Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,163,323
MoM +$7,978 +0.7% up $7,978, 0.7% versus October 2021 YoY +21.7% up 21.7% versus November 2020
Source: TRREB MarketWatch, November 2021
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
November 2021
In November 2021 the average selling price across the Greater Toronto Area held steady at $1,163,323 versus October 2021, and sales fell 7.8% to 9,017.
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.
$999,999
MoM +$1,099 +0.1% up $1,099, 0.1% versus October 2021 YoY +20.5% up 20.5% versus November 2020
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,172,900
MoM +$44,300 +3.9% up $44,300, 3.9% versus October 2021 YoY +28.3% up 28.3% versus November 2020
Sales — Firm transactions reported through the MLS® System during the month.
9,017
MoM −766 −7.8% down 766, 7.8% versus October 2021 YoY +2.9% up 2.9% versus November 2020
Dollar volume — Total value of all sales in the month.
$10.49B
MoM −$813,053,471 −7.2% down $813,053,471, 7.2% versus October 2021 YoY +25.2% up 25.2% versus November 2020
New listings — Properties newly listed during the month.
10,036
MoM −1,704 −14.5% down 1,704, 14.5% versus October 2021 YoY −13.1% down 13.1% versus November 2020
Active listings — Listings available at month end.
6,086
MoM −1,664 −21.5% down 1,664, 21.5% versus October 2021 YoY −55.9% down 55.9% versus November 2020
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
13
MoM no change no change versus October 2021 YoY −31.6% down 31.6% versus November 2020
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
18
MoM no change no change versus October 2021 YoY −35.7% down 35.7% versus November 2020
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
108%
MoM +1.0 pp +0.9% up 1.0 pp, 0.9% versus October 2021 YoY +6.9% up 6.9% versus November 2020
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
89.8%
MoM +6.5 pp +7.8% up 6.5 pp, 7.8% versus October 2021 YoY +18.3% up 18.3% versus November 2020
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.
0.7
MoM −0 −14.8% down 0, 14.8% versus October 2021 YoY −57.1% down 57.1% versus November 2020
The month in 60 seconds
- Across all TRREB areas, active listings dropped 21.5% to 6,086 versus October 2021.
- Across all TRREB areas, new listings dropped 14.5% to 10,036 versus October 2021.
- Across all TRREB areas, sales fell 7.8% to 9,017 versus October 2021.
- Across all TRREB areas, the average sale-to-list ratio held steady at 108.0% versus October 2021.
- Across all TRREB areas, the average selling price held steady at $1,163,323 versus October 2021.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
5.3%
Q3 2021
Toronto employment growth
6.1%
October 2021
Toronto unemployment rate
8.4%
October 2021
Inflation (CPI, year-over-year)
4.7%
October 2021
Bank of Canada overnight rate
0.25%
November 2021
Prime rate
2.45%
November 2021
1-year mortgage rate
2.79%
November 2021
3-year mortgage rate
3.49%
November 2021
5-year mortgage rate
4.79%
November 2021
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,857 | −422 −9.9% down 422, 9.9% versus October 2021 | $1,567,832 | +$27,400 +1.8% up $27,400, 1.8% versus October 2021 | +30.4% up 30.4% |
| Semi-detached | 755 | −123 −14.0% down 123, 14.0% versus October 2021 | $1,206,016 | +$54,246 +4.7% up $54,246, 4.7% versus October 2021 | +27.4% up 27.4% |
| Att/row/townhouse | 730 | −102 −12.3% down 102, 12.3% versus October 2021 | $1,095,570 | +$10,023 +0.9% up $10,023, 0.9% versus October 2021 | +31.5% up 31.5% |
