Source: TRREB MarketWatch, January 2018
MLS® Home Price Index
January 2018
What the benchmark is, and why it is the cleaner signal
The average price is the mean of everything that sold, so it moves when the mix of homes changes — a month with more detached sales lifts it even if no individual home got more expensive. The median is the middle sale, which resists outliers but still follows the mix.
The MLS® HPI benchmark instead prices a consistent, typical home for the area and adjusts for its attributes, so a change in the benchmark is closer to a change in price for the same house. That makes its year-over-year figure the most like-for-like price signal on this site — and it is why the benchmark and the average often disagree.
Benchmark against average price
All TRREB areas · 13 months to January 2018
| Month | MLS® HPI benchmark | Average price |
|---|---|---|
| Jan '17 | 705900 | 770745 |
| Feb '17 | 727300 | 875983 |
| Mar '17 | 772500 | 916567 |
| Apr '17 | 811300 | 920791 |
| May '17 | 821400 | 863910 |
| Jun '17 | 810700 | 793915 |
| Jul '17 | 773000 | 746218 |
| Aug '17 | 755400 | 732292 |
| Sep '17 | 750800 | 775546 |
| Oct '17 | 747800 | 780104 |
| Nov '17 | 744700 | 761757 |
| Dec '17 | 743500 | 735021 |
| Jan '18 | 743200 | 736783 |
Where these diverge, the gap is mix: the average is being pulled by what sold that month, while the benchmark holds the home constant.
Composite benchmark by region
13 months to January 2018
| Month | All TRREB | City of Toronto | York | Peel | Durham |
|---|---|---|---|---|---|
| Jan '17 | 705900 | 720200 | no data | no data | no data |
| Feb '17 | 727300 | 737400 | no data | no data | no data |
| Mar '17 | 772500 | 778700 | no data | no data | no data |
| Apr '17 | 811300 | 817000 | no data | no data | no data |
| May '17 | 821400 | 830300 | no data | no data | no data |
| Jun '17 | 810700 | 829500 | no data | no data | no data |
| Jul '17 | 773000 | 807800 | no data | no data | no data |
| Aug '17 | 755400 | 790000 | no data | no data | no data |
| Sep '17 | 750800 | 787700 | no data | no data | no data |
| Oct '17 | 747800 | 790300 | no data | no data | no data |
| Nov '17 | 744700 | 791300 | no data | no data | no data |
| Dec '17 | 743500 | 793900 | no data | no data | no data |
| Jan '18 | 743200 | 794200 | no data | no data | no data |
Movers on the index
Composite, year-over-year
Top 10
- Toronto E11 +16.2% up 16.2%
- Toronto C01 +16.2% up 16.2%
- Toronto W05 +15.6% up 15.6%
- Toronto C11 +15.1% up 15.1%
- Toronto C08 +14.9% up 14.9%
- Toronto W10 +13.5% up 13.5%
- Toronto W01 +12.9% up 12.9%
- Toronto E09 +12.2% up 12.2%
- Toronto E08 +11.2% up 11.2%
- Toronto W04 +11.2% up 11.2%
Bottom 10
- Toronto W07 +0.5% up 0.5%
- Toronto E03 +1.5% up 1.5%
- Toronto E06 +2.6% up 2.6%
- Toronto E05 +3.9% up 3.9%
- Toronto C12 +5.2% up 5.2%
- Toronto C13 +5.3% up 5.3%
