Average price — Mean sale price across all transactions. Sensitive to the mix of homes that sold.
$1,093,254
MoM +$8,707 +0.8% up $8,707, 0.8% versus February 2025 YoY −2.5% down 2.5% versus March 2024
Source: TRREB MarketWatch, March 2025
Greater Toronto Area · TRREB MarketWatch
GTA Real Estate Market Report
March 2025
In March 2025 the average selling price across the Greater Toronto Area held steady at $1,093,254 versus February 2025, and sales jumped 24.1% to 5,011.
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.
$945,000
MoM +$22,000 +2.4% up $22,000, 2.4% versus February 2025 YoY −3.3% down 3.3% versus March 2024
MLS® HPI benchmark — Quality-adjusted price for a typical home. The cleanest like-for-like price signal.
$1,068,500
MoM −$5,400 −0.5% down $5,400, 0.5% versus February 2025 YoY −3.8% down 3.8% versus March 2024
Sales — Firm transactions reported through the MLS® System during the month.
5,011
MoM +974 +24.1% up 974, 24.1% versus February 2025 YoY −23.6% down 23.6% versus March 2024
Dollar volume — Total value of all sales in the month.
$5.48B
MoM +$1,099,980,497 +25.1% up $1,099,980,497, 25.1% versus February 2025 YoY −25.5% down 25.5% versus March 2024
New listings — Properties newly listed during the month.
17,263
MoM +5,197 +43.1% up 5,197, 43.1% versus February 2025 YoY +31.6% up 31.6% versus March 2024
Active listings — Listings available at month end.
23,462
MoM +3,926 +20.1% up 3,926, 20.1% versus February 2025 YoY +88.3% up 88.3% versus March 2024
Avg. LDOM — Average days on market for the current listing. Not reported before 2020.
24
MoM −4 days −14.3% down 4 days, 14.3% versus February 2025 YoY +20.0% up 20.0% versus March 2024
Avg. PDOM — Average days on market across the property’s consecutive listings. Not reported before 2020.
36
MoM −7 days −16.3% down 7 days, 16.3% versus February 2025 YoY +24.1% up 24.1% versus March 2024
Avg. SP/LP — Average sale price as a share of list price. Above 100% means competing offers were common.
100%
MoM +1.0 pp +1.0% up 1.0 pp, 1.0% versus February 2025 YoY −2.0% down 2.0% versus March 2024
SNLR — Sales-to-new-listings ratio, computed here from this month’s counts. Below 40% favours buyers, above 60% favours sellers.
29.0%
MoM −4.4 pp −13.2% down 4.4 pp, 13.2% versus February 2025 YoY −41.9% down 41.9% versus March 2024
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.
4.7
MoM −0 −3.2% down 0, 3.2% versus February 2025 YoY +146.5% up 146.5% versus March 2024
The month in 60 seconds
- Across all TRREB areas, new listings jumped 43.1% to 17,263 versus February 2025.
- Across all TRREB areas, sales jumped 24.1% to 5,011 versus February 2025.
- Across all TRREB areas, active listings jumped 20.1% to 23,462 versus February 2025.
- Across all TRREB areas, the median selling price edged up 2.4% to $945,000 versus February 2025.
- Across all TRREB areas, the average sale-to-list ratio edged up 1.0% to 100.0% versus February 2025.
Generated from the figures above. Ordered by size of month-over-month move.
