Source: TRREB MarketWatch, December 2022

MLS® Home Price Index

December 2022

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 December 2022

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 December 2022

Movers on the index

Composite, year-over-year

Top 10

  1. Toronto C14 +4.0%
  2. Toronto C01 +0.1%
  3. Toronto C15 −1.6%
  4. Toronto C07 −1.6%
  5. Richmond Hill −2.4%
  6. Toronto C12 −3.3%
  7. Markham −3.6%
  8. Toronto C13 −3.7%
  9. Toronto E02 −4.4%
  10. Toronto W01 −4.9%

Bottom 10

  1. Toronto C11 −20.2%
  2. Toronto C09 −19.8%
  3. Toronto E10 −18.9%
  4. Milton −18.6%
  5. Clarington −18.2%
  6. Halton Hills −16.1%
  7. Toronto C03 −15.2%
  8. Essa −14.0%
  9. Innisfil −13.5%
  10. Toronto C02 −13.3%

Apartment, year-over-year

Top 10

  1. Toronto E09 +5.6%
  2. Toronto W09 +4.1%
  3. Toronto C14 +4.1%
  4. Toronto C15 +3.8%
  5. Toronto W01 +3.8%
  6. Mississauga +3.2%
  7. Toronto C03 +3.1%
  8. Toronto C12 +2.9%
  9. Toronto E03 +2.8%
  10. Toronto C01 +2.2%

Bottom 10

  1. Toronto C02 −11.5%
  2. Toronto E08 −5.7%
  3. Toronto C08 −5.4%
  4. Toronto C09 −5.1%
  5. Innisfil −4.7%
  6. Whitchurch-Stouffville −4.6%
  7. King −4.6%
  8. Vaughan −4.4%
  9. Aurora −3.8%
  10. Newmarket −3.5%

