Source: TRREB MarketWatch, March 2018
MLS® Home Price Index
March 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 March 2018
| Month | MLS® HPI benchmark | Average price |
|---|---|---|
| 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 |
| Feb '18 | 751700 | 767818 |
| Mar '18 | 760800 | 784558 |
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 March 2018
| Month | All TRREB | City of Toronto | York | Peel | Durham |
|---|---|---|---|---|---|
| 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 |
| Feb '18 | 751700 | 807500 | no data | no data | no data |
| Mar '18 | 760800 | 817800 | no data | no data | no data |
Movers on the index
Composite, year-over-year
Top 10
- Toronto E11 +12.9% up 12.9%
- Toronto W05 +12.9% up 12.9%
- Toronto C08 +11.4% up 11.4%
- Toronto C01 +11.1% up 11.1%
- Toronto W10 +10.1% up 10.1%
- Toronto C11 +9.6% up 9.6%
- Toronto W04 +8.3% up 8.3%
- Toronto C09 +7.7% up 7.7%
- Toronto C10 +7.5% up 7.5%
- Toronto W01 +7.1% up 7.1%
Bottom 10
- Toronto W07 −8.2% down 8.2%
- Toronto E06 −5.8% down 5.8%
- Toronto E10 −2.9% down 2.9%
- Toronto C12 −2.4% down 2.4%
- Toronto E05 −2.0% down 2.0%
- Toronto C13 −1.9% down 1.9%
- Toronto E03 −1.8% down 1.8%
- Toronto E04 −1.1% down 1.1%
- Toronto C04 −0.4% down 0.4%
- Toronto C15 +1.5% up 1.5%
Apartment, year-over-year
Top 10
- Toronto E11 +38.9% up 38.9%
- Toronto W05 +31.6% up 31.6%
- Toronto E04 +27.2% up 27.2%
- Toronto E05 +27.1% up 27.1%
- Toronto E10 +26.0% up 26.0%
- Toronto E08 +25.7% up 25.7%
- Toronto E09 +24.0% up 24.0%
- Toronto C15 +23.5% up 23.5%
- Toronto W04 +22.5% up 22.5%
- Toronto E07 +21.7% up 21.7%
Bottom 10
- Toronto E02 −2.5% down 2.5%
- Toronto E06 +1.3% up 1.3%
- Toronto E03 +5.1% up 5.1%
- Toronto W01 +8.4% up 8.4%
- Toronto C02 +9.0% up 9.0%
- Toronto W07 +9.6% up 9.6%
- Toronto C01 +12.2% up 12.2%
- Toronto C08 +13.0% up 13.0%
- Toronto C14 +13.0% up 13.0%
- Toronto W08 +13.3% up 13.3%
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 | $1,869,300 | −2.4% down 2.4% | no change no change versus February 2018 | $2,147,800 | −10.3% down 10.3% | −0.4% down 0.4% versus February 2018 | $1,065,300 | −13.9% down 13.9% | −2.1% down 2.1% versus February 2018 | $871,400 | +0.4% up 0.4% | +0.8% up 0.8% versus February 2018 | $848,400 | +20.4% up 20.4% | +0.9% up 0.9% versus February 2018 |
| Toronto C03 | $1,520,400 | +6.3% up 6.3% | +1.8% up 1.8% versus February 2018 | $1,658,100 | +2.0% up 2.0% | +1.7% up 1.7% versus February 2018 | $1,070,900 | +2.5% up 2.5% | +2.8% up 2.8% versus February 2018 | — | n/a not available, prior month not on file | n/a not available, prior month not on file versus February 2018 | $864,100 | +17.5% up 17.5% | +1.6% up 1.6% versus February 2018 |
| Toronto C04 | $1,513,200 | −0.4% down 0.4% | −0.7% down 0.7% versus February 2018 | $1,736,700 | −3.9% down 3.9% | −1.6% down 1.6% versus February 2018 | $1,141,800 | −6.2% down 6.2% | −3.3% down 3.3% versus February 2018 | $1,090,300 | +7.7% up 7.7% | −3.1% down 3.1% versus February 2018 | $540,700 | +19.2% up 19.2% | +2.9% up 2.9% versus February 2018 |
