Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$796,786
MoM +$31,516 +4.1% up $31,516, 4.1% versus August 2018 YoY +2.7% up 2.7% versus September 2017
Source: TRREB MarketWatch, September 2018
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
September 2018
In September 2018 the average selling price across the Greater Toronto Area rose 4.1% to $796,786 versus August 2018, and sales fell 5.6% to 6,455.
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.
$680,000
MoM +$20,100 +3.0% up $20,100, 3.0% versus August 2018 YoY +6.3% up 6.3% versus September 2017
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$765,400
MoM +$600 +0.1% up $600, 0.1% versus August 2018 YoY +2.0% up 2.0% versus September 2017
Sales — Firm transactions reported through the MLS® System during the month.
6,455
MoM −384 −5.6% down 384, 5.6% versus August 2018 YoY +1.2% up 1.2% versus September 2017
Dollar volume — Total value of all sales in the month.
$5.14B
MoM −$90,425,993 −1.7% down $90,425,993, 1.7% versus August 2018 YoY +4.0% up 4.0% versus September 2017
New listings — Properties newly listed during the month.
15,920
MoM +3,754 +30.9% up 3,754, 30.9% versus August 2018 YoY −3.3% down 3.3% versus September 2017
Active listings — Listings available at month end.
20,089
MoM +2,225 +12.5% up 2,225, 12.5% versus August 2018 YoY +5.6% up 5.6% versus September 2017
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
26
MoM −1 day −3.7% down 1 day, 3.7% versus August 2018 YoY +8.3% up 8.3% versus September 2017
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus August 2018 YoY +1.0% up 1.0% versus September 2017
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
40.5%
MoM −15.7 pp −27.9% down 15.7 pp, 27.9% versus August 2018 YoY +4.7% up 4.7% versus September 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.
3.1
MoM +1 +19.1% up 1, 19.1% versus August 2018 YoY +4.4% up 4.4% versus September 2017
The month in 60 seconds
- Across all TRREB areas, new listings jumped 30.9% to 15,920 versus August 2018.
- Across all TRREB areas, active listings jumped 12.5% to 20,089 versus August 2018.
- Across all TRREB areas, sales fell 5.6% to 6,455 versus August 2018.
- Across all TRREB areas, the average selling price rose 4.1% to $796,786 versus August 2018.
- Across all TRREB areas, the median selling price rose 3.0% to $680,000 versus August 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
2.3%
August 2018
Toronto unemployment rate
6.1%
August 2018
Inflation (CPI, year-over-year)
2.8%
August 2018
Bank of Canada overnight rate
1.5%
September 2018
Prime rate
3.7%
September 2018
1-year mortgage rate
3.49%
September 2018
3-year mortgage rate
4.3%
September 2018
5-year mortgage rate
5.34%
September 2018
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,829 | −172 −5.7% down 172, 5.7% versus August 2018 | $1,008,361 | +$31,174 +3.2% up $31,174, 3.2% versus August 2018 | −0.7% down 0.7% |
| Semi-detached | 653 | +76 +13.2% up 76, 13.2% versus August 2018 | $792,353 | +$50,480 +6.8% up $50,480, 6.8% versus August 2018 | +5.3% up 5.3% |
| Att/row/townhouse | 579 | −24 −4.0% down 24, 4.0% versus August 2018 | $683,330 | +$7,985 +1.2% up $7,985, 1.2% versus August 2018 | +3.0% up 3.0% |
| Condo townhouse | 495 | −45 −8.3% down 45, 8.3% versus August 2018 | $576,980 | +$9,315 +1.6% up $9,315, 1.6% versus August 2018 | +5.4% up 5.4% |
| Condo apartment | 1,791 | −209 −10.4% down 209, 10.4% versus August 2018 | $570,140 | +$29,034 +5.4% up $29,034, 5.4% versus August 2018 | +9.6% up 9.6% |
| Link | 98 | −5 −4.9% down 5, 4.9% versus August 2018 | $651,895 | −$10,952 −1.7% down $10,952, 1.7% versus August 2018 | −7.0% down 7.0% |
| Co-op apartment | 5 | +1 +25.0% up 1, 25.0% versus August 2018 | $754,600 | +$509,375 +207.7% up $509,375, 207.7% versus August 2018 | +68.2% up 68.2% |
| Detached condo | 4 | −3 −42.9% down 3, 42.9% versus August 2018 | $715,000 | −$215,000 −23.1% down $215,000, 23.1% versus August 2018 | −20.3% down 20.3% |
| Co-ownership apartment | 1 | −3 −75.0% down 3, 75.0% versus August 2018 | $300,500 | −$32,750 −9.8% down $32,750, 9.8% versus August 2018 | −7.9% down 7.9% |
Average price by home type
13 months to September 2018
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Aug '18 | 977187 | 741873 | 675345 | 567665 | 541106 |
| Sep '18 | 1008361 | 792353 | 683330 | 576980 | 570140 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W07 +51.5% up 51.5%
- Toronto C11 +35.8% up 35.8%
- Toronto W01 +33.6% up 33.6%
- Toronto C07 +23.6% up 23.6%
- Toronto C04 +22.0% up 22.0%
Bottom 5
- Uxbridge −19.5% down 19.5%
- Toronto C06 −18.5% down 18.5%
- Brock −16.8% down 16.8%
- Aurora −13.5% down 13.5%
- Toronto E02 −13.3% down 13.3%
Sales, month-over-month
Top 5
- Toronto C09 +162.5% up 162.5%
- Toronto W01 +93.5% up 93.5%
- Toronto E01 +76.3% up 76.3%
- Toronto C13 +57.6% up 57.6%
- Toronto W02 +57.5% up 57.5%
Bottom 5
- Toronto C12 −39.3% down 39.3%
- Aurora −30.5% down 30.5%
- Toronto W10 −29.3% down 29.3%
- Toronto E05 −26.3% down 26.3%
- Toronto E09 −24.2% down 24.2%
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
40.5%
prior month 56.2%
Months of inventory
3.1
All TRREB areas reads differently on the two balance measures — balanced conditions at 40.5% sales-to-new-listings, but a seller's market at 3.1 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
45.2%
prior month 65.1%
Months of inventory
2.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 45.2% sales-to-new-listings, but a seller's market at 2.4 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
38.1%
prior month 52.3%
Months of inventory
3.6
905 total reads differently on the two balance measures — a buyer's market at 38.1% sales-to-new-listings, but a seller's market at 3.6 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
$758,298
- Sales
- 535
- SNLR
- 55.7%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,505,292
- Sales
- 253
- SNLR
- 39.7%
- MOI
- 2.5
Aggregated across 6 districts · View →
Scarborough
$642,304
- Sales
- 424
- SNLR
- 45.6%
- MOI
- 2.7
Aggregated across 8 districts · View →
York Region
$903,704
- Sales
- 983
- SNLR
- 28.1%
- MOI
- 5.4
Region total · View →
Durham Region
$587,009
- Sales
- 773
- SNLR
- 42.4%
- 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.