Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$960,772
MoM +$9,368 +1.0% up $9,368, 1.0% versus August 2020 YoY +14.0% up 14.0% versus September 2019
Source: TRREB MarketWatch, September 2020
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
September 2020
In September 2020 the average selling price across the Greater Toronto Area held steady at $960,772 versus August 2020, and sales edged up 2.9% to 11,083.
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.
$830,251
MoM +$9,251 +1.1% up $9,251, 1.1% versus August 2020 YoY +15.3% up 15.3% versus September 2019
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$897,700
MoM +$7,300 +0.8% up $7,300, 0.8% versus August 2020 YoY +11.6% up 11.6% versus September 2019
Sales — Firm transactions reported through the MLS® System during the month.
11,083
MoM +308 +2.9% up 308, 2.9% versus August 2020 YoY +41.6% up 41.6% versus September 2019
Dollar volume — Total value of all sales in the month.
$10.65B
MoM +$396,860,491 +3.9% up $396,860,491, 3.9% versus August 2020 YoY +61.4% up 61.4% versus September 2019
New listings — Properties newly listed during the month.
20,420
MoM +1,929 +10.4% up 1,929, 10.4% versus August 2020 YoY +30.8% up 30.8% versus September 2019
Active listings — Listings available at month end.
18,167
MoM +1,505 +9.0% up 1,505, 9.0% versus August 2020 YoY +5.3% up 5.3% versus September 2019
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
16
MoM −1 day −5.9% down 1 day, 5.9% versus August 2020 YoY n/a not available, prior month not on file versus September 2019
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
22
MoM −2 days −8.3% down 2 days, 8.3% versus August 2020 YoY n/a not available, prior month not on file versus September 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 August 2020 YoY +2.0% up 2.0% versus September 2019
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
54.3%
MoM −4.0 pp −6.9% down 4.0 pp, 6.9% versus August 2020 YoY +8.3% up 8.3% versus September 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 +6.0% up 0, 6.0% versus August 2020 YoY −25.7% down 25.7% versus September 2019
The month in 60 seconds
- Across all TRREB areas, new listings jumped 10.4% to 20,420 versus August 2020.
- Across all TRREB areas, active listings jumped 9.0% to 18,167 versus August 2020.
- Across all TRREB areas, sales edged up 2.9% to 11,083 versus August 2020.
- Across all TRREB areas, the median selling price edged up 1.1% to $830,251 versus August 2020.
- Across all TRREB areas, the average selling price held steady at $960,772 versus August 2020.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
—
period not printed
Toronto employment growth
-8.1%
August 2020
Toronto unemployment rate
13.9%
August 2020
Inflation (CPI, year-over-year)
0.1%
August 2020
Bank of Canada overnight rate
0.25%
September 2020
Prime rate
2.45%
September 2020
1-year mortgage rate
3.09%
September 2020
3-year mortgage rate
3.59%
September 2020
5-year mortgage rate
4.79%
September 2020
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 5,559 | +130 +2.4% up 130, 2.4% versus August 2020 | $1,184,700 | +$11,820 +1.0% up $11,820, 1.0% versus August 2020 | +12.8% up 12.8% |
| Semi-detached | 1,140 | +76 +7.1% up 76, 7.1% versus August 2020 | $922,269 | +$16,557 +1.8% up $16,557, 1.8% versus August 2020 | +10.6% up 10.6% |
| Att/row/townhouse | 1,051 | −6 −0.6% down 6, 0.6% versus August 2020 | $822,046 | +$15,807 +2.0% up $15,807, 2.0% versus August 2020 | +13.1% up 13.1% |
| Condo townhouse | 846 | +28 +3.4% up 28, 3.4% versus August 2020 | $656,991 | −$3,186 −0.5% down $3,186, 0.5% versus August 2020 | +6.3% up 6.3% |
| Condo apartment | 2,367 | +81 +3.5% up 81, 3.5% versus August 2020 | $634,756 | +$5,113 +0.8% up $5,113, 0.8% versus August 2020 | +6.7% up 6.7% |
| Link | 86 | −13 −13.1% down 13, 13.1% versus August 2020 | $808,384 | +$54,544 +7.2% up $54,544, 7.2% versus August 2020 | +7.7% up 7.7% |
| Co-op apartment | 11 | +6 +120.0% up 6, 120.0% versus August 2020 | $432,345 | −$185,455 −30.0% down $185,455, 30.0% versus August 2020 | +12.3% up 12.3% |
| Detached condo | 19 | +6 +46.2% up 6, 46.2% versus August 2020 | $691,646 | +$29,242 +4.4% up $29,242, 4.4% versus August 2020 | −6.4% down 6.4% |
| Co-ownership apartment | 4 | no change no change versus August 2020 | $357,750 | −$197,375 −35.6% down $197,375, 35.6% versus August 2020 | +20.6% up 20.6% |
Average price by home type
13 months to September 2020
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Sep '20 | 1184700 | 922269 | 822046 | 656991 | 634756 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto W01 +22.8% up 22.8%
- Toronto C03 +18.6% up 18.6%
- Toronto C07 +17.3% up 17.3%
- Toronto E07 +13.6% up 13.6%
- Toronto C04 +9.5% up 9.5%
Bottom 5
- Toronto C13 −28.0% down 28.0%
- Toronto C12 −15.4% down 15.4%
- Brock −13.4% down 13.4%
- Toronto E05 −11.4% down 11.4%
- Toronto C11 −10.7% down 10.7%
Sales, month-over-month
Top 5
- Toronto E01 +42.4% up 42.4%
- Toronto C03 +32.6% up 32.6%
- Toronto C10 +29.3% up 29.3%
- Toronto W09 +26.2% up 26.2%
- Toronto C13 +25.4% up 25.4%
Bottom 5
- Toronto C11 −37.0% down 37.0%
- Brock −30.0% down 30.0%
- Uxbridge −24.6% down 24.6%
- East Gwillimbury −14.9% down 14.9%
- Toronto E06 −14.3% down 14.3%
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
54.3%
prior month 58.3%
Months of inventory
1.6
All TRREB areas reads differently on the two balance measures — balanced conditions at 54.3% 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
40.9%
prior month 45.5%
Months of inventory
2.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 40.9% sales-to-new-listings, but a seller's market at 2.4 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
64.2%
prior month 66.8%
Months of inventory
1.3
905 total sits in a seller's market: 64.2% 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
$845,956
- Sales
- 623
- SNLR
- 25.0%
- MOI
- 4.6
Aggregated across 2 districts · View →
Midtown
$1,701,718
- Sales
- 345
- SNLR
- 34.9%
- MOI
- 3.2
Aggregated across 6 districts · View →
Scarborough
$814,153
- Sales
- 709
- SNLR
- 59.9%
- MOI
- 1.3
Aggregated across 8 districts · View →
York Region
$1,066,380
- Sales
- 2,038
- SNLR
- 53.2%
- MOI
- 1.9
Region total · View →
Durham Region
$734,038
- Sales
- 1,492
- SNLR
- 79.7%
- 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.