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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Margaret Hamilton Of SUTTON GROUP CANWEST

$319,900 - 689 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4241186

Stunning TOP FLOOR SOUTH EXPOSURE unit in desirable Xolo! This represents THE best in Mission living with over $35,000 in recent renovations! This vast reno includes a fully renovated kitchen, increasing the size significantly, with porcelain tile flooring, quartz countertops, new cabinets with soft close, back splash, Samsung high end appliance package [including washer and dryer]. The stunning new bath…
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Courtesy Of
John Wiebe Of THE REAL ESTATE COMPANY

$119,900 - 1048 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Detached

MLS® #C4241184

This is a project house - partially finished - bring your contractor - on the south side of Lomond. Great location for the quiet small town lifestyle. Boating and fishing nearby.
Active

Courtesy Of
Joy Peacock Of RE/MAX REAL ESTATE (CENTRAL)

$649,900 - 1790 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4241420

FABULOUS RENOVATION in Sought-after Strathcona! This gorgeous open-concept home is steps from the highly-rated public & separate schools! Enveloped in the privacy of the pie lot with trees, this home boasts: New Kitchen, Quartz Countertops, Stainless Steel Appliances, New Wide Plank flooring (with 25 year warranty), new baseboards / trim, new paint throughout, new 50 year shingles on roof (with…
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Courtesy Of
Tim Lind Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$473,800 - 1923 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4239642

This former showhome by Pacesetter Homes is loaded with upgrades/features including hardwood, quartz countertops, tile, 9' ceilings on main, Air Conditioning, built in speakers, and fully finished garage. Main floor offers spacious entry, mud room, 1/2 bath and kitchen with full height cabinets, pantry with glass door, large family room with gas fireplace featuring stacked stone surround and nook with…
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Courtesy Of
Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$373,900 - 1220 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4241119

Fantastic opportunity to make your home in this lovely two storey by Homes By Avi in the popular Symon's Valley community of Nolan Hill. This bright & spacious, one-owner home has hardwood floors, designer kitchen with granite counters & low-maintenance landscaping. Expansive open concept main floor with large living room, generous dining area & sunny kitchen with island & pantry,…
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Courtesy Of
Sam Olschewski Of RE/MAX FIRST

$450,000 - 1629 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4238180

This immaculate corner unit in Aspen Woods is ready for you to move in! Boasting over 1600 square feet, this 3-bedroom home has an open floor plan with hardwood throughout the main, a 3-sided fireplace to separate the living & dining areas, and spacious kitchen with raised breakfast bar, granite counters & stainless steel appliances. Patio doors open to the…
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Courtesy Of
Ying Xin Sun Of HOMECARE REALTY LTD.

$230,000 - 928 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Row House

MLS® #C4241259

Immaculate condo located in wonderful community! Over 1300sqft living space boast 3 good sized bedrooms upstairs with a full bath. Bright kitchen, dining room and living room on main floor and fully developed basement with a 3 pieces bathroom. Walking distance to C-Train station and shopping centre. 10 minutes driving to Market Mall, Foothills Hospital and Children's Hospital. Very easy…
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Courtesy Of
Chris Doehner Of MAXWELL SOUTH STAR REALTY

$199,000 - 5009 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4223453

This is a gorgeous, well-located pub premises on a busy street with lots of traffic by the door. Lots of local clientele. There are 2 separate areas which offer different configurations for private functions; paint nights; comedy night or other activities. Very high level of finishing and attention to detail throughout the facility as over $1.5M was originally spent to…
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Courtesy Of
Ashley Doull Of CIR REALTY

$788,000 - 1926 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4241403

Open House Saturday April 27th 1-4 pm. Beautiful, upgraded home that shows like new. Open concept featuring glass railings, gas fireplace with floor to ceiling stone face, gleaming hardwood floors, and pot lights throughout. Gourmet kitchen offers a gas stove top, custom floor to ceiling cabinets, and granite countertops. Upstairs features multi purpose den with built in and laundry room…
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Courtesy Of
Davinder Brar Of CIR REALTY

$424,900 - 2494 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4241404

Amazing new 2450 sq/ft plus 2 storey home on a huge 140ft plus deep lot. Bright and open floor floor plan on a big lot with huge triple garage perfect for pick ups. Home has with custom cabinetry, engineered laminate floors and 2 gas fireplace places with stone surround. Main floor features an open to below entry, mud room, walk…
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Courtesy Of
Santanna Thom Of CENTURY 21 FOOTHILLS REAL ESTATE

$244,900 - 1410 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4241445

Small town living in the perfect home. Bright and sunny from the moment you arrive. Large living room with bay window, great sized kitchen and dining room space, main floor laundry, 4p main bath, 2 large bedrooms, master suite is complete with double closets and 3pc ensuite. Large basement ready to complete to your liking. Back entry to your covered…
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Courtesy Of
Raman Chahal Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$295,000 - 1380 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4238321