- Toronto C02 +6.5% up 6.5%
- Toronto C07 +6.7% up 6.7%
- Toronto C06 +7.5% up 7.5%
- Toronto E10 +7.6% up 7.6%
Apartment, year-over-year
Top 10
- Toronto E11 +49.7% up 49.7%
- Toronto W05 +36.4% up 36.4%
- Toronto E04 +35.1% up 35.1%
- Toronto E08 +31.0% up 31.0%
- Toronto E01 +29.5% up 29.5%
- Toronto C15 +29.2% up 29.2%
- Toronto W10 +29.1% up 29.1%
- Toronto E09 +28.5% up 28.5%
- Toronto C06 +28.5% up 28.5%
- Toronto C12 +25.2% up 25.2%
Bottom 10
- Toronto E02 +8.5% up 8.5%
- Toronto C02 +11.7% up 11.7%
- Toronto C10 +12.9% up 12.9%
- Toronto E03 +13.1% up 13.1%
- Toronto E06 +14.5% up 14.5%
- Toronto W07 +14.8% up 14.8%
- Toronto C09 +15.0% up 15.0%
- Toronto C08 +17.5% up 17.5%
- Toronto C01 +18.1% up 18.1%
- Toronto C04 +19.0% up 19.0%
Every area
37 areas × five categories · sorted by composite benchmark
| Area | Composite | YoY | MoM | Single-family detached | YoY | MoM | Single-family attached | YoY | MoM | Townhouse | YoY | MoM | Apartment | YoY | MoM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Toronto C12 | $1,850,500 | +5.2% up 5.2% | +0.3% up 0.3% versus December 2017 | $2,145,700 | −2.9% down 2.9% | +0.7% up 0.7% versus December 2017 | $1,115,900 | −3.8% down 3.8% | +0.9% up 0.9% versus December 2017 | $873,000 | +11.7% up 11.7% | +2.2% up 2.2% versus December 2017 | $815,200 | +25.2% up 25.2% | −1.7% down 1.7% versus December 2017 |
| Toronto C04 | $1,517,500 | +7.9% up 7.9% | −0.0% down 0.0% versus December 2017 | $1,748,000 | +5.5% up 5.5% | −0.3% down 0.3% versus December 2017 | $1,201,300 | +10.1% up 10.1% | −0.2% down 0.2% versus December 2017 | $1,064,200 | +35.3% up 35.3% | +0.0% up 0.0% versus December 2017 | $527,800 | +19.0% up 19.0% | +0.8% up 0.8% versus December 2017 |
| Toronto C03 | $1,456,700 | +10.4% up 10.4% | −0.2% down 0.2% versus December 2017 | $1,592,300 | +6.4% up 6.4% | −0.9% down 0.9% versus December 2017 | $1,012,300 | +6.3% up 6.3% | −2.0% down 2.0% versus December 2017 | — | n/a not available, prior month not on file | n/a not available, prior month not on file versus December 2017 | $828,900 | +19.9% up 19.9% | +1.7% up 1.7% versus December 2017 |
| Toronto C02 | $1,178,600 | +6.5% up 6.5% | +0.9% up 0.9% versus December 2017 | $1,758,500 | +2.9% up 2.9% | +0.5% up 0.5% versus December 2017 | $1,299,600 | +0.1% up 0.1% | −1.3% down 1.3% versus December 2017 | $1,155,700 | +8.0% up 8.0% | +2.5% up 2.5% versus December 2017 | $700,800 | +11.7% up 11.7% | +1.9% up 1.9% versus December 2017 |
| Toronto C09 | $1,171,500 | +11.1% up 11.1% | +1.4% up 1.4% versus December 2017 | $1,636,800 | +3.2% up 3.2% | −0.8% down 0.8% versus December 2017 | $1,179,900 | +5.7% up 5.7% | −0.1% down 0.1% versus December 2017 | $1,448,100 | +18.4% up 18.4% | +0.9% up 0.9% versus December 2017 | $617,200 | +15.0% up 15.0% | +3.0% up 3.0% versus December 2017 |
