Toronto Regional Real Estate Board Market Watch NOTES: 1 - Sales and average sale prices are based on firm transactions entered into the TRREB MLS® system between the first and last day of the month/period being reported. 2 - New listings entered into the TRREB MLS® system between the first and last day of the month/period being reported. 3 - Active listings at the end of the last day of the month/period being reported. 4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TRREB MLS® system between the first and last day of the month/period being reported. 5 - Average Days on Market refers to the average number of days a property was on the market before selling irrespective of whether the property was listed more than once by the same combination of seller and brokerage during the original listing contract period. 6 - Active listings at the end of the last day of the month/period being reported. 7 - Past monthly and year-to-date figures are revised on a monthly basis. 8 - Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings). 9 - Months of Inventory. Calculated using a 12-month moving average (active listings/sales).