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Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$949,900 - 1476 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4190809

Surrounded by breathtaking views of the river valley, downtown skyline & distant horizon is this beautifully appointed luxury villa...perched on the ridge overlooking a winding greenbelt & treed ravine in The Landings at Cougar Ridge. Offering the finest of maintenance-free living, this extraordinary 2 bedroom + den home boasts upgraded hardwood floors & energy-efficient geo-thermal heating/cooling, 3 (!) titled parking…
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Raja Muhammad Shakeel Of RE/MAX COMPLETE REALTY

$379,900 - 1250 Sq.Ft

Beds
1
Baths
2.10

ACTIVE

Detached

MLS® #C4190663

Amazingly Exceptional and very Clean house & a Gem for First time buyers or investors. Great Location in Taradale Close to Schools, parks, buses and Genesis Recreation Centre. Main level has SPACIOUS Living room, Bright big Kitchen, Dinning room, Half Washroom. Wow there is a Laundry room & Mud room with the Back Door opening into a big Fully Fenced…
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Marianne Chan Of GRAND REALTY

$439,900 - 951 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Detached

MLS® #C4188465

56 FT X 127 FT. LANDSCAPED LARGR LOT, SPACIOUS 2 BEDROOM RAISED BUNGALOW, CLOSE TO SHOPPING, SCHOOLS, DOWNTOWN AND #3 AND #301 BUS ROUTE. BASEMENT HAS LARGE WINDOWS, HIGH CEILING AND SEPARATE ENTRANCE, HUGE DECK FOR FAMILY ENTERTAINMENT, HOUSE AND GARAGE ROOF SHINGLES REPLACED 2012, ALL WINDOWS REPLACED 2017, FENCE WAS REBUILT 2011, HARDWOOD FLOOR WAS REFINISHED 2011, KITCHEN FLOOR…
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Ammuel Chan Of CENTURY 21 BRAVO REALTY

$309,888 - 735 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4188989

EXCELLENT LOCATION WITH 5 MINS TO DOWN TOWN.THIS ONE BEDROOM WITH DEN AREA HAS OWN SEPERATED ENTRANCE AND BACK DOOR DIRECT TO UNDERGROUND TITTLE PARKING STALL.THIS UPGRADED UNIT FEATURE OPEN KITCHEN WITH ONE GOOD SIZE BEDROOM AND A FULL BATH AND DEN AREA.
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Avtar Singh Shergill Of MAXVALUE REALTY LTD.

$409,900 - 919 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Semi Detached

MLS® #C4191437

INNER CITY GEM , THE PROPERTY IS LOCATED IN THE HIGHLY SOUGHT AFTER COMMUNITY OF KILLARNEY , GREAT RENTAL PROPERTY OR LIVE UPSTAIRS AND HAVE ADDITIONAL INCOME FROM BASEMENT , ATTACHED BILEVEL OF 919 SQ FT , BASEMENT IS 828 SQ FT WITH SEPERATE ENTRANCE AND SEPERATE LAUNDRY , UPPER FLOOR HAS OPEN FLOOR PLAN AND A SIZEABLE DINNING ROOM…
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Serhan Tarkan Of ROYAL LEPAGE BENCHMARK

$198,000 - 820 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Row House

MLS® #C4190821

It doesn't get any better than this...lock-up & leave, maintenance-free living in this stylish stacked townhome in popular Chinook Crossing...this popular condo project next to Chinook Woods Regional Park & its 55+ acres of parklands & outdoor recreation. This beautifully upgraded upper level corner unit boasts soaring vaulted ceilings & vinyl plank flooring, 2 sun-drenched bedrooms & parking stall for…
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Raymond Ng Of GRAND REALTY

$429,900 - 1533 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4190309

Make this clean and inviting 3 bedroom home yours today! Extremely well maintained 3 bedroom home with 2 and a half baths. Conveniently located with easy access to bus routes and walking distance to CTrain station. This is a must see home to truly appreciate. Upgrades galore. You'll notice the gleaming hardwood floors as you enter the home that leads…
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Sunil K Sharma Of RE/MAX HOUSE OF REAL ESTATE

