In October the average price of a Toronto townhouse was up 4.2% from a year earlier. The benchmark price of a Toronto townhouse was down 6.94%. Both numbers are correct.
Both come from the Toronto Regional Real Estate Board (TRREB), for the same month and the same city. They disagree because they measure different things. The average price is what buyers spent per sale. The benchmark price, from the MLSยฎ Home Price Index, is the price of a typical home of one type.
Source: TRREB Market Watch and MLSยฎ Home Price Index, October 2026. Figures cover the City of Toronto, not the whole GTA.
What is the average home price in Toronto?
In October 2026 the average sale price in the City of Toronto was $1,075,627. The average price is the total value of every home sold in a month, divided by the number of sales. It is easy to calculate, and it moves with the mix of homes that sold. If more large homes sell one month, the average goes up, even when no single home gained value.
Say three condos sell for $600,000 each in one month, and one house sells for $1,400,000. The average is $800,000. The next month, one condo and three houses sell at the same prices, and the average is $1,200,000. The average rose 50% while every home sold for the same price as before.
The same thing happens with real figures. In October 2026, 741 of the 2,184 homes sold in the City of Toronto were detached, at an average of $1,603,886. Condo apartments made up 949 sales, at an average of $659,214. Move the slider to change how many of the sales were detached homes, and watch the citywide average move while every home type keeps its own average price.
Sales and average prices are TRREB's figures for the City of Toronto in October 2026. The slider changes only the share of sales that were detached homes. The other home types keep their shares of the remaining sales, and the average price of each type stays the same. Source: TRREB Market Watch, October 2026.
City of Toronto, October 2026:
| Home type | Sales | Average price | Median price |
|---|---|---|---|
| Detached | 741 | $1,603,886 | $1,260,000 |
| Semi-detached | 266 | $1,225,229 | $1,125,748 |
| Freehold townhouse | 80 | $1,244,686 | $1,110,000 |
| Condo townhouse | 137 | $742,764 | $690,000 |
| Condo apartment | 949 | $659,214 | $545,000 |
| All home types | 2,184 | $1,075,627 | $835,000 |
Source: TRREB Market Watch, October 2026. All home types includes 11 sales of other types.
One unusual sale can move the average
Outliers have the same effect. Ten homes sell for $1,000,000 each, and the average is $1,000,000. Add one sale at $5,000,000, and the average for all eleven is about $1,364,000.
What is the median home price in Toronto?
In October 2026 the median sale price in the City of Toronto was $835,000. Half of all homes sold for $835,000 or less. The average for the same month was $1,075,627, because a smaller number of expensive sales pulled it about $240,000 higher.
What is the MLSยฎ Home Price Index, or benchmark price?
The benchmark price comes from TRREB's MLSยฎ Home Price Index. It prices a typical home for each area and home type, with a fixed set of features, and it prices that same typical home every month. A change in the benchmark shows how the value of a typical home of that type changed. The mix of sales and the odd outlier have far less effect on it.
Why did the average and the benchmark disagree in October 2026?
City of Toronto, change from October 2025:
| Home type | Average price | Benchmark price |
|---|---|---|
| Detached | down 1.2% | down 3.82% |
| Semi-detached and attached | up 0.5% | down 4.08% |
| Townhouse | up 4.2% | down 6.94% |
| Condo apartment | down 5.6% | down 6.97% |
In all four home types the average looked better than the benchmark. For semis and townhouses the average rose while the benchmark fell. A seller who read only the average would expect more than typical homes of that type sold for.
When the average is still useful
The average answers a different question. It tells you how much buyers spent per sale in an area that month, which helps when you want a sense of budgets in a neighbourhood. It does not tell you how the value of one home changed.
The benchmark has limits too
The benchmark describes a typical home, and your home may differ from it. TRREB reports it by district, and one district can cover several neighbourhoods. The overall benchmark for district C10 (Mount Pleasant East and West) was up 3.18% from a year earlier. Every home type inside C10 was down: detached homes 1.90%, semi-detached and attached homes 3.17%, townhouses 1.60% and condo apartments 1.10%. Read the line for your own home type, and treat it as a starting point. The October market post has the benchmark for all 35 Toronto districts.
What neither number knows about your home
An average or a benchmark does not take your specific property into account, or what your neighbours' homes sold for. The best way to get an accurate price is to talk to an agent who understands the market and your specific neighbourhood. Ask for a comparative market analysis (CMA). A CMA compares your home with recent sales of similar homes nearby, adjusts for the differences, and sets the outliers aside.
Which number to use
- If you plan to buy, use the benchmark for your home type and area to see how prices for that kind of home moved over the past year. Before you offer on a listing, ask your agent for the recent comparable sales.
- If you plan to sell, start with a CMA from an agent who knows your neighbourhood. Use the benchmark to check your expectations against a year ago.
- If you read a headline, check which number it quotes, and for which area.
Everything here reports what happened in October. For the benchmark month by month, see Toronto house prices over the last 12 months.
If you are an agent
Sellers often arrive at a listing appointment with a headline number. This post gives you a short way to explain the gap. The average is what buyers spent, and the benchmark is what a typical home of that type is worth. At the appointment, show the benchmark for their home type and area, then walk through the CMA.
Related for agents: Brokerage Perks That Actually Matter (And Which Ones Don't) ยท Why Good Agents Leave Brokerages (And What Makes Them Stay)
Questions and answers
What's the average price for a house in Toronto?
In October 2026, the average sale price in the City of Toronto was $1,075,627. The median was $835,000. Half of all homes sold for $835,000 or less. Source: TRREB Market Watch, October 2026.
What is HPI in real estate?
HPI stands for Home Price Index. The benchmark price comes from TRREB's MLSยฎ Home Price Index. It prices a typical home for each area and home type, with a fixed set of features, and it prices that same typical home every month.
What is the difference between the average price and the benchmark price?
The average is the total value of every home sold in a month, divided by the number of sales. It moves with the mix of homes that sold. The benchmark tracks a typical home of a given type, so the mix of sales and an odd outlier have far less effect on it.
What is the median home price in Toronto?
In October 2026, the median sale price in the City of Toronto was $835,000.
Can the average and the benchmark move in opposite directions?
Yes. In October 2026, the average price of a Toronto townhouse was up 4.2% from a year earlier, and the benchmark price of a Toronto townhouse was down 6.94%. Both figures are from TRREB, for the same month and the same city.
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Source: TRREB Market Watch, October 2026. TRREB MLSยฎ Home Price Index, October 2026. Figures cover the City of Toronto, not the GTA. Prepared by Forest Hill Real Estate Inc., Brokerage.