Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$806,755
MoM −$25,948 −3.1% down $25,948, 3.1% versus June 2019 YoY +3.1% up 3.1% versus July 2018
Source: TRREB MarketWatch, July 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
July 2019
In July 2019 the average selling price across the Greater Toronto Area fell 3.1% to $806,755 versus June 2019, and sales edged down 3.0% to 8,595.
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.
$705,000
MoM −$15,000 −2.1% down $15,000, 2.1% versus June 2019 YoY +5.2% up 5.2% versus July 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$800,900
MoM +$2,400 +0.3% up $2,400, 0.3% versus June 2019 YoY +4.4% up 4.4% versus July 2018
Sales — Firm transactions reported through the MLS® System during the month.
8,595
MoM −265 −3.0% down 265, 3.0% versus June 2019 YoY +23.5% up 23.5% versus July 2018
Dollar volume — Total value of all sales in the month.
$6.93B
MoM −$443,687,665 −6.0% down $443,687,665, 6.0% versus June 2019 YoY +27.4% up 27.4% versus July 2018
New listings — Properties newly listed during the month.
14,393
MoM −1,423 −9.0% down 1,423, 9.0% versus June 2019 YoY +3.8% up 3.8% versus July 2018
Active listings — Listings available at month end.
17,938
MoM −1,717 −8.7% down 1,717, 8.7% versus June 2019 YoY −9.1% down 9.1% versus July 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
23
MoM +2 days +9.5% up 2 days, 9.5% versus June 2019 YoY −8.0% down 8.0% versus July 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 June 2019 YoY +1.0% up 1.0% versus July 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
59.7%
MoM +3.7 pp +6.6% up 3.7 pp, 6.6% versus June 2019 YoY +19.0% up 19.0% versus July 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.
2.1
MoM −0 −5.9% down 0, 5.9% versus June 2019 YoY −26.3% down 26.3% versus July 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 9.0% to 14,393 versus June 2019.
- Across all TRREB areas, active listings dropped 8.7% to 17,938 versus June 2019.
- Across all TRREB areas, the average selling price fell 3.1% to $806,755 versus June 2019.
- Across all TRREB areas, sales edged down 3.0% to 8,595 versus June 2019.
- Across all TRREB areas, the median selling price edged down 2.1% to $705,000 versus June 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%
June 2019
Toronto unemployment rate
6%
June 2019
Inflation (CPI, year-over-year)
2%
period not printed
Bank of Canada overnight rate
1.75%
July 2019
Prime rate
3.95%
July 2019
1-year mortgage rate
3.64%
July 2019
3-year mortgage rate
4.29%
July 2019
5-year mortgage rate
5.19%
July 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,941 | −284 −6.7% down 284, 6.7% versus June 2019 | $995,043 | −$23,944 −2.3% down $23,944, 2.3% versus June 2019 | −1.0% down 1.0% |
| Semi-detached | 859 | −27 −3.0% down 27, 3.0% versus June 2019 | $786,974 | −$43,041 −5.2% down $43,041, 5.2% versus June 2019 | +5.4% up 5.4% |
| Att/row/townhouse | 754 | −43 −5.4% down 43, 5.4% versus June 2019 | $711,718 | −$1,822 −0.3% down $1,822, 0.3% versus June 2019 | +4.6% up 4.6% |
| Condo townhouse | 661 | −22 −3.2% down 22, 3.2% versus June 2019 | $601,541 | −$6,646 −1.1% down $6,646, 1.1% versus June 2019 | +4.3% up 4.3% |
| Condo apartment | 2,277 | +128 +6.0% up 128, 6.0% versus June 2019 | $584,019 | −$6,255 −1.1% down $6,255, 1.1% versus June 2019 | +6.8% up 6.8% |
| Link | 81 | −8 −9.0% down 8, 9.0% versus June 2019 | $738,929 | −$5,372 −0.7% down $5,372, 0.7% versus June 2019 | +11.0% up 11.0% |
| Co-op apartment | 8 | +2 +33.3% up 2, 33.3% versus June 2019 | $685,196 | +$91,113 +15.3% up $91,113, 15.3% versus June 2019 | +13.3% up 13.3% |
| Detached condo | 9 | −8 −47.1% down 8, 47.1% versus June 2019 | $581,333 | −$84,944 −12.7% down $84,944, 12.7% versus June 2019 | −2.5% down 2.5% |
| Co-ownership apartment | 5 | −3 −37.5% down 3, 37.5% versus June 2019 | $389,400 | −$37,475 −8.8% down $37,475, 8.8% versus June 2019 | +25.4% up 25.4% |
Average price by home type
13 months to July 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jul '19 | 995043 | 786974 | 711718 | 601541 | 584019 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- King +38.9% up 38.9%
- Brock +32.2% up 32.2%
- Toronto W09 +27.8% up 27.8%
- Toronto C09 +8.7% up 8.7%
- Pickering +8.3% up 8.3%
Bottom 5
- Toronto C11 −47.7% down 47.7%
- Toronto C13 −29.1% down 29.1%
- Uxbridge −15.3% down 15.3%
- Toronto W08 −14.9% down 14.9%
- Toronto W01 −14.4% down 14.4%
Sales, month-over-month
Top 5
- Toronto E09 +29.4% up 29.4%
- Toronto C07 +18.9% up 18.9%
- Toronto E07 +18.8% up 18.8%
- Toronto E05 +18.4% up 18.4%
- Toronto W10 +17.8% up 17.8%
Bottom 5
- Toronto C09 −51.5% down 51.5%
- Toronto C03 −40.9% down 40.9%
- Toronto W07 −33.3% down 33.3%
- Toronto C11 −31.7% down 31.7%
- Toronto E02 −30.7% down 30.7%
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
59.7%
prior month 56.0%
Months of inventory
2.1
All TRREB areas reads differently on the two balance measures — balanced conditions at 59.7% 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.
City of Toronto (416)
SNLR
65.3%
prior month 59.3%
Months of inventory
1.7
City of Toronto (416) sits in a seller's market: 65.3% of new listings sold and 1.7 months of inventory on hand.
905 total
SNLR
57.0%
prior month 54.3%
Months of inventory
2.3
905 total reads differently on the two balance measures — balanced conditions at 57.0% sales-to-new-listings, but a seller's market at 2.3 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
$748,451
- Sales
- 639
- SNLR
- 64.2%
- MOI
- 1.5
Aggregated across 2 districts · View →
Midtown
$1,384,601
- Sales
- 305
- SNLR
- 67.8%
- MOI
- 1.8
Aggregated across 6 districts · View →
Scarborough
$665,940
- Sales
- 633
- SNLR
- 65.3%
- MOI
- 1.5
Aggregated across 8 districts · View →
York Region
$930,577
- Sales
- 1,444
- SNLR
- 49.8%
- MOI
- 3.2
Region total · View →
Durham Region
$604,938
- Sales
- 1,041
- SNLR
- 55.0%
- 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.