Every area

72 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 $2,993,000 −3.3% −1.0% $3,920,600 −7.0% −1.2% $1,547,600 −7.0% −1.5% $1,360,100 −6.5% −0.6% $1,391,900 +2.9% −2.8%
Toronto C04 $2,116,800 −7.5% −2.0% $2,619,000 −8.0% −1.5% $1,622,900 −4.9% −1.6% — n/a n/a $779,300 −1.1% −3.7%
Toronto C09 $2,040,100 −19.8% −4.9% $3,372,800 −23.6% −5.5% $2,254,000 −24.1% −5.6% $1,813,400 −7.1% −3.5% $1,185,400 −5.1% −4.0%
King $1,832,000 −4.9% −2.6% $2,033,700 −5.2% −2.6% $980,100 +0.7% +0.9% — n/a n/a $734,900 −4.6% −1.8%
Toronto C03 $1,519,000 −15.2% −4.0% $1,901,100 −17.4% −4.6% $1,198,900 −14.8% −4.4% — n/a n/a $914,100 +3.1% −1.0%
Toronto W07 $1,444,000 −10.6% −0.8% $1,652,000 −11.4% −0.5% $1,220,700 −10.1% −0.3% $1,063,800 −5.1% −1.3% $762,800 −0.5% −3.0%
Richmond Hill $1,436,100 −2.4% +0.6% $1,892,900 −3.5% +1.2% $1,207,100 −3.7% +0.6% $894,700 +3.1% −0.2% $641,600 −2.4% −3.0%
Toronto C02 $1,412,200 −13.3% −6.7% $2,621,300 −15.9% −5.2% $1,957,500 −12.7% −5.4% $1,388,300 −10.4% −2.5% $929,200 −11.5% −9.4%
Toronto E02 $1,372,300 −4.4% +1.2% $1,761,400 −4.6% +2.0% $1,295,200 −6.5% +0.3% $1,111,900 −1.4% −1.1% $880,600 +1.8% −1.4%
Whitchurch-Stouffville $1,370,700 −8.7% +1.3% $1,525,300 −9.0% +1.7% $1,048,100 −5.8% +2.5% $844,000 −5.7% +3.2% $660,300 −4.6% −3.0%
Oakville $1,354,000 −11.6% +1.2% $1,740,500 −12.1% +1.6% $1,133,600 −11.3% +2.2% $843,600 −11.7% −1.4% $676,100 −1.1% +0.4%
Markham $1,352,100 −3.6% +0.7% $1,806,200 −5.2% +0.9% $1,256,000 −4.3% +1.0% $878,700 −8.2% −0.5% $705,100 +1.9% −0.7%
Aurora $1,331,400 −6.5% −0.0% $1,583,400 −7.3% +0.0% $1,052,400 −10.3% −0.3% $877,800 −3.8% +0.5% $640,600 −3.8% −2.8%
Caledon $1,326,900 −13.1% −0.2% $1,420,100 −13.1% +0.6% $969,400 −11.6% −1.9% $979,400 −1.3% +0.9% — n/a n/a
York Region $1,317,100 −5.3% −0.0% $1,601,900 −6.4% +0.2% $1,143,400 −5.3% −0.0% $865,500 −5.2% −0.1% $681,000 −1.7% −1.5%
Vaughan $1,306,400 −6.2% −1.4% $1,687,500 −6.7% −1.4% $1,148,800 −5.0% −1.8% $859,800 −6.3% −0.6% $694,500 −4.4% −1.2%
Toronto C13 $1,268,600 −3.7% −0.6% $2,072,200 −5.4% −1.0% $1,062,300 −4.1% −1.3% $881,000 −6.5% −1.8% $713,500 −1.6% −0.9%
East Gwillimbury $1,266,000 −10.6% −0.3% $1,319,000 −11.0% −0.4% $824,200 −9.4% −2.3% — n/a n/a — n/a n/a
Toronto W02 $1,221,900 −12.0% +1.3% $1,643,600 −14.9% +2.3% $1,243,500 −14.0% +0.9% $1,029,300 −3.5% −2.7% $753,500 −0.5% +1.1%
Toronto C07 $1,221,600 −1.6% −0.4% $2,034,800 −5.6% −0.1% $1,232,500 −0.6% +0.8% $824,200 +0.6% −2.7% $783,000 −0.0% −1.3%
Toronto E01 $1,212,300 −6.5% −0.8% $1,524,500 −7.2% −1.4% $1,310,700 −7.4% −0.6% $1,011,200 −0.7% −0.5% $840,900 −1.2% −0.5%
Uxbridge $1,192,000 −8.6% −2.5% $1,238,000 −9.1% −2.7% $874,100 −8.3% −0.7% $696,700 −8.8% −2.3% $727,100 −2.2% −1.6%
Newmarket $1,186,600 −7.5% −0.4% $1,311,900 −8.2% −0.4% $970,500 −7.2% −0.3% $792,800 −3.3% +1.2% $585,300 −3.5% −2.2%
Toronto C14 $1,170,500 +4.0% +1.8% $2,562,600 −0.0% +2.7% $1,692,200 +1.8% +3.1% $766,900 −4.9% −7.1% $817,300 +4.1% +1.9%