Introducing the "Ferrera" crafted & built in Savanna by multi-award winning builder Rohit Communities. The Ferrera is an ambitiously designed home that exemplifies modern lifestyles. The home has been designed to be highly functional with its open concept to provide maximum usable living space at a minimal cost. Stepping in through the single attached garage will place you right in…
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Courtesy Of
Chris Mooney Of FSBO REAL ESTATE

$449,901 - 1088 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4241332

For more information about this listing, please click the "Brochure" button below. Completely renovated 4 level split in one of Okotoks best areas! Renovated extensively inside and out with over $60,000.00 spent in renovations. Renovations include, new kitchen, quartz countertops, appliances, bathroom, 3/4 inch maple hardwood throughout, paint, windows, exterior/interior doors, furnace, hot water tank, water softener, electrical, lighting, insulation,…
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Courtesy Of
Anni Jansson Of RE/MAX HOUSE OF REAL ESTATE

$292,900 - 1214 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4241017

Stunning new home built by Genesis is perfect for the first time home buyers or down-sizers! This three bedroom, home features a well designed sunny open concept with premium vinyl plank flooring and carpet . The kitchen boasts stainless steel appliances, beautiful honeycomb tile back splash and quartz counter tops as well as plenty of storage and counter space. The…
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Courtesy Of
Toni Marcia Zihove Of RE/MAX HOUSE OF REAL ESTATE

$289,900 - 1280 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4241354

*OH SAT APR 27: 12-3pm* This modern townhome is located around the corner to schools, parks & amenities & best of all has NO CONDO FEES! W/ 2 beds, 2.5 baths & one of the largest balconies in the complex, this unit shows like new & features fresh paint, new carpet & oversized windows throughout. The main floor features hwd…


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Canadian home sales edge higher in March 2019

Canadian home sales edge higher in March 2019

Ottawa, ON, April 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged higher in March 2019 after having declined sharply the previous month.

Highlights:

  • National home sales edged up 0.9% month-over-month (m-o-m) in March.
  • Actual (not seasonally adjusted) activity was down 4.6% year-over-year (y-o-y).
  • The number of newly listed homes rose 2.1% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.5% y-o-y in March.
  • The national average sale price fell 1.8% y-o-y.

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years. (Chart A)

There was an even split between the number of markets where sales rose from the previous month and those where they waned. Among Canada’s larger cities, activity improved in Victoria, the Greater Toronto Area (GTA), Oakville-Milton and Ottawa, whereas it declined in Greater Vancouver, Edmonton, Regina, Saskatoon, London and St. Thomas, Sudbury and Quebec City.

Actual (not seasonally adjusted) sales activity fell 4.6% y-o-y to the weakest level for the month since 2013. It was also almost 12% below the 10-year average for March. That said, in British Columbia, Alberta and Saskatchewan, sales were more than 20% below their 10-year average for the month. By contrast, activity is running well above-average in Quebec and New Brunswick.

“It will be some time before policy measures announced in the recent Federal Budget designed to help first-time homebuyers take effect,” said Jason Stephen, CREA’s President. “In the meantime, many prospective homebuyers remain sidelined by the mortgage stress-test to varying degrees depending on where they are looking to buy. 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,” added Stephen.

“March results suggest local market trends are largely in a holding pattern,” said Gregory Klump, CREA’s Chief Economist. “While the mortgage stress test has made access to home financing more challenging, the good news is that continuing job growth remains supportive for housing demand and should eventually translate into stronger home sales activity pending a reduction in household indebtedness,” he added.

The number of newly listed homes rose 2.1% in March. New supply rose in about two-thirds of all local markets, led by Winnipeg, Regina, Victoria and elsewhere on Vancouver Island. By contrast, new listings declined in the GTA, Ottawa and Halifax-Dartmouth.

With new listings having improved more than sales, the national sales-to-new listings ratio eased to 54.2% from 54.9% in February. This measure of market balance has largely remained close to its long-term average of 53.5% since early 2018.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best 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 the long-term average, two-thirds of all local markets were in balanced market territory in March 2019.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. 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 March 2019, in line with the February reading and one of the highest levels for the measure in the last three-and-a-half-years. Still, it is only slightly above its long-term average of 5.3 months.

Housing market balance varies significantly by region. The number of months of inventory has swollen far above its long-term average in Prairie provinces and Newfoundland & Labrador; as a result, homebuyers there have an ample choice of listings available for purchase. By contrast, the measure remains well below its long-term average in Ontario and the Maritime provinces.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) declined by 0.5% y-o-y in March 2019. It last posted a y-o-y decline of similar magnitude in September 2009. (Chart B)

Among benchmark property categories tracked by the index, apartment units were the only one to post a y-o-y price gain in March 2019 (+1.1%), while townhouse/row unit prices were little changed from March 2018 (-0.2%). By comparison, one and two-storey single-family home prices were down by 1.8% and 0.8% y-o-y respectively.