| Toronto C09 | $1,252,900 | +7.7% up 7.7% | +2.2% up 2.2% versus February 2018 | $1,757,400 | −4.7% down 4.7% | +1.1% up 1.1% versus February 2018 | $1,274,300 | −0.5% down 0.5% | +3.3% up 3.3% versus February 2018 | $1,508,900 | +7.2% up 7.2% | −0.5% down 0.5% versus February 2018 | $657,300 | +14.6% up 14.6% | +3.0% up 3.0% versus February 2018 |
| Toronto C02 | $1,196,300 | +3.7% up 3.7% | +1.5% up 1.5% versus February 2018 | $1,796,100 | −0.5% down 0.5% | +1.2% up 1.2% versus February 2018 | $1,353,100 | −1.1% down 1.1% | +2.6% up 2.6% versus February 2018 | $1,195,400 | +2.8% up 2.8% | +2.8% up 2.8% versus February 2018 | $703,100 | +9.0% up 9.0% | +1.2% up 1.2% versus February 2018 |
| Toronto C06 | $1,056,900 | +1.8% up 1.8% | +0.2% up 0.2% versus February 2018 | $1,117,300 | −10.6% down 10.6% | −1.3% down 1.3% versus February 2018 | $826,100 | +1.5% up 1.5% | −1.4% down 1.4% versus February 2018 | $639,400 | +10.7% up 10.7% | +3.0% up 3.0% versus February 2018 | $629,200 | +18.3% up 18.3% | +1.5% up 1.5% versus February 2018 |
| Toronto E02 | $1,037,900 | +4.2% up 4.2% | +1.8% up 1.8% versus February 2018 | $1,110,800 | +5.5% up 5.5% | +3.2% up 3.2% versus February 2018 | $975,800 | +4.5% up 4.5% | +2.2% up 2.2% versus February 2018 | $889,000 | +1.8% up 1.8% | −1.9% down 1.9% versus February 2018 | $683,800 | −2.5% down 2.5% | −1.1% down 1.1% versus February 2018 |
| Toronto C10 | $1,015,800 | +7.5% up 7.5% | +1.9% up 1.9% versus February 2018 | $1,517,600 | −5.0% down 5.0% | −1.5% down 1.5% versus February 2018 | $1,165,400 | −5.0% down 5.0% | −1.2% down 1.2% versus February 2018 | $749,600 | +4.7% up 4.7% | +0.3% up 0.3% versus February 2018 | $644,800 | +14.7% up 14.7% | +3.6% up 3.6% versus February 2018 |
| Toronto E01 | $975,600 | +3.4% up 3.4% | +1.0% up 1.0% versus February 2018 | $1,084,000 | +0.3% up 0.3% | +0.7% up 0.7% versus February 2018 | $993,700 | +0.2% up 0.2% | +0.9% up 0.9% versus February 2018 | $659,800 | +0.6% up 0.6% | −0.6% down 0.6% versus February 2018 | $694,800 | +20.8% up 20.8% | +2.3% up 2.3% versus February 2018 |
| Toronto W07 | $970,500 | −8.2% down 8.2% | +2.7% up 2.7% versus February 2018 | $1,041,100 | −9.6% down 9.6% | +2.6% up 2.6% versus February 2018 | $879,100 | −5.6% down 5.6% | +4.9% up 4.9% versus February 2018 | $0 | −100.0% down 100.0% | n/a not available, prior month not on file versus February 2018 | $587,600 | +9.6% up 9.6% | −0.1% down 0.1% versus February 2018 |
| Toronto W02 | $932,900 | +2.9% up 2.9% | −0.4% down 0.4% versus February 2018 | $1,063,500 | −1.4% down 1.4% | −1.6% down 1.6% versus February 2018 | $880,600 | −1.5% down 1.5% | −2.1% down 2.1% versus February 2018 | $601,400 | +7.4% up 7.4% | +2.2% up 2.2% versus February 2018 | $552,300 | +16.9% up 16.9% | +2.7% up 2.7% versus February 2018 |
