Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$809,305
MoM +$4,721 +0.6% up $4,721, 0.6% versus April 2018 YoY −6.3% down 6.3% versus May 2017
Source: TRREB MarketWatch, May 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
May 2018
In May 2018 the average selling price across the Greater Toronto Area held steady at $809,305 versus April 2018, and sales rose 7.8% to 8,402.
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.
$685,000
MoM +$100 +0.0% up $100, 0.0% versus April 2018 YoY −3.5% down 3.5% versus May 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$770,900
MoM +$4,600 +0.6% up $4,600, 0.6% versus April 2018 YoY −5.4% down 5.4% versus May 2017
Sales — Firm transactions reported through the MLS® System during the month.
8,402
MoM +610 +7.8% up 610, 7.8% versus April 2018 YoY −17.6% down 17.6% versus May 2017
Dollar volume — Total value of all sales in the month.
$6.80B
MoM +$530,459,831 +8.5% up $530,459,831, 8.5% versus April 2018 YoY −22.8% down 22.8% versus May 2017
New listings — Properties newly listed during the month.
19,237
MoM +2,964 +18.2% up 2,964, 18.2% versus April 2018 YoY −25.5% down 25.5% versus May 2017
Active listings — Listings available at month end.
20,919
MoM +2,713 +14.9% up 2,713, 14.9% versus April 2018 YoY +13.2% up 13.2% versus May 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
20
MoM no change no change versus April 2018 YoY +81.8% up 81.8% versus May 2017
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 2018 YoY −4.8% down 4.8% versus May 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
43.7%
MoM −4.2 pp −8.8% down 4.2 pp, 8.8% versus April 2018 YoY +10.7% up 10.7% versus May 2017
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.
2.5
MoM +0 +6.6% up 0, 6.6% versus April 2018 YoY +37.4% up 37.4% versus May 2017
The month in 60 seconds
- Across all TRREB areas, new listings jumped 18.2% to 19,237 versus April 2018.
- Across all TRREB areas, active listings jumped 14.9% to 20,919 versus April 2018.
- Across all TRREB areas, sales rose 7.8% to 8,402 versus April 2018.
- Across all TRREB areas, the average selling price held steady at $809,305 versus April 2018.
- Across all TRREB areas, the median selling price held steady at $685,000 versus April 2018.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.9%
Q2 2018
Toronto employment growth
2.2%
May 2018
Toronto unemployment rate
6.2%
May 2018
Inflation (CPI, year-over-year)
2.2%
May 2018
Bank of Canada overnight rate
1.25%
May 2018
Prime rate
3.45%
May 2018
1-year mortgage rate
3.49%
May 2018
3-year mortgage rate
4.3%
May 2018
5-year mortgage rate
5.34%
May 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,716 | +265 +7.7% up 265, 7.7% versus April 2018 | $1,030,832 | +$729 +0.1% up $729, 0.1% versus April 2018 | −9.7% down 9.7% |
| Semi-detached | 797 | +83 +11.6% up 83, 11.6% versus April 2018 | $812,163 | +$19,778 +2.5% up $19,778, 2.5% versus April 2018 | −1.5% down 1.5% |
| Att/row/townhouse | 754 | +9 +1.2% up 9, 1.2% versus April 2018 | $705,631 | +$7,121 +1.0% up $7,121, 1.0% versus April 2018 | −3.0% down 3.0% |
| Condo townhouse | 594 | +52 +9.6% up 52, 9.6% versus April 2018 | $569,324 | −$2,532 −0.4% down $2,532, 0.4% versus April 2018 | −1.1% down 1.1% |
| Condo apartment | 2,388 | +170 +7.7% up 170, 7.7% versus April 2018 | $563,237 | +$3,894 +0.7% up $3,894, 0.7% versus April 2018 | +5.9% up 5.9% |
