King West condo prices — the benchmark and the average moved in opposite directions

June 2026, King West condo apartments. The MLS Home Price Index benchmark stands at $569,000, down 6.40 per cent year over year. The average sale price stands at $759,728, up 5.3 per cent against June 2025. Both are correct. Only one of them tells you what your unit is worth: the benchmark is mix-adjusted and tracks a comparable unit, while the average records which units happened to change hands. If you price off the average because it is the larger and friendlier number, you are pricing off other people’s floor plans.

The figures on this page cover TRREB district C01, which spans King West, Liberty Village and the Waterfront. They describe that district, not any one neighbourhood inside it.

What the two numbers measure

The benchmark holds the unit constant. It is built to answer what a comparable condo apartment in the district is worth, and when it moves, the answer to that question has moved.

The average holds nothing constant. It is the arithmetic mean of what sold. Sell more large units in a month and it rises; sell more studios and it falls, with no change in what any individual unit is worth. The median sale price was $609,000 — a long way below the $759,728 average, which is what an average sitting above a median describes: a right-skewed distribution, a set of higher-priced sales pulling the mean up away from the middle of the market.

That is a definitional point, not an inference. An average above a median means the upper tail is heavier. It does not, on its own, tell you which units are in that tail.

The rest of the district’s June

Sales were 264, up 11.9 per cent year over year. Over the trailing twelve months, monthly sales in the district ranged from 125 to 264.

New listings were 609, down 31.0 per cent. Active listings finished at 1,145, down 32.6 per cent.

Sold listings averaged 37 days on market, and the average sale price came in at 97.0 per cent of the average list price.

Where the benchmark sits in its own history

The benchmark has fallen in nine of the last eleven months. It is the lowest print in the 54 months of figures held, but that follows from the direction of travel rather than marking anything new, and calling it a twelve-month low restates the trend while sounding like a discovery.

The distances are the part with information in them. Across the twelve-month window the benchmark went from $602,700 in July 2025 to $569,000, 5.6 per cent lower. Measured from the May 2022 peak of $897,000, it is 36.6 per cent below, across 54 months of published figures.

What we read into it

The divergence between the benchmark and the average reflects a change in what sold rather than a change in value. The mechanism is straightforward: the benchmark is mix-adjusted and the average is not, so a shift in the composition of sales towards higher-priced units moves the average without moving the benchmark. Confidence: moderate — it is the standard explanation for the two series parting, and the average sitting well above the median is consistent with a heavy upper tail. The test that would settle it is the share of sales by unit type and size against its trailing average, with the average sale price still elevated. We publish district and city aggregates and nothing below them, so this cannot be falsified with the data we publish. It would need unit-mix data for the district, which is not in our series. We are not substituting a test of the benchmark’s level, because the benchmark can go anywhere with this claim equally true or false.

Supply in the district is tighter than it was a year ago. Active listings at 1,145 are down 32.6 per cent and new listings at 609 are down 31.0 per cent, while sales are up 11.9 per cent. Confidence: high — this is close to a restatement of the published counts, and the inference is only that the condition persists rather than being a one-month artifact. Falsifier: active listings at the end of any month through to December 2026 print above their year-earlier figure. That single observable comes out one way if supply has loosened and the other way if it has not.

Sellers are meeting the market on price rather than on time. Observed: 97.0 per cent of list achieved, at 37 days on market. The mechanism would be that list prices are being set close enough to what buyers will pay that transactions close within a normal marketing period. Confidence: low. The ratio and the days figure are district averages and pool every seller, including those who listed at or below the benchmark from the start, so they cannot distinguish a seller who priced correctly from one who cut. Falsifier for the level, which is what we can actually test: the average sale-price-to-list-price ratio prints below 95.0 per cent in any month to December 2026. That tests the level and nothing about the reason.

What to do now

If you are buying, work from the benchmark and the median, not the average, and get the comparable set down to your unit type, floor and exposure before you write a number. Order the status certificate and read the reserve fund study, the special assessment history and the leasing and pet rules before your irrevocable period expires — five business days for a resale condominium is the standard ask, and it is short.

If you are selling, price against the benchmark and against what has closed in your building, and set your list price knowing the district average sale price is 97.0 per cent of the average list price with 37 days on market. Ask any agent quoting you $759,728 which units that number is made of.

If you are holding, the number that describes your position is the benchmark: $569,000, 36.6 per cent below the May 2022 peak of $897,000. Refinancing, an estate valuation or a matrimonial settlement all run off that figure, and an appraiser will not use the district average either.

TRREB Market Watch, released 2 July 2026. Verify current figures before relying on them.

Figures are TRREB Market Watch for June 2026, TRREB district C01, released 2026-07-02. They are re-read from our data layer on every build, so this page moves when the release does.

007Realty Corp., Brokerage. RECO registration no. 6024672.