Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,242,793
MoM +$84,944 +7.3% up $84,944, 7.3% versus December 2021 YoY +28.4% up 28.4% versus January 2021
Source: TRREB MarketWatch, January 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
January 2022
In January 2022 the average selling price across the Greater Toronto Area rose 7.3% to $1,242,793 versus December 2021, and sales fell 6.5% to 5,636, 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.
$1,100,000
MoM +$82,900 +8.2% up $82,900, 8.2% versus December 2021 YoY +32.5% up 32.5% versus January 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,259,900
MoM +$51,900 +4.3% up $51,900, 4.3% versus December 2021 YoY +33.3% up 33.3% versus January 2021
Sales — Firm transactions reported through the MLS® System during the month.
5,636
MoM −395 −6.5% down 395, 6.5% versus December 2021 YoY −18.6% down 18.6% versus January 2021
Dollar volume — Total value of all sales in the month.
$7.00B
MoM +$21,394,184 +0.3% up $21,394,184, 0.3% versus December 2021 YoY +4.5% up 4.5% versus January 2021
New listings — Properties newly listed during the month.
7,979
MoM +2,805 +54.2% up 2,805, 54.2% versus December 2021 YoY −15.4% down 15.4% versus January 2021
Active listings — Listings available at month end.
4,140
MoM +908 +28.1% up 908, 28.1% versus December 2021 YoY −44.0% down 44.0% versus January 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
13
MoM −1 day −7.1% down 1 day, 7.1% versus December 2021 YoY −45.8% down 45.8% versus January 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
18
MoM −1 day −5.3% down 1 day, 5.3% versus December 2021 YoY −45.5% down 45.5% versus January 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
113%
MoM +4.0 pp +3.7% up 4.0 pp, 3.7% versus December 2021 YoY +9.7% up 9.7% versus January 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
70.6%
MoM −45.9 pp −39.4% down 45.9 pp, 39.4% versus December 2021 YoY −3.9% down 3.9% versus January 2021
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 +37.1% up 0, 37.1% versus December 2021 YoY −31.2% down 31.2% versus January 2021
The month in 60 seconds
- Across all TRREB areas, new listings jumped 54.2% to 7,979 versus December 2021.
- Across all TRREB areas, active listings jumped 28.1% to 4,140 versus December 2021.
- Across all TRREB areas, the median selling price jumped 8.2% to $1,100,000 versus December 2021.
- Across all TRREB areas, the average selling price rose 7.3% to $1,242,793 versus December 2021.
- Across all TRREB areas, sales fell 6.5% to 5,636 versus December 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
6.3%
December 2021
Toronto unemployment rate
7.4%
December 2021
Inflation (CPI, year-over-year)
4.8%
December 2021
Bank of Canada overnight rate
0.25%
January 2022
Prime rate
2.45%
January 2022
1-year mortgage rate
2.79%
January 2022
3-year mortgage rate
3.49%
January 2022
5-year mortgage rate
4.79%
January 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,239 | −198 −8.1% down 198, 8.1% versus December 2021 | $1,741,318 | +$142,583 +8.9% up $142,583, 8.9% versus December 2021 | +28.0% up 28.0% |
| Semi-detached | 445 | −56 −11.2% down 56, 11.2% versus December 2021 | $1,312,273 | +$131,227 +11.1% up $131,227, 11.1% versus December 2021 | +31.6% up 31.6% |
| Att/row/townhouse | 458 | −44 −8.8% down 44, 8.8% versus December 2021 | $1,221,726 | +$85,069 +7.5% up $85,069, 7.5% versus December 2021 | +33.7% up 33.7% |
| Condo townhouse | 433 | −48 −10.0% down 48, 10.0% versus December 2021 | $936,264 | +$89,739 +10.6% up $89,739, 10.6% versus December 2021 | +33.8% up 33.8% |
| Condo apartment | 2,016 | −42 −2.0% down 42, 2.0% versus December 2021 | $748,566 | +$36,633 +5.1% up $36,633, 5.1% versus December 2021 | +24.6% up 24.6% |
| Link | 27 | −5 −15.6% down 5, 15.6% versus December 2021 | $1,346,407 | +$182,279 +15.7% up $182,279, 15.7% versus December 2021 | +41.6% up 41.6% |
| Co-op apartment | 5 | −1 −16.7% down 1, 16.7% versus December 2021 | $502,800 | −$399,842 −44.3% down $399,842, 44.3% versus December 2021 | −38.5% down 38.5% |
| Detached condo | 4 | −1 −20.0% down 1, 20.0% versus December 2021 | $1,007,000 | +$119,000 +13.4% up $119,000, 13.4% versus December 2021 | +44.6% up 44.6% |
| Co-ownership apartment | 9 | no change no change versus December 2021 | $517,168 | −$52,054 −9.1% down $52,054, 9.1% versus December 2021 | +17.4% up 17.4% |
Average price by home type
13 months to January 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Dec '21 | 1598735 | 1181046 | 1136657 | 846525 | 711933 |
| Jan '22 | 1741318 | 1312273 | 1221726 | 936264 | 748566 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +50.0% up 50.0%
- Toronto C04 +35.2% up 35.2%
- Toronto E05 +32.8% up 32.8%
- Toronto E11 +27.2% up 27.2%
- Brock +24.5% up 24.5%
Bottom 5
- King −18.9% down 18.9%
- Toronto C09 −18.3% down 18.3%
- Uxbridge −18.2% down 18.2%
- Toronto C06 −13.7% down 13.7%
- Toronto C03 −12.4% down 12.4%
Sales, month-over-month
Top 5
- Toronto E02 +61.5% up 61.5%
- Toronto C12 +46.7% up 46.7%
- Toronto W09 +46.4% up 46.4%
- Toronto W01 +40.0% up 40.0%
- Toronto E01 +38.2% up 38.2%
Bottom 5
- Toronto C11 −40.0% down 40.0%
- Toronto W03 −38.3% down 38.3%
- Toronto C02 −35.7% down 35.7%
- Toronto C09 −34.5% down 34.5%
- Toronto E04 −32.9% down 32.9%
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
70.6%
prior month 116.6%
Months of inventory
0.7
All TRREB areas sits in a seller's market: 70.6% of new listings sold and 0.7 months of inventory on hand.
City of Toronto (416)
SNLR
72.3%
prior month 122.0%
Months of inventory
0.8
City of Toronto (416) sits in a seller's market: 72.3% of new listings sold and 0.8 months of inventory on hand.
905 total
SNLR
69.6%
prior month 113.2%
Months of inventory
0.7
905 total sits in a seller's market: 69.6% of new listings sold and 0.7 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
$850,414
- Sales
- 639
- SNLR
- 78.8%
- MOI
- 0.9
Aggregated across 2 districts · View →
Midtown
$1,475,263
- Sales
- 189
- SNLR
- 52.5%
- MOI
- 1.6
Aggregated across 6 districts · View →
Scarborough
$1,045,803
- Sales
- 360
- SNLR
- 74.4%
- MOI
- 0.5
Aggregated across 8 districts · View →
York Region
$1,519,583
- Sales
- 920
- SNLR
- 62.8%
- MOI
- 0.9
Region total · View →
Durham Region
$1,175,010
- Sales
- 609
- SNLR
- 69.7%
- MOI
- 0.6
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.