Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,135,215
MoM +$27,924 +2.5% up $27,924, 2.5% versus September 2024 YoY +0.8% up 0.8% versus October 2023
Source: TRREB MarketWatch, October 2024
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
October 2024
In October 2024 the average selling price across the Greater Toronto Area edged up 2.5% to $1,135,215 versus September 2024, and sales jumped 33.3% to 6,658.
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.
$960,000
MoM +$10,000 +1.1% up $10,000, 1.1% versus September 2024 YoY +0.1% up 0.1% versus October 2023
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,060,300
MoM −$8,400 −0.8% down $8,400, 0.8% versus September 2024 YoY −3.3% down 3.3% versus October 2023
Sales — Firm transactions reported through the MLS® System during the month.
6,658
MoM +1,662 +33.3% up 1,662, 33.3% versus September 2024 YoY +43.3% up 43.3% versus October 2023
Dollar volume — Total value of all sales in the month.
$7.56B
MoM +$2,026,236,528 +36.6% up $2,026,236,528, 36.6% versus September 2024 YoY +44.5% up 44.5% versus October 2023
New listings — Properties newly listed during the month.
15,328
MoM −2,761 −15.3% down 2,761, 15.3% versus September 2024 YoY +6.5% up 6.5% versus October 2023
Active listings — Listings available at month end.
24,481
MoM −1,131 −4.4% down 1,131, 4.4% versus September 2024 YoY +25.3% up 25.3% versus October 2023
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
27
MoM no change no change versus September 2024 YoY +28.6% up 28.6% versus October 2023
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
43
MoM no change no change versus September 2024 YoY +34.4% up 34.4% versus October 2023
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
99%
MoM no change no change versus September 2024 YoY no change no change versus October 2023
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
43.4%
MoM +15.8 pp +57.3% up 15.8 pp, 57.3% versus September 2024 YoY +34.6% up 34.6% versus October 2023
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.
3.7
MoM −1 −28.3% down 1, 28.3% versus September 2024 YoY −12.6% down 12.6% versus October 2023
The month in 60 seconds
- Across all TRREB areas, sales jumped 33.3% to 6,658 versus September 2024.
- Across all TRREB areas, new listings dropped 15.3% to 15,328 versus September 2024.
- Across all TRREB areas, active listings fell 4.4% to 24,481 versus September 2024.
- Across all TRREB areas, the average selling price edged up 2.5% to $1,135,215 versus September 2024.
- Across all TRREB areas, the median selling price edged up 1.1% to $960,000 versus September 2024.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.1%
Q2 2024
Toronto employment growth
2%
September 2024
Toronto unemployment rate
8%
September 2024
Inflation (CPI, year-over-year)
1.6%
September 2024
Bank of Canada overnight rate
3.8%
October 2024
Prime rate
6%
October 2024
1-year mortgage rate
7.24%
October 2024
3-year mortgage rate
6.54%
October 2024
5-year mortgage rate
6.49%
October 2024
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 3,139 | +785 +33.3% up 785, 33.3% versus September 2024 | $1,462,838 | +$39,782 +2.8% up $39,782, 2.8% versus September 2024 | +0.9% up 0.9% |
| Semi-detached | 612 | +166 +37.2% up 166, 37.2% versus September 2024 | $1,108,376 | +$17,627 +1.6% up $17,627, 1.6% versus September 2024 | +0.5% up 0.5% |
| Att/row/townhouse | 681 | +185 +37.3% up 185, 37.3% versus September 2024 | $1,007,417 | +$24,761 +2.5% up $24,761, 2.5% versus September 2024 | −3.3% down 3.3% |
| Condo townhouse | 442 | +98 +28.5% up 98, 28.5% versus September 2024 | $785,827 | −$5,250 −0.7% down $5,250, 0.7% versus September 2024 | −0.7% down 0.7% |
