Source: TRREB MarketWatch, July 2023

MLS® Home Price Index

July 2023

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 July 2023

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 July 2023

Movers on the index

Composite, year-over-year

Top 10

  1. Richmond Hill +7.3%
  2. Toronto E10 +7.2%
  3. Aurora +6.9%
  4. King +6.7%
  5. Toronto W07 +6.6%
  6. Markham +6.4%
  7. Whitchurch-Stouffville +6.3%
  8. Toronto E07 +5.7%
  9. Newmarket +5.3%
  10. Toronto E03 +4.5%

Bottom 10

  1. Bradford West Gwillimbury −6.3%
  2. Essa −5.4%
  3. Toronto C10 −5.0%
  4. Toronto C02 −3.9%
  5. Innisfil −3.6%
  6. New Tecumseth −3.5%
  7. Caledon −3.4%
  8. Toronto E01 −3.2%
  9. Toronto E02 −2.4%
  10. Toronto W05 −2.3%

Apartment, year-over-year

Top 10

  1. Toronto C09 +7.4%
  2. Toronto C11 +3.4%
  3. Toronto E03 +3.3%
  4. Toronto C04 +3.2%
  5. Toronto W06 +1.5%
  6. Toronto E02 +1.4%
  7. Toronto C13 +1.2%
  8. Markham +0.9%
  9. Toronto C01 +0.7%
  10. Toronto C03 +0.7%

Bottom 10

  1. Toronto W05 −9.5%
  2. Toronto C14 −8.9%
  3. Toronto E11 −8.6%
  4. Toronto E09 −8.3%
  5. Halton Hills −7.3%
  6. Pickering −5.7%
  7. Ajax −5.7%
  8. Whitby −5.6%
  9. Uxbridge −5.2%
  10. Caledon −5.1%

Every area

71 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 $3,154,600 +1.0% +1.4% $4,118,000 +1.3% +1.0% $1,966,400 +14.9% −0.4% $1,493,300 −9.0% −2.2% $1,441,700 −3.8% +5.7%
Toronto C09 $2,332,200 +0.6% −5.9% $4,060,100 +0.4% −8.6% $2,752,600 +2.7% −8.2% $1,872,700 −9.7% +1.0% $1,308,800 +7.4% +2.7%
Toronto C04 $2,283,600 −2.2% −0.6% $2,866,800 −1.3% −0.7% $1,761,500 −2.1% −0.7% — n/a n/a $855,300 +3.2% +6.5%
King $1,957,800 +6.7% +0.6% $2,176,400 +6.9% +0.8% $1,038,700 +9.6% +0.3% — n/a n/a $779,200 −1.3% +1.7%
Toronto C03 $1,697,900 −1.0% −1.1% $2,130,000 +0.3% −1.6% $1,370,700 −0.4% −3.4% $1,956,200 −5.6% −1.7% $987,100 +0.7% +5.1%
Toronto W07 $1,651,000 +6.6% +4.6% $1,842,600 +9.4% +5.5% $1,398,600 +5.7% +3.6% $1,040,600 −9.6% +0.5% $786,800 −4.3% −1.4%
Richmond Hill $1,547,400 +7.3% −0.4% $2,026,200 +8.3% −0.4% $1,305,400 +8.5% −0.4% $959,900 −9.6% −0.2% $692,800 −0.4% +1.4%
Toronto C02 $1,509,800 −3.9% −4.5% $2,970,600 −2.7% −2.8% $2,043,100 −4.0% −4.3% $1,487,000 −12.7% −1.6% $1,023,000 −1.6% −5.5%
Whitchurch-Stouffville $1,497,500 +6.3% +0.9% $1,678,400 +6.6% +1.1% $1,155,700 +9.4% +0.2% $845,100 +0.7% −0.0% $677,200 −1.9% +1.4%
Toronto E02 $1,476,400 −2.4% −2.1% $1,866,200 −2.5% −2.7% $1,445,800 −1.9% −2.3% $1,125,400 −8.3% +0.2% $862,100 +1.4% −2.3%
Aurora $1,459,600 +6.9% +0.7% $1,720,900 +7.1% +0.6% $1,190,100 +8.6% +0.4% $993,200 +5.2% +1.6% $709,600 −1.3% +1.3%
Caledon $1,433,500 −3.4% +0.7% $1,521,400 −3.8% +0.3% $1,076,100 −0.4% +1.1% $1,047,200 +2.8% +1.9% $807,100 −5.1% +1.6%
Markham $1,429,900 +6.4% −1.5% $1,920,400 +6.9% −1.5% $1,354,000 +8.5% −1.9% $1,004,900 +5.3% −1.1% $750,600 +0.9% +0.3%
York Region $1,419,500 +4.3% −0.6% $1,729,200 +5.0% −0.6% $1,245,600 +4.6% −1.0% $972,700 +1.1% +0.4% $727,700 −0.8% +0.8%
Vaughan $1,416,400 −1.1% −0.9% $1,845,100 +0.0% −1.0% $1,255,300 −2.6% −1.2% $975,300 −3.7% +1.6% $736,600 −3.1% +0.8%
Oakville $1,406,100 +3.3% −2.1% $1,853,400 +6.0% −1.5% $1,190,200 +7.1% −2.6% $889,100 +1.7% −3.6% $686,600 −4.1% +0.9%
East Gwillimbury $1,394,600 +4.3% +0.6% $1,442,900 +4.2% +0.4% $960,500 +2.1% +1.1% — n/a n/a — n/a n/a
Toronto C13 $1,350,900 +4.0% +1.8% $2,178,100 +6.1% +2.1% $1,134,000 +7.0% +1.6% $988,000 −6.2% −0.3% $786,000 +1.2% +0.4%
Toronto C11 $1,335,800 −0.6% −6.7% $2,645,300 +1.1% −7.6% $1,613,700 −0.6% −8.7% $782,600 −2.3% −0.4% $597,500 +3.4% −0.5%
Toronto W02 $1,321,100 −0.8% −3.2% $1,791,000 +2.5% −4.2% $1,368,700 +1.2% −4.2% $1,098,800 −8.5% +0.5% $767,700 −4.3% +0.9%
Toronto E03 $1,310,100 +4.5% −1.2% $1,505,500 +5.7% −0.7% $1,368,500 +2.4% −1.9% — n/a n/a $665,800 +3.3% −0.8%
Uxbridge $1,302,100 +2.3% +2.5% $1,374,800 +2.3% +2.6% $1,024,800 +0.4% +3.0% $697,200 −4.8% +1.0% $766,800 −5.2% −0.6%
Newmarket $1,293,000 +5.3% −0.1% $1,420,500 +5.8% −0.6% $1,054,100 +4.5% −1.1% $887,900 +4.5% +2.7% $640,200 −0.1% +1.3%
Toronto C07 $1,266,800 −0.7% −0.7% $2,175,200 +2.8% −1.8% $1,335,300 +7.9% −0.1% $844,000 −8.8% +0.4% $765,800 −5.0% +1.2%
Toronto E01 $1,262,500 −3.2% +0.1% $1,652,400 −2.2% +1.4% $1,424,200 −2.5% −0.2% $974,800 −6.6% −0.3% $806,200 −3.4% +1.9%
Toronto E06 $1,206,100 −0.4% −0.8% $1,318,500 −0.6% −1.0% $1,066,200 −4.7% −0.5% $895,100 −1.3% +4.3% $786,400 +0.4% −2.6%
Toronto W01 $1,201,800 −1.3% +0.9% $2,154,800 +2.1% +1.8% $1,530,100 −0.8% +2.2% $925,500 −7.0% +1.5% $705,600 −4.8% −0.8%
Halton Region $1,189,000 +2.8% −1.6% $1,539,600 +4.8% −1.3% $1,050,800 +5.3% −2.1% $802,400 +1.1% −3.8% $646,000 −4.3% +0.7%
Toronto C06 $1,188,500 +0.3% −1.1% $1,790,900 +2.2% −0.6% $1,281,700 no change +2.7% $867,600 −9.7% +0.5% $667,400 −2.5% −1.5%
Toronto C14 $1,163,100 −0.6% −4.1% $2,602,800 +7.8% −2.8% $1,782,000 +11.3% −0.6% $911,700 +0.3% +3.5% $776,600 −8.9% −5.9%
All TRREB Areas $1,161,200 +1.3% −0.9% $1,489,100 +3.0% −0.7% $1,135,700 +2.4% −1.4% $848,200 −2.4% −0.3% $728,000 −2.0% −0.3%
Halton Hills $1,161,000 +1.5% −0.8% $1,277,900 +1.5% −0.7% $913,200 +2.7% −1.7% $666,400 +1.4% −3.3% $675,900 −7.3% +0.1%
Toronto C10 $1,156,600 −5.0% −1.9% $2,377,100 −3.2% −2.6% $1,739,300 −3.1% −2.7% $1,124,700 −8.6% −0.5% $799,800 −2.0% −0.8%
Toronto W08 $1,149,800 +0.1% +0.3% $1,952,600 +2.6% +1.5% $1,431,100 +3.1% +2.9% $789,900 −9.5% +1.4% $624,700 −4.7% −2.2%
Bradford West Gwillimbury $1,148,900 −6.3% +1.2% $1,213,500 −5.7% +1.5% $952,700 −6.3% +1.0% $500,200 −28.2% −2.2% $577,100 −2.3% +1.9%
City of Toronto $1,142,700 +0.5% −1.0% $1,765,200 +3.1% −1.1% $1,346,400 +0.8% −1.6% $921,500 −3.9% +1.1% $761,500 −1.5% −0.7%
Whitby $1,113,000 +2.2% −0.1% $1,217,700 +2.5% −0.1% $928,800 +2.0% −0.9% $716,100 −5.9% +0.3% $624,500 −5.6% −1.0%
Peel Region $1,108,200 −0.9% −0.9% $1,424,200 +0.1% −0.9% $1,037,800 +0.5% −1.5% $842,800 −2.8% −0.0% $629,200 −3.9% −0.1%
Mississauga $1,105,500 −0.9% −0.1% $1,602,800 +0.8% +0.4% $1,113,600 +0.4% +0.1% $878,900 −2.2% no change $632,100 −4.4% −0.4%
Toronto E10 $1,088,100 +7.2% −1.8% $1,294,000 +7.7% −2.7% $962,200 +9.0% −1.7% $730,900 +6.7% +1.0% $566,900 −4.5% +2.8%
Pickering $1,082,700 +0.7% −1.1% $1,312,900 +2.8% −1.0% $968,900 +2.4% −1.0% $716,400 −4.6% +0.1% $638,900 −5.7% −1.4%
Milton $1,079,800 +2.2% −2.7% $1,395,800 +3.0% −2.6% $985,600 +3.7% −2.8% $779,700 +0.5% −4.0% $651,100 −4.8% +0.5%
Brampton $1,072,100 −0.6% −2.2% $1,269,900 −0.2% −2.4% $990,500 +0.5% −2.7% $756,400 −4.6% −0.2% $610,400 −0.8% +1.2%
Ajax $1,063,800 +1.3% −0.5% $1,197,200 +2.4% −0.4% $975,400 +2.1% −0.1% $742,000 −4.5% −0.1% $594,800 −5.7% −0.6%
Burlington $1,044,000 +2.5% −0.6% $1,376,000 +5.3% −0.2% $1,018,400 +6.6% +0.6% $754,100 +0.3% −4.2% $616,200 −4.3% +0.7%
Toronto C15 $1,042,500 +2.1% −0.2% $2,078,000 +5.6% −0.4% $1,240,500 +9.5% +0.5% $945,100 +2.5% +0.1% $681,000 −4.2% +1.1%
Toronto W03 $1,037,900 +1.6% −2.3% $1,114,800 +2.4% −2.4% $1,088,800 +2.8% −2.9% $862,800 −6.8% +0.5% $645,900 −3.6% +0.1%
Toronto W06 $1,034,300 +3.5% +3.6% $1,434,800 +8.6% +5.8% $1,318,700 +6.8% +4.1% $1,043,400 −8.9% +1.4% $820,800 +1.5% +2.2%
Toronto W09 $1,021,100 +3.0% −1.4% $1,422,800 +4.8% −2.3% $1,113,800 +0.1% −0.8% $852,200 −7.3% +0.4% $518,200 +0.3% +2.4%
Toronto E05 $1,018,600 +1.9% −0.6% $1,449,800 +5.1% −1.0% $1,109,200 +5.8% −0.6% $857,700 +0.5% −0.1% $659,800 −1.4% −0.1%
Toronto E07 $1,010,300 +5.7% +0.2% $1,352,300 +7.7% −0.6% $1,104,500 +7.7% −1.0% $966,900 +6.4% +1.2% $678,700 +0.4% +2.2%
Toronto E08 $1,006,000 +0.5% −0.5% $1,303,800 +2.6% −2.2% $983,100 −1.5% +0.8% $801,400 +0.2% +6.5% $598,500 −3.1% +2.2%
Scugog $1,004,900 −1.5% +1.6% $1,002,100 −1.8% +1.5% $810,500 +0.3% +4.2% — n/a n/a — n/a n/a
Durham Region $992,900 +1.1% −0.5% $1,087,400 +1.6% −0.4% $870,200 +2.1% −1.1% $697,200 −3.7% +1.0% $596,900 −5.0% −0.8%
Toronto W04 $985,400 +1.8% +0.8% $1,264,500 +3.9% −0.4% $1,006,400 +4.3% +0.2% $754,300 −6.7% +0.7% $667,500 −4.4% +3.8%
Toronto E04 $923,300 +1.5% −1.3% $1,134,900 +3.3% −3.1% $999,800 −0.8% −0.8% $905,900 −1.6% +5.3% $580,200 −2.2% +1.9%
Simcoe County $913,000 −4.1% +1.2% $959,400 −3.4% +1.4% $785,500 −4.3% +0.3% $652,000 −5.3% −0.8% $673,100 −2.0% +1.8%
Toronto C01 $900,800 +0.6% −1.7% $1,801,000 +0.7% −4.8% $1,478,000 −0.6% −5.1% $964,100 −0.3% +4.2% $829,300 +0.7% −1.3%
Clarington $892,600 −0.6% −2.1% $984,600 −0.5% −2.0% $758,100 +3.0% −4.0% $734,700 −2.4% +2.0% $556,200 −4.4% −0.9%
Toronto E09 $892,200 +0.4% −1.8% $1,145,300 +5.4% −2.0% $950,800 +3.3% −1.7% $755,300 +2.3% +1.1% $621,300 −8.3% −0.7%
Toronto W05 $887,600 −2.3% +0.1% $1,268,900 −0.2% +0.5% $1,033,900 +0.5% +0.3% $711,000 −7.3% +1.7% $581,400 −9.5% −1.6%
Oshawa $883,000 +1.3% +0.0% $947,300 +1.8% −0.2% $758,900 +2.7% −0.5% $654,600 −2.0% +2.2% $540,500 −3.2% −0.3%
Georgina $873,600 +0.5% −0.3% $870,000 +1.0% −0.1% $768,000 −8.9% +0.7% — n/a n/a — n/a n/a
Toronto E11 $867,900 −0.3% −2.5% $1,155,200 +1.9% −2.5% $975,200 +2.7% −2.0% $809,500 −0.7% −0.3% $514,400 −8.6% −3.7%
New Tecumseth $866,500 −3.5% +1.0% $965,600 −3.0% +0.8% $710,400 −4.7% −0.3% $738,300 −3.1% +0.4% $649,200 −1.8% +2.4%
Dufferin County $849,000 +0.4% +2.1% $948,400 +0.4% +1.6% $750,600 +1.1% +1.4% $622,200 +3.0% +0.8% $559,200 −0.5% +1.5%
Orangeville $849,000 +0.4% +2.1% $948,400 +0.4% +1.6% $750,600 +1.1% +1.4% $622,200 +3.0% +0.8% $559,200 −0.5% +1.5%
Toronto C08 $839,400 −2.1% −0.0% $2,496,400 −1.3% +5.1% $1,695,000 −4.0% +5.5% $1,155,600 −7.1% −0.4% $773,100 −1.0% −0.6%
Innisfil $837,600 −3.6% +1.3% $852,200 −2.8% +1.7% $684,800 −4.0% +0.9% $323,500 +1.1% −3.6% $742,000 −3.1% +1.3%
Toronto W10 $829,600 +1.2% −0.9% $1,086,300 +1.5% −1.4% $966,300 −5.3% +0.1% $699,300 −7.8% −1.4% $585,900 −0.4% +0.5%
Essa $804,000 −5.4% +0.8% $829,700 −4.8% +1.0% $691,800 −5.7% −0.1% $684,600 −2.7% −0.1% — n/a n/a

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.