Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$951,404
MoM +$7,694 +0.8% up $7,694, 0.8% versus July 2020 YoY +20.0% up 20.0% versus August 2019
Source: TRREB MarketWatch, August 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
August 2020
In August 2020 the average selling price across the Greater Toronto Area held steady at $951,404 versus July 2020, and sales edged down 2.8% to 10,775.
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.
$821,000
MoM +$11,000 +1.4% up $11,000, 1.4% versus July 2020 YoY +17.3% up 17.3% versus August 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$890,400
MoM +$10,000 +1.1% up $10,000, 1.1% versus July 2020 YoY +11.1% up 11.1% versus August 2019
Sales — Firm transactions reported through the MLS® System during the month.
10,775
MoM −306 −2.8% down 306, 2.8% versus July 2020 YoY +39.7% up 39.7% versus August 2019
Dollar volume — Total value of all sales in the month.
$10.25B
MoM −$205,877,366 −2.0% down $205,877,366, 2.0% versus July 2020 YoY +67.7% up 67.7% versus August 2019
New listings — Properties newly listed during the month.
18,491
MoM +535 +3.0% up 535, 3.0% versus July 2020 YoY +56.8% up 56.8% versus August 2019
Active listings — Listings available at month end.
16,662
MoM +1,644 +10.9% up 1,644, 10.9% versus July 2020 YoY +5.0% up 5.0% versus August 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
17
MoM no change no change versus July 2020 YoY n/a not available, prior month not on file versus August 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
24
MoM −1 day −4.0% down 1 day, 4.0% versus July 2020 YoY n/a not available, prior month not on file versus August 2019
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
101%
MoM no change no change versus July 2020 YoY +3.1% up 3.1% versus August 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
58.3%
MoM −3.4 pp −5.6% down 3.4 pp, 5.6% versus July 2020 YoY −10.9% down 10.9% versus August 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.
1.6
MoM +0 +14.1% up 0, 14.1% versus July 2020 YoY −24.9% down 24.9% versus August 2019
The month in 60 seconds
- Across all TRREB areas, active listings jumped 10.9% to 16,662 versus July 2020.
- Across all TRREB areas, new listings edged up 3.0% to 18,491 versus July 2020.
- Across all TRREB areas, sales edged down 2.8% to 10,775 versus July 2020.
- Across all TRREB areas, the median selling price edged up 1.4% to $821,000 versus July 2020.
- Across all TRREB areas, the average selling price held steady at $951,404 versus July 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
-11.5%
July 2020
Toronto unemployment rate
14.7%
July 2020
Inflation (CPI, year-over-year)
0.1%
July 2020
Bank of Canada overnight rate
0.25%
August 2020
Prime rate
2.45%
August 2020
1-year mortgage rate
3.09%
August 2020
3-year mortgage rate
3.75%
August 2020
5-year mortgage rate
4.79%
August 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 5,429 | −204 −3.6% down 204, 3.6% versus July 2020 | $1,172,880 | +$18,524 +1.6% up $18,524, 1.6% versus July 2020 | +19.8% up 19.8% |
| Semi-detached | 1,064 | −4 −0.4% down 4, 0.4% versus July 2020 | $905,712 | −$9,739 −1.1% down $9,739, 1.1% versus July 2020 | +17.9% up 17.9% |
| Att/row/townhouse | 1,057 | −24 −2.2% down 24, 2.2% versus July 2020 | $806,239 | +$10,909 +1.4% up $10,909, 1.4% versus July 2020 | +16.5% up 16.5% |
| Condo townhouse | 818 | +47 +6.1% up 47, 6.1% versus July 2020 | $660,177 | +$12,707 +2.0% up $12,707, 2.0% versus July 2020 | +14.2% up 14.2% |
| Condo apartment | 2,286 | −137 −5.7% down 137, 5.7% versus July 2020 | $629,643 | −$6,135 −1.0% down $6,135, 1.0% versus July 2020 | +9.6% up 9.6% |
| Link | 99 | +19 +23.8% up 19, 23.8% versus July 2020 | $753,840 | −$40,800 −5.1% down $40,800, 5.1% versus July 2020 | +5.9% up 5.9% |
| Co-op apartment | 5 | −1 −16.7% down 1, 16.7% versus July 2020 | $617,800 | +$217,170 +54.2% up $217,170, 54.2% versus July 2020 | +3.0% up 3.0% |
| Detached condo | 13 | +2 +18.2% up 2, 18.2% versus July 2020 | $662,404 | −$23,732 −3.5% down $23,732, 3.5% versus July 2020 | +5.5% up 5.5% |
| Co-ownership apartment | 4 | −4 −50.0% down 4, 50.0% versus July 2020 | $555,125 | +$42,250 +8.2% up $42,250, 8.2% versus July 2020 | +54.2% up 54.2% |
Average price by home type
13 months to August 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Aug '20 | 1172880 | 905712 | 806239 | 660177 | 629643 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C13 +30.6% up 30.6%
- Toronto C12 +25.6% up 25.6%
- Toronto C06 +14.9% up 14.9%
- Toronto C10 +13.0% up 13.0%
- Uxbridge +12.3% up 12.3%
Bottom 5
- Toronto C07 −26.4% down 26.4%
- Toronto W01 −24.8% down 24.8%
- Toronto C09 −16.6% down 16.6%
- King −11.6% down 11.6%
- Toronto C11 −10.5% down 10.5%
Sales, month-over-month
Top 5
- Toronto C09 +39.1% up 39.1%
- Uxbridge +38.6% up 38.6%
- East Gwillimbury +26.1% up 26.1%
- Toronto E06 +25.6% up 25.6%
- Toronto C07 +19.8% up 19.8%
Bottom 5
- Brock −38.8% down 38.8%
- Toronto C03 −36.8% down 36.8%
- Toronto W01 −35.9% down 35.9%
- Toronto W02 −29.1% down 29.1%
- Toronto C10 −26.6% down 26.6%
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
58.3%
prior month 61.7%
Months of inventory
1.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 58.3% sales-to-new-listings, but a seller's market at 1.6 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
45.5%
prior month 51.6%
Months of inventory
2.1
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 45.5% 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.
905 total
SNLR
66.8%
prior month 68.1%
Months of inventory
1.3
905 total sits in a seller's market: 66.8% of new listings sold and 1.3 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
$838,596
- Sales
- 591
- SNLR
- 29.6%
- MOI
- 3.9
Aggregated across 2 districts · View →
Midtown
$1,643,680
- Sales
- 328
- SNLR
- 40.2%
- MOI
- 2.7
Aggregated across 6 districts · View →
Scarborough
$800,739
- Sales
- 703
- SNLR
- 60.2%
- MOI
- 1.2
Aggregated across 8 districts · View →
York Region
$1,091,433
- Sales
- 1,933
- SNLR
- 55.9%
- MOI
- 1.9
Region total · View →
Durham Region
$734,136
- Sales
- 1,515
- SNLR
- 82.4%
- 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.