Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$782,129
MoM −$25,742 −3.2% down $25,742, 3.2% versus June 2018 YoY +4.8% up 4.8% versus July 2017
Source: TRREB MarketWatch, July 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
July 2018
In July 2018 the average selling price across the Greater Toronto Area fell 3.2% to $782,129 versus June 2018, and sales dropped 13.9% to 6,961, though a summer 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.
$670,000
MoM −$12,000 −1.8% down $12,000, 1.8% versus June 2018 YoY +7.0% up 7.0% versus July 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$768,400
MoM −$3,700 −0.5% down $3,700, 0.5% versus June 2018 YoY −0.6% down 0.6% versus July 2017
Sales — Firm transactions reported through the MLS® System during the month.
6,961
MoM −1,121 −13.9% down 1,121, 13.9% versus June 2018 YoY +17.6% up 17.6% versus July 2017
Dollar volume — Total value of all sales in the month.
$5.44B
MoM −$1,084,814,564 −16.6% down $1,084,814,564, 16.6% versus June 2018 YoY +23.2% up 23.2% versus July 2017
New listings — Properties newly listed during the month.
13,868
MoM −2,054 −12.9% down 2,054, 12.9% versus June 2018 YoY −2.1% down 2.1% versus July 2017
Active listings — Listings available at month end.
19,725
MoM −1,119 −5.4% down 1,119, 5.4% versus June 2018 YoY +5.2% up 5.2% versus July 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
25
MoM +4 days +19.0% up 4 days, 19.0% versus June 2018 YoY +19.0% up 19.0% versus July 2017
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% down 1.0 pp, 1.0% versus June 2018 YoY no change no change versus July 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
50.2%
MoM −0.6 pp −1.1% down 0.6 pp, 1.1% versus June 2018 YoY +20.1% up 20.1% versus July 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.
2.8
MoM +0 +9.9% up 0, 9.9% versus June 2018 YoY −10.5% down 10.5% versus July 2017
The month in 60 seconds
- Across all TRREB areas, sales dropped 13.9% to 6,961 versus June 2018.
- Across all TRREB areas, new listings dropped 12.9% to 13,868 versus June 2018.
- Across all TRREB areas, active listings fell 5.4% to 19,725 versus June 2018.
- Across all TRREB areas, the average selling price fell 3.2% to $782,129 versus June 2018.
- Across all TRREB areas, the median selling price edged down 1.8% to $670,000 versus June 2018.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1.3%
Q1 2018
Toronto employment growth
2.3%
June 2018
Toronto unemployment rate
6.3%
June 2018
Inflation (CPI, year-over-year)
2.5%
June 2018
Bank of Canada overnight rate
1.5%
July 2018
Prime rate
3.7%
July 2018
1-year mortgage rate
3.49%
July 2018
3-year mortgage rate
4.3%
July 2018
5-year mortgage rate
5.34%
July 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,062 | −527 −14.7% down 527, 14.7% versus June 2018 | $1,004,647 | −$28,927 −2.8% down $28,927, 2.8% versus June 2018 | +0.4% up 0.4% |
| Semi-detached | 608 | −208 −25.5% down 208, 25.5% versus June 2018 | $746,843 | −$40,384 −5.1% down $40,384, 5.1% versus June 2018 | +6.1% up 6.1% |
| Att/row/townhouse | 648 | −54 −7.7% down 54, 7.7% versus June 2018 | $680,309 | −$11,803 −1.7% down $11,803, 1.7% versus June 2018 | +2.2% up 2.2% |
| Condo townhouse | 525 | −105 −16.7% down 105, 16.7% versus June 2018 | $576,826 | −$2,074 −0.4% down $2,074, 0.4% versus June 2018 | +6.6% up 6.6% |
| Condo apartment | 2,002 | −232 −10.4% down 232, 10.4% versus June 2018 | $546,984 | −$14,113 −2.5% down $14,113, 2.5% versus June 2018 | +9.0% up 9.0% |
| Link | 96 | +5 +5.5% up 5, 5.5% versus June 2018 | $665,751 | −$17,246 −2.5% down $17,246, 2.5% versus June 2018 | −0.1% down 0.1% |
| Co-op apartment | 10 | no change no change versus June 2018 | $605,010 | +$112,249 +22.8% up $112,249, 22.8% versus June 2018 | +52.1% up 52.1% |
| Detached condo | 8 | no change no change versus June 2018 | $596,250 | −$117,750 −16.5% down $117,750, 16.5% versus June 2018 | −28.4% down 28.4% |
| Co-ownership apartment | 2 | no change no change versus June 2018 | $310,500 | +$66,000 +27.0% up $66,000, 27.0% versus June 2018 | −9.1% down 9.1% |
Average price by home type
13 months to July 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jun '18 | 1033574 | 787227 | 692112 | 578900 | 561097 |
| Jul '18 | 1004647 | 746843 | 680309 | 576826 | 546984 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W09 +20.9% up 20.9%
- Toronto E02 +18.2% up 18.2%
- Toronto C09 +16.7% up 16.7%
- Toronto C15 +11.2% up 11.2%
- Vaughan +7.2% up 7.2%
Bottom 5
- Toronto E06 −29.2% down 29.2%
- Toronto W01 −18.2% down 18.2%
- Toronto E03 −15.5% down 15.5%
- Uxbridge −15.4% down 15.4%
- Toronto C14 −15.3% down 15.3%
Sales, month-over-month
Top 5
- Brock +72.7% up 72.7%
- Toronto C12 +21.7% up 21.7%
- Toronto C06 +20.0% up 20.0%
- Toronto E08 +9.8% up 9.8%
- Toronto W10 +5.4% up 5.4%
Bottom 5
- Uxbridge −65.5% down 65.5%
- Toronto C10 −51.3% down 51.3%
- Toronto C09 −40.0% down 40.0%
- Toronto W01 −37.1% down 37.1%
- Toronto E03 −35.4% down 35.4%
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
50.2%
prior month 50.8%
Months of inventory
2.8
All TRREB areas reads differently on the two balance measures — balanced conditions at 50.2% sales-to-new-listings, but a seller's market at 2.8 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
57.1%
prior month 59.0%
Months of inventory
2.1
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 57.1% sales-to-new-listings, but a seller's market at 2.1 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
46.9%
prior month 46.7%
Months of inventory
3.3
905 total reads differently on the two balance measures — balanced conditions at 46.9% sales-to-new-listings, but a seller's market at 3.3 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
$719,903
- Sales
- 583
- SNLR
- 61.8%
- MOI
- 1.5
Aggregated across 2 districts · View →
Midtown
$1,497,803
- Sales
- 241
- SNLR
- 59.5%
- MOI
- 2.3
Aggregated across 6 districts · View →
Scarborough
$635,524
- Sales
- 484
- SNLR
- 51.5%
- MOI
- 2.3
Aggregated across 8 districts · View →
York Region
$924,005
- Sales
- 1,083
- SNLR
- 36.9%
- MOI
- 4.9
Region total · View →
Durham Region
$584,131
- Sales
- 794
- SNLR
- 47.4%
- 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.