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Courtesy Of
Troy L Weber Of RE/MAX FIRST

$299,900 - 925 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4254530

Wow. This delightful family bungalow is spotlessly clean, is in immaculate condition, and stands unapproachably alone for location, condition and price!! At only 299,900 you get an amazing 925 sq ft updated home that features a spacious main floor family room w/ PICTURE WINDOW and NEWER CARPET, a fantastic kitchen w/ built-in pull-out drawers, ceramic flooring, conical skylight, an adjacent…
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Courtesy Of
Dixie L Hartell Of SATHER REAL ESTATE PRO BROKERS LTD.

$950,000

Beds
4
Baths
1.00

ACTIVE

Agri-Business

MLS® #C4254272

This 80 acre parcel has it all! -55 acres of permanent water rights with wheel move producing 3/ton acre on 1st cut -25 acres of pasture with 2 dugouts -80x140 indoor arena with 14x14 overhead door, 8x10 over head to cattle catch pens in rear. -40x60 attached horse barn with 8 box stalls w/waterers, wash bay, office and amazing tack…
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Courtesy Of
Bradley Walker Of REDLINE REAL ESTATE GROUP INC.

$359,900 - 1001 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4254539

This LUXURY Condo with DOUBLE UNDERGROUND PARKING will not disappoint! The Chateau 40+ ADULT LIVING complex is located in King's Heights just steps away from anything you need. This upscale unit has been fully upgraded with top of the line STAINLESS STEEL APPLIANCES, glass tile backsplash and 1 1/4" THICK QUARTZ COUNTERTOPS. Over 1000 Square Feet makes this condo very…
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Courtesy Of
Trenton Pittner Of LEGACY REAL ESTATE SERVICES

$250,000 - 761 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4254461

UPSCALE condo in the highly desirable Portico! Awesome 3rd floor unit with FANTASTIC COURTYARD VIEWS! 1 bedroom + Den + TITLED UNDERGROUND PARKING STALL + Additional storage unit. Greeted with a tiled entry & earth tone colors this single level unit is sure to impress. Cork flooring, 9' ceilings, 3-way fireplace & loads of windows allowing natural light to flood…
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Courtesy Of
Justin Havre Of RE/MAX FIRST

$650,000 - 1563 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4254563

If you are tired of the cookie cutter open concept homes, this is the place for you! 7.24 acres to enjoy riding horses, taking in the Mountain Views or just relaxing outdoors or in your hot tub. This great property offers both a double attached garage and double detached heated garage/workshop with 220V. Recently renovated & fully developed, this walk…
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Kevin MacMillan Of HOMELIFE CITYSCAPE REAL ESTATE

$689,900 - 2233 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4254016

Pride of ownership is evident in this beautifully renovated 4 bedroom home on a quiet cul-de-sac. The main features a new chefs kitchen w/ updated SS appliances, granite counters, huge island, plenty of built-ins & stunning hardwood floors. A great size eating area leads to a large multi-tiered deck, stone patio, professionally landscaped & very private yard; perfect for entertaining.…
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Courtesy Of
Laura O'Connell Of RE/MAX HOUSE OF REAL ESTATE

$799,900 - 1438 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4254617

Stunning completely renovated bungalow with wide plank wood floors. Large foyer with rock feature wall. Living room with fireplace and built ins. Gourmet kitchen with stainless steel appliances and new quartz countertops with massive island, built in wine rack with walk in pantry and eat in dining area. Huge master bedroom with spa like 4 piece ensuite with large glass…
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Drew Flemmer Of CENTURY 21 FOOTHILLS REAL ESTATE

$469,900 - 1107 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4254571

Located in a mature area, on a super quiet street, this yard is sure to impress. Recently refinished in and out with new fence, new decks, new sod, and a stone patio. The 24x26 garage barely makes a dent in this amazing yard that even has room to park a trailer or RV out back. Inside, an open concept main…
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Courtesy Of
Chad Kon Of RE/MAX FIRST

