The headline numbers
Buyer's or seller's market?
Two ways to measure it · TRREB 12-month averages, all home typesFreehold vs condo
Two different markets. The overall average blends them.Most expensive markets
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Where buyers have the most room to negotiate
Tap a column heading to sort by it; tap again to flip the order. Tap a row to open that area. “For sale” is the number of active listings at the end of this month: the homes buyers can choose from. “Small sample” means under 30 sales this month, so a few deals can move the numbers. “% of asking” is the average sale price as a share of list price.
The headline numbers
Buyer's or seller's market?
Two ways to measure it · TRREB 12-month averages, all home typesFreehold vs condo
Two different markets. The overall average blends them.Compared with the whole GTA
Buyer's or seller's market, by home type
The headline numbers
Buyer's or seller's market?
Single family vs townhouse & condo
Most expensive markets
Buying or selling in Kitchener-Waterloo, Cambridge or Guelph?
Talk to our team about what this market means for your purchase, renewal or move.
Leading indicators
Six numbers that tend to move before home prices do, plus immigration below. Each card compares the latest figure with a year earlier, says what that means for housing, and shows the last 10 years.
Immigration: people added from abroad (Ontario)
Who owns
About this page
The Snapshot, Buyer's vs seller's and Regions tabs use TRREB's monthly Market Watch report for the month picked at the top. The 10-year view adds public data from Statistics Canada, CMHC and the Bank of Canada, listed under that chart.
Open the full TRREB report if you want every table.
What area this covers
The area lists cover the GTA: the City of Toronto plus Halton, Peel, York and Durham. The headline totals are TRREB's whole area, which also includes part of Simcoe County and Orangeville (about 4% of sales). Kitchener-Waterloo-Cambridge isn't covered by TRREB; it's reported by a different board.
What the terms mean
- SNLR
- Sales-to-new-listings ratio. Homes sold divided by new listings. TRREB reports it as a 12-month average. Under 40% is a buyer's market, 40–60% is balanced, over 60% is a seller's market.
- Sales-to-active ratio
- Homes sold divided by homes for sale. Where SNLR measures how fast new supply arrives, this measures how much is already sitting on the market. On this page it is worked out from TRREB's 12-month months of inventory (100 ÷ months). Lines set from the GTA's own history rather than a generic rule: under 25% (more than 4 months of inventory) is a buyer's market, 25–50% balanced, over 50% (under 2 months) a seller's market. In the last 10 Septembers, prices were flat or falling every year the ratio was under 25%, rose modestly between about 30% and 45%, and rose by double digits above 60%.
- Months of inventory
- Active listings divided by monthly sales (12-month average). How long it would take to sell everything listed if nothing new came on.
- % of asking
- Average sale price as a percentage of list price. Over 100% means homes are selling above asking.
- Days on market
- Average number of days a sold home was listed.
- Benchmark (MLS® HPI)
- TRREB's price for a typical home with the same features over time. A fairer like-for-like measure than the average price, which moves when the mix of homes sold changes.
- Freehold
- Detached, semi-detached, townhouse (non-condo) and link homes. You own the land.
- Condo
- Condo apartments, condo townhouses, co-op and co-ownership units, and detached condos. You pay a monthly condo fee.
- Small towns
- Towns under 40,000 people (2021 Census) are hidden in the rankings unless you tick “Include small towns”: East Gwillimbury, King, Uxbridge, Scugog and Brock.
- Toronto neighbourhoods
- TRREB splits Toronto into 35 districts (W01 to E11). This page names each by two of the neighbourhoods inside it, using TRREB's own community names; the TRREB code is shown in small type. Open a district on the Regions tab to see every neighbourhood it includes.
Please read
This page is for education. It is not financial, mortgage or real estate advice, and it is not a forecast. Nav is an FSRA-licensed mortgage agent, not a realtor. Small areas can swing a lot month to month, so look at several months before drawing a conclusion. TRREB revises past figures, so numbers can differ slightly from older reports.
Source: Toronto Regional Real Estate Board, Market Watch. Data © TRREB.
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