As of this release, the MLS® HPI now includes home sales via Okanagan-Mainline Real Estate Board’s MLS® System, which covers communities in the Okanagan Valley from Revelstoke to the Peachland region.

Trends continue to vary widely among the 18 housing markets tracked by the MLS® HPI. Results remain mixed in British Columbia, with prices down on a y-o-y basis in Greater Vancouver (-7.7%) and the Fraser Valley (-3.9%). Prices also dipped slightly below year-ago levels in the Okanagan Valley (-0.8%). By contrast, prices rose by 1% in Victoria and by 6.4% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.6%), the Niagara Region (+6.0%), Hamilton-Burlington (+3.7%) the GTA (+2.6%) and Oakville-Milton (+2.3%). By contrast, home prices in Barrie and District held below year-ago levels (-6.1%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.9% in Calgary, 4.4% in Edmonton, 4.6% in Regina and 2.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply become more balanced.

Home prices rose 7.6% y-o-y in Ottawa (led by a 10.4% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by an 8.1% increase in apartment unit prices) and 2.1% in Greater Moncton (led by a 12.9% increase in apartment unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, as averages 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 March 2019 was $481,745, down 1.8% from the same month in 2018.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts close to $100,000 from the national average price, trimming it to just under $383,000.

– 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




Canadian home sales drop sharply in February 2019

Canadian home sales drop sharply in February 2019

Ottawa, ON, March 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales dropped sharply from January to February 2019.

Highlights:

  • National home sales plummeted 9.1% month-over-month (m-o-m) in February.
  • Actual (not seasonally adjusted) activity was down 4.4% year-over-year (y-o-y).
  • The number of newly listed homes fell 3.2% m-o-m.
  • The MLS® Home Price Index (HPI) was virtually unchanged (-0.1% y-o-y).
  • The national average sale price fell by 5.2% y-o-y.

Home sales via Canadian MLS® Systems plunged 9.1% m-o-m in February 2019 to the lowest level since November 2012. The month-over-month decline was the largest recorded since the B-20 stress test came into effect in January of last year. (Chart A)

The number of homes trading hands was down from the previous month in three-quarters of all local markets, including all major cities.

Actual (not seasonally adjusted) sales activity was down 4.4% to reach the lowest level for month of February since 2009. It was also almost 12% below the 10-year February average. In British Columbia, Alberta as well as Newfoundland and Labrador, sales were more than 20% below their 10-year average for the month.

“For aspiring homebuyers being kept on the sidelines by the mortgage stress-test, it’s a bitter pill to swallow when policy makers say the policy is working as intended,” said Barb Sukkau. “Fewer qualified buyers means sellers are affected too. The impact of tighter mortgage regulations differs by local housing market and a professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

“February home sales declined across a broad swath of large and smaller Canadian cities,” said Gregory Klump, CREA’s Chief Economist. “The housing sector is on track to further reduce waning Canadian economic growth. Only time will tell whether successive changes to mortgage regulations went too far, since the impact of policy decisions becomes apparent only well after the fact. Hopefully policy makers are thinking about how to fine tune regulations to better keep housing affordability within reach while keeping lending risks in check.”

The number of newly listed homes declined by 3.2% in February, led by GTA regional municipalities that surround the City of Toronto, in addition to Hamilton-Burlington, Calgary, Edmonton and Winnipeg.

With sales down by more than new listings in February, the national sales-to-new listings ratio eased to 54.1% compared to 57.6% in January. Looking beyond its monthly volatility, this measure of market balance has remained close to the long-term average of 53.5% since early 2018.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best 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 the long-term average, about 70% of all local markets were in balanced market territory in February 2019.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. 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 February 2019, a three-and-a-half-year high and a little above its long-term average of 5.3 months. That said, there are significant regional differences. The number of months of inventory has swollen far above its long-term average in Prairie provinces and Newfoundland & Labrador; as a result, homebuyers there have an ample choice of listings available for purchase. By contrast, the measure remains well below its long-term average in Ontario and the Maritimes.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was little changed (-0.1%) y-o-y in February 2019. That said, it still marked the first decline in almost a decade (Chart B).

Apartment units recorded a y-o-y price increase of 2.4% in February, while townhouse/row unit prices were up 1%. By comparison, one and two-storey single-family home prices were down 1.7% and 1% y-o-y in February.

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Results remain mixed in British Columbia, with prices down on a y-o-y basis in Greater Vancouver (-6.1%) and the Fraser Valley (-2.8%). By contrast, prices posted a y-o-y increase of 3% in Victoria and were up 7.7% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.8%), the Niagara Region (+6.5%), Hamilton-Burlington (+5%) and the GTA (+2.3%). By contrast, home prices were little changed (+0.2%) on a y-o-y basis in Oakville-Milton, while in Barrie and District prices remain below year-ago levels (-4.3%).