$449,900 - 1868 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4254488

**OPEN HOUSE - JUNE 22, 1-3PM**This FULLY DEVELOPED home is quietly located just a short walk to the BEACH CLUB, PARKS and 2 SCHOOLS, perfect for the growing family. Enter to the OPEN CONCEPT main floor featuring spacious living room with centre fireplace perfect for those cold winter nights. The large kitchen has an updated appliance package and ample counter…
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Courtesy Of
Natalie Berthiaume Of CIR REALTY

$225,000 - 1026 Sq.Ft

Beds
2
Baths
1.10

ACTIVE

Lowrise Apartment

MLS® #C4247469

Fantastic opportunity to own this well-appointed CORNER unit with SOUTH VIEWS & UNDERGROUND parking. Located in the 40+ amenity rich building of Chinook Manor, this is a rare unit that offers plenty of sunshine! You will feel safe & secure as you walk into the inviting lobby & then take the elevator (or stairs!) to the 3rd level. Walking in,…
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Courtesy Of
Derek Leippi Of 2% REALTY

$324,900 - 839 Sq.Ft

Beds
2
Baths
1.10

ACTIVE

Lowrise Apartment

MLS® #C4254179

Fantastic opportunity! It's not often units come available in the coveted Conservatory. For good reason - Location & Style simply can't be beat! Mere steps away from the restaurants and vibrant nightlife of 17th Ave, with a quick 15 min walk to the downtown core. This attractive 2 Story, 2 bedroom/1.5 bathroom unit ticks so many boxes. The main floor…
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Courtesy Of
Nick Barbu Of ROYAL LEPAGE BENCHMARK

$649,888 - 2135 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4254178

CHECK OUT this incredible 2 Storey home in the sought after community of Tuscany. Main level features an open floor layout, maple kitchen with matching hardwood floors, newer stainless steel appliances, gas fireplace in the living room, an office, and a dining room with gorgeous nature views. Upper level consists of a sunken bonus room, 4-pc bathroom, 2 bedrooms, and…
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Courtesy Of
Mike Freiter Of RE/MAX REAL ESTATE (CENTRAL)

$925,000 - 2740 Sq.Ft

Beds
5
Baths
2.10

ACTIVE

Detached

MLS® #C4254646

They just don’t build them like this anymore!!! Tremendous potential in this lovingly maintained, original-owner home tucked away in a quiet cul-de-sac in the established community of University Heights; steps to UofC & Hospitals. Situated on an oversized lot, this 1966-built, 2-storey, boasts over 4,000 sq.ft. of developed living space on 3-levels including FIVE bedrooms on the upper level &…
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Courtesy Of
Eric Drinkwater Of RE/MAX REAL ESTATE (CENTRAL)

$519,900 - 1904 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4254123

Stunning Former Trico Homes Showhome located in the community of Livingston with R-G Zoning. This two storey home features a main floor with 9ft ceilings, hardwood floors throughout, flex room/den, gourmet kitchen with stainless steel appliances including built in wall oven and microwave, and gas cooktop. Corner pantry, granite countertops, full height cabinetry and island with flush eating bar. Massive…
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Courtesy Of
Simon D Hunt Of RE/MAX HOUSE OF REAL ESTATE

$495,000 - 2057 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4254469

This GREAT FAMILY HOME is here for YOU! Over 3070 sq ft of LIVING SPACE, GREAT LANDSCAPING w/ESTABLISHED trees, EXUDES curb appeal w/WOOD SHINGLE detailing, NEW roof (2018 w/25 year transferrable WARRANTY!), attached DOUBLE garage, WELCOMING entrance w/VAULTED ceiling, STUNNING hardwood floors, lovely NEUTRAL tones, SPACIOUS Dining rm, Kitchen w/CORNER pantry, matching S.S. appl, TONS of COUNTER SPACE incl ISLAND…


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Canadian home sales rise again in May 2019

Canadian home sales rise again in May 2019

Ottawa, ON, June 14, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed further in May 2019.