| Toronto C06 | $1,044,000 | +7.5% up 7.5% | +1.2% up 1.2% versus December 2017 | $1,121,200 | −6.8% down 6.8% | −1.0% down 1.0% versus December 2017 | $772,800 | −1.0% down 1.0% | −4.0% down 4.0% versus December 2017 | $626,500 | +14.1% up 14.1% | +2.0% up 2.0% versus December 2017 | $613,000 | +28.5% up 28.5% | +3.6% up 3.6% versus December 2017 |
| Toronto E02 | $1,012,300 | +9.0% up 9.0% | +1.4% up 1.4% versus December 2017 | $1,068,400 | +8.5% up 8.5% | +1.4% up 1.4% versus December 2017 | $946,000 | +8.5% up 8.5% | +1.5% up 1.5% versus December 2017 | $915,100 | +16.2% up 16.2% | +3.5% up 3.5% versus December 2017 | $686,500 | +8.5% up 8.5% | +0.8% up 0.8% versus December 2017 |
| Toronto C10 | $976,800 | +9.7% up 9.7% | −1.5% down 1.5% versus December 2017 | $1,565,100 | +3.6% up 3.6% | +0.2% up 0.2% versus December 2017 | $1,210,800 | +3.5% up 3.5% | +0.3% up 0.3% versus December 2017 | $731,200 | +15.4% up 15.4% | +2.9% up 2.9% versus December 2017 | $598,700 | +12.9% up 12.9% | −2.6% down 2.6% versus December 2017 |
| Toronto E01 | $949,100 | +8.5% up 8.5% | +0.7% up 0.7% versus December 2017 | $1,049,800 | +4.8% up 4.8% | no change no change versus December 2017 | $960,500 | +3.8% up 3.8% | −0.5% down 0.5% versus December 2017 | $662,500 | +17.2% up 17.2% | +2.6% up 2.6% versus December 2017 | $682,700 | +29.5% up 29.5% | +3.8% up 3.8% versus December 2017 |
| Toronto W07 | $934,500 | +0.5% up 0.5% | −0.2% down 0.2% versus December 2017 | $1,004,700 | −1.0% down 1.0% | −0.0% down 0.0% versus December 2017 | $834,800 | −2.8% down 2.8% | −1.9% down 1.9% versus December 2017 | $0 | −100.0% down 100.0% | n/a not available, prior month not on file versus December 2017 | $564,500 | +14.8% up 14.8% | +0.9% up 0.9% versus December 2017 |
| Toronto W02 | $927,200 | +9.9% up 9.9% | +1.4% up 1.4% versus December 2017 | $1,052,900 | +3.9% up 3.9% | +0.6% up 0.6% versus December 2017 | $910,600 | +8.8% up 8.8% | +2.1% up 2.1% versus December 2017 | $591,500 | +12.3% up 12.3% | +3.6% up 3.6% versus December 2017 | $522,100 | +24.2% up 24.2% | +1.1% up 1.1% versus December 2017 |
| Toronto W01 | $905,600 | +12.9% up 12.9% | −0.4% down 0.4% versus December 2017 | $1,169,400 | +6.2% up 6.2% | +1.5% up 1.5% versus December 2017 | $933,900 | +4.7% up 4.7% | +1.6% up 1.6% versus December 2017 | $503,500 | +14.5% up 14.5% | −1.0% down 1.0% versus December 2017 | $496,000 | +19.8% up 19.8% | −1.5% down 1.5% versus December 2017 |
| Toronto C13 | $866,100 | +5.3% up 5.3% | +0.5% up 0.5% versus December 2017 | $1,353,000 | −7.5% down 7.5% | +0.8% up 0.8% versus December 2017 | $720,500 | −8.5% down 8.5% | +0.3% up 0.3% versus December 2017 | $714,600 | +16.6% up 16.6% | +2.3% up 2.3% versus December 2017 | $454,900 | +25.0% up 25.0% | +0.4% up 0.4% versus December 2017 |
