Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,006,735
MoM −$32,723 −3.1% down $32,723, 3.1% versus November 2025 YoY −5.7% down 5.7% versus December 2024
Source: TRREB MarketWatch, December 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
December 2025
In December 2025 the average selling price across the Greater Toronto Area fell 3.1% to $1,006,735 versus November 2025, and sales dropped 26.2% to 3,697, 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.
$850,000
MoM −$25,000 −2.9% down $25,000, 2.9% versus November 2025 YoY −8.6% down 8.6% versus December 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$942,300
MoM −$9,400 −1.0% down $9,400, 1.0% versus November 2025 YoY −6.3% down 6.3% versus December 2024
Sales — Firm transactions reported through the MLS® System during the month.
3,697
MoM −1,313 −26.2% down 1,313, 26.2% versus November 2025 YoY +10.1% up 10.1% versus December 2024
Dollar volume — Total value of all sales in the month.
$3.72B
MoM −$1,485,785,313 −28.5% down $1,485,785,313, 28.5% versus November 2025 YoY +3.8% up 3.8% versus December 2024
New listings — Properties newly listed during the month.
5,299
MoM −5,835 −52.4% down 5,835, 52.4% versus November 2025 YoY +13.2% up 13.2% versus December 2024
Active listings — Listings available at month end.
17,005
MoM −7,544 −30.7% down 7,544, 30.7% versus November 2025 YoY +10.5% up 10.5% versus December 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
41
MoM +7 days +20.6% up 7 days, 20.6% versus November 2025 YoY +13.9% up 13.9% versus December 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
65
MoM +9 days +16.1% up 9 days, 16.1% versus November 2025 YoY +16.1% up 16.1% versus December 2024
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
97%
MoM no change no change versus November 2025 YoY −1.0% down 1.0% versus December 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
69.8%
MoM +24.8 pp +55.0% up 24.8 pp, 55.0% versus November 2025 YoY −2.8% down 2.8% versus December 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.
4.6
MoM −0 −6.1% down 0, 6.1% versus November 2025 YoY +0.4% up 0.4% versus December 2024
The month in 60 seconds
- Across all TRREB areas, new listings dropped 52.4% to 5,299 versus November 2025.
- Across all TRREB areas, active listings dropped 30.7% to 17,005 versus November 2025.
- Across all TRREB areas, sales dropped 26.2% to 3,697 versus November 2025.
- Across all TRREB areas, the average selling price fell 3.1% to $1,006,735 versus November 2025.
- Across all TRREB areas, the median selling price edged down 2.9% to $850,000 versus November 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%
Q3 2025
Toronto employment growth
0.8%
October 2025
Toronto unemployment rate
8.7%
October 2025
Inflation (CPI, year-over-year)
2.2%
October 2025
Bank of Canada overnight rate
2.3%
November 2025
Prime rate
4.5%
November 2025
1-year mortgage rate
5.84%
November 2025
3-year mortgage rate
6.05%
November 2025
5-year mortgage rate
6.09%
November 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 1,690 | −606 −26.4% down 606, 26.4% versus November 2025 | $1,302,980 | −$43,037 −3.2% down $43,037, 3.2% versus November 2025 | −6.9% down 6.9% |
| Semi-detached | 323 | −162 −33.4% down 162, 33.4% versus November 2025 | $957,357 | −$40,142 −4.0% down $40,142, 4.0% versus November 2025 | −12.1% down 12.1% |
| Att/row/townhouse | 340 | −176 −34.1% down 176, 34.1% versus November 2025 | $972,915 | +$59,837 +6.6% up $59,837, 6.6% versus November 2025 | −4.2% down 4.2% |
| Condo townhouse | 273 | −78 −22.2% down 78, 22.2% versus November 2025 | $723,920 | +$5,729 +0.8% up $5,729, 0.8% versus November 2025 | −5.7% down 5.7% |
| Condo apartment | 1,029 | −270 −20.8% down 270, 20.8% versus November 2025 | $628,029 | −$35,261 −5.3% down $35,261, 5.3% versus November 2025 | −7.9% down 7.9% |
| Link | 31 | −13 −29.5% down 13, 29.5% versus November 2025 | $870,529 | −$8,035 −0.9% down $8,035, 0.9% versus November 2025 | −13.6% down 13.6% |
| Co-op apartment | 1 | −6 −85.7% down 6, 85.7% versus November 2025 | $260,000 | −$127,643 −32.9% down $127,643, 32.9% versus November 2025 | −32.8% down 32.8% |
| Detached condo | 8 | +2 +33.3% up 2, 33.3% versus November 2025 | $987,313 | +$203,313 +25.9% up $203,313, 25.9% versus November 2025 | +18.0% up 18.0% |
| Co-ownership apartment | 2 | −4 −66.7% down 4, 66.7% versus November 2025 | $415,000 | −$5,333 −1.3% down $5,333, 1.3% versus November 2025 | −15.3% down 15.3% |
Average price by home type
13 months to December 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Oct '25 | 1355506 | 1033770 | 935042 | 735123 | 660208 |
| Nov '25 | 1346017 | 997499 | 913078 | 718191 | 663290 |
| Dec '25 | 1302980 | 957357 | 972915 | 723920 | 628029 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Whitchurch-Stouffville +31.5% up 31.5%
- Toronto C03 +31.4% up 31.4%
- Toronto C11 +30.5% up 30.5%
- Toronto E10 +23.9% up 23.9%
- Toronto C15 +23.1% up 23.1%
Bottom 5
- King −29.1% down 29.1%
- Toronto C12 −23.3% down 23.3%
- Toronto C10 −22.8% down 22.8%
- Toronto W02 −18.4% down 18.4%
- Toronto C06 −18.1% down 18.1%
Sales, month-over-month
Top 5
- Toronto C14 +33.3% up 33.3%
- Brock +11.1% up 11.1%
- Toronto C12 +10.5% up 10.5%
- Toronto W03 no change no change
- Toronto E05 −5.1% down 5.1%
Bottom 5
- Toronto E02 −51.2% down 51.2%
- Toronto E01 −50.8% down 50.8%
- Toronto C06 −45.8% down 45.8%
- Scugog −45.8% down 45.8%
- Uxbridge −45.0% down 45.0%
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
69.8%
prior month 45.0%
Months of inventory
4.6
All TRREB areas reads differently on the two balance measures — a seller's market at 69.8% 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
69.9%
prior month 45.8%
Months of inventory
4.7
City of Toronto (416) reads differently on the two balance measures — a seller's market at 69.9% sales-to-new-listings, but balanced conditions at 4.7 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
69.7%
prior month 44.5%
Months of inventory
4.5
905 total reads differently on the two balance measures — a seller's market at 69.7% sales-to-new-listings, but balanced conditions at 4.5 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
$732,104
- Sales
- 279
- SNLR
- 59.9%
- MOI
- 5.5
Aggregated across 2 districts · View →
Midtown
$1,677,427
- Sales
- 159
- SNLR
- 71.9%
- MOI
- 5.0
Aggregated across 6 districts · View →
Scarborough
$799,563
- Sales
- 231
- SNLR
- 67.0%
- MOI
- 4.3
Aggregated across 8 districts · View →
York Region
$1,204,046
- Sales
- 683
- SNLR
- 69.6%
- MOI
- 4.9
Region total · View →
Durham Region
$844,473
- Sales
- 455
- SNLR
- 86.0%
- 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.