Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,059,377
MoM +$37,234 +3.6% up $37,234, 3.6% versus August 2025 YoY −4.3% down 4.3% versus September 2024
Source: TRREB MarketWatch, September 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
September 2025
In September 2025 the average selling price across the Greater Toronto Area rose 3.6% to $1,059,377 versus August 2025, and sales rose 7.3% to 5,592.
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.
$909,500
MoM +$22,500 +2.5% up $22,500, 2.5% versus August 2025 YoY −4.3% down 4.3% versus September 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$960,300
MoM −$9,400 −1.0% down $9,400, 1.0% versus August 2025 YoY −5.5% down 5.5% versus September 2024
Sales — Firm transactions reported through the MLS® System during the month.
5,592
MoM +381 +7.3% up 381, 7.3% versus August 2025 YoY +11.9% up 11.9% versus September 2024
Dollar volume — Total value of all sales in the month.
$5.92B
MoM +$597,649,322 +11.2% up $597,649,322, 11.2% versus August 2025 YoY +7.1% up 7.1% versus September 2024
New listings — Properties newly listed during the month.
19,260
MoM +5,222 +37.2% up 5,222, 37.2% versus August 2025 YoY +6.5% up 6.5% versus September 2024
Active listings — Listings available at month end.
29,394
MoM +1,899 +6.9% up 1,899, 6.9% versus August 2025 YoY +14.8% up 14.8% versus September 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
33
MoM no change no change versus August 2025 YoY +22.2% up 22.2% versus September 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
51
MoM +2 days +4.1% up 2 days, 4.1% versus August 2025 YoY +18.6% up 18.6% versus September 2024
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% up 1.0 pp, 1.0% versus August 2025 YoY −1.0% down 1.0% versus September 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
29.0%
MoM −8.1 pp −21.8% down 8.1 pp, 21.8% versus August 2025 YoY +5.1% up 5.1% versus September 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.
5.3
MoM −0 −0.4% down 0, 0.4% versus August 2025 YoY +2.5% up 2.5% versus September 2024
The month in 60 seconds
- Across all TRREB areas, new listings jumped 37.2% to 19,260 versus August 2025.
- Across all TRREB areas, sales rose 7.3% to 5,592 versus August 2025.
- Across all TRREB areas, active listings rose 6.9% to 29,394 versus August 2025.
- Across all TRREB areas, the average selling price rose 3.6% to $1,059,377 versus August 2025.
- Across all TRREB areas, the median selling price edged up 2.5% to $909,500 versus August 2025.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
-1.6%
Q2 2025
Toronto employment growth
1.3%
July 2025
Toronto unemployment rate
9%
July 2025
Inflation (CPI, year-over-year)
1.7%
July 2025
Bank of Canada overnight rate
2.8%
August 2025
Prime rate
5%
August 2025
1-year mortgage rate
6.09%
August 2025
3-year mortgage rate
6.05%
August 2025
5-year mortgage rate
6.09%
August 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,661 | +250 +10.4% up 250, 10.4% versus August 2025 | $1,359,030 | +$46,790 +3.6% up $46,790, 3.6% versus August 2025 | −4.5% down 4.5% |
| Semi-detached | 506 | +65 +14.7% up 65, 14.7% versus August 2025 | $1,015,543 | +$35,441 +3.6% up $35,441, 3.6% versus August 2025 | −6.9% down 6.9% |
| Att/row/townhouse | 517 | −24 −4.4% down 24, 4.4% versus August 2025 | $947,928 | +$1,533 +0.2% up $1,533, 0.2% versus August 2025 | −3.5% down 3.5% |
| Condo townhouse | 408 | +22 +5.7% up 22, 5.7% versus August 2025 | $747,658 | +$8,317 +1.1% up $8,317, 1.1% versus August 2025 | −5.5% down 5.5% |
| Condo apartment | 1,437 | +68 +5.0% up 68, 5.0% versus August 2025 | $655,231 | +$13,036 +2.0% up $13,036, 2.0% versus August 2025 | −4.0% down 4.0% |
| Link | 48 | +1 +2.1% up 1, 2.1% versus August 2025 | $919,126 | −$7,263 −0.8% down $7,263, 0.8% versus August 2025 | −8.1% down 8.1% |
| Co-op apartment | 7 | no change no change versus August 2025 | $1,119,571 | +$515,857 +85.4% up $515,857, 85.4% versus August 2025 | +178.4% up 178.4% |
| Detached condo | 3 | −3 −50.0% down 3, 50.0% versus August 2025 | $936,833 | +$136,000 +17.0% up $136,000, 17.0% versus August 2025 | −12.5% down 12.5% |
| Co-ownership apartment | 5 | +2 +66.7% up 2, 66.7% versus August 2025 | $467,018 | +$57,518 +14.0% up $57,518, 14.0% versus August 2025 | +6.4% up 6.4% |
Average price by home type
13 months to September 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jun '25 | 1392033 | 1089751 | 965792 | 761106 | 696424 |
| Jul '25 | 1361660 | 1041359 | 929524 | 743469 | 651483 |
| Aug '25 | 1312240 | 980102 | 946395 | 739341 | 642195 |
| Sep '25 | 1359030 | 1015543 | 947928 | 747658 | 655231 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C11 +59.3% up 59.3%
- Toronto C09 +35.4% up 35.4%
- Toronto C07 +30.1% up 30.1%
- Toronto W01 +29.3% up 29.3%
- Toronto C08 +28.8% up 28.8%
Bottom 5
- Brock −21.7% down 21.7%
- Toronto C06 −20.2% down 20.2%
- King −19.7% down 19.7%
- Toronto E02 −15.7% down 15.7%
- Toronto C13 −14.4% down 14.4%
Sales, month-over-month
Top 5
- Toronto E02 +117.4% up 117.4%
- Toronto C09 +109.1% up 109.1%
- Toronto W02 +105.7% up 105.7%
- Toronto C04 +62.2% up 62.2%
- Toronto C07 +47.9% up 47.9%
Bottom 5
- Toronto W04 −31.7% down 31.7%
- Toronto W10 −18.4% down 18.4%
- Caledon −16.9% down 16.9%
- Toronto W07 −13.6% down 13.6%
- Toronto E07 −12.8% down 12.8%
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
29.0%
prior month 37.1%
Months of inventory
5.3
All TRREB areas reads differently on the two balance measures — a buyer's market at 29.0% sales-to-new-listings, but balanced conditions at 5.3 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
28.7%
prior month 39.2%
Months of inventory
5.2
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 28.7% sales-to-new-listings, but balanced conditions at 5.2 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
29.2%
prior month 36.1%
Months of inventory
5.3
905 total reads differently on the two balance measures — a buyer's market at 29.2% sales-to-new-listings, but balanced conditions at 5.3 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
$838,440
- Sales
- 393
- SNLR
- 26.4%
- MOI
- 6.4
Aggregated across 2 districts · View →
Midtown
$1,826,767
- Sales
- 234
- SNLR
- 24.0%
- MOI
- 5.7
Aggregated across 6 districts · View →
Scarborough
$857,571
- Sales
- 365
- SNLR
- 32.3%
- MOI
- 4.5
Aggregated across 8 districts · View →
York Region
$1,180,765
- Sales
- 1,032
- SNLR
- 29.4%
- MOI
- 5.5
Region total · View →
Durham Region
$877,963
- Sales
- 707
- SNLR
- 34.0%
- MOI
- 4.0
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.