| Toronto C11 | $858,500 | +15.1% up 15.1% | +0.7% up 0.7% versus December 2017 | $1,349,400 | +3.6% up 3.6% | −0.2% down 0.2% versus December 2017 | $974,100 | +2.9% up 2.9% | −1.2% down 1.2% versus December 2017 | $380,900 | +10.1% up 10.1% | +3.4% up 3.4% versus December 2017 | $404,500 | +22.1% up 22.1% | +1.0% up 1.0% versus December 2017 |
| Toronto C07 | $856,600 | +6.7% up 6.7% | +0.3% up 0.3% versus December 2017 | $1,329,800 | −6.3% down 6.3% | −1.3% down 1.3% versus December 2017 | $744,600 | −7.8% down 7.8% | −1.8% down 1.8% versus December 2017 | $652,800 | +13.5% up 13.5% | +2.4% up 2.4% versus December 2017 | $548,500 | +23.8% up 23.8% | +1.5% up 1.5% versus December 2017 |
| Toronto C14 | $819,400 | +9.5% up 9.5% | −1.3% down 1.3% versus December 2017 | $1,557,500 | −9.1% down 9.1% | −2.8% down 2.8% versus December 2017 | $1,098,500 | −11.8% down 11.8% | −0.9% down 0.9% versus December 2017 | $814,400 | +17.9% up 17.9% | +1.0% up 1.0% versus December 2017 | $590,800 | +20.0% up 20.0% | −1.0% down 1.0% versus December 2017 |
| Toronto W08 | $806,100 | +10.1% up 10.1% | −0.3% down 0.3% versus December 2017 | $1,056,900 | −0.1% down 0.1% | −1.1% down 1.1% versus December 2017 | $738,700 | −1.3% down 1.3% | −1.9% down 1.9% versus December 2017 | $508,900 | +12.1% up 12.1% | +1.2% up 1.2% versus December 2017 | $420,200 | +20.9% up 20.9% | +0.3% up 0.3% versus December 2017 |
| Toronto C15 | $795,400 | +8.3% up 8.3% | −0.7% down 0.7% versus December 2017 | $1,414,200 | −6.0% down 6.0% | −3.2% down 3.2% versus December 2017 | $809,500 | −9.2% down 9.2% | −3.1% down 3.1% versus December 2017 | $653,900 | +14.2% up 14.2% | −2.5% down 2.5% versus December 2017 | $497,400 | +29.2% up 29.2% | +1.7% up 1.7% versus December 2017 |
| City of Toronto | $794,200 | +10.3% up 10.3% | +0.0% up 0.0% versus December 2017 | $1,080,800 | +0.4% up 0.4% | −0.4% down 0.4% versus December 2017 | $842,100 | +2.7% up 2.7% | −0.7% down 0.7% versus December 2017 | $604,600 | +12.7% up 12.7% | +0.5% up 0.5% versus December 2017 | $492,800 | +21.5% up 21.5% | +0.5% up 0.5% versus December 2017 |
| Toronto E03 | $750,600 | +1.5% up 1.5% | −0.5% down 0.5% versus December 2017 | $856,700 | −0.3% down 0.3% | +0.1% up 0.1% versus December 2017 | $753,800 | +1.8% up 1.8% | −2.7% down 2.7% versus December 2017 | — | n/a not available, prior month not on file | n/a not available, prior month not on file versus December 2017 | $317,700 | +13.1% up 13.1% | +0.2% up 0.2% versus December 2017 |
| All TRREB Areas | $743,200 | +5.2% up 5.2% | −0.0% down 0.0% versus December 2017 | $907,100 | +0.3% up 0.3% | −0.2% down 0.2% versus December 2017 | $697,300 | +0.5% up 0.5% | −0.4% down 0.4% versus December 2017 | $552,200 | +10.1% up 10.1% | +0.7% up 0.7% versus December 2017 | $469,800 | +19.9% up 19.9% | +0.3% up 0.3% versus December 2017 |
