Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$788,335
MoM +$7,938 +1.0% up $7,938, 1.0% versus February 2019 YoY +0.5% up 0.5% versus March 2018
Source: TRREB MarketWatch, March 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2019
In March 2019 the average selling price across the Greater Toronto Area edged up 1.0% to $788,335 versus February 2019, and sales jumped 43.0% to 7,187.
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.
$690,000
MoM +$15,100 +2.2% up $15,100, 2.2% versus February 2019 YoY +3.0% up 3.0% versus March 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$779,100
MoM +$11,300 +1.5% up $11,300, 1.5% versus February 2019 YoY +2.6% up 2.6% versus March 2018
Sales — Firm transactions reported through the MLS® System during the month.
7,187
MoM +2,162 +43.0% up 2,162, 43.0% versus February 2019 YoY −0.6% down 0.6% versus March 2018
Dollar volume — Total value of all sales in the month.
$5.67B
MoM +$1,744,268,937 +44.5% up $1,744,268,937, 44.5% versus February 2019 YoY −0.1% down 0.1% versus March 2018
New listings — Properties newly listed during the month.
13,996
MoM +4,168 +42.4% up 4,168, 42.4% versus February 2019 YoY −5.9% down 5.9% versus March 2018
Active listings — Listings available at month end.
15,576
MoM +2,292 +17.3% up 2,292, 17.3% versus February 2019 YoY −2.5% down 2.5% versus March 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
21
MoM −4 days −16.0% down 4 days, 16.0% versus February 2019 YoY +5.0% up 5.0% versus March 2018
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 February 2019 YoY no change no change versus March 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
51.4%
MoM +0.2 pp +0.4% up 0.2 pp, 0.4% versus February 2019 YoY +5.6% up 5.6% versus March 2018
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.
2.2
MoM −0 −18.0% down 0, 18.0% versus February 2019 YoY −1.9% down 1.9% versus March 2018
The month in 60 seconds
- Across all TRREB areas, sales jumped 43.0% to 7,187 versus February 2019.
- Across all TRREB areas, new listings jumped 42.4% to 13,996 versus February 2019.
- Across all TRREB areas, active listings jumped 17.3% to 15,576 versus February 2019.
- Across all TRREB areas, the median selling price edged up 2.2% to $690,000 versus February 2019.
- Across all TRREB areas, the average selling price edged up 1.0% to $788,335 versus February 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
0.4%
Q4 2018
Toronto employment growth
1.8%
February 2019
Toronto unemployment rate
6.3%
February 2019
Inflation (CPI, year-over-year)
1.5%
February 2019
Bank of Canada overnight rate
1.75%
March 2019
Prime rate
3.95%
March 2019
1-year mortgage rate
3.64%
March 2019
3-year mortgage rate
4.29%
March 2019
5-year mortgage rate
5.34%
March 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,230 | +1,059 +48.8% up 1,059, 48.8% versus February 2019 | $984,782 | +$3,868 +0.4% up $3,868, 0.4% versus February 2019 | −2.1% down 2.1% |
| Semi-detached | 671 | +215 +47.1% up 215, 47.1% versus February 2019 | $789,462 | −$43,107 −5.2% down $43,107, 5.2% versus February 2019 | +0.8% up 0.8% |
| Att/row/townhouse | 702 | +249 +55.0% up 249, 55.0% versus February 2019 | $705,938 | +$21,895 +3.2% up $21,895, 3.2% versus February 2019 | +2.2% up 2.2% |
| Condo townhouse | 551 | +211 +62.1% up 211, 62.1% versus February 2019 | $571,169 | −$104 −0.0% down $104, 0.0% versus February 2019 | −0.6% down 0.6% |
| Condo apartment | 1,965 | +429 +27.9% up 429, 27.9% versus February 2019 | $560,020 | −$2,141 −0.4% down $2,141, 0.4% versus February 2019 | +1.6% up 1.6% |
| Link | 47 | −8 −14.5% down 8, 14.5% versus February 2019 | $688,017 | +$28,993 +4.4% up $28,993, 4.4% versus February 2019 | −1.0% down 1.0% |
| Co-op apartment | 5 | +1 +25.0% up 1, 25.0% versus February 2019 | $525,200 | −$189,800 −26.5% down $189,800, 26.5% versus February 2019 | +24.7% up 24.7% |
| Detached condo | 12 | +8 +200.0% up 8, 200.0% versus February 2019 | $693,692 | −$26,308 −3.7% down $26,308, 3.7% versus February 2019 | −7.2% down 7.2% |
| Co-ownership apartment | 4 | −2 −33.3% down 2, 33.3% versus February 2019 | $295,225 | −$156,442 −34.6% down $156,442, 34.6% versus February 2019 | −27.0% down 27.0% |
Average price by home type
13 months to March 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Oct '18 | 1019416 | 816657 | 719002 | 574808 | 562523 |
| Nov '18 | 1008768 | 791760 | 711851 | 577683 | 556723 |
| Dec '18 | 945580 | 755707 | 679164 | 567290 | 554497 |
| Jan '19 | 941488 | 742738 | 699154 | 567748 | 548176 |
| Feb '19 | 980914 | 832569 | 684043 | 571273 | 562161 |
| Mar '19 | 984782 | 789462 | 705938 | 571169 | 560020 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +75.6% up 75.6%
- Uxbridge +33.2% up 33.2%
- Toronto C13 +26.3% up 26.3%
- Toronto C12 +17.6% up 17.6%
- Toronto E08 +17.1% up 17.1%
Bottom 5
- Toronto E06 −16.1% down 16.1%
- Toronto E03 −16.0% down 16.0%
- Toronto C03 −13.4% down 13.4%
- King −12.2% down 12.2%
- Toronto W01 −10.3% down 10.3%
Sales, month-over-month
Top 5
- Toronto W01 +143.5% up 143.5%
- Toronto E06 +125.0% up 125.0%
- Toronto W07 +100.0% up 100.0%
- King +100.0% up 100.0%
- Toronto E02 +90.0% up 90.0%
Bottom 5
- Toronto C06 −28.0% down 28.0%
- Toronto C09 −21.4% down 21.4%
- Toronto C03 −17.9% down 17.9%
- Toronto C02 −15.8% down 15.8%
- Toronto C11 −14.3% down 14.3%
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
51.4%
prior month 51.1%
Months of inventory
2.2
All TRREB areas reads differently on the two balance measures — balanced conditions at 51.4% sales-to-new-listings, but a seller's market at 2.2 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
56.2%
prior month 56.9%
Months of inventory
1.8
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 56.2% 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
49.0%
prior month 48.2%
Months of inventory
2.4
905 total reads differently on the two balance measures — balanced conditions at 49.0% 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.
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
$754,983
- Sales
- 541
- SNLR
- 60.0%
- MOI
- 1.5
Aggregated across 2 districts · View →
Midtown
$1,378,686
- Sales
- 227
- SNLR
- 49.9%
- MOI
- 2.4
Aggregated across 6 districts · View →
Scarborough
$655,126
- Sales
- 477
- SNLR
- 61.3%
- MOI
- 1.5
Aggregated across 8 districts · View →
York Region
$915,213
- Sales
- 1,183
- SNLR
- 40.9%
- MOI
- 3.4
Region total · View →
Durham Region
$604,796
- Sales
- 839
- SNLR
- 51.9%
- MOI
- 2.1
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.