Source: TRREB MarketWatch, August 2024

MLS® Home Price Index

August 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 August 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 August 2024

Movers on the index

Composite, year-over-year

Top 10

  1. Burlington +1.2%
  2. Georgina +0.5%
  3. Toronto C14 −0.1%
  4. King −0.3%
  5. Toronto E02 −0.8%
  6. New Tecumseth −1.5%
  7. Toronto C12 −1.6%
  8. Toronto C11 −1.8%
  9. Toronto W01 −2.0%
  10. Toronto E06 −2.0%

Bottom 10

  1. Toronto E03 −10.4%
  2. Toronto C08 −9.7%
  3. Toronto W07 −9.0%
  4. Toronto C10 −7.8%
  5. Oakville −7.7%
  6. Whitchurch-Stouffville −7.6%
  7. Toronto W06 −7.1%
  8. Pickering −7.1%
  9. Toronto W04 −7.0%
  10. Toronto C02 −6.8%

Apartment, year-over-year

Top 10

  1. Toronto C12 +11.0%
  2. Toronto C03 +9.5%
  3. Toronto C14 +2.2%
  4. Toronto C04 +1.9%
  5. Toronto E11 +0.3%
  6. Oshawa −1.7%
  7. Toronto C13 −1.8%
  8. Caledon −1.9%
  9. Brampton −2.6%
  10. Toronto C09 −2.8%

Bottom 10

  1. Bradford West Gwillimbury −69.3%
  2. Innisfil −68.0%
  3. Toronto C08 −9.9%
  4. Toronto E01 −9.8%
  5. Toronto C02 −9.7%
  6. New Tecumseth −9.5%
  7. Toronto C11 −9.1%
  8. Toronto W02 −8.8%
  9. Toronto W04 −8.7%
  10. Whitchurch-Stouffville −7.9%