$439,900 - 1725 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4191372

Beautiful, Spacious very well kept with a lot of up grades, home in Monterey park. Main floor has living room formal Dining room with open to above. Main floor Family room with a fireplace, Good size Kitchen with New Appliances and a nook. Den and a laundry room is also on the main floor. Up stairs has Master bedroom with…
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Jon M Dick Of RE/MAX REAL ESTATE (CENTRAL)

$599,900 - 1957 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4191438

Beautifully renovated Woodbine Estates two storey backing west with partial mountain views. Stunning 42" espresso kitchen with glass tile backsplash, granite countertops and high quality stainless steel appliances. Enjoy soft close drawers, induction oven, and under-valance lighting. Sundrenched breakfast nook with oversized windows. Amazing baths all have leather granite countertops, 10 mil glass, heated tile floors, stand alone tub in…
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Avtar Singh Shergill Of MAXVALUE REALTY LTD.

$384,900 - 916 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Semi Detached

MLS® #C4191447

THIS IS 4 BEDROOM BILEVEL IN HIGHLY SOUGHT AFTER COMMUNITY OF KILLARNEY , GOOD RENTAL PROPERTY OR GIVE YOUR TOUCHES TO UPGRADE THIS PROPERTY FOR YOUR OWN LIFE STYLE , TENATS ARE THERE FOR 10 YEARS AND ARE WILLING TO STAY , UPPER FLOOR WITH OPEN FLOOR PLAN , THERE ARE TWO BEDROOMS WITH 4 PIECE BATHROOM ,BASEMENT IS FULLY…
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Chezlene Kocian Of RE/MAX ALPINE REALTY

$689,000 - 1084 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4191465

Situated on a lovely lot on a quiet street, this well cared for home enjoys an open concept floor plan with vaulted ceilings & picture windows which bask the home in natural light & stunning scenic views. Built in 2010, this home offers the best of current design & finishings with exposed beams, maple floors, maple cabinets & triple-pane windows.…
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Amy Long Of RE/MAX REAL ESTATE (CENTRAL)

$105,000 - 552 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4191144

THIS SUNNY AND SPOTLESS ONE BEDROOM UNIT 60+CONDO, TILE AND LAMINATE FLOORING THROUGHOUT,A SPACIOUS LIVING ROOM, INSUITE LAUNDRY,THIS SAFE AND SECURE CONDO BUILDING HAS A EXERCISE ROOM,PARTY ROOM, LIBRARY AND CRAFTS ROOM,INCLUDED ONE UNGERGROUND PARKING.
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Carole J Foley Of REAL ESTATE PROFESSIONALS INC.

$569,000 - 1419 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4191459

Rare opportunity knocking to own in one of Calgary's finest districts! Fantastic Rosemont location close to schools, parks, a short distance to the LRT and downtown. Original but well cared for home on a huge lot - 60ft at front and 85ft at the rear- over 809 m2 ( 8708ft2). The home has vaulted ceilings in the family room with…
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Happe Dhillon Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$339,990 - 1266 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4190279

Looking for a great family home in a quiet NE neighbourhood? Look no further than this immaculately kept home located in Martindale! As you enter and move out of the foyer you'll find yourself SPACIOUS and BRIGHT living room that'll make a great place to sit and relax or entertain. Next, we find the kitchen/dining space with updated appliances and…
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Sarah Konschuh Of FIRST PLACE REALTY

$89,000

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4173002

THINKING OF RELOCATING TO A SMALLER COMMUNITY OR DOWN SIZING ? LOCATION LOCATION LOCATION OF THESE UNIQUE 3 LOTS 44 X 95 IN THE CENTRE OF DIDSBURY'S HERITAGE AREA. ONE OF DIDSBURY'S PICTURESQUE STREETS BEAUTIFULLY TREED - TASTEFULL HOMES ALL AROUND - WALKING DISTANCE TO ALL MAIN AMENITIES & BACKS ONTO GREEN SPACE. BUY 1 BUY 3 THERE ARE LOTS…


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Canadian home sales at five-year low in May

Canadian home sales at five-year low in May

Ottawa, ON, June 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were little changed from April to May 2018.

