Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,146,254
MoM −$66,552 −5.5% down $66,552, 5.5% versus May 2022 YoY +5.2% up 5.2% versus June 2021
Source: TRREB MarketWatch, June 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
June 2022
In June 2022 the average selling price across the Greater Toronto Area fell 5.5% to $1,146,254 versus May 2022, and sales dropped 11.1% to 6,474.
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.
$985,000
MoM −$65,000 −6.2% down $65,000, 6.2% versus May 2022 YoY +5.3% up 5.3% versus June 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,204,900
MoM −$56,900 −4.5% down $56,900, 4.5% versus May 2022 YoY +17.9% up 17.9% versus June 2021
Sales — Firm transactions reported through the MLS® System during the month.
6,474
MoM −809 −11.1% down 809, 11.1% versus May 2022 YoY −41.7% down 41.7% versus June 2021
Dollar volume — Total value of all sales in the month.
$7.42B
MoM −$1,412,018,993 −16.0% down $1,412,018,993, 16.0% versus May 2022 YoY −38.7% down 38.7% versus June 2021
New listings — Properties newly listed during the month.
16,347
MoM −2,332 −12.5% down 2,332, 12.5% versus May 2022 YoY +1.0% up 1.0% versus June 2021
Active listings — Listings available at month end.
16,093
MoM +660 +4.3% up 660, 4.3% versus May 2022 YoY +42.5% up 42.5% versus June 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
15
MoM +3 days +25.0% up 3 days, 25.0% versus May 2022 YoY +15.4% up 15.4% versus June 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
24
MoM +6 days +33.3% up 6 days, 33.3% versus May 2022 YoY +41.2% up 41.2% versus June 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
100%
MoM −3.0 pp −2.9% down 3.0 pp, 2.9% versus May 2022 YoY −4.8% down 4.8% versus June 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
39.6%
MoM +0.6 pp +1.6% up 0.6 pp, 1.6% versus May 2022 YoY −42.3% down 42.3% versus June 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.
2.5
MoM +0 +17.3% up 0, 17.3% versus May 2022 YoY +144.4% up 144.4% versus June 2021
The month in 60 seconds
- Across all TRREB areas, new listings dropped 12.5% to 16,347 versus May 2022.
- Across all TRREB areas, sales dropped 11.1% to 6,474 versus May 2022.
- Across all TRREB areas, the median selling price fell 6.2% to $985,000 versus May 2022.
- Across all TRREB areas, the average selling price fell 5.5% to $1,146,254 versus May 2022.
- Across all TRREB areas, active listings rose 4.3% to 16,093 versus May 2022.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.1%
Q1 2022
Toronto employment growth
8.5%
May 2022
Toronto unemployment rate
6.2%
May 2022
Inflation (CPI, year-over-year)
7.7%
May 2022
Bank of Canada overnight rate
1.5%
June 2022
Prime rate
3.7%
June 2022
1-year mortgage rate
4.74%
June 2022
3-year mortgage rate
5.39%
June 2022
5-year mortgage rate
6.04%
June 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,012 | −354 −10.5% down 354, 10.5% versus May 2022 | $1,454,902 | −$94,596 −6.1% down $94,596, 6.1% versus May 2022 | +3.4% up 3.4% |
| Semi-detached | 634 | −118 −15.7% down 118, 15.7% versus May 2022 | $1,124,723 | −$80,170 −6.7% down $80,170, 6.7% versus May 2022 | +6.5% up 6.5% |
| Att/row/townhouse | 580 | −149 −20.4% down 149, 20.4% versus May 2022 | $1,028,977 | −$34,200 −3.2% down $34,200, 3.2% versus May 2022 | +8.9% up 8.9% |
| Condo townhouse | 517 | −5 −1.0% down 5, 1.0% versus May 2022 | $825,447 | −$31,666 −3.7% down $31,666, 3.7% versus May 2022 | +9.2% up 9.2% |
| Condo apartment | 1,678 | −170 −9.2% down 170, 9.2% versus May 2022 | $747,216 | −$23,678 −3.1% down $23,678, 3.1% versus May 2022 | +9.3% up 9.3% |
| Link | 32 | −10 −23.8% down 10, 23.8% versus May 2022 | $1,047,915 | −$3,330 −0.3% down $3,330, 0.3% versus May 2022 | +3.8% up 3.8% |
| Co-op apartment | 13 | +5 +62.5% up 5, 62.5% versus May 2022 | $724,231 | −$81,132 −10.1% down $81,132, 10.1% versus May 2022 | +17.9% up 17.9% |
| Detached condo | 3 | −8 −72.7% down 8, 72.7% versus May 2022 | $1,053,333 | +$23,853 +2.3% up $23,853, 2.3% versus May 2022 | +30.4% up 30.4% |
| Co-ownership apartment | 5 | no change no change versus May 2022 | $422,000 | −$13,200 −3.0% down $13,200, 3.0% versus May 2022 | +20.6% up 20.6% |
Average price by home type
13 months to June 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Feb '22 | 1797203 | 1358415 | 1254460 | 963700 | 799966 |
| Mar '22 | 1697396 | 1317048 | 1212542 | 948292 | 808566 |
| Apr '22 | 1628343 | 1259243 | 1119648 | 909207 | 789869 |
| May '22 | 1549498 | 1204893 | 1063177 | 857113 | 770894 |
| Jun '22 | 1454902 | 1124723 | 1028977 | 825447 | 747216 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C02 +23.9% up 23.9%
- Toronto C13 +19.8% up 19.8%
- Toronto C15 +15.0% up 15.0%
- Toronto E06 +10.7% up 10.7%
- Scugog +9.8% up 9.8%
Bottom 5
- Toronto C09 −34.3% down 34.3%
- Brock −30.9% down 30.9%
- Toronto C12 −29.8% down 29.8%
- Toronto C03 −27.3% down 27.3%
- Toronto E10 −17.9% down 17.9%
Sales, month-over-month
Top 5
- Brock +41.7% up 41.7%
- Toronto C13 +17.1% up 17.1%
- Toronto E03 +10.8% up 10.8%
- Toronto W04 +8.8% up 8.8%
- Toronto C08 +7.3% up 7.3%
Bottom 5
- Toronto W10 −40.8% down 40.8%
- Toronto C12 −37.9% down 37.9%
- Whitchurch-Stouffville −33.3% down 33.3%
- Toronto C04 −33.3% down 33.3%
- Toronto C03 −33.3% down 33.3%
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
39.6%
prior month 39.0%
Months of inventory
2.5
All TRREB areas reads differently on the two balance measures — a buyer's market at 39.6% sales-to-new-listings, but a seller's market at 2.5 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
40.5%
prior month 39.0%
Months of inventory
2.6
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 40.5% sales-to-new-listings, but a seller's market at 2.6 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
39.1%
prior month 39.0%
Months of inventory
2.4
905 total reads differently on the two balance measures — a buyer's market at 39.1% 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.
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
$891,014
- Sales
- 553
- SNLR
- 37.9%
- MOI
- 3.0
Aggregated across 2 districts · View →
Midtown
$1,792,568
- Sales
- 272
- SNLR
- 39.7%
- MOI
- 2.8
Aggregated across 6 districts · View →
Scarborough
$972,372
- Sales
- 425
- SNLR
- 43.3%
- MOI
- 2.1
Aggregated across 8 districts · View →
York Region
$1,307,857
- Sales
- 1,011
- SNLR
- 37.9%
- MOI
- 2.9
Region total · View →
Durham Region
$969,424
- Sales
- 967
- SNLR
- 48.9%
- MOI
- 1.5
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.