January 2013 Composite MLS® Home Price Index (HPI)

The TREB Composite January 2013 Benchmark Price reached $453,600 (3.84%) versus a year ago and the MLS® Home Price Index (HPI) is 148.7. The Index allows an apple to apples comparison of benchmark home prices from one year to the next. The Index shows the price changes from the 2005 benchmark price base (100). The Index removes the influence of home sales that would skew average and median price data.

The Toronto Benchmark Price was $496,800 and the HPI came in at 151.6. Notable neighbourhoods that outperformed Toronto's HPI were Oakville at 163.9 ($604,600) and Burlington at 163.5 ($471,200) to the West and Richmond Hill at 162.6 ($588,700) and Markham at 161.4 ($556,000) to the North.

TREB believes that home prices will increase 3% to 5% in 2013 behind buyer competition.

COMPOSITE

   

PERCENTAGE CHANGES


NEIGHBOURHOOD


BENCHMARK
PRICE

INDEX
HPI

1
YEAR

3
YEAR

5
YEAR

10
YEAR

             

TREB

$453,600

148.7

3.84%

15.27%

25.80%

63.95%

TORONTO

$496,800

151.6

2.64%

11.88%

23.96%

64.07%

BURLINGTON

$471,200

163.5

3.42%

21.38%

38.56%

93.26%

HALTON HILLS

$427,100

146.7

3.09%

11.98%

23.48%

71.98%

MILTON

$419,600

149.6

4.18%

14.46%

25.61%

73.55%

OAKVILLE

$604,600

163.9

4.39%

15.18%

28.25%

95.12%

BRAMPTON

$355,800

139.5

3.95%

17.62%

25.45%

55.35%

CALEDON

$496,700

139.4

4.81%

13.89%

16.26%

62.28%

MISSISSAUGA

$419,600

150.1

5.41%

17.73%

27.42%

66.78%

AURORA

$482,700

149.9

8.23%

25.44%

31.38%

70.53%

MARKHAM

$556,000

161.4

4.13%

21.54%

37.13%

75.82%

NEWMARKET

$421,700

143.0

4.23%

19.77%

27.68%

61.58%

RICHMOND HILL

$588,700

162.6

5.31%

23.84%

39.93%

78.49%

VAUGHAN

$558,800

154.6

3.62%

20.50%

31.80%

73.12%

STOUFFVILLE

$583,600

154.8

7.95%

20.65%

26.89%

78.75%

AJAX

$333,400

134.9

4.49%

14.41%

20.77%

49.89%

OSHAWA

$240,200

125.5

6.90%

15.56%

15.67%

42.29%

PICKERING

$370,600

137.0

7.03%

15.51%

23.20%

53.24%

UXBRIDGE

$383,400

125.4

0.72%

9.62%

9.81%

48.75%

WHITBY

$344,400

132.0

4.68%

15.49%

22.56%

50.34%

             

SOURCE: TREB

           


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Donald Lum

Donald Lum

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