Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,084,547
MoM +$43,553 +4.2% up $43,553, 4.2% versus January 2025 YoY −2.2% down 2.2% versus February 2024
Source: TRREB MarketWatch, February 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2025
In February 2025 the average selling price across the Greater Toronto Area rose 4.2% to $1,084,547 versus January 2025, and sales rose 4.9% to 4,037.
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.
$923,000
MoM +$13,000 +1.4% up $13,000, 1.4% versus January 2025 YoY −4.8% down 4.8% versus February 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,073,900
MoM +$3,800 +0.4% up $3,800, 0.4% versus January 2025 YoY −1.8% down 1.8% versus February 2024
Sales — Firm transactions reported through the MLS® System during the month.
4,037
MoM +190 +4.9% up 190, 4.9% versus January 2025 YoY −28.0% down 28.0% versus February 2024
Dollar volume — Total value of all sales in the month.
$4.38B
MoM +$373,611,054 +9.3% up $373,611,054, 9.3% versus January 2025 YoY −29.6% down 29.6% versus February 2024
New listings — Properties newly listed during the month.
12,066
MoM −326 −2.6% down 326, 2.6% versus January 2025 YoY +5.9% up 5.9% versus February 2024
Active listings — Listings available at month end.
19,536
MoM +2,379 +13.9% up 2,379, 13.9% versus January 2025 YoY +76.0% up 76.0% versus February 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
28
MoM −9 days −24.3% down 9 days, 24.3% versus January 2025 YoY +12.0% up 12.0% versus February 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
43
MoM −12 days −21.8% down 12 days, 21.8% versus January 2025 YoY +16.2% up 16.2% versus February 2024
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 January 2025 YoY −2.0% down 2.0% versus February 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
33.5%
MoM +2.4 pp +7.8% up 2.4 pp, 7.8% versus January 2025 YoY −32.0% down 32.0% versus February 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.
4.8
MoM +0 +8.5% up 0, 8.5% versus January 2025 YoY +144.4% up 144.4% versus February 2024
The month in 60 seconds
- Across all TRREB areas, active listings jumped 13.9% to 19,536 versus January 2025.
- Across all TRREB areas, sales rose 4.9% to 4,037 versus January 2025.
- Across all TRREB areas, the average selling price rose 4.2% to $1,084,547 versus January 2025.
- Across all TRREB areas, new listings edged down 2.6% to 12,066 versus January 2025.
- Across all TRREB areas, the median selling price edged up 1.4% to $923,000 versus January 2025.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.6%
Q4 2024
Toronto employment growth
2.5%
December 2024
Toronto unemployment rate
8.4%
December 2024
Inflation (CPI, year-over-year)
1.9%
January 2025
Bank of Canada overnight rate
3%
February 2025
Prime rate
5.2%
February 2025
1-year mortgage rate
6.99%
February 2025
3-year mortgage rate
6.54%
February 2025
5-year mortgage rate
6.49%
February 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,706 | +126 +8.0% up 126, 8.0% versus January 2025 | $1,445,879 | +$68,449 +5.0% up $68,449, 5.0% versus January 2025 | +0.2% up 0.2% |
| Semi-detached | 356 | +7 +2.0% up 7, 2.0% versus January 2025 | $1,079,996 | +$32,268 +3.1% up $32,268, 3.1% versus January 2025 | −3.9% down 3.9% |
| Att/row/townhouse | 404 | −5 −1.2% down 5, 1.2% versus January 2025 | $991,066 | +$7,210 +0.7% up $7,210, 0.7% versus January 2025 | −4.2% down 4.2% |
| Condo townhouse | 296 | −20 −6.3% down 20, 6.3% versus January 2025 | $802,862 | −$43 −0.0% down $43, 0.0% versus January 2025 | −1.4% down 1.4% |
| Condo apartment | 1,225 | +64 +5.5% up 64, 5.5% versus January 2025 | $688,055 | +$17,380 +2.6% up $17,380, 2.6% versus January 2025 | −1.0% down 1.0% |
| Link | 38 | +17 +81.0% up 17, 81.0% versus January 2025 | $1,003,753 | +$15,705 +1.6% up $15,705, 1.6% versus January 2025 | −1.9% down 1.9% |
| Co-op apartment | 5 | −2 −28.6% down 2, 28.6% versus January 2025 | $668,200 | +$110,200 +19.7% up $110,200, 19.7% versus January 2025 | +0.5% up 0.5% |
| Detached condo | 4 | +2 +100.0% up 2, 100.0% versus January 2025 | $794,500 | −$455,500 −36.4% down $455,500, 36.4% versus January 2025 | −26.3% down 26.3% |
| Co-ownership apartment | 3 | +1 +50.0% up 1, 50.0% versus January 2025 | $533,333 | +$140,833 +35.9% up $140,833, 35.9% versus January 2025 | +9.8% up 9.8% |
Average price by home type
13 months to February 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Feb '25 | 1445879 | 1079996 | 991066 | 802862 | 688055 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +138.7% up 138.7%
- Toronto W07 +67.9% up 67.9%
- King +47.2% up 47.2%
- Toronto E11 +24.2% up 24.2%
- Toronto C15 +24.2% up 24.2%
Bottom 5
- Aurora −23.5% down 23.5%
- Toronto C06 −20.6% down 20.6%
- Uxbridge −17.7% down 17.7%
- Toronto W09 −17.5% down 17.5%
- Georgina −15.9% down 15.9%
Sales, month-over-month
Top 5
- Toronto C12 +122.2% up 122.2%
- Toronto C11 +116.7% up 116.7%
- East Gwillimbury +87.0% up 87.0%
- King +80.0% up 80.0%
- Newmarket +80.0% up 80.0%
Bottom 5
- Toronto E11 −54.8% down 54.8%
- Whitchurch-Stouffville −27.8% down 27.8%
- Brampton −25.1% down 25.1%
- Toronto W09 −21.7% down 21.7%
- Toronto E04 −19.1% down 19.1%
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
33.5%
prior month 31.0%
Months of inventory
4.8
All TRREB areas reads differently on the two balance measures — a buyer's market at 33.5% sales-to-new-listings, but balanced conditions at 4.8 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
33.2%
prior month 29.3%
Months of inventory
5.1
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 33.2% sales-to-new-listings, but balanced conditions at 5.1 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
33.6%
prior month 32.1%
Months of inventory
4.7
905 total reads differently on the two balance measures — a buyer's market at 33.6% sales-to-new-listings, but balanced conditions at 4.7 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
$835,960
- Sales
- 320
- SNLR
- 26.7%
- MOI
- 7.1
Aggregated across 2 districts · View →
Midtown
$1,425,932
- Sales
- 209
- SNLR
- 37.3%
- MOI
- 4.5
Aggregated across 6 districts · View →
Scarborough
$941,588
- Sales
- 237
- SNLR
- 34.2%
- MOI
- 4.4
Aggregated across 8 districts · View →
York Region
$1,245,086
- Sales
- 737
- SNLR
- 32.4%
- MOI
- 4.9
Region total · View →
Durham Region
$897,759
- Sales
- 555
- SNLR
- 45.2%
- MOI
- 2.8
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.