronto E11 +82.6% up 82.6%
- Toronto E08 +76.5% up 76.5%
- Toronto W04 +68.0% up 68.0%
Bottom 5
- Aurora −33.3% down 33.3%
- Newmarket −32.7% down 32.7%
- Uxbridge −26.7% down 26.7%
- King −23.1% down 23.1%
- Toronto E10 −22.2% down 22.2%
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
31.0%
prior month 71.8%
Months of inventory
4.5
All TRREB areas reads differently on the two balance measures — a buyer's market at 31.0% sales-to-new-listings, but balanced conditions at 4.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
29.3%
prior month 65.8%
Months of inventory
5.0
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 29.3% sales-to-new-listings, but balanced conditions at 5.0 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
32.1%
prior month 75.4%
Months of inventory
4.2
905 total reads differently on the two balance measures — a buyer's market at 32.1% 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
$817,684
- Sales
- 269
- SNLR
- 19.9%
- MOI
- 7.7
Aggregated across 2 districts · View →
Midtown
$1,516,315
- Sales
- 150
- SNLR
- 26.5%
- MOI
- 5.4
Aggregated across 6 districts · View →
Scarborough
$837,640
- Sales
- 267
- SNLR
- 39.5%
- MOI
- 3.4
Aggregated across 8 districts · View →
York Region
$1,216,183
- Sales
- 620
- SNLR
- 28.6%
- MOI
- 5.0
Region total · View →
Durham Region
$896,611
- Sales
- 489
- SNLR
- 40.3%
- 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.