February 2013 Composite MLS® Home Price Index (HPI)

The TREB Composite February 2013 Benchmark Price reached $457,000 (3.17%) versus a year ago and the MLS® Home Price Index (HPI) is 149.8. The Index allows an apple to apples comparison of benchmark home prices from one year to the next. The HPI shows the price changes from the 2005 Benchmark Price Base (100) and removes the influence of non-comparable home sales that would skew the average and median price data.

The Toronto Composite Benchmark Price was $501,800 (2.07%) and the HPI came in at 153.1. Notable neighbourhoods that outperformed Toronto's HPI were Oakville at 165.3 ($609,800) and Burlington at 166.9 ($481,000) to the West and Richmond Hill at 163.9 ($593,400) and Markham at 162.2 ($558,700) to the North.

Home prices are expected to increase approximately 2% to 3% in 2013.

     

PERCENTAGE CHANGES


NEIGHBOURHOOD


BENCHMARK
PRICE

INDEX
HPI

1
YEAR

3
YEAR

5
YEAR

10
YEAR

             

TREB

$457,000

149.8

3.17%

14.53%

25.67%

63.72%

TORONTO

$501,800

153.1

2.07%

11.51%

23.97%

64.09%

BURLINGTON

$481,000

166.9

6.04%

22.27%

40.37%

94.07%

HALTON HILLS

$430,600

147.9

3.57%

12.13%

22.54%

71.38%

MILTON

$419,900

149.7

4.03%

13.75%

23.62%

71.09%

OAKVILLE

$609,800

165.3

3.12%

13.92%

28.74%

95.16%

BRAMPTON

$355,800

139.5

3.41%

16.44%

24.66%

53.97%

CALEDON

$488,100

137.0

-0.22%

10.39%

14.45%

57.83%

MISSISSAUGA

$422,100

151.0

4.50%

16.69%

27.43%

67.04%

AURORA

$486,200

151.0

6.79%

22.47%

29.17%

70.05%

MARKHAM

$558,700

162.2

1.82%

19.18%

36.99%

74.97%

NEWMARKET

$425,300

144.2

4.72%

18.59%

26.94%

61.48%

RICHMOND HILL

$593,400

163.9

3.67%

22.40%

39.73%

77.77%

VAUGHAN

$563,900

156.0

4.00%

18.99%

31.53%

72.76%

STOUFFVILLE

$592,700

157.2

5.79%

20.37%

30.89%

77.83%

AJAX

$338,300

136.9

4.50%

15.24%

21.04%

50.61%

OSHAWA

$245,100

128.1

7.92%

16.67%

17.31%

44.26%

PICKERING

$373,100

137.9

7.90%

14.06%

22.58%

52.54%

UXBRIDGE

$392,000

128.2

2.64%

13.45%

10.80%

51.36%

WHITBY

$343,400

131.6

3.87%

14.34%

21.07%

49.04%

             

SOURCE: TREB

           

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Donald Lum

Donald Lum

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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