Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,095,617
MoM +$56,949 +5.5% up $56,949, 5.5% versus January 2023 YoY −17.9% down 17.9% versus February 2022
Source: TRREB MarketWatch, February 2023
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
February 2023
In February 2023 the average selling price across the Greater Toronto Area rose 5.5% to $1,095,617 versus January 2023, and sales jumped 54.3% to 4,783.
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.
$940,000
MoM +$40,000 +4.4% up $40,000, 4.4% versus January 2023 YoY −22.0% down 22.0% versus February 2022
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,091,300
MoM +$12,400 +1.1% up $12,400, 1.1% versus January 2023 YoY −17.7% down 17.7% versus February 2022
Sales — Firm transactions reported through the MLS® System during the month.
4,783
MoM +1,683 +54.3% up 1,683, 54.3% versus January 2023 YoY −47.4% down 47.4% versus February 2022
Dollar volume — Total value of all sales in the month.
$5.24B
MoM +$2,020,463,924 +62.7% up $2,020,463,924, 62.7% versus January 2023 YoY −56.8% down 56.8% versus February 2022
New listings — Properties newly listed during the month.
8,367
MoM +679 +8.8% up 679, 8.8% versus January 2023 YoY −40.9% down 40.9% versus February 2022
Active listings — Listings available at month end.
9,643
MoM +344 +3.7% up 344, 3.7% versus January 2023 YoY +38.1% up 38.1% versus February 2022
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
22
MoM −7 days −24.1% down 7 days, 24.1% versus January 2023 YoY +144.4% up 144.4% versus February 2022
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
33
MoM −8 days −19.5% down 8 days, 19.5% versus January 2023 YoY +200.0% up 200.0% versus February 2022
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
100%
MoM +2.0 pp +2.0% up 2.0 pp, 2.0% versus January 2023 YoY −13.8% down 13.8% versus February 2022
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
57.2%
MoM +16.8 pp +41.8% up 16.8 pp, 41.8% versus January 2023 YoY −11.1% down 11.1% versus February 2022
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.
2.0
MoM −1 −32.8% down 1, 32.8% versus January 2023 YoY +162.6% up 162.6% versus February 2022
The month in 60 seconds
- Across all TRREB areas, sales jumped 54.3% to 4,783 versus January 2023.
- Across all TRREB areas, new listings jumped 8.8% to 8,367 versus January 2023.
- Across all TRREB areas, the average selling price rose 5.5% to $1,095,617 versus January 2023.
- Across all TRREB areas, the median selling price rose 4.4% to $940,000 versus January 2023.
- Across all TRREB areas, active listings rose 3.7% to 9,643 versus January 2023.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
0%
Q4 2022
Toronto employment growth
0.3%
January 2023
Toronto unemployment rate
6%
January 2023
Inflation (CPI, year-over-year)
5.9%
January 2023
Bank of Canada overnight rate
4.5%
February 2023
Prime rate
6.7%
February 2023
1-year mortgage rate
6.34%
February 2023
3-year mortgage rate
6.14%
February 2023
5-year mortgage rate
6.49%
February 2023
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,075 | +691 +49.9% up 691, 49.9% versus January 2023 | $1,439,735 | +$97,887 +7.3% up $97,887, 7.3% versus January 2023 | −19.9% down 19.9% |
| Semi-detached | 399 | +159 +66.3% up 159, 66.3% versus January 2023 | $1,069,266 | +$49,598 +4.9% up $49,598, 4.9% versus January 2023 | −21.3% down 21.3% |
