Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$839,363
MoM +$1,575 +0.2% up $1,575, 0.2% versus December 2019 YoY +12.2% up 12.2% versus January 2019
Source: TRREB MarketWatch, January 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
January 2020
In January 2020 the average selling price across the Greater Toronto Area held steady at $839,363 versus December 2019, and sales rose 4.1% to 4,581, though a quieter January after the December holidays is the seasonal norm.
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.
$735,000
MoM +$14,000 +1.9% up $14,000, 1.9% versus December 2019 YoY +13.1% up 13.1% versus January 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$828,200
MoM +$8,500 +1.0% up $8,500, 1.0% versus December 2019 YoY +8.7% up 8.7% versus January 2019
Sales — Firm transactions reported through the MLS® System during the month.
4,581
MoM +182 +4.1% up 182, 4.1% versus December 2019 YoY +14.3% up 14.3% versus January 2019
Dollar volume — Total value of all sales in the month.
$3.85B
MoM +$159,694,957 +4.3% up $159,694,957, 4.3% versus December 2019 YoY +28.2% up 28.2% versus January 2019
New listings — Properties newly listed during the month.
7,836
MoM +4,305 +121.9% up 4,305, 121.9% versus December 2019 YoY −17.1% down 17.1% versus January 2019
Active listings — Listings available at month end.
7,772
MoM +366 +4.9% up 366, 4.9% versus December 2019 YoY −35.0% down 35.0% versus January 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
27
MoM n/a not available, prior month not on file versus December 2019 YoY n/a not available, prior month not on file versus January 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
37
MoM n/a not available, prior month not on file versus December 2019 YoY n/a not available, prior month not on file versus January 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
100%
MoM +2.0 pp +2.0% up 2.0 pp, 2.0% versus December 2019 YoY +2.0% up 2.0% versus January 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
58.5%
MoM −66.1 pp −53.1% down 66.1 pp, 53.1% versus December 2019 YoY +37.9% up 37.9% versus January 2019
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 +0.8% up 0, 0.8% versus December 2019 YoY −43.1% down 43.1% versus January 2019
The month in 60 seconds
- Across all TRREB areas, new listings jumped 121.9% to 7,836 versus December 2019.
- Across all TRREB areas, active listings rose 4.9% to 7,772 versus December 2019.
- Across all TRREB areas, sales rose 4.1% to 4,581 versus December 2019.
- Across all TRREB areas, the average sale-to-list ratio edged up 2.0% to 100.0% versus December 2019.
- Across all TRREB areas, the median selling price edged up 1.9% to $735,000 versus December 2019.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
1.3%
Q3 2019
Toronto employment growth
4.6%
December 2019
Toronto unemployment rate
5.7%
December 2019
Inflation (CPI, year-over-year)
2.2%
December 2019
Bank of Canada overnight rate
1.75%
January 2020
Prime rate
3.95%
January 2020
1-year mortgage rate
3.64%
January 2020
3-year mortgage rate
3.94%
January 2020
5-year mortgage rate
5.19%
January 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,074 | +90 +4.5% up 90, 4.5% versus December 2019 | $1,038,247 | −$13,834 −1.3% down $13,834, 1.3% versus December 2019 | +10.3% up 10.3% |
| Semi-detached | 351 | −30 −7.9% down 30, 7.9% versus December 2019 | $792,326 | −$12,818 −1.6% down $12,818, 1.6% versus December 2019 | +6.7% up 6.7% |
| Att/row/townhouse | 418 | +22 +5.6% up 22, 5.6% versus December 2019 | $755,851 | +$19,278 +2.6% up $19,278, 2.6% versus December 2019 | +8.1% up 8.1% |
| Condo townhouse | 364 | +29 +8.7% up 29, 8.7% versus December 2019 | $622,640 | +$25,424 +4.3% up $25,424, 4.3% versus December 2019 | +9.7% up 9.7% |
| Condo apartment | 1,335 | +80 +6.4% up 80, 6.4% versus December 2019 | $630,047 | +$17,583 +2.9% up $17,583, 2.9% versus December 2019 | +14.9% up 14.9% |
| Link | 31 | −3 −8.8% down 3, 8.8% versus December 2019 | $815,719 | +$135,790 +20.0% up $135,790, 20.0% versus December 2019 | +23.9% up 23.9% |
| Co-op apartment | 4 | −2 −33.3% down 2, 33.3% versus December 2019 | $563,750 | −$97,848 −14.8% down $97,848, 14.8% versus December 2019 | +69.8% up 69.8% |
| Detached condo | 3 | no change no change versus December 2019 | $666,667 | −$47,500 −6.7% down $47,500, 6.7% versus December 2019 | +53.8% up 53.8% |
| Co-ownership apartment | 1 | −4 −80.0% down 4, 80.0% versus December 2019 | $450,000 | +$106,580 +31.0% up $106,580, 31.0% versus December 2019 | −4.1% down 4.1% |
Average price by home type
13 months to January 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Dec '19 | 1052081 | 805144 | 736573 | 597216 | 612464 |
| Jan '20 | 1038247 | 792326 | 755851 | 622640 | 630047 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +37.7% up 37.7%
- Uxbridge +36.5% up 36.5%
- Toronto E06 +28.3% up 28.3%
- Toronto E02 +28.0% up 28.0%
- Toronto W06 +24.9% up 24.9%
Bottom 5
- Toronto C12 −27.3% down 27.3%
- Toronto C14 −26.0% down 26.0%
- Toronto C03 −22.4% down 22.4%
- King −16.3% down 16.3%
- Toronto C02 −11.4% down 11.4%
Sales, month-over-month
Top 5
- Scugog +77.8% up 77.8%
- Toronto W10 +46.9% up 46.9%
- Uxbridge +42.1% up 42.1%
- Oshawa +30.0% up 30.0%
- Toronto C03 +28.6% up 28.6%
Bottom 5
- Toronto E01 −61.3% down 61.3%
- Toronto W09 −39.4% down 39.4%
- Toronto E03 −35.9% down 35.9%
- Whitchurch-Stouffville −26.2% down 26.2%
- Ajax −19.0% down 19.0%
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
58.5%
prior month 124.6%
Months of inventory
1.7
All TRREB areas reads differently on the two balance measures — balanced conditions at 58.5% sales-to-new-listings, but a seller's market at 1.7 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
60.9%
prior month 123.7%
Months of inventory
1.5
City of Toronto (416) sits in a seller's market: 60.9% of new listings sold and 1.5 months of inventory on hand.
905 total
SNLR
57.2%
prior month 125.1%
Months of inventory
1.8
905 total reads differently on the two balance measures — balanced conditions at 57.2% 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.
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
$837,608
- Sales
- 351
- SNLR
- 58.0%
- MOI
- 1.6
Aggregated across 2 districts · View →
Midtown
$1,402,299
- Sales
- 158
- SNLR
- 50.5%
- MOI
- 2.3
Aggregated across 6 districts · View →
Scarborough
$729,589
- Sales
- 307
- SNLR
- 77.5%
- MOI
- 0.8
Aggregated across 8 districts · View →
York Region
$948,799
- Sales
- 747
- SNLR
- 48.5%
- MOI
- 2.5
Region total · View →
Durham Region
$655,781
- Sales
- 586
- SNLR
- 62.1%
- MOI
- 1.5
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.