Across the Prairies, supply is historically elevated relative to sales and home prices are down from year-ago levels. Benchmark prices were down by 4.4% in Calgary, 4.5% in Edmonton, 5.1% in Regina and 3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply come back into better balance.

Home prices rose 7.4% y-o-y in Ottawa (led by a 10.8% increase in townhouse/row unit prices), 6.2% in Greater Montreal (led by a 7.8% increase in apartment unit prices) and 1.6% in Greater Moncton (led by a 7.9% increase in townhouse/row unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, as averages 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 February 2019 was $468,350, down 5.2% from the same month in 2018.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts close to $100,000 from the national average price, trimming it to just under $371,000.

– 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




Canadian home sales improve in January 2019

Canadian home sales improve in January 2019

Ottawa, ON, February 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales in January 2019 were up from the previous month but remained below levels recorded one year ago.

Highlights:

  • National home sales rose 3.6% between December 2018 and January 2019.
  • Actual (not seasonally adjusted) activity was down by 4% from one year ago.
  • The number of newly listed homes edged up 1% month-over-month in January.
  • The MLS® Home Price Index (HPI) rose 0.8% year-over-year (y-o-y) in January.
  • The national average sale price fell by 5.5% y-o-y in January.

Home sales via Canadian MLS® Systems climbed 3.6% in January 2019 compared to December 2018 (Chart A). The number of homes trading hands was up from the previous month in half of all local markets, led by Montreal, Ottawa and Winnipeg.

Actual (not seasonally adjusted) were down 4% from year-ago levels and turned in the weakest January since 2015. They also came in below the 10-year average for the month on a national basis and in Canada’s three westernmost provinces, Ontario and Newfoundland & Labrador.

“Homebuyers are still adapting to tightened mortgage regulations brought in last year, “said CREA President Barb Sukkau. “However, their impact on homebuyers varies by location, housing type and price segment. All real estate is local. A professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

“Sales, market balance and home price trends are out of synch among major Canadian cities that have the greatest impact on national results,” said Gregory Klump, CREA’s Chief Economist. “It’s clear that housing market conditions remain weaker in the Prairie region and the Lower Mainland of British Columbia. Notwithstanding the intended consequences, tighter mortgage regulations that took effect in 2018 combined with previous tightening will weigh on economic growth this year.”

The number of newly listed homes edged up 1% in January, led by a jump in new supply in Greater Vancouver and Hamilton-Burlington.

With sales up by more than new listings, the national sales-to-new listings ratio tightened to 56.7% compared to 55.3% posted in December. This measure of market balance has remained close to its long-term average of 53.5% for the last year.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best 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 the long-term average, more than half of all local markets were in balanced market territory in January 2019.

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

There were 5.3 months of inventory on a national basis at the end of January 2019, in line with its long-term average. That said, the well-balanced national reading masks significant regional differences. The number of months of inventory has swollen far above its long-term average in Prairie provinces and Newfoundland & Labrador; as a result, homebuyers there have an ample choice of listings available for purchase. By contrast, the measure remains well below its long-term average in Ontario and Prince Edward Island, consistent with seller’s market conditions. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 0.8% y-o-y in January 2019 – the smallest increase since June 2018 (Chart B).

Apartment units recorded the largest y-o-y price increase in January (+3.3%), followed by townhouse/row units (+1.5%). By comparison, two-storey single-family home prices were little changed (+0.1%) while one-storey single-family home prices edged down (-1.1%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Results were mixed in British Columbia. Prices were down on a y-o-y basis in Greater Vancouver (-4.5%) and the Fraser Valley (-0.8%). By contrast, prices posted a y-o-y increase of 4.2% in Victoria and were up 9.3% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+7.2%), the Niagara Region (+7%), Hamilton-Burlington (+5%), Oakville-Milton (+3.9%) and the GTA (+2.7%). By contrast, home prices in Barrie and District remain below year-ago levels (-2.7%).

Across the Prairies, supply is historically elevated relative to sales, causing benchmark home prices to remain down from year-ago levels in Calgary (-3.9%), Edmonton (-2.9%), Regina (-3.8%) and Saskatoon (-2%). The home pricing environment will likely remain weak in these cities until elevated supply is reduced.

Home prices rose 7.1% y-o-y in Ottawa (led by a 9.5% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 9.2% increase in townhouse/row unit prices) and 1% in Greater Moncton (led by a 15.1% increase in townhouse/row unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends, as averages 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 January 2019 was

just under $455,000, down 5.5% from the same month in 2018 and marking the biggest year-over-year decline since May 2018.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $95,000 from the national average price, trimming it to just over $360,000.

– 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