Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,120,879
MoM +$13,416 +1.2% up $13,416, 1.2% versus April 2025 YoY −3.8% down 3.8% versus May 2024
Source: TRREB MarketWatch, May 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
May 2025
In May 2025 the average selling price across the Greater Toronto Area edged up 1.2% to $1,120,879 versus April 2025, and sales jumped 11.5% to 6,244.
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.
$955,000
MoM +$5,000 +0.5% up $5,000, 0.5% versus April 2025 YoY −3.7% down 3.7% versus May 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,012,800
MoM +$3,400 +0.3% up $3,400, 0.3% versus April 2025 YoY −4.5% down 4.5% versus May 2024
Sales — Firm transactions reported through the MLS® System during the month.
6,244
MoM +643 +11.5% up 643, 11.5% versus April 2025 YoY −11.0% down 11.0% versus May 2024
Dollar volume — Total value of all sales in the month.
$7.00B
MoM +$795,867,633 +12.8% up $795,867,633, 12.8% versus April 2025 YoY −14.4% down 14.4% versus May 2024
New listings — Properties newly listed during the month.
21,819
MoM +2,983 +15.8% up 2,983, 15.8% versus April 2025 YoY +17.2% up 17.2% versus May 2024
Active listings — Listings available at month end.
30,964
MoM +3,578 +13.1% up 3,578, 13.1% versus April 2025 YoY +42.3% up 42.3% versus May 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
25
MoM no change no change versus April 2025 YoY +31.6% up 31.6% versus May 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
39
MoM +6 days +18.2% up 6 days, 18.2% versus April 2025 YoY +39.3% up 39.3% versus May 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 April 2025 YoY −2.9% down 2.9% versus May 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
28.6%
MoM −1.1 pp −3.8% down 1.1 pp, 3.8% versus April 2025 YoY −24.1% down 24.1% versus May 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.
5.0
MoM +0 +1.4% up 0, 1.4% versus April 2025 YoY +59.8% up 59.8% versus May 2024
The month in 60 seconds
- Across all TRREB areas, new listings jumped 15.8% to 21,819 versus April 2025.
- Across all TRREB areas, active listings jumped 13.1% to 30,964 versus April 2025.
- Across all TRREB areas, sales jumped 11.5% to 6,244 versus April 2025.
- Across all TRREB areas, the average selling price edged up 1.2% to $1,120,879 versus April 2025.
- Across all TRREB areas, the median selling price held steady at $955,000 versus April 2025.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.2%
Q1 2025
Toronto employment growth
2.8%
April 2025
Toronto unemployment rate
8.6%
April 2025
Inflation (CPI, year-over-year)
1.7%
April 2025
Bank of Canada overnight rate
2.8%
May 2025
Prime rate
5%
May 2025
1-year mortgage rate
6.09%
May 2025
3-year mortgage rate
6.05%
May 2025
5-year mortgage rate
6.09%
May 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,998 | +442 +17.3% up 442, 17.3% versus April 2025 | $1,425,264 | −$6,231 −0.4% down $6,231, 0.4% versus April 2025 | −5.4% down 5.4% |
| Semi-detached | 617 | +52 +9.2% up 52, 9.2% versus April 2025 | $1,098,447 | +$9,599 +0.9% up $9,599, 0.9% versus April 2025 | −6.4% down 6.4% |
| Att/row/townhouse | 650 | +79 +13.8% up 79, 13.8% versus April 2025 | $995,662 | −$9,825 −1.0% down $9,825, 1.0% versus April 2025 | −4.3% down 4.3% |
| Condo townhouse | 421 | +9 +2.2% up 9, 2.2% versus April 2025 | $763,172 | −$20,763 −2.6% down $20,763, 2.6% versus April 2025 | −8.8% down 8.8% |
| Condo apartment | 1,482 | +52 +3.6% up 52, 3.6% versus April 2025 | $683,413 | +$5,365 +0.8% up $5,365, 0.8% versus April 2025 | −6.5% down 6.5% |
| Link | 54 | +6 +12.5% up 6, 12.5% versus April 2025 | $947,691 | −$53,850 −5.4% down $53,850, 5.4% versus April 2025 | −12.0% down 12.0% |
| Co-op apartment | 6 | −3 −33.3% down 3, 33.3% versus April 2025 | $491,000 | −$356,667 −42.1% down $356,667, 42.1% versus April 2025 | −36.6% down 36.6% |
| Detached condo | 11 | +8 +266.7% up 8, 266.7% versus April 2025 | $935,364 | −$308,603 −24.8% down $308,603, 24.8% versus April 2025 | −7.3% down 7.3% |
| Co-ownership apartment | 5 | −2 −28.6% down 2, 28.6% versus April 2025 | $475,900 | +$98,400 +26.1% up $98,400, 26.1% versus April 2025 | −9.3% down 9.3% |
Average price by home type
13 months to May 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Mar '25 | 1439268 | 1111791 | 1001043 | 789129 | 682019 |
| Apr '25 | 1431495 | 1088848 | 1005487 | 783935 | 678048 |
| May '25 | 1425264 | 1098447 | 995662 | 763172 | 683413 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +29.5% up 29.5%
- Toronto C06 +27.8% up 27.8%
- Brock +26.2% up 26.2%
- Toronto E06 +21.5% up 21.5%
- Toronto C12 +20.1% up 20.1%
Bottom 5
- Toronto W05 −12.3% down 12.3%
- Toronto C15 −11.6% down 11.6%
- Toronto C04 −11.4% down 11.4%
- Toronto C02 −11.4% down 11.4%
- Toronto W01 −10.7% down 10.7%
Sales, month-over-month
Top 5
- Toronto C09 +100.0% up 100.0%
- Georgina +47.8% up 47.8%
- King +45.5% up 45.5%
- Toronto E08 +42.9% up 42.9%
- Toronto E11 +42.9% up 42.9%
Bottom 5
- Toronto W03 −29.6% down 29.6%
- Toronto C06 −20.0% down 20.0%
- Toronto E07 −10.6% down 10.6%
- Toronto E10 −8.9% down 8.9%
- Toronto C03 −7.4% down 7.4%
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
28.6%
prior month 29.7%
Months of inventory
5.0
All TRREB areas reads differently on the two balance measures — a buyer's market at 28.6% sales-to-new-listings, but balanced conditions at 5.0 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
29.4%
prior month 30.0%
Months of inventory
5.1
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 29.4% 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
28.2%
prior month 29.6%
Months of inventory
4.9
905 total reads differently on the two balance measures — a buyer's market at 28.2% 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
$877,591
- Sales
- 428
- SNLR
- 23.3%
- MOI
- 7.2
Aggregated across 2 districts · View →
Midtown
$1,804,332
- Sales
- 319
- SNLR
- 31.8%
- MOI
- 4.5
Aggregated across 6 districts · View →
Scarborough
$913,685
- Sales
- 399
- SNLR
- 33.7%
- MOI
- 4.2
Aggregated across 8 districts · View →
York Region
$1,282,040
- Sales
- 1,005
- SNLR
- 25.0%
- MOI
- 5.9
Region total · View →
Durham Region
$905,702
- Sales
- 850
- SNLR
- 34.5%
- MOI
- 3.3
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.