Highlights:

  • National home sales edged down 0.1% from April to May.
  • Actual (not seasonally adjusted) activity was down 16.2% from May 2017.
  • The number of newly listed homes rose 5.1% from April to May.
  • The MLS® Home Price Index (HPI) in May was up 1% year-over-year (y-o-y).
  • The national average sale price declined by 6.4% y-o-y in May.

National home sales via Canadian MLS® Systems remained little changed in May 2018. Having edged 0.1% lower, it marked the lowest level for national sales activity in more than five years. (Chart A)

Slightly more than half of all local housing markets reported fewer sales in May compared to April, led by the Okanagan region, Chilliwack and the Fraser Valley, together with the Durham region of the Greater Toronto Area (GTA) and Quebec City. Declines in activity were offset by gains in Calgary, Thunder Bay, Brantford, London and St. Thomas, Oakville-Milton and the Quinte Region west of Kingston. A small increase in GTA sales also supported the national tally.

Actual (not seasonally adjusted) activity was down 16.2% compared to May 2017 and reached a seven-year low for the month. It also stood 5.5% below the 10-year average for the month of May. Activity came in below year-ago levels in about 80% of all local markets, led overwhelmingly by those in and around the Lower Mainland of British Columbia and the Greater Golden Horseshoe (GGH) region in Ontario.

“The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment is continuing to suppress sales activity,” said CREA President Barb Sukkau. “The extent to which it is sidelining home buyers varies among housing markets and price ranges. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.

“This year’s new stress-test became even more restrictive in May, since the interest rate used to qualify mortgage applications rose early in the month,” said, Gregory Klump, CREA’s Chief Economist. “Movements in the stresstest interest rate are beyond the control of policy makers. Further increases in the rate could weigh on home sales activity at a time when Canadian economic growth is facing headwinds from U.S. trade policy frictions.”

The number of newly listed homes rose 5.1% in May but remained below year-ago levels. New listings rose in about three-quarters of all local markets, led by Edmonton, Calgary, Montreal, Quebec City, Ottawa and the GTA.

With new listings up and sales virtually unchanged, the national sales-to-new listings ratio eased to 50.6% in May compared to 53.2% in April and stayed within short reach of the long-term average of 53.4%.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively; however, the range consistent with balanced market conditions varies among local markets.

For that reason, considering the degree and duration that market balance readings are above or below their long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, about two-thirds of all local markets were in balanced market territory in May 2018.

The number of months of inventory is another important measure for the balance between housing supply and demand. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.7 months of inventory on a national basis at the end of May 2018. While this marks a three-year high for the measure, it remains near the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI was up 1% y-o-y in May 2018, marking the 13th consecutive month of decelerating y-o-y gains. It was also the smallest y-o-y increase since September 2009. (Chart B)

Decelerating y-o-y home price gains largely reflect trends among Greater Golden Horseshoe (GGH) housing markets tracked by the index. While home prices in the region have stabilized and begun trending higher on a monthly basis, rapid price gains recorded one year ago have contributed to deteriorating y-o-y price comparisons. If recent trends remain intact, year-over-year comparisons will likely improve in the months ahead.

Apartment units again posted the largest y-o-y price gains in May (+12.7%), followed by townhouse/row units (+4.9%). By contrast, one-storey and two-storey single family home prices were down (-1.5% and -4.7% y-o-y respectively).

Benchmark home prices in May were up from year-ago levels in 8 of the 15 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly in the second half of 2016 (Greater Vancouver (GVA): +11.5% y-o-y; Fraser Valley: +20.6% y-o-y). Apartment and townhouse/row units have been largely driving this regional trend while single family home prices in the GVA have stabilized. In the Fraser Valley, single family home prices have also started rising.

Benchmark home prices were up by 11.5% on a y-o-y basis in Victoria and by 18.1% elsewhere on Vancouver Island.

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+3.8%). By contrast, home prices in the GTA, Oakville-Milton and Barrie were down from where they stood one year earlier (GTA: -5.4% y-o-y; Oakville-Milton: -5.9% y-o-y; Barrie and District: -6.3% y-o-y). This reflects rapid price growth recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were down slightly on a y-o-y basis in May (Calgary: -0.5% y-o-y; Edmonton: -0.9% y-o-y), while prices in Regina and Saskatoon were down more noticeably from year-ago levels (-6.2% y-o-y and -2.7% y-o-y, respectively).

