Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$832,703
MoM −$5,837 −0.7% down $5,837, 0.7% versus May 2019 YoY +3.1% up 3.1% versus June 2018
Source: TRREB MarketWatch, June 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
June 2019
In June 2019 the average selling price across the Greater Toronto Area held steady at $832,703 versus May 2019, and sales dropped 11.3% to 8,860.
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.
$720,000
MoM −$5,000 −0.7% down $5,000, 0.7% versus May 2019 YoY +5.6% up 5.6% versus June 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$798,500
MoM +$3,700 +0.5% up $3,700, 0.5% versus May 2019 YoY +3.6% up 3.6% versus June 2018
Sales — Firm transactions reported through the MLS® System during the month.
8,860
MoM −1,129 −11.3% down 1,129, 11.3% versus May 2019 YoY +9.6% up 9.6% versus June 2018
Dollar volume — Total value of all sales in the month.
$7.38B
MoM −$998,430,865 −11.9% down $998,430,865, 11.9% versus May 2019 YoY +13.0% up 13.0% versus June 2018
New listings — Properties newly listed during the month.
15,816
MoM −3,570 −18.4% down 3,570, 18.4% versus May 2019 YoY −0.7% down 0.7% versus June 2018
Active listings — Listings available at month end.
19,655
MoM −362 −1.8% down 362, 1.8% versus May 2019 YoY −5.7% down 5.7% versus June 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
21
MoM +2 days +10.5% up 2 days, 10.5% versus May 2019 YoY no change no change versus June 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 May 2019 YoY no change no change versus June 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
56.0%
MoM +4.5 pp +8.7% up 4.5 pp, 8.7% versus May 2019 YoY +10.4% up 10.4% versus June 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 +10.7% up 0, 10.7% versus May 2019 YoY −14.0% down 14.0% versus June 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 18.4% to 15,816 versus May 2019.
- Across all TRREB areas, sales dropped 11.3% to 8,860 versus May 2019.
- Across all TRREB areas, active listings edged down 1.8% to 19,655 versus May 2019.
- Across all TRREB areas, the average selling price held steady at $832,703 versus May 2019.
- Across all TRREB areas, the median selling price held steady at $720,000 versus May 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%
Q1 2019
Toronto employment growth
3.8%
May 2019
Toronto unemployment rate
6.3%
May 2019
Inflation (CPI, year-over-year)
2.4%
May 2019
Bank of Canada overnight rate
1.75%
June 2019
Prime rate
3.95%
June 2019
1-year mortgage rate
3.64%
June 2019
3-year mortgage rate
4.29%
June 2019
5-year mortgage rate
5.34%
June 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 4,225 | −424 −9.1% down 424, 9.1% versus May 2019 | $1,018,987 | −$23,231 −2.2% down $23,231, 2.2% versus May 2019 | −1.4% down 1.4% |
| Semi-detached | 886 | −133 −13.1% down 133, 13.1% versus May 2019 | $830,015 | +$2,765 +0.3% up $2,765, 0.3% versus May 2019 | +5.4% up 5.4% |
| Att/row/townhouse | 797 | −116 −12.7% down 116, 12.7% versus May 2019 | $713,540 | −$4,781 −0.7% down $4,781, 0.7% versus May 2019 | +3.1% up 3.1% |
| Condo townhouse | 683 | −60 −8.1% down 60, 8.1% versus May 2019 | $608,187 | +$6,551 +1.1% up $6,551, 1.1% versus May 2019 | +5.1% up 5.1% |
| Condo apartment | 2,149 | −393 −15.5% down 393, 15.5% versus May 2019 | $590,274 | −$602 −0.1% down $602, 0.1% versus May 2019 | +5.2% up 5.2% |
| Link | 89 | −3 −3.3% down 3, 3.3% versus May 2019 | $744,301 | +$31,253 +4.4% up $31,253, 4.4% versus May 2019 | +9.0% up 9.0% |
| Co-op apartment | 6 | −3 −33.3% down 3, 33.3% versus May 2019 | $594,083 | +$189,894 +47.0% up $189,894, 47.0% versus May 2019 | +20.6% up 20.6% |
| Detached condo | 17 | +2 +13.3% up 2, 13.3% versus May 2019 | $666,277 | −$95,525 −12.5% down $95,525, 12.5% versus May 2019 | −6.7% down 6.7% |
| Co-ownership apartment | 8 | +1 +14.3% up 1, 14.3% versus May 2019 | $426,875 | +$80,589 +23.3% up $80,589, 23.3% versus May 2019 | +74.6% up 74.6% |
Average price by home type
13 months to June 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Apr '19 | 1018147 | 808796 | 712438 | 583148 | 588168 |
| May '19 | 1042218 | 827250 | 718321 | 601636 | 590876 |
| Jun '19 | 1018987 | 830015 | 713540 | 608187 | 590274 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C03 +31.7% up 31.7%
- Toronto C13 +29.5% up 29.5%
- Toronto E05 +16.0% up 16.0%
- Scugog +13.7% up 13.7%
- Toronto W10 +11.3% up 11.3%
Bottom 5
- King −24.0% down 24.0%
- Toronto C09 −22.6% down 22.6%
- Toronto W09 −22.4% down 22.4%
- Brock −12.6% down 12.6%
- Toronto W07 −11.8% down 11.8%
Sales, month-over-month
Top 5
- Scugog +90.0% up 90.0%
- Toronto W09 +57.9% up 57.9%
- Toronto C06 +32.0% up 32.0%
- King +20.8% up 20.8%
- Toronto C14 +13.3% up 13.3%
Bottom 5
- Toronto W07 −41.5% down 41.5%
- Toronto W01 −39.1% down 39.1%
- Toronto C04 −33.1% down 33.1%
- Toronto W03 −29.6% down 29.6%
- Toronto E03 −27.7% down 27.7%
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
56.0%
prior month 51.5%
Months of inventory
2.2
All TRREB areas reads differently on the two balance measures — balanced conditions at 56.0% 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
59.3%
prior month 55.9%
Months of inventory
1.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 59.3% sales-to-new-listings, but a seller's market at 1.9 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
54.3%
prior month 49.3%
Months of inventory
2.4
905 total reads differently on the two balance measures — balanced conditions at 54.3% 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
$790,518
- Sales
- 617
- SNLR
- 60.8%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,510,497
- Sales
- 372
- SNLR
- 56.0%
- MOI
- 1.9
Aggregated across 6 districts · View →
Scarborough
$703,659
- Sales
- 585
- SNLR
- 57.0%
- MOI
- 1.7
Aggregated across 8 districts · View →
York Region
$930,853
- Sales
- 1,407
- SNLR
- 45.4%
- MOI
- 3.5
Region total · View →
Durham Region
$620,506
- Sales
- 1,093
- SNLR
- 55.8%
- 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.