| Link | 130 | +23 +21.5% up 23, 21.5% versus April 2018 | $703,289 | +$33,496 +5.0% up $33,496, 5.0% versus April 2018 | −6.6% down 6.6% |
| Co-op apartment | 8 | +1 +14.3% up 1, 14.3% versus April 2018 | $617,250 | +$241,107 +64.1% up $241,107, 64.1% versus April 2018 | −9.5% down 9.5% |
| Detached condo | 10 | +5 +100.0% up 5, 100.0% versus April 2018 | $808,300 | +$271,700 +50.6% up $271,700, 50.6% versus April 2018 | −2.4% down 2.4% |
| Co-ownership apartment | 5 | +2 +66.7% up 2, 66.7% versus April 2018 | $446,400 | +$202,400 +83.0% up $202,400, 83.0% versus April 2018 | +34.3% up 34.3% |
Average price by home type
13 months to May 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| May '17 | 1141041 | 824667 | 727729 | 575925 | 531659 |
| Jun '17 | 1055863 | 773879 | 688364 | 551338 | 519784 |
| Jul '17 | 1000336 | 704207 | 665440 | 541144 | 501750 |
| Aug '17 | 968494 | 715167 | 665551 | 535066 | 507841 |
| Sep '17 | 1015067 | 752379 | 663335 | 547540 | 520411 |
| Oct '17 | 1008207 | 764293 | 692241 | 555226 | 523041 |
| Nov '17 | 996527 | 730668 | 698436 | 547709 | 516965 |
| Dec '17 | 989870 | 730726 | 662596 | 519961 | 503968 |
| Jan '18 | 970823 | 715784 | 697792 | 519936 | 507492 |
| Feb '18 | 1000736 | 756894 | 684427 | 578002 | 529782 |
| Mar '18 | 1005779 | 782831 | 690438 | 574404 | 551003 |
| Apr '18 | 1030103 | 792385 | 698510 | 571856 | 559343 |
| May '18 | 1030832 | 812163 | 705631 | 569324 | 563237 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +30.7% up 30.7%
- Toronto C09 +16.0% up 16.0%
- Scugog +15.5% up 15.5%
- Toronto W07 +12.2% up 12.2%
- Toronto W10 +9.9% up 9.9%
Bottom 5
- Brock −21.7% down 21.7%
- Toronto E08 −11.5% down 11.5%
- Georgina −10.5% down 10.5%
- Toronto C12 −9.1% down 9.1%
- Toronto W03 −9.0% down 9.0%
Sales, month-over-month
Top 5
- King +68.2% up 68.2%
- Toronto E03 +64.7% up 64.7%
- Toronto W09 +50.0% up 50.0%
- Toronto W10 +49.1% up 49.1%
- Toronto W03 +40.4% up 40.4%
Bottom 5
- Toronto E06 −39.0% down 39.0%
- Toronto C11 −38.2% down 38.2%
- Toronto C12 −31.0% down 31.0%
- Toronto W01 −10.4% down 10.4%
- Clarington −8.6% down 8.6%
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
43.7%
prior month 47.9%
Months of inventory
2.5
All TRREB areas reads differently on the two balance measures — balanced conditions at 43.7% sales-to-new-listings, but a seller's market at 2.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
51.4%
prior month 55.6%
Months of inventory
1.8
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 51.4% sales-to-new-listings, but a seller's market at 1.8 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
39.8%
prior month 44.2%
Months of inventory
3.0
905 total reads differently on the two balance measures — a buyer's market at 39.8% sales-to-new-listings, but a seller's market at 3.0 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
$754,823
- Sales
- 734
- SNLR
- 56.6%
- MOI
- 1.3
Aggregated across 2 districts · View →
Midtown
$1,455,159
- Sales
- 372
- SNLR
- 52.3%
- MOI
- 1.7
Aggregated across 6 districts · View →
Scarborough
$631,754
- Sales
- 538
- SNLR
- 48.6%
- MOI
- 2.0
Aggregated across 8 districts · View →
York Region
$933,873
- Sales
- 1,233
- SNLR
- 29.8%
- MOI
- 4.6
Region total · View →
Durham Region
$596,591
- Sales
- 919
- SNLR
- 40.4%
- MOI
- 2.5
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.