Highlights:

  • National home sales rose 1.9% month-over-month (m-o-m) in May.
  • Actual (not seasonally adjusted) activity was up 6.7% year-over-year (y-o-y).
  • The number of newly listed homes edged back by 1.2% m-o-m.
  • The MLS® Home Price Index (HPI) fell 0.2% m-o-m in May, the fifth straight decline.
  • The actual (not seasonally adjusted) MLS® HPI stood 0.6% below May 2018.
  • The actual (not seasonally adjusted) national average sale price was up 1.8% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only just returned levels to their historical average. (Chart A)

While May sales were only up in half of all local markets, that list included almost all large markets, led by gains in both the Greater Vancouver (GVA) and Greater Toronto (GTA) areas.

Actual (not seasonally adjusted) sales activity was up 6.7% compared to May 2018, marking the largest y-o-y gain recorded since the summer of 2016. The increase returned sales in line with the 10-year average for the month of May. While about two-thirds of local markets posted y-o-y gains for the month, the national increase was dominated by improving sales trends in the GTA, which accounted for close to half of the overall increase.

“Home price trends and market balance continues to differ significantly among Canadian housing markets,” said Jason Stephen, CREA’s President. “All real estate is local. No matter where you are, a professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Stephen.

“The mortgage stress-test continues to present challenges for home buyers in housing markets where they have plenty of homes to choose from but are forced by the test to save up a bigger down payment,” said Gregory Klump, CREA’s Chief Economist. “Hopefully the stress-test can be fine tuned to enable home buyers to qualify for mortgage financing sooner without causing prices to shoot up.”

The number of newly listed homes edged back by 1.2% in May. With sales up and new listings down, the national sales-to-new listings ratio tightened to 57.4% in May compared to 55.7% in April. That said, the measure is still within close reach of its long-term average of 53.5%.

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, almost three-quarters of all local markets were in balanced market territory in May 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 5.1 months of inventory on a national basis at the end of May 2019, down from 5.3 in April and 5.6 months back in February. Like the sales-to-new listings ratio, the number of months of inventory is within close reach its long-term average of 5.3 months.

Housing market balance varies significantly by region. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers in those parts of the country ample choice. By contrast, the measure remains well below long-term averages for Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

MLS® HPI data are now available on a seasonally adjusted basis in addition to the actual (not seasonally adjusted) figures. On a seasonally adjusted basis, the Aggregate Composite MLS® HPI edged down 0.2% in May 2019 compared to April and stood 1.4% below the peak reached in December 2018.

Seasonally adjusted MLS® HPI readings in May were up from the previous month in 12 of the 18 markets tracked by the index; however, home price declines in the Lower Mainland of British Columbia contributed to the monthly decline in the overall index. Markets where prices rose in May from the month before include Victoria (0.5%), Edmonton (0.2%), Saskatoon (0.4%), Ottawa (0.7%), Niagara (0.2%), Oakville (0.8%), Guelph (0.5%), Barrie (3.6%), Montreal (0.5%) and Greater Moncton (0.5%), with gains of 0.1% in the GTA and Regina. By contrast, readings were down from the month before in the GVA (-1.0%), Fraser Valley (-1.1%), the Okanagan Valley (-1.3%), Calgary (-0.1%) and Hamilton (-0.7%), while holding steady on Vancouver Island outside Victoria.

The actual (not seasonally adjusted) Aggregate Composite MLS® Home Price Index (MLS® HPI) edged down by -0.6% y-o-y in May 2019. While small, it was nonetheless the largest decline in almost a decade. (Chart B)

All benchmark property categories tracked by the index posted y-o-y declines in May 2019. Townhouse/row and apartment unit prices were little changed from last May, edging back by just 0.2%. By comparison, two-storey single-family home prices were down 0.5% y-o-y and one-storey single-family home prices fell 1.7% y-o-y.