| Condo townhouse | 719 | −78 −9.8% down 78, 9.8% versus October 2021 | $826,475 | +$3,458 +0.4% up $3,458, 0.4% versus October 2021 | +25.7% up 25.7% |
| Condo apartment | 2,868 | −31 −1.1% down 31, 1.1% versus October 2021 | $715,104 | +$11,406 +1.6% up $11,406, 1.6% versus October 2021 | +18.0% up 18.0% |
| Link | 62 | −8 −11.4% down 8, 11.4% versus October 2021 | $1,115,305 | +$40,689 +3.8% up $40,689, 3.8% versus October 2021 | +22.2% up 22.2% |
| Co-op apartment | 11 | +3 +37.5% up 3, 37.5% versus October 2021 | $683,302 | −$160,323 −19.0% down $160,323, 19.0% versus October 2021 | +13.3% up 13.3% |
| Detached condo | 7 | −4 −36.4% down 4, 36.4% versus October 2021 | $908,286 | −$374,759 −29.2% down $374,759, 29.2% versus October 2021 | +46.5% up 46.5% |
| Co-ownership apartment | 8 | −1 −11.1% down 1, 11.1% versus October 2021 | $508,813 | −$18,965 −3.6% down $18,965, 3.6% versus October 2021 | n/a not available, prior month not on file |
Average price by home type
13 months to November 2021
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| Nov '20 | 1202281 | 946735 | 833114 | 657370 | 605863 |
| Dec '20 | 1240632 | 939660 | 871210 | 669204 | 600840 |
| Jan '21 | 1359915 | 996794 | 913923 | 699713 | 600830 |
| Feb '21 | 1371791 | 1050820 | 941037 | 744854 | 642346 |
| Mar '21 | 1402849 | 1045519 | 951984 | 765521 | 676052 |
| Apr '21 | 1387629 | 1068923 | 946412 | 753943 | 691791 |
| May '21 | 1415698 | 1064361 | 949983 | 761266 | 682280 |
| Jun '21 | 1407540 | 1055640 | 945212 | 755622 | 683479 |
| Jul '21 | 1405478 | 1027895 | 950038 | 748433 | 674490 |
| Aug '21 | 1423807 | 1031580 | 977127 | 764742 | 688568 |
| Sep '21 | 1526465 | 1114696 | 1016269 | 789983 | 708521 |
| Oct '21 | 1540432 | 1151770 | 1085547 | 823017 | 703698 |
| Nov '21 | 1567832 | 1206016 | 1095570 | 826475 | 715104 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C06 +24.7% up 24.7%
- Toronto C11 +22.7% up 22.7%
- Toronto C10 +20.3% up 20.3%
- Toronto E11 +18.1% up 18.1%
- Toronto C09 +17.6% up 17.6%
Bottom 5
- Toronto C13 −18.9% down 18.9%
- Toronto E08 −17.7% down 17.7%
- Toronto C04 −17.1% down 17.1%
- Toronto W01 −17.0% down 17.0%
- Toronto E06 −9.7% down 9.7%
Sales, month-over-month
Top 5
- Toronto W07 +20.8% up 20.8%
- Toronto E09 +18.5% up 18.5%
- Toronto C10 +18.3% up 18.3%
- Toronto C06 +14.3% up 14.3%
- Toronto W09 +14.3% up 14.3%
Bottom 5
- Uxbridge −43.8% down 43.8%
- Brock −41.7% down 41.7%
- Toronto E01 −39.8% down 39.8%
- Toronto C11 −31.0% down 31.0%
- Toronto C12 −29.7% down 29.7%
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
89.8%
prior month 83.3%
Months of inventory
0.7
All TRREB areas sits in a seller's market: 89.8% of new listings sold and 0.7 months of inventory on hand.
City of Toronto (416)
SNLR
84.4%
prior month 73.8%
Months of inventory
0.9
City of Toronto (416) sits in a seller's market: 84.4% of new listings sold and 0.9 months of inventory on hand.
905 total
SNLR
93.8%
prior month 90.7%
Months of inventory
0.5
905 total sits in a seller's market: 93.8% of new listings sold and 0.5 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
$913,760
- Sales
- 825
- SNLR
- 74.6%
- MOI
- 1.2
Aggregated across 2 districts · View →
Midtown
$1,686,239
- Sales
- 423
- SNLR
- 84.3%
- MOI
- 1.2
Aggregated across 6 districts · View →
Scarborough
$945,059
- Sales
- 628
- SNLR
- 94.0%
- MOI
- 0.5
Aggregated across 8 districts · View →
York Region
$1,394,713
- Sales
- 1,583
- SNLR
- 88.1%
- MOI
- 0.7
Region total · View →
Durham Region
$998,594
- Sales
- 1,013
- SNLR
- 97.0%
- MOI
- 0.4
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.