Benchmark home prices rose by 8.2% y-o-y in Ottawa (led by a 9.5% increase in two-storey single family home prices), by 6.7% in Greater Montreal (led by a 7.3% increase in two-storey single family home prices) and by 4.3% in Greater Moncton (led by a 4.8% increase in townhouse/row unit prices). (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in May 2018 was just over $496,000, down 6.4% from one year earlier.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts more than $104,000 from the national average price to just over $391,100 and trims the y-o-y decline to 2%.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




CREA Updates Resale Housing Market Forecast

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 15, 2018 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2018 and 2019.

Housing market fundamentals remain strong in many parts of the country. Nonetheless, many housing markets continue to struggle in the face of policy headwinds.

The new mortgage stress test announced last October had been expected to cause homebuyers to rush purchases in advance of the new rules coming into effect in January and for the “pull-forward” of sales activity to result in fewer transactions in the first half of 2018.

Evidence suggests the policy response was stronger than expected, with seasonally adjusted national home sales last December having surged to the highest level ever recorded before dropping sharply in early 2018.

Actual (not seasonally adjusted) national sales figures for March, April and May are typically among the most active months in any given year. Combined sales fell to a nine-year low for the three-month period. The seasonally adjusted trend suggests sales momentum has not yet begun to rally.

Interest rates are widely expected to rise further this year and next. Home sales activity is nonetheless still expected to strengthen modestly in the second half of 2018 as housing market uncertainty diminishes.

Taking these factors into account, the national sales forecast has been revised downward and is now projected to decline by 11% to 459,900 units this year. The decrease almost entirely reflects weaker sales in B.C. and Ontario amid heightened housing market uncertainty, provincial policy measures, high home prices, ongoing supply shortages and this year’s new mortgage stress test.

The national average price is projected to ease to $499,100 this year. This is little changed from CREA’s previous forecast and a decline of 2.1% from 2017. Only Newfoundland and Labrador’s average price is expected to post a decline of that size, while more than half of all provinces are forecast to see increases. The national average price reduction reflects fewer transactions in B.C. and Ontario.

The average price decline forecasted for Ontario (-1.7%) largely reflects fewer higher-priced home sales in Toronto, particularly during the important spring market which usually sees a seasonal jump in the average price but which failed to materialize this year. While this seasonal pattern is expected to resume in 2019, the boost to the annual figure from the spring surge has been absent this year.

Meanwhile, home prices in Eastern Ontario, Quebec, New Brunswick, Nova Scotia and Prince Edward Island are expected to continue rising following steadily firming market conditions in recent years. British Columbia is also now forecast to see its average price rise in 2018, as prices in the province have been more resilient than previously expected.

Home prices are forecast to edge down by 1% in Alberta, by 1.5% in Saskatchewan and by 2.9% in Newfoundland and Labrador. In the latter two provinces, supply remains historically elevated in relation to demand.

In 2019, national sales are forecast to rebound modestly to 474,800 units but remain below annual levels recorded in 2014 through 2017. The anticipated partial recovery in sales over the second half of 2018 from deferred purchases over the first half of the year in Ontario and B.C. is subsequently expected to fade over 2019 as interest rates continue to rise. This trend is also predicted to occur in other provinces but be most pronounced in B.C. and Ontario, where transactions have fallen sharply over the first half of 2018 despite a supportive economic and demographic backdrop for housing demand.

The national average price is also forecast to rebound by 3.8% to $518,300 in 2019, reflecting an expected return to normal seasonal patterns for spring sales activity and prices in Ontario housing markets. Indeed, the MLS® Home Price Index is rising among urban centres in B.C. and Ontario.

Market balance is continuing to firm in Quebec, New Brunswick, Nova Scotia and Prince Edward Island. Further modest price increases in these provinces are forecast in 2019, with price gains held in check by rising interest rates. Meanwhile, prices in Alberta, Saskatchewan, Manitoba and Newfoundland and Labrador are forecast to remain stable from 2018 to 2019.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales fall in April

Canadian home sales fall in April

Ottawa, ON, May 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018.