| Toronto E10 | $709,100 | +7.6% up 7.6% | +0.2% up 0.2% versus December 2017 | $785,700 | +5.5% up 5.5% | +1.1% up 1.1% versus December 2017 | $612,700 | +4.9% up 4.9% | +0.8% up 0.8% versus December 2017 | $514,500 | +14.0% up 14.0% | −3.8% down 3.8% versus December 2017 | $374,100 | +23.2% up 23.2% | −1.5% down 1.5% versus December 2017 |
| Toronto E06 | $699,400 | +2.6% up 2.6% | −0.1% down 0.1% versus December 2017 | $721,400 | +1.5% up 1.5% | −0.1% down 0.1% versus December 2017 | $603,200 | +1.0% up 1.0% | +0.4% up 0.4% versus December 2017 | $580,200 | +5.0% up 5.0% | +3.0% up 3.0% versus December 2017 | $496,500 | +14.5% up 14.5% | −0.2% down 0.2% versus December 2017 |
| Toronto W03 | $680,600 | +8.1% up 8.1% | −1.1% down 1.1% versus December 2017 | $728,000 | +6.7% up 6.7% | −1.0% down 1.0% versus December 2017 | $662,600 | +4.7% up 4.7% | −2.1% down 2.1% versus December 2017 | $511,200 | +19.6% up 19.6% | +5.9% up 5.9% versus December 2017 | $417,000 | +22.4% up 22.4% | +0.4% up 0.4% versus December 2017 |
| Toronto C01 | $657,000 | +16.2% up 16.2% | −0.3% down 0.3% versus December 2017 | $1,036,200 | +6.9% up 6.9% | −3.0% down 3.0% versus December 2017 | $923,800 | +4.3% up 4.3% | −3.5% down 3.5% versus December 2017 | $740,100 | +11.3% up 11.3% | +1.6% up 1.6% versus December 2017 | $550,900 | +18.1% up 18.1% | −0.1% down 0.1% versus December 2017 |
| Toronto C08 | $646,900 | +14.9% up 14.9% | +1.2% up 1.2% versus December 2017 | $1,439,900 | −1.8% down 1.8% | −1.3% down 1.3% versus December 2017 | $1,164,900 | −3.9% down 3.9% | −1.4% down 1.4% versus December 2017 | $672,000 | +7.7% up 7.7% | +4.1% up 4.1% versus December 2017 | $533,900 | +17.5% up 17.5% | +1.3% up 1.3% versus December 2017 |
| Toronto E05 | $629,200 | +3.9% up 3.9% | −0.6% down 0.6% versus December 2017 | $879,700 | −6.5% down 6.5% | −0.5% down 0.5% versus December 2017 | $660,800 | −7.8% down 7.8% | −0.9% down 0.9% versus December 2017 | $537,800 | +5.1% up 5.1% | −1.4% down 1.4% versus December 2017 | $442,100 | +24.7% up 24.7% | no change no change versus December 2017 |
| Toronto E04 | $617,700 | +9.6% up 9.6% | +0.6% up 0.6% versus December 2017 | $714,100 | −0.8% down 0.8% | +0.1% up 0.1% versus December 2017 | $606,500 | +4.3% up 4.3% | −0.4% down 0.4% versus December 2017 | $505,700 | +11.4% up 11.4% | +2.2% up 2.2% versus December 2017 | $417,600 | +35.1% up 35.1% | +1.3% up 1.3% versus December 2017 |
| Toronto E07 | $615,800 | +7.9% up 7.9% | −1.2% down 1.2% versus December 2017 | $864,300 | −2.1% down 2.1% | −1.0% down 1.0% versus December 2017 | $663,400 | −1.3% down 1.3% | −0.5% down 0.5% versus December 2017 | $547,700 | +5.6% up 5.6% | −1.2% down 1.2% versus December 2017 | $413,800 | +22.5% up 22.5% | −1.2% down 1.2% versus December 2017 |
