How much have GTA home prices really changed over the last decade? This page pulls together the market reports Local Toronto has published since 2014 and adds the latest full-year numbers from the Toronto Regional Real Estate Board (TRREB). It is the one place on this site to see the long view, and we will add to it as each new year closes.
GTA average home price by year
These are TRREB figures for all home types combined across the TRREB market area. Average price moves with the mix of homes sold, so a year with more detached sales can look stronger than it really was. Treat it as a trend line, not a valuation for any single home.
| Year | Average selling price | Home sales | What stood out |
|---|---|---|---|
| 2013 | $523,036 | n/a | Up from $497,130 in 2012. Steady gains across the 905 region. |
| 2016 | n/a | 113,040 | A sales record at the time. Very low listings pushed prices up fast. |
| 2017 | $822,681 | n/a | Up 12.7 per cent. Prices peaked in March, then the Fair Housing Plan cooled the market. |
| 2019 | n/a | 87,825 | Sales recovered 12.6 per cent from the 2018 low. |
| 2020 | $929,636 | n/a | A record at the time despite the spring lockdown. |
| 2021 | $1,095,475 | 121,712 | All-time sales record. Prices up 17.8 per cent. |
| 2022 | about $1,190,000 | about 75,100 | The peak year for price, but sales fell hard as rates rose. |
| 2023 | $1,126,604 | 65,982 | Price down 5.4 per cent, sales down 12.1 per cent. |
| 2024 | $1,120,241 | about 70,300 | Prices flat, more listings coming to market. |
| 2025 | $1,067,968 | 62,433 | Price down 4.7 per cent, sales down 11.2 per cent, new listings up 10.1 per cent. |
The 2022 and 2024 values marked “about” are worked back from TRREB’s published year-over-year changes for the following year. Years with n/a were not reported in full in our original posts.
2014 to 2016: the long run-up
In August 2014 the GTA average selling price was $538,530, up 9.4 per cent from a year earlier, with detached homes leading at 12.3 per cent growth. TRREB’s own forecast that fall expected the year to finish around $565,000. The pattern that defined the next three years was already clear: plenty of condo supply, not nearly enough detached, semi-detached and townhouse listings, and buyers competing hard for ground-level homes.
By January 2016 the MLS Home Price Index was up 10.7 per cent year over year, and new federal rules required a 10 per cent down payment on the portion of a purchase above $500,000. Sales still hit a record 113,040 that year.
2017: the peak and the Fair Housing Plan
January 2017 opened with an average price of $770,745, up 22.5 per cent in a year, and only 2.4 months of inventory. Annual price growth passed 30 per cent in March. In April the province introduced the Ontario Fair Housing Plan, including a 15 per cent tax on foreign buyers. Sales dropped sharply through the spring and summer and the market shifted from sellers to buyers. Even so, the full-year average finished at $822,681.
Peel region felt the change quickly. In October 2017 Brampton sold 650 homes at an average of $669,389, with detached homes averaging $775,170, while 1,429 new listings came on. Caledon sold 77 homes that month at an average of $888,038, with homes selling at about 96 per cent of list price.
2018 and 2019: the stress test years
The federal mortgage stress test took effect on January 1, 2018. GTA sales in May 2018 were down 22.2 per cent from a year earlier, although new listings fell even more, which kept prices from sliding far. Year to date to May 2018, Brampton averaged $693,784 and Mississauga $700,998. Sales recovered in 2019 to 87,825 as mortgage rates eased.
2020 to 2022: the pandemic surge
The spring 2020 lockdown froze the market for about two months, then low rates and demand for more space brought buyers back quickly. The 2020 average reached a record $929,636. In 2021 sales hit an all-time high of 121,712 and the average climbed to $1,095,475. Detached prices rose 28.8 per cent that year, and Peel region grew 33.4 per cent. Prices peaked in early 2022 before the Bank of Canada began raising rates.
2023 to 2025: higher rates and a buyer’s market
Higher borrowing costs cut sales and gave buyers more choice. The average price slipped to $1,126,604 in 2023 and held near $1,120,241 in 2024. In 2025 it fell to $1,067,968 while new listings rose more than 10 per cent. TRREB described the end of 2025 as a more affordable market that sets up a recovery year.
The GTA condo market over time
- Q3 2014: average condo apartment price $359,352, with the City of Toronto at $382,210.
- Q4 2014: $367,199, and sales were up 8.3 per cent.
- Q2 2016: $415,326, up 7.1 per cent.
- Q3 2017: $510,206, up 22.7 per cent even as sales fell.
- Q4 2017: $515,816. One-bedroom rents averaged $1,970, up 10.9 per cent.
Rents tell the same story. A one-bedroom condo in the TRREB area averaged about $1,535 a month in early 2015 and $1,970 by the end of 2017.
What the history means if you are buying or selling now
The 2017 and 2018 slowdowns on this page were followed by recoveries, but on very different timelines. Policy moves (the 2017 foreign buyer tax, the 2018 stress test, the 2022 rate hikes) slowed the market faster than any change in demand. For buyers, today’s higher listing counts mean more room to negotiate than at any point since 2019. For sellers, pricing to the current market matters more than what a neighbour got in 2022.
For current numbers in your area, see our city pages for Brampton, Mississauga and Toronto, or request a free home evaluation.
Sources
- TRREB market reports quoted in Local Toronto posts from 2014 to 2022.
- TRREB: 2025 Ends with More Affordable Market
- TRREB December 2023 and year-end statistics (summary)
- TREB December 2019 report (summary)
Figures are for information only and are not an appraisal. Past price changes do not predict future results.