Highlights:

  • National home sales fell 2.9% from March to April.
  • Actual (not seasonally adjusted) activity was down 13.9% from April 2017.
  • The number of newly listed homes declined 4.8% from March to April.
  • The MLS® Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y).
  • The national average sale price declined by 11.3% y-o-y in April.

National home sales via Canadian MLS® Systems declined by 2.9% in April 2018 to the lowest level in more than five years (Chart A). About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal.

Actual (not seasonally adjusted) activity was down 13.9% compared to April of last year and hit a seven-year low for the month. It also stood 6.9% below the 10-year average for the month. Activity was below year-ago levels in about 60% of all local markets, led overwhelmingly by the Lower Mainland of British Columbia and by markets in and around Ontario’s Greater Golden Horseshoe (GGH) region.

“The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment continued to cast its shadow over sales activity in April,” said CREA President Barb Sukkau. “Its impact on housing markets varies by region,” she added. “A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Sukkau.

“This year’s new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador Provinces,” said Gregory Klump, CREA’s Chief Economist. “This is exactly the type of collateral damage that CREA warned the government about. As provinces whose economic prospects have faced difficulties because they are closely tied to those of natural resources, it is puzzling that the government would describe the effect of its new policy as intended consequences.”

The number of newly listed homes declined 4.8% in April. Having reached a nine-year low for the month, new listings stood 12% below the 10-year monthly moving average.

With sales having fallen by less than new listings, the national sales-to-new listings ratio firmed slightly to 53.7% in April compared to 52.6% in March. The long-term average for the measure is 53.4%.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively; however, the range consistent with balanced market conditions varies at the local market level.

For that reason, considering the degree and duration that market balance readings are above or below their long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, about 60% of all local markets were in balanced market territory in April 2018.

The number of months of inventory is another important measure for the balance between housing supply and demand. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.6 months of inventory on a national basis at the end of April 2018, the highest level since September 2015. The long-term average for the measure is 5.2 months.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 1.5% y-o-y in April 2018. This marks one full year of decelerating y-o-y gains. It was also the smallest y-o-y increase since October 2009. (Chart B)

Decelerating y-o-y home price gains largely reflect trends among GGH housing markets tracked by the index. Home prices in the region have stabilized and have begun trending higher on a monthly basis; however, rapid price gains recorded one year ago have contributed to deteriorating y-o-y price comparisons.

Apartment units again posted the largest y-o-y price gains in April (+14.7%), followed by townhouse/row units (+6.5%). By contrast, one-storey and two-storey single family home prices were down (-1.1% and -4.8% y-o-y respectively).

With this release, housing market coverage for MLS® HPI now includes Barrie and District. Benchmark home prices in April were up from year-ago levels in 9 of the 15 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly in the second half of 2016 (Greater Vancouver (GVA): +14.3% y-o-y; Fraser Valley: +22.7% y-o-y). Apartment and townhouse/row units have been largely driving this regional trend while single family home prices in the GVA have stabilized. In the Fraser Valley, single family home prices have now also begun to rise.

Benchmark home prices continued to rise by about 14% on a y-o-y basis in Victoria and by about 20% elsewhere on Vancouver Island.

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+5.9%). By contrast, home prices in the Greater Toronto Area (GTA), Oakville-Milton and Barrie and District were down from where they stood one year earlier (GTA: -5.2% y-o-y; Oakville-Milton: -8.7% y-o-y; Barrie and District: -8.4% y-o-y). This reflects rapid price gains recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were again little changed on a y-o-y basis (Calgary: +0.1% y-o-y; Edmonton: -0.9% y-o-y), while prices in Regina and Saskatoon remained down from year-ago levels (-6.5% y-o-y and -3.4% y-o-y, respectively).

Benchmark home prices rose by 8.4% y-o-y in Ottawa (led by a 9.4% increase in two-storey single family home prices), by 6.3% in Greater Montreal (led by a 7.3% increase in two-storey single family home prices) and by 4.2% in Greater Moncton (led by a 5.6% increase in one-storey single family home prices). (Table 1)

The MLS® HPI provides the best way of gauging price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in April 2018 was just over $495,000, down 11.3% from one year earlier.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts more than $109,000 from the national average price to just under $386,100 and trims the y-o-y decline to 4.1%.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca