Source: TRREB MarketWatch, October 2023

MLS® Home Price Index

October 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 October 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 October 2023

Movers on the index

Composite, year-over-year

Top 10

  1. Toronto C03 +8.1%
  2. Toronto W10 +6.5%
  3. Georgina +6.4%
  4. Caledon +5.7%
  5. Markham +5.3%
  6. Bradford West Gwillimbury +4.4%
  7. Toronto W07 +4.3%
  8. Vaughan +4.3%
  9. Whitby +4.2%
  10. East Gwillimbury +4.2%

Bottom 10

  1. Toronto E10 −5.8%
  2. Toronto W01 −4.8%
  3. Toronto C08 −3.0%
  4. Toronto W06 −2.5%
  5. Toronto E01 −2.2%
  6. Oakville −1.7%
  7. Toronto E05 −1.6%
  8. Toronto C04 −1.6%
  9. Toronto C02 −1.4%
  10. Pickering −1.1%

Apartment, year-over-year

Top 10

  1. Toronto W10 +9.4%
  2. Toronto C11 +6.5%
  3. Toronto E02 +4.8%
  4. Toronto E03 +4.6%
  5. Toronto W01 +4.5%
  6. Toronto C07 +4.2%
  7. Toronto E06 +4.2%
  8. Toronto W03 +3.5%
  9. Markham +3.0%
  10. Oakville +2.3%

Bottom 10

  1. Toronto W06 −9.2%
  2. Toronto C12 −7.4%
  3. Toronto E01 −6.8%
  4. Innisfil −5.9%
  5. Whitchurch-Stouffville −5.6%
  6. Aurora −4.9%
  7. Bradford West Gwillimbury −4.9%
  8. Toronto C03 −4.7%
  9. Toronto C02 −4.6%
  10. Newmarket −4.0%

