Sold above asking, at the lowest benchmark in Toronto.

Thirty-one sales in August at an average of $704,597 and a median of $705,000. Homes sold at 102% of asking in 26 days — tied with W02 for the highest sale-to-list ratio of Toronto's 35 districts — on 5.0 months of inventory. The benchmark is $663,700, down 8.06% on the year, the lowest composite benchmark in the city.

The apartment benchmark, $399,600, is down 16.80% on the year, the steepest condo decline of any Toronto district and a sharp change from July's −2.30% — treat it as a small segment moving on few sales, but the direction is clear. Detached, $925,800, is down 6.08%. Above-asking sales and a falling benchmark together mean sellers list low and buyers compete up to a lower ceiling than a year ago.

For buyers, Malvern and Rouge are among the most affordable freehold districts in the city, with the Rouge park on the doorstep and the planned Sheppard East extension. For sellers, the 102% says pricing sharply works. Ask for the condo-versus-house split; they are not the same market this month.