Economy
Indicators published with this edition
Real GDP growth
2.6%
Q4 2024
Toronto employment growth
2.5%
December 2024
Toronto unemployment rate
8.4%
December 2024
Inflation (CPI, year-over-year)
2.6%
February 2025
Bank of Canada overnight rate
2.8%
April 2025
Prime rate
5%
April 2025
1-year mortgage rate
6.79%
April 2025
3-year mortgage rate
6.54%
April 2025
5-year mortgage rate
6.49%
April 2025
By home type
All TRREB areas
| Home type | Sales | MoM | Average price | MoM | YoY |
|---|---|---|---|---|---|
| Detached | 2,155 | +449 +26.3% up 449, 26.3% versus February 2025 | $1,439,268 | −$6,611 −0.5% down $6,611, 0.5% versus February 2025 | −1.9% down 1.9% |
| Semi-detached | 485 | +129 +36.2% up 129, 36.2% versus February 2025 | $1,111,791 | +$31,795 +2.9% up $31,795, 2.9% versus February 2025 | −0.9% down 0.9% |
| Att/row/townhouse | 505 | +101 +25.0% up 101, 25.0% versus February 2025 | $1,001,043 | +$9,977 +1.0% up $9,977, 1.0% versus February 2025 | −3.7% down 3.7% |
| Condo townhouse | 394 | +98 +33.1% up 98, 33.1% versus February 2025 | $789,129 | −$13,733 −1.7% down $13,733, 1.7% versus February 2025 | −3.9% down 3.9% |
| Condo apartment | 1,404 | +179 +14.6% up 179, 14.6% versus February 2025 | $682,019 | −$6,036 −0.9% down $6,036, 0.9% versus February 2025 | −2.6% down 2.6% |
| Link | 47 | +9 +23.7% up 9, 23.7% versus February 2025 | $986,894 | −$16,859 −1.7% down $16,859, 1.7% versus February 2025 | −11.8% down 11.8% |
| Co-op apartment | 13 | +8 +160.0% up 8, 160.0% versus February 2025 | $592,675 | −$75,525 −11.3% down $75,525, 11.3% versus February 2025 | −20.0% down 20.0% |
| Detached condo | 7 | +3 +75.0% up 3, 75.0% versus February 2025 | $1,284,114 | +$489,614 +61.6% up $489,614, 61.6% versus February 2025 | +26.0% up 26.0% |
| Co-ownership apartment | 1 | −2 −66.7% down 2, 66.7% versus February 2025 | $378,000 | −$155,333 −29.1% down $155,333, 29.1% versus February 2025 | −20.2% down 20.2% |
Average price by home type
13 months to March 2025
| Month | Detached | Semi-detached | Att/row/townhouse | Condo townhouse | Condo apartment |
|---|---|---|---|---|---|
| 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 |
| Nov '24 | 1452518 | 1077254 | 994251 | 753352 | 689599 |
| Dec '24 | 1399209 | 1088543 | 1015505 | 767688 | 681855 |
| Jan '25 | 1377430 | 1047728 | 983856 | 802905 | 670675 |
| Feb '25 | 1445879 | 1079996 | 991066 | 802862 | 688055 |
| Mar '25 | 1439268 | 1111791 | 1001043 | 789129 | 682019 |
Movers this month
Ranked across 54 of the 55 required areas · minimum 10 sales to qualify
Average price, month-over-month
Top 5
- Toronto C04 +53.2% up 53.2%
- Toronto C11 +42.2% up 42.2%
- Scugog +34.0% up 34.0%
- Toronto E02 +27.7% up 27.7%
- Toronto C03 +20.8% up 20.8%
Bottom 5
- Toronto C12 −55.8% down 55.8%
- Toronto C09 −35.0% down 35.0%
- Toronto E11 −25.5% down 25.5%
- King −25.3% down 25.3%
- Toronto E08 −17.1% down 17.1%
Sales, month-over-month
Top 5
- Toronto C04 +156.0% up 156.0%
- Uxbridge +136.4% up 136.4%
- Toronto W09 +88.9% up 88.9%
- Toronto W08 +84.3% up 84.3%
- Toronto E11 +84.2% up 84.2%
Bottom 5
- Toronto C12 −50.0% down 50.0%
- East Gwillimbury −25.6% down 25.6%
- Toronto C06 −23.1% down 23.1%
- Toronto C02 −14.5% down 14.5%
- Toronto C03 −11.1% down 11.1%
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
29.0%
prior month 33.5%
Months of inventory
4.7
All TRREB areas reads differently on the two balance measures — a buyer's market at 29.0% sales-to-new-listings, but balanced conditions at 4.7 months of inventory. They measure different things, so the split is worth noting.
City of Toronto (416)
SNLR
29.7%
prior month 33.2%
Months of inventory
4.8
City of Toronto (416) reads differently on the two balance measures — a buyer's market at 29.7% sales-to-new-listings, but balanced conditions at 4.8 months of inventory. They measure different things, so the split is worth noting.
905 total
SNLR
28.6%
prior month 33.6%
Months of inventory
4.6
905 total reads differently on the two balance measures — a buyer's market at 28.6% sales-to-new-listings, but balanced conditions at 4.6 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
$879,076
- Sales
- 354
- SNLR
- 21.2%
- MOI
- 7.5
Aggregated across 2 districts · View →
Midtown
$1,694,436
- Sales
- 243
- SNLR
- 33.2%
- MOI
- 4.3
Aggregated across 6 districts · View →
Scarborough
$870,738
- Sales
- 312
- SNLR
- 30.7%
- MOI
- 4.1
Aggregated across 8 districts · View →
York Region
$1,220,124
- Sales
- 859
- SNLR
- 26.8%
- MOI
- 5.2
Region total · View →
Durham Region
$911,396
- Sales
- 671
- SNLR
- 34.6%
- MOI
- 3.0
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.