Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,079,500
MoM +$4,746 +0.4% up $4,746, 0.4% versus July 2022 YoY +0.8% up 0.8% versus August 2021
Source: TRREB MarketWatch, August 2022
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
August 2022
In August 2022 the average selling price across the Greater Toronto Area held steady at $1,079,500 versus July 2022, and sales jumped 14.6% to 5,627, though a summer slowdown 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.
$930,000
MoM −$10,000 −1.1% down $10,000, 1.1% versus July 2022 YoY +0.5% up 0.5% versus August 2021
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,124,600
MoM −$32,900 −2.8% down $32,900, 2.8% versus July 2022 YoY +8.8% up 8.8% versus August 2021
Sales — Firm transactions reported through the MLS® System during the month.
5,627
MoM +715 +14.6% up 715, 14.6% versus July 2022 YoY −34.5% down 34.5% versus August 2021
Dollar volume — Total value of all sales in the month.
$6.07B
MoM +$795,155,976 +15.1% up $795,155,976, 15.1% versus July 2022 YoY −34.0% down 34.0% versus August 2021
New listings — Properties newly listed during the month.
10,537
MoM −1,509 −12.5% down 1,509, 12.5% versus July 2022 YoY −0.7% down 0.7% versus August 2021
Active listings — Listings available at month end.
13,305
MoM −2,029 −13.2% down 2,029, 13.2% versus July 2022 YoY +62.2% up 62.2% versus August 2021
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
22
MoM +3 days +15.8% up 3 days, 15.8% versus July 2022 YoY +37.5% up 37.5% versus August 2021
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
34
MoM +5 days +17.2% up 5 days, 17.2% versus July 2022 YoY +61.9% up 61.9% versus August 2021
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
98%
MoM −1.0 pp −1.0% down 1.0 pp, 1.0% versus July 2022 YoY −6.7% down 6.7% versus August 2021
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
53.4%
MoM +12.6 pp +31.0% up 12.6 pp, 31.0% versus July 2022 YoY −34.1% down 34.1% versus August 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.
2.4
MoM −1 −24.3% down 1, 24.3% versus July 2022 YoY +147.8% up 147.8% versus August 2021
The month in 60 seconds
- Across all TRREB areas, sales jumped 14.6% to 5,627 versus July 2022.
- Across all TRREB areas, active listings dropped 13.2% to 13,305 versus July 2022.
- Across all TRREB areas, new listings dropped 12.5% to 10,537 versus July 2022.
- Across all TRREB areas, the median selling price edged down 1.1% to $930,000 versus July 2022.
- Across all TRREB areas, the average sale-to-list ratio edged down 1.0% to 98.0% versus July 2022.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
3.3%
Q2 2022
Toronto employment growth
7%
July 2022
Toronto unemployment rate
5.9%
July 2022
Inflation (CPI, year-over-year)
7.6%
July 2022
Bank of Canada overnight rate
2.5%
July 2022
Prime rate
4.7%
August 2022
1-year mortgage rate
5.19%
August 2022
3-year mortgage rate
5.64%
August 2022
5-year mortgage rate
6.14%
August 2022
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,595 | +392 +17.8% up 392, 17.8% versus July 2022 | $1,379,700 | +$17,102 +1.3% up $17,102, 1.3% versus July 2022 | −3.1% down 3.1% |
| Semi-detached | 526 | +52 +11.0% up 52, 11.0% versus July 2022 | $998,490 | −$79,260 −7.4% down $79,260, 7.4% versus July 2022 | −3.2% down 3.2% |
| Att/row/townhouse | 524 | +95 +22.1% up 95, 22.1% versus July 2022 | $987,308 | −$10,360 −1.0% down $10,360, 1.0% versus July 2022 | +1.0% up 1.0% |
| Condo townhouse | 411 | +24 +6.2% up 24, 6.2% versus July 2022 | $789,386 | −$10,567 −1.3% down $10,567, 1.3% versus July 2022 | +3.2% up 3.2% |
| Condo apartment | 1,507 | +142 +10.4% up 142, 10.4% versus July 2022 | $711,321 | −$7,952 −1.1% down $7,952, 1.1% versus July 2022 | +3.3% up 3.3% |
| Link | 47 | +9 +23.7% up 9, 23.7% versus July 2022 | $946,706 | −$6,436 −0.7% down $6,436, 0.7% versus July 2022 | −8.9% down 8.9% |
| Co-op apartment | 9 | +2 +28.6% up 2, 28.6% versus July 2022 | $445,159 | −$229,655 −34.0% down $229,655, 34.0% versus July 2022 | −41.6% down 41.6% |
| Detached condo | 6 | +1 +20.0% up 1, 20.0% versus July 2022 | $950,833 | +$64,853 +7.3% up $64,853, 7.3% versus July 2022 | +18.9% up 18.9% |
| Co-ownership apartment | 2 | −2 −50.0% down 2, 50.0% versus July 2022 | $434,000 | −$9,500 −2.1% down $9,500, 2.1% versus July 2022 | −18.9% down 18.9% |
Average price by home type
13 months to August 2022
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Jul '22 | 1362598 | 1077750 | 997668 | 799953 | 719273 |
| Aug '22 | 1379700 | 998490 | 987308 | 789386 | 711321 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C12 +136.4% up 136.4%
- King +30.1% up 30.1%
- Toronto C04 +25.1% up 25.1%
- Toronto C14 +15.7% up 15.7%
- Uxbridge +14.2% up 14.2%
Bottom 5
- Toronto W07 −33.3% down 33.3%
- Toronto E06 −25.9% down 25.9%
- Toronto C02 −24.3% down 24.3%
- Toronto E01 −19.3% down 19.3%
- Toronto C09 −14.5% down 14.5%
Sales, month-over-month
Top 5
- Toronto C12 +320.0% up 320.0%
- Toronto C11 +76.9% up 76.9%
- East Gwillimbury +61.5% up 61.5%
- Caledon +57.5% up 57.5%
- Georgina +51.2% up 51.2%
Bottom 5
- Toronto W02 −47.4% down 47.4%
- Toronto E02 −46.9% down 46.9%
- Toronto W07 −41.2% down 41.2%
- Toronto C09 −31.3% down 31.3%
- Toronto W03 −30.3% down 30.3%
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
53.4%
prior month 40.8%
Months of inventory
2.4
All TRREB areas reads differently on the two balance measures — balanced conditions at 53.4% 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.
City of Toronto (416)
SNLR
50.0%
prior month 41.7%
Months of inventory
2.7
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 50.0% sales-to-new-listings, but a seller's market at 2.7 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
55.3%
prior month 40.2%
Months of inventory
2.2
905 total reads differently on the two balance measures — balanced conditions at 55.3% sales-to-new-listings, but a seller's market at 2.2 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
$827,468
- Sales
- 449
- SNLR
- 53.1%
- MOI
- 2.8
Aggregated across 2 districts · View →
Midtown
$1,455,947
- Sales
- 192
- SNLR
- 44.2%
- MOI
- 3.3
Aggregated across 6 districts · View →
Scarborough
$906,842
- Sales
- 363
- SNLR
- 54.5%
- MOI
- 2.1
Aggregated across 8 districts · View →
York Region
$1,265,628
- Sales
- 1,063
- SNLR
- 59.6%
- MOI
- 2.2
Region total · View →
Durham Region
$920,269
- Sales
- 806
- SNLR
- 63.2%
- MOI
- 1.4
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.