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 $2,914,300 −1.6% −1.2% $3,806,700 −1.4% −1.1% $1,449,100 −10.6% −3.4% $1,377,300 −7.6% −2.4% $1,490,300 +11.0% +1.6%
Toronto C04 $2,087,700 −3.8% −1.3% $2,684,100 −2.1% −1.6% $1,744,200 +4.0% −0.1% — n/a n/a $813,200 +1.9% +0.4%
Toronto C09 $2,068,000 −3.3% −5.3% $3,711,500 −2.0% −3.2% $2,341,800 −5.4% −3.4% $1,493,900 −16.5% +0.3% $1,143,400 −2.8% −9.8%
King $1,877,500 −0.3% +1.8% $2,189,000 +0.8% +2.4% $970,700 −3.5% −2.1% — n/a n/a $666,200 −7.4% −2.9%
Toronto C03 $1,610,700 −6.4% −2.6% $2,031,900 −8.9% −3.4% $1,311,600 −8.1% −3.0% $1,685,800 −10.6% −1.5% $915,000 +9.5% +1.2%
Toronto W07 $1,429,700 −9.0% −4.2% $1,681,300 −7.4% −3.7% $1,242,400 −9.9% −5.5% — −100.0% n/a $646,700 −3.9% +0.3%
Richmond Hill $1,426,700 −5.9% −2.0% $1,886,400 −4.7% −1.8% $1,217,900 −4.3% −2.0% $934,100 −2.0% −0.6% $619,800 −6.7% −3.7%
Toronto E02 $1,410,100 −0.8% −1.8% $1,938,900 +2.2% −1.5% $1,376,000 −1.4% −2.3% $1,124,500 +1.8% +0.7% $807,900 −4.3% −0.6%
Toronto C02 $1,402,300 −6.8% −3.7% $2,928,600 −6.0% −2.8% $2,038,500 −0.5% −0.6% $1,291,000 −11.8% −0.6% $908,000 −9.7% −7.5%
Aurora $1,372,500 −3.1% −1.1% $1,636,000 −2.5% −0.8% $1,130,800 −2.0% −1.6% $874,600 −10.2% −3.8% $644,600 −7.2% −3.5%
Whitchurch-Stouffville $1,370,600 −7.6% −1.7% $1,520,300 −7.4% −1.7% $1,054,300 −5.1% −0.7% $817,600 −12.0% −3.8% $601,700 −7.9% −3.6%
Vaughan $1,349,000 −4.2% −0.5% $1,772,000 −2.4% −0.3% $1,214,500 −3.4% −0.8% $914,700 −5.3% −0.4% $689,500 −3.4% +0.1%
Caledon $1,327,600 −5.8% −0.2% $1,444,100 −4.5% −0.3% $976,400 −5.4% +2.3% $1,040,400 −7.5% −1.9% $705,400 −1.9% −0.6%
York Region $1,323,700 −4.6% −1.1% $1,627,600 −3.6% −1.0% $1,172,600 −4.0% −1.2% $919,100 −4.6% −1.4% $666,300 −5.3% −1.2%
East Gwillimbury $1,320,000 −2.8% −0.4% $1,361,200 −3.0% −0.3% $922,600 −3.4% −0.9% — n/a n/a — n/a n/a
Markham $1,312,900 −5.1% −1.6% $1,795,500 −3.8% −1.8% $1,263,200 −4.1% −1.0% $970,400 −1.6% −0.9% $683,800 −5.9% −0.5%
Oakville $1,303,200 −7.7% −2.7% $1,770,000 −5.9% −2.5% $1,115,400 −5.5% −4.1% $889,000 −4.8% −1.6% $652,300 −4.5% −1.6%
Uxbridge $1,246,500 −3.2% +1.6% $1,322,600 −2.6% +1.9% $975,300 −2.4% +0.1% $639,500 −7.5% −2.6% $700,200 −4.9% −1.3%
Toronto C11 $1,236,500 −1.8% −3.5% $2,354,900 −4.8% −3.5% $1,428,500 −4.7% −2.6% $754,300 +0.7% −3.2% $531,700 −9.1% −7.4%
Toronto C13 $1,225,100 −5.0% −1.3% $1,938,800 −6.5% −1.6% $1,045,900 −2.9% −1.8% $925,000 −3.1% −4.0% $734,400 −1.8% −2.6%
Toronto W02 $1,195,400 −2.5% −3.6% $1,628,700 −1.7% −4.6% $1,266,000 +0.2% −4.9% $986,200 −9.5% +0.0% $686,200 −8.8% −0.0%
Toronto C07 $1,187,800 −4.1% −0.6% $1,985,600 −4.2% −2.4% $1,220,100 −2.9% −2.7% $857,700 +0.8% +0.8% $742,000 −4.8% +1.8%
Toronto E01 $1,187,200 −2.2% −0.6% $1,549,900 −1.9% −1.0% $1,348,900 +0.2% +0.2% $982,200 +1.4% +0.4% $715,300 −9.8% −4.2%
