Nine sales. Read the benchmark, not the average.

Nine sales in August, the fewest of any Toronto district, at an average of $1,951,637 and a median of $1,460,000. With so few transactions the average is not a valuation — one large Stonegate house moves it by hundreds of thousands. Homes sold at 98% of asking in 27 days, on 4.0 months of inventory and just 70 active listings, the fewest in the city.

The benchmark, which controls for what sold, is $1,228,600, down 2.36% on the year — a smaller decline than the City of Toronto's 3.73% and an improvement from July's 4.67%. Detached, $1,457,200, is down 2.10%; semis are flat on the year; the apartment benchmark, $513,100, is down 8.00% and is the soft spot, driven by the Queensway condo stock.

Stonegate and the Queensway are a small, stable freehold market under Etobicoke's condo corridor. Nothing here is a bargain, and little of it is for sale. If you want in, the conversation matters more than the listings feed; if you are selling, price to the benchmark, not to the neighbour's outlier. Ask before either.