Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$843,637
MoM −$8,505 −1.0% down $8,505, 1.0% versus October 2019 YoY +7.0% up 7.0% versus November 2018
Source: TRREB MarketWatch, November 2019
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
November 2019
In November 2019 the average selling price across the Greater Toronto Area held steady at $843,637 versus October 2019, and sales dropped 16.5% to 7,090.
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.
$729,000
MoM −$1,000 −0.1% down $1,000, 0.1% versus October 2019 YoY +8.8% up 8.8% versus November 2018
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$815,800
MoM +$4,900 +0.6% up $4,900, 0.6% versus October 2019 YoY +6.8% up 6.8% versus November 2018
Sales — Firm transactions reported through the MLS® System during the month.
7,090
MoM −1,401 −16.5% down 1,401, 16.5% versus October 2019 YoY +13.4% up 13.4% versus November 2018
Dollar volume — Total value of all sales in the month.
$5.98B
MoM −$1,254,149,919 −17.3% down $1,254,149,919, 17.3% versus October 2019 YoY +21.4% up 21.4% versus November 2018
New listings — Properties newly listed during the month.
8,650
MoM −4,400 −33.7% down 4,400, 33.7% versus October 2019 YoY −17.9% down 17.9% versus November 2018
Active listings — Listings available at month end.
11,958
MoM −3,417 −22.2% down 3,417, 22.2% versus October 2019 YoY −27.2% down 27.2% versus November 2018
Avg. DOM — Average days on market. Editions before 2020 report this single figure rather than splitting it into LDOM and PDOM.
24
MoM +1 day +4.3% up 1 day, 4.3% versus October 2019 YoY −11.1% down 11.1% versus November 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 October 2019 YoY +1.0% up 1.0% versus November 2018
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
82.0%
MoM +16.9 pp +26.0% up 16.9 pp, 26.0% versus October 2019 YoY +38.1% up 38.1% versus November 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.
1.7
MoM −0 −6.9% down 0, 6.9% versus October 2019 YoY −35.8% down 35.8% versus November 2018
The month in 60 seconds
- Across all TRREB areas, new listings dropped 33.7% to 8,650 versus October 2019.
- Across all TRREB areas, active listings dropped 22.2% to 11,958 versus October 2019.
- Across all TRREB areas, sales dropped 16.5% to 7,090 versus October 2019.
- Across all TRREB areas, the average selling price held steady at $843,637 versus October 2019.
- Across all TRREB areas, the median selling price held steady at $729,000 versus October 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.7%
Q2 2019
Toronto employment growth
5.6%
October 2019
Toronto unemployment rate
5.8%
September 2019
Inflation (CPI, year-over-year)
1.9%
October 2019
Bank of Canada overnight rate
1.75%
November 2019
Prime rate
3.95%
November 2019
1-year mortgage rate
3.64%
November 2019
3-year mortgage rate
3.94%
November 2019
5-year mortgage rate
5.19%
November 2019
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,263 | −697 −17.6% down 697, 17.6% versus October 2019 | $1,044,138 | −$5,162 −0.5% down $5,162, 0.5% versus October 2019 | +3.5% up 3.5% |
| Semi-detached | 669 | −144 −17.7% down 144, 17.7% versus October 2019 | $837,573 | −$15,096 −1.8% down $15,096, 1.8% versus October 2019 | +5.8% up 5.8% |
| Att/row/townhouse | 626 | −121 −16.2% down 121, 16.2% versus October 2019 | $729,999 | +$2,925 +0.4% up $2,925, 0.4% versus October 2019 | +2.5% up 2.5% |
| Condo townhouse | 547 | −101 −15.6% down 101, 15.6% versus October 2019 | $594,354 | −$24,495 −4.0% down $24,495, 4.0% versus October 2019 | +2.9% up 2.9% |
| Condo apartment | 1,902 | −317 −14.3% down 317, 14.3% versus October 2019 | $617,658 | +$239 +0.0% up $239, 0.0% versus October 2019 | +10.9% up 10.9% |
| Link | 59 | −16 −21.3% down 16, 21.3% versus October 2019 | $729,444 | −$8,904 −1.2% down $8,904, 1.2% versus October 2019 | +7.8% up 7.8% |
| Co-op apartment | 7 | −6 −46.2% down 6, 46.2% versus October 2019 | $608,571 | +$130,756 +27.4% up $130,756, 27.4% versus October 2019 | +17.7% up 17.7% |
| Detached condo | 8 | +1 +14.3% up 1, 14.3% versus October 2019 | $808,063 | −$200,508 −19.9% down $200,508, 19.9% versus October 2019 | +37.8% up 37.8% |
| Co-ownership apartment | 9 | no change no change versus October 2019 | $376,696 | −$95,326 −20.2% down $95,326, 20.2% versus October 2019 | +14.2% up 14.2% |
Average price by home type
13 months to November 2019
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Aug '19 | 978920 | 768230 | 691768 | 578264 | 574632 |
| Sep '19 | 1050421 | 833790 | 726676 | 618241 | 595013 |
| Oct '19 | 1049300 | 852669 | 727074 | 618849 | 617419 |
| Nov '19 | 1044138 | 837573 | 729999 | 594354 | 617658 |
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 +22.9% up 22.9%
- Toronto W10 +14.0% up 14.0%
- Brock +12.5% up 12.5%
- Markham +10.1% up 10.1%
- Toronto C07 +10.0% up 10.0%
Bottom 5
- Toronto C11 −25.5% down 25.5%
- King −15.9% down 15.9%
- Toronto W07 −11.8% down 11.8%
- Toronto C09 −10.7% down 10.7%
- Toronto C15 −10.4% down 10.4%
Sales, month-over-month
Top 5
- King +21.1% up 21.1%
- Toronto C11 +20.6% up 20.6%
- Toronto C13 +5.8% up 5.8%
- Toronto C04 +3.2% up 3.2%
- Toronto W05 +1.8% up 1.8%
Bottom 5
- Toronto E03 −38.5% down 38.5%
- Brock −36.4% down 36.4%
- Scugog −34.3% down 34.3%
- Toronto C15 −33.5% down 33.5%
- Toronto E02 −32.8% down 32.8%
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
82.0%
prior month 65.1%
Months of inventory
1.7
All TRREB areas sits in a seller's market: 82.0% of new listings sold and 1.7 months of inventory on hand.
City of Toronto (416)
SNLR
82.2%
prior month 66.2%
Months of inventory
1.4
City of Toronto (416) sits in a seller's market: 82.2% of new listings sold and 1.4 months of inventory on hand.
905 total
SNLR
81.8%
prior month 64.4%
Months of inventory
1.8
905 total sits in a seller's market: 81.8% of new listings sold and 1.8 months of inventory on hand.
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
$804,832
- Sales
- 539
- SNLR
- 74.8%
- MOI
- 1.4
Aggregated across 2 districts · View →
Midtown
$1,458,648
- Sales
- 291
- SNLR
- 78.0%
- MOI
- 1.8
Aggregated across 6 districts · View →
Scarborough
$706,783
- Sales
- 542
- SNLR
- 99.1%
- MOI
- 1.0
Aggregated across 8 districts · View →
York Region
$974,771
- Sales
- 1,176
- SNLR
- 74.6%
- MOI
- 2.5
Region total · View →
Durham Region
$611,872
- Sales
- 872
- SNLR
- 83.5%
- MOI
- 1.6
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.