Newmarket $1,179,100 −5.8% −1.6% $1,303,900 −4.9% −1.4% $964,300 −5.3% −1.1% $811,100 −9.1% −2.4% $582,000 −6.5% −3.7%
Toronto E06 $1,162,800 −2.0% −1.8% $1,275,700 −1.8% −2.5% $1,054,900 +0.9% −1.8% $756,900 −15.8% −2.7% $733,800 −4.1% −0.1%
Toronto W01 $1,161,700 −2.0% +1.2% $2,128,400 +0.8% +1.0% $1,497,200 +1.0% +1.6% $902,900 −1.6% +0.8% $668,700 −6.5% −0.0%
Toronto C14 $1,139,900 −0.1% −1.4% $2,404,000 −3.7% −3.0% $1,557,700 −3.8% −3.4% $907,900 −7.3% −5.2% $788,400 +2.2% +1.3%
Toronto E03 $1,137,200 −10.4% −4.8% $1,308,900 −10.3% −4.4% $1,202,000 −9.5% −5.5% — n/a n/a $613,800 −3.6% −2.8%
Halton Region $1,127,200 −4.5% −0.5% $1,473,900 −3.2% −0.1% $996,600 −4.3% −0.7% $796,800 −5.3% −1.6% $617,000 −3.7% −1.4%
Bradford West Gwillimbury $1,123,200 n/a +0.2% $1,190,200 −2.7% +0.8% $927,000 −3.2% +0.6% $468,700 −70.4% −2.0% $518,900 −69.3% −3.8%
Halton Hills $1,093,500 −4.6% +0.1% $1,211,300 −4.0% +0.3% $862,100 −5.2% +0.9% $653,800 −4.4% −1.7% $617,400 −5.0% −1.7%
Toronto W08 $1,086,300 −3.7% −2.2% $1,834,500 −3.3% −2.9% $1,325,600 −5.9% −6.2% $805,500 −0.6% −1.8% $592,100 −6.2% −0.8%
All TRREB Areas $1,082,200 −4.6% −1.4% $1,397,100 −4.0% −1.3% $1,068,800 −3.8% −1.3% $805,200 −5.2% −1.5% $667,700 −5.3% −1.7%
Toronto C06 $1,078,600 −5.5% −0.3% $1,581,800 −7.8% −1.2% $1,262,600 −1.4% −2.6% $872,900 +0.6% +0.4% $637,400 −4.0% +1.5%
City of Toronto $1,059,600 −4.3% −2.1% $1,644,900 −4.2% −2.6% $1,276,700 −2.8% −1.9% $871,700 −4.2% −1.2% $693,400 −5.7% −2.0%
Toronto E10 $1,032,200 −4.1% −3.5% $1,224,100 −4.8% −4.1% $916,100 −5.0% −5.1% $686,100 −2.5% +3.7% $515,300 −7.0% −0.5%
Peel Region $1,028,700 −5.2% −0.8% $1,325,700 −4.4% −0.8% $957,700 −4.9% −0.8% $789,600 −5.6% −1.3% $594,600 −3.8% −0.4%
Mississauga $1,026,900 −5.3% −1.0% $1,483,000 −5.1% −1.3% $1,029,000 −5.1% −1.4% $825,600 −5.5% −1.4% $600,300 −4.1% −0.6%
Burlington $1,025,400 +1.2% +1.6% $1,360,600 +4.5% +2.9% $996,200 +2.5% +2.6% $749,600 −5.1% −1.6% $590,200 −3.4% −1.2%
Toronto C10 $1,024,400 −7.8% −2.8% $2,240,500 −3.7% −4.8% $1,634,000 −3.5% −3.9% $952,500 −11.6% +1.6% $717,200 −7.1% −2.0%
Whitby $1,023,500 −5.4% −0.7% $1,102,900 −5.8% −0.6% $859,600 −6.1% −0.8% $661,600 −8.2% −1.8% $569,800 −5.2% −0.9%
Milton $1,018,600 −6.2% +0.2% $1,311,500 −5.4% +0.8% $928,500 −6.5% +0.6% $769,100 −6.4% −1.6% $618,800 −3.5% −1.4%
Brampton $991,100 −5.4% −0.6% $1,166,600 −4.9% −0.6% $912,500 −5.0% −0.8% $701,000 −6.0% −1.2% $561,100 −2.6% +0.7%
Toronto W09 $989,300 −2.1% −3.7% $1,406,800 +0.5% −3.5% $1,192,300 +4.7% +0.4% $855,300 −2.5% +0.9% $471,800 −7.0% −6.7%
Pickering $988,300 −7.1% −2.0% $1,209,000 −5.9% −1.8% $886,000 −6.5% −1.8% $668,300 −6.2% −2.7% $582,500 −6.8% −1.4%
Scugog $982,000 −2.8% −2.4% $983,900 −2.7% −2.4% $759,700 −4.8% −0.5% — n/a n/a — n/a n/a
Ajax $976,400 −5.1% −1.2% $1,100,000 −4.9% −1.3% $901,300 −4.5% −0.9% $675,500 −6.6% −2.7% $534,900 −5.2% −1.0%
