Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$943,710
MoM +$12,841 +1.4% up $12,841, 1.4% versus June 2020 YoY +17.0% up 17.0% versus July 2019
Source: TRREB MarketWatch, July 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
July 2020
In July 2020 the average selling price across the Greater Toronto Area edged up 1.4% to $943,710 versus June 2020, and sales jumped 27.4% to 11,081, though a summer slowdown 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.
$810,000
MoM +$15,000 +1.9% up $15,000, 1.9% versus June 2020 YoY +14.9% up 14.9% versus July 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$880,400
MoM +$16,700 +1.9% up $16,700, 1.9% versus June 2020 YoY +10.0% up 10.0% versus July 2019
Sales — Firm transactions reported through the MLS® System during the month.
11,081
MoM +2,380 +27.4% up 2,380, 27.4% versus June 2020 YoY +28.9% up 28.9% versus July 2019
Dollar volume — Total value of all sales in the month.
$10.46B
MoM +$2,357,759,177 +29.1% up $2,357,759,177, 29.1% versus June 2020 YoY +50.8% up 50.8% versus July 2019
New listings — Properties newly listed during the month.
17,956
MoM +1,803 +11.2% up 1,803, 11.2% versus June 2020 YoY +24.8% up 24.8% versus July 2019
Active listings — Listings available at month end.
15,018
MoM +1,017 +7.3% up 1,017, 7.3% versus June 2020 YoY −16.3% down 16.3% versus July 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
17
MoM −1 day −5.6% down 1 day, 5.6% versus June 2020 YoY n/a not available, prior month not on file versus July 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
25
MoM −1 day −3.8% down 1 day, 3.8% versus June 2020 YoY n/a not available, prior month not on file versus July 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
101%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus June 2020 YoY +2.0% up 2.0% versus July 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
61.7%
MoM +7.8 pp +14.6% up 7.8 pp, 14.6% versus June 2020 YoY +3.3% up 3.3% versus July 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.
1.4
MoM −0 −15.8% down 0, 15.8% versus June 2020 YoY −35.1% down 35.1% versus July 2019
The month in 60 seconds
- Across all TRREB areas, sales jumped 27.4% to 11,081 versus June 2020.
- Across all TRREB areas, new listings jumped 11.2% to 17,956 versus June 2020.
- Across all TRREB areas, active listings rose 7.3% to 15,018 versus June 2020.
- Across all TRREB areas, the median selling price edged up 1.9% to $810,000 versus June 2020.
- Across all TRREB areas, the average selling price edged up 1.4% to $943,710 versus June 2020.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
-8.2%
Q1 2020
Toronto employment growth
-12.9%
June 2020
Toronto unemployment rate
13.6%
June 2020
Inflation (CPI, year-over-year)
0.7%
June 2020
Bank of Canada overnight rate
0.25%
July 2020
Prime rate
2.45%
July 2020
1-year mortgage rate
3.09%
July 2020
3-year mortgage rate
3.79%
July 2020
5-year mortgage rate
4.94%
July 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 5,633 | +1,188 +26.7% up 1,188, 26.7% versus June 2020 | $1,154,356 | +$26,937 +2.4% up $26,937, 2.4% versus June 2020 | +16.0% up 16.0% |
| Semi-detached | 1,068 | +270 +33.8% up 270, 33.8% versus June 2020 | $915,451 | −$13,687 −1.5% down $13,687, 1.5% versus June 2020 | +16.3% up 16.3% |
| Att/row/townhouse | 1,081 | +194 +21.9% up 194, 21.9% versus June 2020 | $795,330 | +$8,940 +1.1% up $8,940, 1.1% versus June 2020 | +11.7% up 11.7% |
| Condo townhouse | 771 | +85 +12.4% up 85, 12.4% versus June 2020 | $647,470 | −$7,427 −1.1% down $7,427, 1.1% versus June 2020 | +7.6% up 7.6% |
| Condo apartment | 2,423 | +630 +35.1% up 630, 35.1% versus June 2020 | $635,778 | +$4,074 +0.6% up $4,074, 0.6% versus June 2020 | +8.9% up 8.9% |
| Link | 80 | +12 +17.6% up 12, 17.6% versus June 2020 | $794,640 | +$30,637 +4.0% up $30,637, 4.0% versus June 2020 | +7.5% up 7.5% |
| Co-op apartment | 6 | −2 −25.0% down 2, 25.0% versus June 2020 | $400,630 | −$184,120 −31.5% down $184,120, 31.5% versus June 2020 | −41.5% down 41.5% |
| Detached condo | 11 | +1 +10.0% up 1, 10.0% versus June 2020 | $686,136 | −$111,064 −13.9% down $111,064, 13.9% versus June 2020 | +18.0% up 18.0% |
| Co-ownership apartment | 8 | +2 +33.3% up 2, 33.3% versus June 2020 | $512,875 | +$74,708 +17.1% up $74,708, 17.1% versus June 2020 | +31.7% up 31.7% |
Average price by home type
13 months to July 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Feb '20 | 1113918 | 872821 | 775554 | 671236 | 666358 |
| Mar '20 | 1107870 | 889480 | 786062 | 647780 | 658791 |
| Apr '20 | 983630 | 865971 | 735818 | 614162 | 578283 |
| May '20 | 1033341 | 867717 | 743380 | 618532 | 625445 |
| Jun '20 | 1127419 | 929138 | 786390 | 654897 | 631704 |
| Jul '20 | 1154356 | 915451 | 795330 | 647470 | 635778 |
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 +50.1% up 50.1%
- Toronto C07 +42.6% up 42.6%
- Scugog +27.5% up 27.5%
- Toronto C02 +20.1% up 20.1%
- Toronto C12 +16.8% up 16.8%
Bottom 5
- Toronto C03 −38.7% down 38.7%
- Toronto C11 −16.1% down 16.1%
- Toronto E06 −14.7% down 14.7%
- Toronto C10 −11.3% down 11.3%
- Toronto C15 −9.6% down 9.6%
Sales, month-over-month
Top 5
- Brock +113.0% up 113.0%
- Toronto C06 +76.0% up 76.0%
- Toronto E07 +63.3% up 63.3%
- Toronto W07 +62.5% up 62.5%
- Toronto E05 +59.0% up 59.0%
Bottom 5
- Uxbridge −18.5% down 18.5%
- Toronto C02 −3.6% down 3.6%
- Toronto E10 +1.7% up 1.7%
- Toronto C10 +4.0% up 4.0%
- Toronto C09 +4.5% up 4.5%
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
61.7%
prior month 53.9%
Months of inventory
1.4
All TRREB areas sits in a seller's market: 61.7% of new listings sold and 1.4 months of inventory on hand.
City of Toronto (416)
SNLR
51.6%
prior month 46.1%
Months of inventory
1.7
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 51.6% 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.
905 total
SNLR
68.1%
prior month 58.7%
Months of inventory
1.2
905 total sits in a seller's market: 68.1% of new listings sold and 1.2 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
$829,490
- Sales
- 698
- SNLR
- 36.3%
- MOI
- 2.7
Aggregated across 2 districts · View →
Midtown
$1,633,660
- Sales
- 388
- SNLR
- 52.9%
- MOI
- 1.9
Aggregated across 6 districts · View →
Scarborough
$778,594
- Sales
- 668
- SNLR
- 64.9%
- MOI
- 1.1
Aggregated across 8 districts · View →
York Region
$1,093,711
- Sales
- 1,850
- SNLR
- 56.0%
- MOI
- 1.8
Region total · View →
Durham Region
$709,640
- Sales
- 1,583
- SNLR
- 83.1%
- MOI
- 0.7
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.