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 $2,918,800 −0.7% −1.7% $3,826,300 −0.6% −1.9% $1,756,100 +11.4% −2.1% $1,445,400 +0.4% −3.3% $1,259,200 −7.4% −1.6%
Toronto C09 $2,234,200 −0.5% +1.9% $4,026,000 +4.4% +2.5% $2,671,200 +5.1% +1.9% $1,777,700 −6.5% −2.0% $1,190,800 −2.4% +1.0%
Toronto C04 $2,134,300 −1.6% −2.2% $2,718,600 +0.8% −1.2% $1,676,700 +1.0% +0.8% — n/a n/a $744,300 −3.6% −5.4%
King $1,900,800 +3.5% +0.1% $2,115,900 +3.6% +0.1% $996,700 +4.1% −0.3% — n/a n/a $730,000 −2.6% −0.5%
Toronto C03 $1,628,600 +8.1% −4.8% $2,097,100 +12.2% −4.8% $1,297,900 +6.2% −6.6% $1,841,700 −2.9% −3.0% $849,100 −4.7% −3.2%
Toronto W07 $1,540,900 +4.3% −0.6% $1,698,900 +5.0% −0.2% $1,332,900 +5.7% −1.9% $1,043,100 −0.2% +0.4% $768,500 +0.9% −2.5%
Toronto C02 $1,471,100 −1.4% −1.0% $2,943,700 +6.2% −3.2% $2,043,200 +0.5% +0.0% $1,450,200 −1.5% +1.2% $985,100 −4.6% −0.1%
Richmond Hill $1,469,000 +4.1% −1.4% $1,932,800 +5.0% −1.4% $1,242,000 +5.5% −1.4% $944,800 +1.2% −3.1% $651,600 −0.5% −1.2%
Toronto E02 $1,404,300 +2.2% −0.6% $1,778,500 +3.3% +0.1% $1,370,500 +2.4% −0.6% $1,098,800 −6.0% +2.5% $824,500 +4.8% −6.3%
Whitchurch-Stouffville $1,399,500 +3.4% −3.5% $1,568,200 +3.4% −3.9% $1,079,300 +6.0% −2.8% $792,800 +4.7% −5.4% $623,600 −5.6% −1.5%
Caledon $1,394,500 +5.7% −1.5% $1,489,700 +6.3% −1.4% $1,038,400 +5.4% −1.3% $1,001,900 +2.7% −2.7% $785,000 +0.5% +0.0%
Vaughan $1,389,000 +4.3% −0.8% $1,818,100 +5.4% −0.9% $1,248,600 +5.3% −1.6% $958,500 +7.8% −1.1% $716,500 +1.7% +0.8%
Markham $1,371,300 +5.3% −0.7% $1,831,200 +4.4% −1.1% $1,291,300 +5.8% −1.1% $1,013,100 +15.8% +4.7% $726,100 +3.0% −0.4%
York Region $1,360,700 +4.4% −1.4% $1,657,700 +4.5% −1.5% $1,199,900 +5.5% −1.4% $954,400 +10.0% +0.3% $698,600 +1.2% −0.2%
Aurora $1,346,000 +2.9% −4.4% $1,581,400 +2.3% −4.6% $1,107,900 +5.5% −4.1% $929,500 +8.0% −3.4% $653,300 −4.9% −1.7%
Oakville $1,323,100 −1.7% −3.4% $1,729,500 −0.1% −3.9% $1,130,100 +2.2% −1.3% $896,300 +1.4% −2.9% $680,500 +2.3% −1.3%
East Gwillimbury $1,309,100 +4.2% −4.4% $1,360,200 +4.3% −4.0% $899,800 +3.6% −4.0% — n/a n/a — n/a n/a
Toronto C11 $1,300,800 +2.6% +1.6% $2,566,000 +3.3% +2.7% $1,569,200 +2.6% +0.9% $730,200 +2.9% −2.7% $577,300 +6.5% −0.7%
Toronto W02 $1,271,300 +2.1% −0.2% $1,712,300 +3.3% −0.4% $1,306,200 +2.8% +0.9% $1,066,100 −2.9% −2.3% $755,700 +2.1% −0.4%
Uxbridge $1,247,900 +1.4% −1.5% $1,319,100 +1.6% −1.3% $962,000 +0.4% −3.2% $670,900 −1.4% −1.4% $740,400 +0.5% +0.4%
Toronto C13 $1,239,100 +1.8% −4.1% $2,016,100 +3.0% −4.8% $1,055,600 +5.8% −5.3% $939,300 +4.3% −3.4% $721,200 +0.6% −1.7%
Newmarket $1,230,000 +3.3% −1.1% $1,350,700 +3.0% −1.3% $1,007,100 +3.9% −0.0% $828,900 +7.2% −4.3% $591,000 −4.0% −2.1%
Toronto C07 $1,219,000 +0.9% −2.3% $2,035,900 −0.3% −2.9% $1,247,300 +3.3% −2.2% $894,900 +4.9% +2.2% $771,500 +4.2% −1.2%
Toronto E03 $1,195,200 +2.7% −3.3% $1,366,700 +2.7% −2.9% $1,261,600 +2.8% −2.8% — n/a n/a $629,600 +4.6% −5.0%
Toronto E01 $1,174,300 −2.2% −0.0% $1,550,800 +0.2% +1.7% $1,327,900 −0.3% +0.8% $958,600 −3.5% +0.9% $747,500 −6.8% −4.4%
Toronto E06 $1,149,600 −0.9% −4.1% $1,263,600 −0.9% −3.8% $1,038,100 −0.5% −2.2% $806,300 −0.6% −6.6% $748,700 +4.2% −7.2%
Bradford West Gwillimbury $1,139,800 +4.4% −0.7% $1,207,100 +5.2% −0.5% $937,500 +5.4% −1.5% $472,700 −26.1% −3.5% $537,600 −4.9% −0.7%
Toronto C14 $1,134,000 −0.3% −1.3% $2,442,900 +0.8% −1.1% $1,645,200 +1.9% +0.1% $785,000 −5.5% −3.9% $800,900 −0.6% −1.7%
Toronto C06 $1,126,100 +0.8% −3.8% $1,677,800 +1.5% −4.1% $1,205,100 +2.2% −6.9% $915,400 +5.2% +2.8% $656,500 −0.8% −3.4%
Halton Region $1,124,500 +0.0% −3.4% $1,440,000 +1.0% −3.8% $987,200 +1.0% −3.3% $809,600 +0.9% −2.8% $641,100 +2.3% −1.1%
Toronto W01 $1,124,500 −4.8% −3.8% $1,934,700 −9.6% −5.8% $1,405,100 −7.8% −3.9% $934,400 +5.3% −0.7% $700,200 +4.5% −1.1%
All TRREB Areas $1,103,600 +1.4% −2.1% $1,411,100 +2.7% −2.1% $1,080,700 +3.0% −1.8% $828,700 +2.0% −1.6% $703,500 −0.7% −1.8%
Halton Hills $1,095,100 +0.1% −3.2% $1,201,800 +0.2% −3.2% $851,000 −0.6% −4.5% $671,200 +1.6% −2.8% $671,600 +0.9% −1.3%
Toronto W08 $1,093,700 +2.3% −1.7% $1,854,700 +3.8% −0.7% $1,366,800 +4.8% −1.4% $782,800 −0.9% −0.1% $608,800 +0.6% −2.2%
Toronto C10 $1,093,000 +0.3% −4.1% $2,329,300 +4.7% −3.7% $1,728,200 +8.2% −3.2% $1,046,000 −5.8% −3.1% $748,100 +1.2% −4.0%
City of Toronto $1,083,700 +0.3% −2.2% $1,664,300 +2.3% −2.3% $1,286,100 +2.9% −1.3% $885,200 +0.3% −1.2% $734,500 −1.2% −2.3%
Whitby $1,066,300 +4.2% −1.0% $1,162,500 +4.0% −1.4% $889,400 +3.2% −2.2% $710,400 +8.0% +1.6% $598,200 −0.6% −0.4%
Peel Region $1,045,700 +0.3% −2.6% $1,340,700 +1.3% −2.8% $976,800 +1.1% −2.7% $821,900 +2.8% −1.6% $608,900 −1.7% −1.4%
Mississauga $1,043,100 +0.2% −2.3% $1,495,100 +1.1% −2.6% $1,046,000 +1.9% −2.2% $864,500 +3.7% −1.4% $615,800 −1.6% −1.6%
Milton $1,008,800 −0.6% −5.2% $1,293,600 −0.2% −5.6% $914,700 −0.7% −5.7% $784,600 +0.3% −2.7% $647,400 +2.2% −0.9%
Brampton $1,006,900 −0.5% −3.2% $1,193,700 −0.2% −3.4% $931,200 +0.1% −3.2% $722,900 +0.3% −2.0% $568,600 −2.6% −0.7%
Pickering $1,005,600 −1.1% −2.4% $1,215,000 −0.1% −2.5% $893,900 −0.8% −2.9% $690,300 −1.2% −1.5% $615,100 −0.4% +0.2%
Ajax $1,000,000 +1.1% −0.5% $1,120,200 +1.0% −0.5% $909,500 +1.3% −0.3% $715,900 −1.1% −1.4% $573,500 +0.1% +0.1%
Burlington $1,000,000 +2.1% −2.4% $1,295,700 +3.6% −2.7% $964,600 +3.6% −1.6% $760,900 +0.0% −2.7% $610,600 +2.1% −1.1%
Toronto C15 $992,900 +2.5% −0.4% $1,969,900 +4.9% +0.3% $1,171,500 +9.0% +0.6% $909,000 +6.6% −0.7% $661,300 −1.9% −0.9%
Scugog $989,100 +0.5% −0.7% $989,300 +0.5% −0.5% $732,500 −0.6% −3.1% — n/a n/a — n/a n/a
Toronto W09 $983,900 +2.5% −4.4% $1,343,900 +2.4% −5.2% $1,097,900 +4.7% +0.5% $872,400 +6.2% −0.8% $524,900 +1.1% −2.4%
