Source: TRREB MarketWatch, May 2024

MLS® Home Price Index

May 2024

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 May 2024

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 May 2024

Movers on the index

Composite, year-over-year

Top 10

  1. Toronto C03 +6.4%
  2. New Tecumseth +2.2%
  3. Toronto W03 +1.0%
  4. Aurora +0.7%
  5. Toronto W07 +0.5%
  6. Scugog +0.4%
  7. Toronto C02 +0.1%
  8. Uxbridge −0.2%
  9. Toronto W09 −0.2%
  10. Orangeville −0.3%

Bottom 10

  1. Milton −7.8%
  2. Brampton −7.5%
  3. Oakville −7.3%
  4. Halton Hills −6.8%
  5. Toronto C08 −6.5%
  6. Toronto C10 −6.4%
  7. Toronto C01 −6.1%
  8. Toronto C06 −5.8%
  9. Toronto C13 −5.5%
  10. Toronto W02 −5.0%

Apartment, year-over-year

Top 10

  1. Toronto C03 +12.4%
  2. Toronto C12 +10.0%
  3. Toronto C04 +6.0%
  4. Toronto W09 +5.6%
  5. Toronto C11 +4.5%
  6. Toronto C09 +2.6%
  7. Burlington +2.4%
  8. Toronto E05 +2.1%
  9. Milton +1.9%
  10. Halton Hills +1.5%

Bottom 10

  1. Bradford West Gwillimbury −67.7%
  2. Innisfil −66.3%
  3. Toronto C01 −9.2%
  4. Toronto E02 −7.8%
  5. Orangeville −6.9%
  6. Toronto W07 −6.3%
  7. Toronto E06 −6.2%
  8. Toronto C06 −6.1%
  9. Toronto C08 −5.9%
  10. King −5.6%

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 $3,013,300 −2.0% −1.5% $3,937,600 −1.8% −2.5% $1,559,700 −8.7% −9.1% $1,417,200 −5.5% −1.7% $1,498,400 +10.0% +2.9%
Toronto C09 $2,223,100 −3.8% −1.9% $4,012,400 −3.0% −3.2% $2,581,800 −2.8% −8.9% $1,624,500 −10.9% −1.8% $1,185,400 +2.6% +3.6%
Toronto C04 $2,166,700 −2.9% −1.9% $2,795,500 −0.8% −1.5% $1,800,100 +2.4% −2.8% — n/a n/a $812,900 +6.0% +2.8%
King $1,858,800 −2.4% −1.3% $2,153,000 −1.8% +2.4% $998,700 −1.8% +1.6% — n/a n/a $680,500 −5.6% −4.0%
Toronto C03 $1,732,300 +6.4% +1.7% $2,211,200 +5.4% +3.0% $1,398,300 +5.2% +2.5% $1,770,600 −6.4% +0.3% $935,400 +12.4% −5.0%
Toronto W07 $1,536,900 +0.5% −2.8% $1,803,800 +2.4% +3.1% $1,344,700 +5.8% −1.2% — −100.0% n/a $653,300 −6.3% −17.1%
Toronto C02 $1,518,300 +0.1% +0.7% $3,189,300 +7.5% +3.5% $2,146,600 +3.7% −0.9% $1,350,000 −5.3% −1.9% $1,019,400 −0.9% +0.9%
Richmond Hill $1,469,000 −3.8% −1.5% $1,937,900 −2.5% −2.2% $1,263,400 −1.4% −0.8% $939,100 −2.8% +0.8% $640,300 −3.6% −0.8%
Toronto E02 $1,455,200 −1.2% +3.9% $2,003,100 +1.5% +11.7% $1,449,500 −0.9% +4.1% $1,128,000 −1.1% −0.0% $780,900 −7.8% −1.7%
Whitchurch-Stouffville $1,437,500 −2.2% −0.1% $1,598,900 −1.2% −1.9% $1,091,700 −2.4% −1.7% $892,900 −2.2% +8.5% $625,400 −4.2% +0.7%
Aurora $1,421,000 +0.7% −2.0% $1,685,900 +0.8% −2.2% $1,194,000 +5.7% +0.3% $946,900 −3.0% −0.7% $661,200 −4.4% +0.8%
Oakville $1,378,600 −7.3% −1.9% $1,865,300 −5.5% −1.4% $1,194,900 −3.2% −1.1% $918,000 −4.8% −0.2% $675,800 +0.5% +1.2%
Vaughan $1,368,000 −3.4% −0.2% $1,784,300 −1.8% −1.7% $1,231,900 −1.5% −0.8% $935,600 −2.0% −0.3% $701,400 −2.4% +1.4%
Caledon $1,365,900 −2.1% −1.7% $1,476,200 −1.8% −1.0% $1,002,400 −1.2% −3.8% $1,071,400 −0.6% +5.9% $710,200 −0.5% −6.6%
York Region $1,359,000 −3.0% −1.2% $1,665,700 −2.0% −1.6% $1,211,200 −1.4% −0.6% $954,100 −2.7% +1.4% $684,000 −2.6% −0.0%
Markham $1,353,400 −4.1% −1.9% $1,842,800 −3.4% −1.5% $1,303,900 −2.8% −0.6% $996,200 −4.0% +2.2% $707,200 −1.7% −0.9%
East Gwillimbury $1,337,300 −0.8% −1.0% $1,374,600 −1.4% −1.7% $947,800 +1.3% +1.1% — n/a n/a — n/a n/a
Toronto C11 $1,321,500 −1.7% −3.1% $2,564,800 −3.6% −4.7% $1,558,400 −4.2% −6.4% $785,500 +0.1% +1.5% $559,600 +4.5% +2.6%
Toronto C13 $1,261,500 −5.5% +1.1% $2,007,300 −6.3% −1.3% $1,076,900 −2.9% −0.8% $937,700 −3.0% −0.4% $746,800 −1.1% +2.4%
Toronto W02 $1,261,500 −5.0% −5.4% $1,733,200 −6.7% −6.8% $1,360,400 −4.1% −3.1% $1,008,000 −7.5% +0.6% $696,300 −2.4% −1.7%
Newmarket $1,248,000 −2.0% −0.6% $1,376,200 −1.6% −0.7% $1,022,600 −2.0% −0.4% $877,300 +0.2% +1.3% $588,400 −4.3% −1.1%
Uxbridge $1,242,200 −0.2% +1.3% $1,316,000 +0.5% +1.5% $980,600 +1.0% +1.7% $668,300 −5.4% +1.0% $733,100 −1.0% −1.8%
Toronto E03 $1,232,600 −2.9% −1.9% $1,419,900 −2.4% −1.3% $1,320,900 −1.3% −1.1% — n/a n/a $606,300 −4.0% −0.8%
Toronto C07 $1,219,700 −2.2% +0.6% $2,096,900 −2.6% +1.2% $1,286,500 −1.3% +1.1% $851,400 +3.4% +0.6% $725,800 −1.6% −1.1%
Toronto E01 $1,204,900 −4.8% −0.1% $1,582,500 −3.1% −1.0% $1,350,800 −4.6% −1.9% $983,700 −1.5% +0.0% $765,900 −3.7% +4.1%
Toronto E06 $1,189,200 −1.5% −0.6% $1,320,500 −0.2% −1.1% $1,089,900 +4.2% −0.2% $820,100 +3.3% +0.2% $719,000 −6.2% +0.2%
Toronto C14 $1,172,600 −4.1% +2.4% $2,499,000 −4.7% +1.1% $1,646,100 −3.4% −2.2% $919,000 −8.6% +14.4% $801,500 −4.7% +1.7%
Halton Region $1,169,800 −6.1% −1.7% $1,525,300 −5.5% −2.0% $1,033,000 −5.9% −2.7% $827,200 −5.2% −0.2% $639,700 +1.9% +1.2%
Toronto W01 $1,146,000 −1.0% −2.4% $2,060,100 +0.2% −2.5% $1,458,100 −0.3% −4.9% $895,200 +1.1% +2.2% $684,800 −0.2% +2.3%
Halton Hills $1,124,100 −6.8% −2.7% $1,244,900 −6.2% −2.4% $886,200 −7.4% −3.6% $678,600 −5.0% −1.9% $641,200 +1.5% −3.6%
All TRREB Areas $1,117,400 −3.5% −0.9% $1,444,500 −2.5% −1.1% $1,110,000 −2.3% −0.7% $830,200 −2.8% +0.7% $685,300 −3.2% −1.5%
Bradford West Gwillimbury $1,116,500 n/a −0.4% $1,178,300 −0.8% −0.6% $909,700 −2.2% −0.4% $459,700 −69.2% −6.5% $544,000 −67.7% +1.4%
Toronto W08 $1,107,400 −0.8% −1.4% $1,891,100 +1.2% −0.8% $1,436,700 +7.2% +1.1% $809,100 −0.6% +1.6% $610,300 −2.2% −0.9%
Toronto C06 $1,104,000 −5.8% −1.6% $1,693,700 −4.2% −0.2% $1,312,600 +1.3% +6.7% $861,700 +2.4% −0.0% $619,200 −6.1% −2.5%
City of Toronto $1,098,000 −2.8% −0.9% $1,722,900 −1.8% −0.6% $1,339,300 −0.5% +0.2% $893,900 −1.0% +2.2% $711,700 −4.0% −2.1%
Toronto C10 $1,070,600 −6.4% +0.3% $2,367,300 −3.1% +7.6% $1,747,300 +0.3% +8.6% $991,200 −7.4% −2.1% $741,300 −3.1% −3.3%
Toronto E10 $1,069,600 −1.3% −1.2% $1,279,300 −1.1% −2.3% $964,700 −0.2% −1.6% $662,800 −6.0% +2.0% $521,200 −3.9% −1.4%
Whitby $1,067,700 −1.6% −0.5% $1,154,700 −1.5% −1.5% $898,700 −2.3% −0.2% $651,900 −9.3% +3.6% $594,000 −1.5% −1.3%
Peel Region $1,055,500 −4.9% −0.6% $1,359,200 −4.0% −1.0% $988,300 −5.2% −1.5% $812,100 −2.3% −0.0% $604,300 −2.0% −0.3%
Mississauga $1,053,200 −3.2% −0.2% $1,525,700 −2.1% −0.3% $1,065,300 −2.4% −0.4% $849,200 −2.3% +0.2% $614,000 −1.6% +0.1%
Milton $1,051,900 −7.8% −3.2% $1,351,900 −7.9% −4.2% $954,800 −8.6% −4.0% $801,700 −6.1% +0.2% $643,700 +1.9% +0.9%
Burlington $1,044,800 −3.0% −0.5% $1,373,000 −2.6% −1.4% $996,700 −4.5% −2.6% $781,000 −5.2% −0.2% $611,900 +2.4% +1.5%
Pickering $1,043,700 −1.7% +1.5% $1,279,300 +0.2% +2.0% $934,500 −0.6% +1.1% $694,500 −4.6% +1.1% $608,200 −2.9% −1.5%
Toronto W09 $1,019,200 −0.2% −2.0% $1,391,600 −1.7% −3.1% $1,219,600 +10.5% +8.3% $846,200 −1.2% +3.5% $543,400 +5.6% −2.4%
Brampton $1,018,300 −7.5% −1.0% $1,198,700 −7.2% −2.0% $940,400 −7.5% −2.1% $722,500 −2.6% −0.6% $550,100 −4.8% −2.5%
Toronto W03 $1,018,000 +1.0% +0.3% $1,088,100 +1.1% −0.4% $1,078,800 +1.6% +1.1% $825,000 −2.6% +1.3% $614,700 −0.4% +0.6%
Ajax $998,500 −3.8% −1.3% $1,125,500 −3.5% −1.0% $913,800 −4.1% −0.7% $702,200 −5.3% −0.7% $556,100 −1.3% −3.6%
Toronto C15 $998,500 −3.1% −0.9% $1,997,100 −5.2% −1.3% $1,198,900 −2.6% −1.6% $905,300 −1.8% +4.3% $654,200 +0.6% −2.9%
Toronto E08 $984,300 −1.3% −0.7% $1,302,500 −0.6% −1.4% $974,400 +5.0% −2.4% $748,700 +5.0% +3.3% $549,300 −1.1% −2.7%
Toronto W06 $982,000 −0.4% +0.5% $1,364,300 +1.7% −0.3% $1,268,400 +6.5% −1.5% $1,053,300 +1.9% +0.6% $757,800 −4.0% +0.5%
Toronto E05 $975,800 −3.2% −1.2% $1,390,700 −3.5% −1.9% $1,072,800 −2.2% −1.0% $843,600 −1.1% +0.9% $640,300 +2.1% −2.6%
Scugog $972,300 +0.4% +1.1% $971,800 +0.1% +1.3% $769,400 +1.5% +2.4% — n/a n/a — n/a n/a
Toronto E07 $956,700 −4.7% −1.4% $1,290,400 −4.7% −3.1% $1,065,600 −4.2% −2.7% $898,200 −4.1% +0.8% $629,600 −3.2% −0.3%
Durham Region $952,800 −2.3% −0.3% $1,042,000 −2.0% −0.4% $836,400 −2.9% −0.3% $660,800 −4.1% −0.2% $568,000 −1.4% −2.0%
Toronto W04 $918,500 −2.2% −1.9% $1,209,900 −1.5% −1.4% $977,000 −1.0% +1.7% $735,500 +0.5% +2.2% $600,500 −3.3% −2.5%
Simcoe County $909,200 +1.3% −0.5% $953,000 +1.8% −1.4% $781,800 +1.0% +0.3% $633,800 −1.5% −1.4% $601,900 −3.5% −3.0%
Toronto E04 $889,500 −4.2% −2.2% $1,122,100 −5.8% −1.9% $970,500 −2.8% −2.7% $826,700 +3.2% +1.6% $523,300 −2.0% −3.6%
New Tecumseth $868,200 +2.2% −1.2% $953,600 +2.8% −3.5% $725,400 +2.3% +0.3% $725,300 +0.8% −0.3% $573,900 −3.7% −4.1%
Toronto E09 $864,300 −3.2% −1.6% $1,102,500 −5.0% −1.7% $933,700 −3.4% −0.7% $689,400 −4.4% +1.3% $588,200 −2.5% −1.8%
Toronto W05 $862,300 −3.4% −1.1% $1,223,900 −5.3% −1.9% $1,006,900 −4.2% −1.5% $720,900 +1.0% +6.6% $538,300 −0.6% −6.4%
Clarington $861,200 −4.2% −1.5% $953,500 −3.8% −1.0% $745,300 −5.5% −1.8% $644,200 −1.9% −8.4% $532,500 −1.4% −1.3%
Oshawa $853,500 −1.7% −0.4% $912,200 −1.7% −0.7% $735,300 −1.3% no change $629,900 −1.4% −0.4% $513,400 +0.6% −3.4%
Toronto C01 $841,200 −6.1% −1.2% $2,005,300 +3.5% +8.1% $1,645,600 +4.8% +7.9% $913,200 +0.9% +3.8% $738,800 −9.2% −3.8%
Georgina $840,300 −1.6% −2.4% $842,000 −1.4% −1.9% $740,700 −1.4% +0.8% — n/a n/a — n/a n/a
Innisfil $837,100 n/a no change $849,700 +2.2% −0.7% $685,900 +2.8% +2.4% $313,600 −67.7% −5.7% $658,100 −66.3% −2.6%
Toronto E11 $834,700 −4.1% +0.3% $1,131,600 −2.9% +0.3% $945,500 −2.8% +0.1% $758,800 −2.4% +2.8% $523,800 −3.8% +0.4%
Toronto W10 $829,000 −1.4% +0.6% $1,080,600 −4.3% +0.7% $940,900 −4.1% +0.9% $715,800 +2.2% +3.4% $559,300 −2.1% −0.1%
Essa $813,200 n/a −0.7% $841,500 +1.9% −0.9% $700,800 +2.2% −0.6% $664,900 −67.0% −1.7% — n/a n/a
Dufferin County $802,400 −0.3% −0.2% $903,800 −0.7% +0.7% $720,900 +0.2% +0.5% $602,800 +1.7% −2.3% $461,100 −6.9% −9.0%
Orangeville $802,400 −0.3% −0.2% $903,800 −0.7% +0.7% $720,900 +0.2% +0.5% $602,800 +1.7% −2.3% $461,100 −6.9% −9.0%
Toronto C08 $766,400 −6.5% −6.0% $2,302,200 −2.6% −0.8% $1,566,300 −4.4% −1.3% $1,105,700 −1.9% −3.7% $711,300 −5.9% −6.2%

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.