Market report · December 2024
Toronto housing market: December 2024
The average sale price in the Greater Toronto Area in December 2024 was $1,067,186, down 1.6% year over year. 3,359 homes sold against 4,681 new listings — 3.4 months of supply, a balanced market.
What happened in December 2024
Toronto recorded 3,359 sales in December 2024, 2.5% fewer than the same month a year earlier. Sellers brought 4,681 new listings to market, leaving 15,393 properties in inventory — 48.4% more than a year ago. At the month's pace of sales that is 3.4 months of supply, which puts Toronto in a balanced market. 41% of the month's new listings sold.
The average sale price across all property types was $1,067,186, down 1.6% year over year and down 3.5% on the month. By property type, semi-detached homes were the strongest year over year at +5.9%, and detached the weakest at -1.3%.
This is the average sale price across the whole TRREB footprint, which runs from downtown Toronto condos to Halton and Durham freeholds. It moves with the mix of what sold as much as with prices themselves, so read it next to the by-property-type figures and the median rather than on its own.
The two years to December 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory | Months of supply |
|---|---|---|---|---|---|---|
| Detached | $1,399,209 | -1.3% | 1,423 | 1,813 | 6,088 | 4.3 |
| Semi-detached | $1,088,543 | +5.9% | 292 | 304 | 741 | 2.5 |
| Row / townhouse | $1,015,505 | +1.9% | 377 | 464 | 1,024 | 2.7 |
| Apartment | $681,855 | -0.1% | 960 | 1,679 | 6,237 | 6.5 |
| All types | $1,067,186 | -1.6% | 3,359 | 4,681 | 15,393 | 3.4 |
Source: the Toronto Regional Real Estate Board, Toronto, December 2024.
What this means for your mortgage
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