Toronto E10 $982,600 −5.8% −3.3% $1,166,900 −7.2% −4.0% $862,200 −7.5% −2.8% $698,400 +10.0% +0.5% $537,200 −1.2% −1.0%
Toronto W03 $975,200 +3.3% −3.3% $1,048,500 +4.3% −3.2% $1,008,800 +3.4% −4.4% $861,500 +2.6% −0.7% $645,200 +3.5% +0.5%
Toronto E05 $961,700 −1.6% −1.3% $1,355,800 −0.1% −2.3% $1,050,200 +2.0% −1.6% $814,000 −4.6% −0.4% $651,500 +1.4% +0.6%
Toronto W06 $961,400 −2.5% −1.3% $1,331,600 +4.7% −0.3% $1,259,700 +7.1% −2.0% $1,054,100 +0.3% +1.2% $752,000 −9.2% −1.7%
Toronto E08 $952,700 −0.8% −4.1% $1,237,100 no change −4.9% $954,200 +1.8% −1.8% $717,800 +0.4% −5.6% $575,400 +1.0% −2.4%
Toronto E07 $947,000 −0.5% −2.0% $1,253,400 −0.3% −2.7% $1,023,900 −0.1% −2.1% $874,500 −1.5% −3.6% $662,300 +0.6% −0.2%
Durham Region $943,000 +1.6% −0.9% $1,031,300 +1.7% −0.9% $821,300 +1.6% −1.2% $673,800 +1.3% −1.2% $575,200 +0.4% +0.3%
Toronto W04 $928,400 +2.4% −2.2% $1,192,200 +4.6% −2.1% $930,200 +2.5% −3.0% $759,500 +3.4% −1.2% $637,400 −2.1% −1.1%
Simcoe County $896,500 +3.1% −0.8% $945,500 +4.0% −0.5% $764,800 +4.2% −1.8% $622,600 −4.1% −4.0% $626,600 −4.6% −0.9%
Toronto C01 $875,700 −0.6% −1.8% $1,799,800 +6.1% −5.0% $1,497,000 +5.7% −4.8% $885,500 −1.2% −1.4% $804,600 −1.7% −1.1%
Clarington $866,800 +2.4% +0.1% $956,500 +2.7% +0.1% $737,200 +2.9% +0.3% $705,300 +0.8% −1.1% $537,700 +0.8% −0.1%
Toronto E04 $865,200 −0.3% −4.0% $1,053,200 −0.9% −5.4% $936,700 +1.2% −2.8% $803,700 −1.7% −6.7% $567,000 +0.3% +0.2%
Toronto W05 $850,900 +1.5% −1.0% $1,208,100 +2.2% −1.1% $981,900 +3.1% −1.8% $711,200 −3.6% +0.2% $560,000 −0.2% −2.4%
Georgina $848,600 +6.4% −0.6% $843,800 +6.2% −0.9% $747,200 +7.1% +2.3% — n/a n/a — n/a n/a
New Tecumseth $847,800 +2.8% −0.9% $949,000 +4.1% −0.3% $691,100 +2.9% −1.6% $707,300 −2.6% −3.8% $610,100 −3.5% −0.8%
Toronto E09 $841,700 +0.3% −3.7% $1,052,500 +1.0% −5.5% $875,700 +0.9% −5.4% $702,200 +5.8% −2.7% $623,200 −0.5% −0.0%
Oshawa $831,900 +0.8% −0.9% $890,200 +1.0% −0.9% $708,900 +1.1% −1.1% $630,400 +2.0% −1.9% $523,700 +1.8% +2.4%
Toronto E11 $830,100 +2.8% −0.3% $1,104,100 +2.7% −0.5% $941,800 +4.7% +0.9% $750,000 +4.5% −1.5% $521,700 +0.8% +2.9%
Innisfil $815,300 +1.6% −1.3% $833,400 +2.6% −1.1% $642,200 −0.3% −2.6% $311,000 +1.7% −3.8% $685,300 −5.9% −1.0%
Dufferin County $807,800 +2.7% −0.0% $900,100 +2.9% −0.6% $723,100 +4.3% +1.3% $600,100 +4.1% −3.7% $518,500 −3.5% −2.5%
Orangeville $807,800 +2.7% −0.0% $900,100 +2.9% −0.6% $723,100 +4.3% +1.3% $600,100 +4.1% −3.7% $518,500 −3.5% −2.5%
Toronto W10 $798,000 +6.5% −1.3% $1,003,500 +4.3% −3.4% $899,000 +3.6% −3.0% $683,300 −1.5% −6.2% $602,400 +9.4% +4.1%
Toronto C08 $795,500 −3.0% −6.6% $2,469,000 +7.3% +10.1% $1,659,700 +2.7% +8.3% $1,119,300 −4.3% −1.7% $729,800 −3.3% −8.6%
Essa $791,100 +2.3% −0.8% $819,600 +2.9% −0.5% $670,500 +2.8% −1.3% $665,700 +1.8% −3.2% — 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.