| Toronto W04 | $612,300 | +11.2% up 11.2% | +0.2% up 0.2% versus December 2017 | $762,800 | +6.1% up 6.1% | −0.2% down 0.2% versus December 2017 | $659,900 | +5.0% up 5.0% | +0.5% up 0.5% versus December 2017 | $513,500 | +17.1% up 17.1% | −1.3% down 1.3% versus December 2017 | $347,800 | +23.4% up 23.4% | +0.9% up 0.9% versus December 2017 |
| Toronto E08 | $601,600 | +11.2% up 11.2% | −0.2% down 0.2% versus December 2017 | $759,600 | +1.6% up 1.6% | −0.3% down 0.3% versus December 2017 | $565,900 | +1.9% up 1.9% | −0.3% down 0.3% versus December 2017 | $499,700 | +17.1% up 17.1% | +1.4% up 1.4% versus December 2017 | $417,800 | +31.0% up 31.0% | −0.5% down 0.5% versus December 2017 |
| Toronto W06 | $575,800 | +7.8% up 7.8% | +0.6% up 0.6% versus December 2017 | $821,500 | +0.3% up 0.3% | +0.3% up 0.3% versus December 2017 | $631,500 | −0.4% down 0.4% | −1.8% down 1.8% versus December 2017 | $772,100 | +12.0% up 12.0% | −0.1% down 0.1% versus December 2017 | $418,100 | +22.0% up 22.0% | +1.1% up 1.1% versus December 2017 |
| Toronto E09 | $572,400 | +12.2% up 12.2% | no change no change versus December 2017 | $680,900 | −0.6% down 0.6% | −0.7% down 0.7% versus December 2017 | $562,300 | +0.5% up 0.5% | −0.7% down 0.7% versus December 2017 | $496,000 | +15.0% up 15.0% | −1.9% down 1.9% versus December 2017 | $442,700 | +28.5% up 28.5% | +1.0% up 1.0% versus December 2017 |
| Toronto W09 | $555,100 | +9.2% up 9.2% | −0.9% down 0.9% versus December 2017 | $807,400 | +1.3% up 1.3% | −1.3% down 1.3% versus December 2017 | $560,400 | +3.7% up 3.7% | −3.5% down 3.5% versus December 2017 | $651,000 | +18.9% up 18.9% | −0.5% down 0.5% versus December 2017 | $281,500 | +21.3% up 21.3% | −0.2% down 0.2% versus December 2017 |
| Toronto E11 | $552,500 | +16.2% up 16.2% | −0.2% down 0.2% versus December 2017 | $719,000 | +6.9% up 6.9% | −0.2% down 0.2% versus December 2017 | $566,000 | +5.9% up 5.9% | −0.6% down 0.6% versus December 2017 | $392,700 | +7.5% up 7.5% | +2.4% up 2.4% versus December 2017 | $426,800 | +49.7% up 49.7% | −1.4% down 1.4% versus December 2017 |
| Toronto W05 | $539,700 | +15.6% up 15.6% | +1.1% up 1.1% versus December 2017 | $780,100 | +6.1% up 6.1% | −0.5% down 0.5% versus December 2017 | $628,900 | +5.5% up 5.5% | −0.5% down 0.5% versus December 2017 | $404,800 | +22.0% up 22.0% | +0.9% up 0.9% versus December 2017 | $311,000 | +36.4% up 36.4% | +4.4% up 4.4% versus December 2017 |
| Toronto W10 | $530,000 | +13.5% up 13.5% | +1.3% up 1.3% versus December 2017 | $701,700 | +4.8% up 4.8% | +1.7% up 1.7% versus December 2017 | $611,100 | +6.8% up 6.8% | +1.3% up 1.3% versus December 2017 | $444,900 | +12.8% up 12.8% | +1.9% up 1.9% versus December 2017 | $320,400 | +29.1% up 29.1% | +0.6% up 0.6% versus December 2017 |
Year-over-year is TRREB's own published figure. Month-over-month is computed here from the prior month's benchmark, because TRREB does not print it.