| Toronto W01 | $932,200 | +7.1% up 7.1% | +2.8% up 2.8% versus February 2018 | $1,201,200 | +5.3% up 5.3% | +5.2% up 5.2% versus February 2018 | $958,600 | +3.5% up 3.5% | +4.9% up 4.9% versus February 2018 | $507,800 | +12.1% up 12.1% | +2.8% up 2.8% versus February 2018 | $512,800 | +8.4% up 8.4% | +1.4% up 1.4% versus February 2018 |
| Toronto C11 | $896,700 | +9.6% up 9.6% | +2.3% up 2.3% versus February 2018 | $1,451,600 | −2.2% down 2.2% | +4.0% up 4.0% versus February 2018 | $1,052,500 | −2.7% down 2.7% | +1.6% up 1.6% versus February 2018 | $380,900 | +0.5% up 0.5% | −2.4% down 2.4% versus February 2018 | $417,700 | +18.1% up 18.1% | +2.0% up 2.0% versus February 2018 |
| Toronto C07 | $885,300 | +2.6% up 2.6% | +1.4% up 1.4% versus February 2018 | $1,339,000 | −10.6% down 10.6% | −1.2% down 1.2% versus February 2018 | $759,300 | −11.0% down 11.0% | −0.8% down 0.8% versus February 2018 | $662,900 | +10.2% up 10.2% | +2.4% up 2.4% versus February 2018 | $580,200 | +18.3% up 18.3% | +3.4% up 3.4% versus February 2018 |
| Toronto C13 | $867,200 | −1.9% down 1.9% | −1.2% down 1.2% versus February 2018 | $1,349,800 | −14.2% down 14.2% | −1.4% down 1.4% versus February 2018 | $722,400 | −15.1% down 15.1% | −1.6% down 1.6% versus February 2018 | $716,100 | +3.5% up 3.5% | +1.2% up 1.2% versus February 2018 | $456,500 | +18.8% up 18.8% | −0.8% down 0.8% versus February 2018 |
| Toronto C14 | $859,000 | +3.3% up 3.3% | +1.2% up 1.2% versus February 2018 | $1,558,600 | −16.1% down 16.1% | −1.6% down 1.6% versus February 2018 | $1,113,100 | −17.7% down 17.7% | −1.8% down 1.8% versus February 2018 | $824,300 | +13.9% up 13.9% | −0.3% down 0.3% versus February 2018 | $633,600 | +13.0% up 13.0% | +2.6% up 2.6% versus February 2018 |
| Toronto W08 | $839,200 | +3.8% up 3.8% | +2.6% up 2.6% versus February 2018 | $1,100,300 | −6.0% down 6.0% | +2.8% up 2.8% versus February 2018 | $776,900 | −5.0% down 5.0% | +4.3% up 4.3% versus February 2018 | $525,000 | +11.9% up 11.9% | +2.8% up 2.8% versus February 2018 | $437,500 | +13.3% up 13.3% | +2.3% up 2.3% versus February 2018 |
| City of Toronto | $817,800 | +4.8% up 4.8% | +1.3% up 1.3% versus February 2018 | $1,100,500 | −6.2% down 6.2% | +1.0% up 1.0% versus February 2018 | $863,700 | −1.6% down 1.6% | +1.1% up 1.1% versus February 2018 | $607,100 | +6.7% up 6.7% | no change no change versus February 2018 | $513,700 | +15.9% up 15.9% | +1.8% up 1.8% versus February 2018 |
| Toronto E03 | $803,200 | −1.8% down 1.8% | +3.4% up 3.4% versus February 2018 | $914,700 | −2.4% down 2.4% | +4.0% up 4.0% versus February 2018 | $826,500 | −2.4% down 2.4% | +3.2% up 3.2% versus February 2018 | — | n/a not available, prior month not on file | n/a not available, prior month not on file versus February 2018 | $328,200 | +5.1% up 5.1% | +0.9% up 0.9% versus February 2018 |
| Toronto C15 | $797,100 | +1.5% up 1.5% | +0.4% up 0.4% versus February 2018 | $1,403,900 | −13.9% down 13.9% | −1.1% down 1.1% versus February 2018 | $803,000 | −15.8% down 15.8% | −1.1% down 1.1% versus February 2018 | $643,600 | +3.9% up 3.9% | −0.8% down 0.8% versus February 2018 | $508,300 | +23.5% up 23.5% | +2.0% up 2.0% versus February 2018 |