| Condo apartment | 1,722 | +410 +31.3% up 410, 31.3% versus September 2024 | $694,038 | +$11,495 +1.7% up $11,495, 1.7% versus September 2024 | −2.1% down 2.1% |
| Link | 39 | +12 +44.4% up 12, 44.4% versus September 2024 | $1,028,648 | +$28,989 +2.9% up $28,989, 2.9% versus September 2024 | −7.6% down 7.6% |
| Co-op apartment | 10 | +7 +233.3% up 7, 233.3% versus September 2024 | $688,250 | +$286,083 +71.1% up $286,083, 71.1% versus September 2024 | −2.2% down 2.2% |
| Detached condo | 10 | no change no change versus September 2024 | $1,115,000 | +$44,700 +4.2% up $44,700, 4.2% versus September 2024 | +33.9% up 33.9% |
| Co-ownership apartment | 3 | −1 −25.0% down 1, 25.0% versus September 2024 | $473,233 | +$34,483 +7.9% up $34,483, 7.9% versus September 2024 | −13.4% down 13.4% |
Average price by home type
13 months to October 2024
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| Oct '23 | 1450112 | 1102721 | 1042124 | 791299 | 708780 |
| Nov '23 | 1403500 | 1060829 | 984357 | 778402 | 710501 |
| Dec '23 | 1418323 | 1027432 | 996162 | 790721 | 682525 |
| Jan '24 | 1350828 | 1038303 | 963504 | 792834 | 681979 |
| Feb '24 | 1443612 | 1123896 | 1034011 | 814412 | 695345 |
| Mar '24 | 1466397 | 1121645 | 1039124 | 821146 | 700046 |
| Apr '24 | 1516070 | 1139929 | 1044986 | 841266 | 728067 |
| May '24 | 1506675 | 1173819 | 1040141 | 836642 | 730815 |
| Jun '24 | 1480399 | 1102904 | 1021866 | 826268 | 727861 |
| Jul '24 | 1425927 | 1067576 | 1018731 | 794761 | 718698 |
| Aug '24 | 1414070 | 1026435 | 991307 | 760750 | 674706 |
| Sep '24 | 1423056 | 1090749 | 982656 | 791077 | 682543 |
| Oct '24 | 1462838 | 1108376 | 1007417 | 785827 | 694038 |
Movers this month
Ranked across 55 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C09 +54.0% up 54.0%
- Toronto C11 +31.9% up 31.9%
- King +26.2% up 26.2%
- Toronto C15 +14.4% up 14.4%
- Toronto E06 +13.7% up 13.7%
Bottom 5
- Brock −18.4% down 18.4%
- Toronto C14 −15.8% down 15.8%
- Toronto W07 −15.7% down 15.7%
- Toronto C06 −13.6% down 13.6%
- Toronto C03 −11.5% down 11.5%
Sales, month-over-month
Top 5
- Brock +125.0% up 125.0%
- Toronto C09 +120.0% up 120.0%
- Toronto W03 +106.9% up 106.9%
- Toronto E06 +95.0% up 95.0%
- East Gwillimbury +84.6% up 84.6%
Bottom 5
- Toronto W10 −14.9% down 14.9%
- Georgina −8.9% down 8.9%
- Toronto W07 −4.8% down 4.8%
- Toronto C06 −3.7% down 3.7%
- Newmarket no change no change
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
43.4%
prior month 27.6%
Months of inventory
3.7
All TRREB areas reads differently on the two balance measures — balanced conditions at 43.4% sales-to-new-listings, but a seller's market at 3.7 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
42.1%
prior month 25.6%
Months of inventory
3.9
City of Toronto (416) reads differently on the two balance measures — balanced conditions at 42.1% sales-to-new-listings, but a seller's market at 3.9 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
44.3%
prior month 28.9%
Months of inventory
3.5
905 total reads differently on the two balance measures — balanced conditions at 44.3% sales-to-new-listings, but a seller's market at 3.5 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
$878,106
- Sales
- 484
- SNLR
- 35.3%
- MOI
- 5.3
Aggregated across 2 districts · View →
Midtown
$1,942,379
- Sales
- 342
- SNLR
- 45.6%
- MOI
- 3.5
Aggregated across 6 districts · View →
Scarborough
$933,992
- Sales
- 427
- SNLR
- 45.2%
- MOI
- 3.1
Aggregated across 8 districts · View →
York Region
$1,310,681
- Sales
- 1,165
- SNLR
- 41.4%
- MOI
- 4.0
Region total · View →
Durham Region
$888,914
- Sales
- 888
- SNLR
- 50.3%
- MOI
- 2.5
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.