Toronto E03 $1,142,400 −10.5% −1.8% $1,299,300 −11.0% −1.9% $1,173,300 −12.9% −2.7% — n/a n/a $616,800 +2.8% −1.7%
Toronto C11 $1,135,800 −20.2% −4.3% $2,181,700 −25.0% −5.4% $1,297,800 −25.4% −5.7% $691,600 −1.4% −1.1% $542,200 −1.9% −1.6%
Halton Region $1,127,000 −13.0% −0.7% $1,424,200 −14.0% −0.5% $980,600 −14.7% −1.5% $770,600 −11.4% −1.4% $635,200 −0.6% +0.2%
Toronto W01 $1,119,200 −4.9% −1.6% $1,925,800 −10.8% −3.5% $1,390,500 −10.9% −4.3% $859,600 −2.7% −3.0% $679,600 +3.8% +2.4%
Toronto E06 $1,114,500 −11.2% −2.0% $1,217,900 −13.2% −2.0% $971,600 −13.4% −2.4% $830,800 +0.5% −2.9% $736,100 +1.8% −1.8%
Toronto C06 $1,099,000 −8.1% −2.3% $1,616,200 −9.3% −1.9% $1,124,000 −6.8% −5.0% $846,800 +0.4% −1.7% $651,000 −1.1% −3.0%
Halton Hills $1,095,300 −16.1% −3.2% $1,166,200 −16.2% −3.2% $844,000 −18.3% −4.4% $662,900 −10.2% −1.5% $668,400 −2.3% −1.0%
Toronto C10 $1,092,800 −7.0% +0.1% $2,141,900 −12.7% −0.9% $1,568,700 −11.1% −0.2% $1,037,500 −6.0% −1.8% $768,800 −0.0% +0.7%
All TRREB Areas $1,081,400 −8.9% −0.8% $1,364,800 −11.3% −0.6% $1,040,700 −10.2% −0.6% $791,800 −5.9% −1.4% $703,000 +0.1% −1.2%
Bradford West Gwillimbury $1,072,500 −8.9% +0.2% $1,129,500 −9.6% +0.3% $873,000 −7.4% −0.1% $675,700 −1.1% +3.2% $579,900 −3.4% −3.4%
City of Toronto $1,061,900 −6.9% −1.2% $1,599,300 −11.2% −1.1% $1,223,100 −9.4% −0.8% $846,300 −2.5% −2.3% $734,400 −0.1% −1.4%
Peel Region $1,035,700 −10.2% −0.8% $1,309,200 −12.5% −0.8% $965,500 −12.1% −0.7% $791,700 −4.5% −0.8% $625,000 +3.0% −0.6%
Toronto W08 $1,033,100 −11.1% −1.3% $1,716,200 −14.9% −1.2% $1,222,800 −11.6% −0.3% $713,700 −1.4% +0.2% $592,800 −2.4% −2.4%
Whitby $1,031,100 −12.9% +0.3% $1,127,500 −13.5% +0.6% $867,000 −13.2% +0.8% $646,200 −6.0% −2.2% $612,200 −0.9% −0.6%
Mississauga $1,025,100 −8.0% −1.1% $1,434,700 −12.0% −1.5% $1,017,300 −10.1% −0.7% $816,500 −4.6% −1.3% $635,600 +3.2% −0.2%
Brampton $1,013,900 −12.3% −0.7% $1,196,300 −13.1% −0.6% $935,000 −13.4% −0.5% $731,200 −4.1% +0.3% $569,700 +1.4% −2.4%
Pickering $1,007,500 −12.6% −0.4% $1,194,100 −13.5% −0.2% $877,200 −13.7% +0.1% $679,300 −9.9% −1.6% $626,800 −1.5% −0.7%
Milton $1,004,200 −18.6% −4.3% $1,285,100 −19.6% −4.6% $898,700 −19.3% −5.3% $747,700 −11.8% −1.4% $645,000 −1.6% −0.2%
Ajax $996,300 −11.6% −0.2% $1,097,800 −11.9% −0.4% $886,200 −11.3% +0.5% $689,100 −10.1% −1.2% $566,100 −1.9% −0.6%
Burlington $984,600 −10.3% −0.2% $1,260,400 −12.3% −0.1% $955,700 −8.5% +0.6% $732,000 −11.7% −1.4% $604,700 +0.1% +0.1%
Toronto E10 $966,900 −18.9% −4.6% $1,150,100 −22.6% −5.4% $861,200 −24.1% −6.3% $657,100 −2.0% +0.3% $527,100 +1.1% −3.6%
Toronto C15 $964,300 −1.6% +0.6% $1,917,700 −6.1% +1.9% $1,109,000 −2.6% +2.2% $801,300 −6.0% −5.7% $665,400 +3.8% +0.3%
Toronto E05 $946,200 −8.7% −1.0% $1,322,100 −13.2% +0.3% $997,000 −11.8% +0.2% $792,800 −3.1% −3.0% $629,200 +1.9% −2.7%
Scugog $942,400 −5.0% −1.9% $954,600 −4.9% −2.3% $686,200 −9.4% +0.5% — n/a n/a — n/a n/a
Toronto W09 $932,700 −10.3% +0.5% $1,256,800 −15.4% +1.3% $889,500 −14.4% −3.4% $833,600 +2.2% −1.5% $511,500 +4.1% −1.5%
Toronto W06 $931,500 −5.3% −3.1% $1,230,300 −10.5% −0.3% $1,106,500 −7.2% +0.1% $990,900 −3.0% −1.9% $763,200 −2.4% −5.8%
Toronto W03 $927,000 −7.6% −1.5% $977,500 −10.1% −1.5% $965,000 −7.0% −2.0% $851,700 −0.9% −2.5% $595,800 +1.3% +1.1%
Toronto E07 $924,900 −6.1% −1.7% $1,284,700 −10.9% −0.3% $1,017,000 −9.1% +0.4% $824,200 −3.6% −6.4% $621,700 −0.2% −3.6%
Toronto E08 $924,900 −12.1% −3.3% $1,193,100 −14.8% −1.7% $905,000 −12.9% −2.8% $739,900 +0.9% −3.1% $545,200 −5.7% −8.3%
Durham Region $918,400 −13.1% −1.1% $996,400 −13.7% −1.2% $793,900 −13.9% −0.7% $648,500 −9.7% −2.1% $582,100 −1.1% −1.1%
Toronto C01 $880,200 +0.1% +1.5% $1,625,800 −6.3% +3.1% $1,397,200 −7.1% +3.1% $852,000 −5.1% −3.6% $819,700 +2.2% +1.5%
Toronto W04 $875,400 −7.2% −0.8% $1,133,700 −9.8% +0.2% $899,700 −6.9% −1.8% $708,700 +0.9% −1.5% $592,900 −3.2% −2.8%
Toronto E04 $870,600 −10.3% −1.2% $1,074,800 −14.8% −0.9% $923,100 −11.5% −0.2% $851,400 +0.5% −1.9% $544,000 +1.3% −3.7%
Simcoe County $856,600 −12.0% +0.1% $899,900 −12.7% +0.2% $724,800 −9.8% −0.9% $663,000 −2.5% +1.6% $614,700 −2.3% −2.1%
Toronto W05 $844,600 −5.2% +0.8% $1,194,600 −9.3% +1.3% $952,400 −8.5% +0.8% $697,900 +11.5% −1.1% $584,000 −1.2% +1.6%
Toronto E09 $819,700 −9.2% −2.5% $1,019,400 −16.9% −1.4% $856,300 −15.0% −0.2% $679,200 −1.5% −0.1% $602,200 +5.6% −4.7%
New Tecumseth $819,500 −11.8% −0.6% $910,500 −13.5% −0.6% $661,900 −13.0% −1.7% $740,700 −2.6% +1.1% $605,800 −0.9% −1.2%
Clarington $817,600 −18.2% −3.2% $897,500 −18.6% −3.2% $674,600 −21.7% −4.7% $654,000 −12.4% −3.4% $556,800 −0.1% −1.6%
Oshawa $814,300 −12.1% −1.6% $866,000 −13.0% −1.6% $695,600 −10.8% −1.1% $610,900 −9.9% −2.4% $513,600 +1.6% −1.9%
Toronto C08 $803,400 −5.6% −3.0% $2,263,100 −3.7% −1.0% $1,633,100 −2.1% −0.2% $1,187,600 +1.4% +0.1% $737,000 −5.4% −3.4%
Georgina $802,300 −8.9% +2.4% $808,900 −8.9% +2.5% $693,600 −8.1% +1.2% — n/a n/a — n/a n/a
Toronto E11 $795,700 −9.5% −1.4% $1,048,400 −12.8% −1.8% $887,400 −11.2% −1.4% $729,100 −8.6% −0.6% $510,500 +1.6% −3.4%
Innisfil $790,500 −13.5% +1.0% $799,500 −13.5% +1.1% $652,200 −10.9% +1.4% $321,300 +3.0% +0.7% $641,100 −4.7% −3.2%
Dufferin County $777,500 −7.4% −1.1% $881,200 −7.8% −1.0% $685,800 −7.5% −0.5% $623,500 +2.3% +2.4% $507,100 +2.0% −4.4%
Orangeville $777,500 −7.4% −1.1% $881,200 −7.8% −1.0% $685,800 −7.5% −0.5% $623,500 +2.3% +2.4% $507,100 +2.0% −4.4%
Essa $740,100 −14.0% −0.8% $785,400 −14.8% −0.8% $639,800 −12.5% −2.3% $658,200 +0.5% +2.5% — n/a n/a
Toronto W10 $725,000 −12.5% −4.0% $958,200 −17.7% −2.8% $894,400 −11.0% −1.8% $664,400 −4.2% −3.3% $509,700 −2.8% −5.6%
Brock $662,000 −7.0% −2.8% $661,700 −6.9% −2.8% — −100.0% n/a — n/a n/a — 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.