| Att/row/townhouse | 463 | +186 +67.1% up 186, 67.1% versus January 2023 | $1,050,342 | +$73,842 +7.6% up $73,842, 7.6% versus January 2023 | −16.3% down 16.3% |
| Condo townhouse | 358 | +136 +61.3% up 136, 61.3% versus January 2023 | $785,448 | +$8,750 +1.1% up $8,750, 1.1% versus January 2023 | −18.5% down 18.5% |
| Condo apartment | 1,455 | +505 +53.2% up 505, 53.2% versus January 2023 | $705,472 | +$17,776 +2.6% up $17,776, 2.6% versus January 2023 | −11.8% down 11.8% |
| Link | 24 | +10 +71.4% up 10, 71.4% versus January 2023 | $1,118,949 | +$151,688 +15.7% up $151,688, 15.7% versus January 2023 | −14.1% down 14.1% |
| Co-op apartment | 4 | +1 +33.3% up 1, 33.3% versus January 2023 | $476,472 | −$57,361 −10.7% down $57,361, 10.7% versus January 2023 | −22.3% down 22.3% |
| Detached condo | 2 | −3 −60.0% down 3, 60.0% versus January 2023 | $1,044,500 | +$105,500 +11.2% up $105,500, 11.2% versus January 2023 | −13.3% down 13.3% |
| Co-ownership apartment | 3 | −2 −40.0% down 2, 40.0% versus January 2023 | $478,504 | +$85,304 +21.7% up $85,304, 21.7% versus January 2023 | −17.6% down 17.6% |
Average price by home type
13 months to February 2023
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Sep '22 | 1369186 | 1043120 | 990242 | 803964 | 730818 |
| Oct '22 | 1372438 | 1079393 | 1023934 | 802969 | 716515 |
| Nov '22 | 1390162 | 1039200 | 993557 | 799029 | 708636 |
| Dec '22 | 1384586 | 1009479 | 954312 | 772038 | 705659 |
| Jan '23 | 1341848 | 1019668 | 976500 | 776698 | 687696 |
| Feb '23 | 1439735 | 1069266 | 1050342 | 785448 | 705472 |
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 +56.8% up 56.8%
- Toronto E06 +53.6% up 53.6%
- Toronto C11 +53.0% up 53.0%
- Toronto C13 +28.3% up 28.3%
- Brock +28.1% up 28.1%
Bottom 5
- Caledon −25.1% down 25.1%
- Toronto E11 −18.5% down 18.5%
- Aurora −18.3% down 18.3%
- Toronto C09 −18.0% down 18.0%
- Toronto W07 −17.6% down 17.6%
Sales, month-over-month
Top 5
- Toronto C12 +200.0% up 200.0%
- King +155.6% up 155.6%
- Caledon +139.3% up 139.3%
- Brock +133.3% up 133.3%
- Toronto W01 +131.3% up 131.3%
Bottom 5
- Toronto C04 −2.9% down 2.9%
- Toronto E05 +3.2% up 3.2%
- Uxbridge +7.1% up 7.1%
- Toronto W10 +10.7% up 10.7%
- Toronto W08 +11.9% up 11.9%
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
57.2%
prior month 40.3%
Months of inventory
2.0
All TRREB areas reads differently on the two balance measures — balanced conditions at 57.2% sales-to-new-listings, but a seller's market at 2.0 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
52.7%
prior month 36.8%
Months of inventory
2.4
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 52.7% 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
60.1%
prior month 42.6%
Months of inventory
1.8
905 total sits in a seller's market: 60.1% of new listings sold and 1.8 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
$868,709
- Sales
- 386
- SNLR
- 46.4%
- MOI
- 3.0
Aggregated across 2 districts · View →
Midtown
$1,573,736
- Sales
- 205
- SNLR
- 47.9%
- MOI
- 2.8
Aggregated across 6 districts · View →
Scarborough
$909,857
- Sales
- 267
- SNLR
- 60.5%
- MOI
- 1.7
Aggregated across 8 districts · View →
York Region
$1,302,720
- Sales
- 910
- SNLR
- 60.9%
- MOI
- 1.8
Region total · View →
Durham Region
$888,448
- Sales
- 601
- SNLR
- 67.1%
- MOI
- 1.3
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.