| All TRREB Areas | $760,800 | −1.5% down 1.5% | +1.2% up 1.2% versus February 2018 | $924,900 | −6.7% down 6.7% | +1.0% up 1.0% versus February 2018 | $711,900 | −5.5% down 5.5% | +1.0% up 1.0% versus February 2018 | $557,500 | +2.3% up 2.3% | +0.9% up 0.9% versus February 2018 | $488,000 | +14.1% up 14.1% | +1.8% up 1.8% versus February 2018 |
| Toronto W03 | $714,700 | +4.8% up 4.8% | +3.6% up 3.6% versus February 2018 | $761,200 | +3.5% up 3.5% | +3.3% up 3.3% versus February 2018 | $706,400 | +3.6% up 3.6% | +4.7% up 4.7% versus February 2018 | $516,900 | +8.4% up 8.4% | +2.6% up 2.6% versus February 2018 | $434,400 | +13.3% up 13.3% | +2.1% up 2.1% versus February 2018 |
| Toronto E06 | $704,200 | −5.8% down 5.8% | +2.2% up 2.2% versus February 2018 | $727,200 | −6.6% down 6.6% | +2.8% up 2.8% versus February 2018 | $610,400 | −5.0% down 5.0% | +4.1% up 4.1% versus February 2018 | $569,000 | +7.3% up 7.3% | −3.7% down 3.7% versus February 2018 | $497,200 | +1.3% up 1.3% | −1.8% down 1.8% versus February 2018 |
| Toronto E10 | $694,000 | −2.9% down 2.9% | −0.5% down 0.5% versus February 2018 | $762,000 | −6.1% down 6.1% | −1.2% down 1.2% versus February 2018 | $588,100 | −4.6% down 4.6% | +0.6% up 0.6% versus February 2018 | $516,100 | +4.5% up 4.5% | +1.0% up 1.0% versus February 2018 | $389,600 | +26.0% up 26.0% | +2.4% up 2.4% versus February 2018 |
| Toronto C01 | $687,000 | +11.1% up 11.1% | +0.2% up 0.2% versus February 2018 | $1,056,600 | +4.0% up 4.0% | −1.7% down 1.7% versus February 2018 | $951,100 | +3.8% up 3.8% | −1.5% down 1.5% versus February 2018 | $749,800 | +5.1% up 5.1% | −0.2% down 0.2% versus February 2018 | $577,500 | +12.2% up 12.2% | +0.3% up 0.3% versus February 2018 |
| Toronto C08 | $678,800 | +11.4% up 11.4% | +4.1% up 4.1% versus February 2018 | $1,503,500 | −3.8% down 3.8% | +3.5% up 3.5% versus February 2018 | $1,212,600 | −4.5% down 4.5% | +3.5% up 3.5% versus February 2018 | $676,700 | +5.9% up 5.9% | −0.2% down 0.2% versus February 2018 | $561,400 | +13.0% up 13.0% | +4.3% up 4.3% versus February 2018 |
| Toronto E05 | $643,700 | −2.0% down 2.0% | +0.6% up 0.6% versus February 2018 | $888,200 | −16.3% down 16.3% | −0.0% down 0.0% versus February 2018 | $669,900 | −15.7% down 15.7% | −0.2% down 0.2% versus February 2018 | $536,500 | +0.6% up 0.6% | −0.8% down 0.8% versus February 2018 | $465,700 | +27.1% up 27.1% | +2.4% up 2.4% versus February 2018 |
| Toronto W04 | $635,900 | +8.3% up 8.3% | +2.7% up 2.7% versus February 2018 | $787,700 | +2.3% up 2.3% | +2.1% up 2.1% versus February 2018 | $700,400 | +5.7% up 5.7% | +4.0% up 4.0% versus February 2018 | $518,700 | +10.1% up 10.1% | +1.7% up 1.7% versus February 2018 | $366,600 | +22.5% up 22.5% | +4.0% up 4.0% versus February 2018 |