Toronto C15 $976,200 −3.9% −0.7% $2,014,500 −1.9% −0.9% $1,196,300 −1.1% −1.7% $882,900 −2.3% −2.6% $632,600 −3.8% +0.8%
Toronto W03 $971,700 −6.6% −1.6% $1,044,500 −6.9% −2.0% $1,021,800 −5.9% −1.1% $812,400 −4.4% +0.1% $611,400 −6.2% −0.0%
Toronto E08 $950,900 −5.0% −1.3% $1,237,700 −4.1% −2.9% $924,000 −2.2% −1.0% $700,000 −13.9% −2.1% $557,300 −3.7% +2.5%
Toronto W06 $928,500 −7.1% −4.2% $1,256,600 −8.9% −4.4% $1,164,400 −9.2% −5.6% $1,025,700 −0.7% −3.0% $729,100 −6.8% −4.0%
Toronto E05 $927,900 −5.6% −2.2% $1,315,000 −5.3% −3.3% $1,009,000 −6.3% −2.6% $786,300 −5.1% −2.2% $626,700 −3.0% +0.9%
Durham Region $920,100 −5.1% −1.6% $1,004,800 −5.0% −1.6% $807,000 −5.4% −1.8% $643,400 −6.0% −2.7% $546,400 −5.2% −1.2%
Toronto E07 $913,700 −6.8% −3.3% $1,218,200 −5.3% −4.0% $1,010,500 −4.5% −4.5% $842,600 −10.1% −2.3% $623,300 −6.8% −2.0%
Toronto W04 $904,000 −7.0% −1.3% $1,173,200 −6.9% −2.4% $939,100 −4.5% −0.2% $735,400 −2.7% +0.6% $603,500 −8.7% −0.3%
Simcoe County $895,100 −2.2% +0.2% $940,300 −1.6% +0.6% $779,000 −1.1% −0.1% $623,400 −6.6% −0.1% $577,300 −8.1% −3.5%
Toronto E04 $860,600 −4.0% −2.9% $1,071,400 −2.9% −4.0% $966,300 −1.2% −1.4% $767,800 −15.1% −2.0% $516,000 −5.4% −0.1%
New Tecumseth $852,700 −1.5% +0.4% $940,800 −0.2% +0.8% $714,300 −0.6% −0.2% $710,200 −5.8% +0.2% $549,100 −9.5% −4.3%
Toronto E09 $852,200 −2.3% −1.3% $1,056,600 −4.4% −2.7% $901,100 −1.9% −2.4% $693,600 −6.0% +2.1% $590,700 −5.0% −0.3%
Georgina $845,100 +0.5% +0.4% $846,100 +0.7% +0.5% $725,100 −4.5% −3.1% — n/a n/a — n/a n/a
Toronto W05 $841,400 −4.4% −0.4% $1,192,300 −5.1% −0.6% $978,300 −4.8% −0.5% $669,800 −6.5% −3.3% $541,600 −3.0% no change
Clarington $833,400 −5.9% −3.0% $922,300 −5.6% −3.2% $713,300 −6.9% −4.3% $626,300 −4.2% −2.7% $511,400 −5.9% −1.5%
Toronto C01 $820,100 −5.5% −1.5% $1,843,200 −4.5% +1.7% $1,490,300 −4.5% +0.7% $870,800 −5.4% −2.4% $732,800 −6.4% −2.0%
Oshawa $816,900 −4.4% −2.2% $870,200 −4.5% −2.4% $706,600 −3.9% −2.2% $613,200 −5.0% −3.3% $500,800 −1.7% −0.9%
Innisfil $814,600 n/a −0.3% $827,200 −2.3% +0.1% $654,600 −1.7% −1.9% $320,100 −69.2% −0.7% $629,400 −68.0% −2.9%
Toronto E11 $799,200 −5.7% −2.6% $1,077,400 −5.7% −3.9% $905,400 −5.0% −3.4% $738,300 −5.3% +1.8% $510,800 +0.3% −1.1%
Essa $797,200 n/a +0.5% $826,600 −1.1% +0.7% $689,400 −0.2% −0.1% $650,400 −69.0% +0.2% — n/a n/a
Dufferin County $783,700 −6.7% −0.6% $883,100 −7.4% +0.1% $698,000 −7.0% −0.7% $594,400 −5.3% +0.1% $471,800 −3.5% −0.1%
Orangeville $783,700 −6.7% −0.6% $883,100 −7.4% +0.1% $698,000 −7.0% −0.7% $594,400 −5.3% +0.1% $471,800 −3.5% −0.1%
Toronto W10 $783,100 −4.3% −1.5% $1,006,000 −5.3% −2.4% $894,900 −6.4% −2.8% $695,200 −5.1% +0.2% $536,000 −7.5% −0.7%
Toronto C08 $723,300 −9.7% −4.9% $2,144,300 −7.0% −4.1% $1,454,000 −7.5% −5.6% $1,076,000 −2.8% −1.1% $668,900 −9.9% −5.1%

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.