| Toronto E07 | $629,500 | +3.8% up 3.8% | +0.7% up 0.7% versus February 2018 | $864,000 | −9.9% down 9.9% | −0.1% down 0.1% versus February 2018 | $658,400 | −6.8% down 6.8% | −0.9% down 0.9% versus February 2018 | $553,100 | +3.8% up 3.8% | +0.6% up 0.6% versus February 2018 | $432,800 | +21.7% up 21.7% | +2.1% up 2.1% versus February 2018 |
| Toronto E04 | $621,200 | −1.1% down 1.1% | +0.2% up 0.2% versus February 2018 | $714,700 | −12.3% down 12.3% | +0.9% up 0.9% versus February 2018 | $598,100 | −8.3% down 8.3% | −1.9% down 1.9% versus February 2018 | $505,700 | +5.1% up 5.1% | −1.2% down 1.2% versus February 2018 | $424,900 | +27.2% up 27.2% | +0.0% up 0.0% versus February 2018 |
| Toronto E08 | $609,600 | +4.2% up 4.2% | +1.7% up 1.7% versus February 2018 | $770,500 | −5.5% down 5.5% | +2.8% up 2.8% versus February 2018 | $574,200 | −4.2% down 4.2% | +4.9% up 4.9% versus February 2018 | $500,900 | +8.6% up 8.6% | −1.3% down 1.3% versus February 2018 | $424,400 | +25.7% up 25.7% | +0.4% up 0.4% versus February 2018 |
| Toronto W06 | $594,500 | +1.8% up 1.8% | +2.7% up 2.7% versus February 2018 | $852,200 | −9.1% down 9.1% | +2.9% up 2.9% versus February 2018 | $666,400 | −5.6% down 5.6% | +5.2% up 5.2% versus February 2018 | $795,300 | +5.1% up 5.1% | +4.2% up 4.2% versus February 2018 | $432,000 | +17.5% up 17.5% | +2.6% up 2.6% versus February 2018 |
| Toronto E09 | $580,300 | +3.7% up 3.7% | +1.6% up 1.6% versus February 2018 | $680,300 | −11.5% down 11.5% | +0.8% up 0.8% versus February 2018 | $561,100 | −9.7% down 9.7% | +0.2% up 0.2% versus February 2018 | $494,900 | +5.8% up 5.8% | −0.8% down 0.8% versus February 2018 | $455,800 | +24.0% up 24.0% | +2.8% up 2.8% versus February 2018 |
| Toronto W09 | $568,700 | +4.8% up 4.8% | +1.8% up 1.8% versus February 2018 | $839,400 | −2.7% down 2.7% | +2.1% up 2.1% versus February 2018 | $573,100 | +0.8% up 0.8% | +0.8% up 0.8% versus February 2018 | $653,600 | +10.1% up 10.1% | no change no change versus February 2018 | $283,400 | +16.9% up 16.9% | +1.6% up 1.6% versus February 2018 |
| Toronto E11 | $565,200 | +12.9% up 12.9% | +1.8% up 1.8% versus February 2018 | $734,300 | +3.6% up 3.6% | +0.4% up 0.4% versus February 2018 | $585,500 | +5.3% up 5.3% | +1.5% up 1.5% versus February 2018 | $392,100 | +11.0% up 11.0% | −1.1% down 1.1% versus February 2018 | $440,400 | +38.9% up 38.9% | +5.5% up 5.5% versus February 2018 |
| Toronto W05 | $553,500 | +12.9% up 12.9% | −0.1% down 0.1% versus February 2018 | $804,600 | +4.8% up 4.8% | +1.4% up 1.4% versus February 2018 | $652,000 | +4.8% up 4.8% | +1.7% up 1.7% versus February 2018 | $402,800 | +14.7% up 14.7% | −0.9% down 0.9% versus February 2018 | $319,600 | +31.6% up 31.6% | −2.6% down 2.6% versus February 2018 |
| Toronto W10 | $548,900 | +10.1% up 10.1% | +2.1% up 2.1% versus February 2018 | $739,500 | +4.3% up 4.3% | +3.1% up 3.1% versus February 2018 | $634,700 | +5.3% up 5.3% | +2.4% up 2.4% versus February 2018 | $444,000 | +13.1% up 13.1% | −3.6% down 3.6% versus February 2018 | $328,100 | +19.3% up 19.3% | +2.2% up 2.2% versus February 2018 |
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.