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 the GVA (-8.9%), the Fraser Valley (-5.9%) and the Okanagan Valley (-0.7%). Meanwhile, prices edged up 1% in Victoria and climbed 4.7% 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 (+5.7%), the Niagara Region (+5.4%), Hamilton-Burlington (+3.4%), Oakville-Milton (+3.4%) and the GTA (+3.1%). 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 4.3% in Calgary, 3.6% in Edmonton, 3.9% in Regina and 1.3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 8% y-o-y in Ottawa (led by a 12.2% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 7.6% increase in apartment unit prices), and 2% in Greater Moncton (led by a 15.9% 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 May 2019 was close to $508,000, up 1.8% from the same month in 2018.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $111,000 from the national average price, trimming it to just under $397,000.

– 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 130,000 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




Quarterly Forecasts

Quarterly Forecasts

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 14, 2019 – 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 2019 and 2020.

Many of the economic fundamentals that support housing activity remain strong outside of the Prairies as well as Newfoundland and Labrador. Following the release of CREA’s previous forecast in March, population and employment growth has remained strong and the unemployment rate has fallen further. Additionally, the Bank of Canada is widely expected to not raise interest rates over the rest of the year.

Budget 2019 also raised the maximum individual withdrawal limit under the Home Buyers’ Plan (HBP) from $25,000 to $35,000 and introduced the First Time Homebuyer Incentive, a shared equity program whereby the federal government finances a portion of a home purchase in exchange for an equity share in the home’s value. The increased HBP withdrawal limit took effect in late March, while the First Time Homebuyer Incentive is slated to launch in September.

These factors are expected to support to the beginnings of a recovery in home sales over the second half of 2019 after starting this year on a weak footing. Nonetheless, the overall level of sales is expected to remain well below where it was in recent years, as successive policy changes  – most notably the implementation of the B-20 stress test – continue to limit access to mortgage financing and dampen housing market sentiment. This is particularly the case in pricier areas where younger buyers have had little choice but to borrow more to get into the market.

National home sales are now projected to edge up 1.2% to 463,000 units in 2019. CREA’s previous forecast estimated a decline of 1.6% this year. This would still leave annual sales below the 10-year average and a far cry from the annual record set in 2016, when almost 540,000 homes traded hands. On a per capita basis, the forecast for 2019 would remain effectively tied with 2018 for the weakest year since 2001.

British Columbia is the only province expected to weigh materially on national figures in 2019, with a decline of 13.3% compared to 2018, marking a small upward revision from the previously forecast decline of 14.9%. Other revisions from the previous forecast for sales in 2019 were also upward, with Alberta moving from a 5.6% decline to a 0.9% decline, and Ontario’s gain upgraded from 0.9% previously to 3.9%.

Quebec and New Brunswick are still forecast to see the biggest sales gains in percentage terms in 2019 (+7.7% and +10.6%, respectively), with both provinces on track to set new annual records. Sales in Saskatchewan and Newfoundland and Labrador are forecast to improve by almost 5%, albeit from the lowest levels in more than a decade recorded last year. Meanwhile, activity in Manitoba and Nova Scotia is forecast to rise between 3.5% and 4.5% to near-record annual levels.

The national average price is still projected to stabilize (-0.6%) at around $485,000 in 2019 following the 4.1% drop recorded in 2018, which was the largest in almost 25 years. This reflects a stark and growing split between Eastern and Western regions. In line with the balance between supply and demand across the country, average prices are forecast to fall in 2019 in British Columbia, Alberta, Saskatchewan, and rise in Ontario, Quebec and the Maritimes. The average price is also expected to fall for the fifth consecutive year in Newfoundland and Labrador.

Sales are forecast to continue to improve in 2020. Absent the weak start experienced in 2019, national home sales are forecast to rise 4.4% to 483,200 units as interest rates remain near current levels and potential home buyers continue to adjust and adapt to the assortment of recent policy changes. Almost all provinces are forecast to see more sales in 2020 compared to 2019, with gains ranging from 1% to 6%.

That said, the big picture is that sales are expected to remain historically weak in British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador, historically strong in Quebec, New Brunswick, Manitoba and Nova Scotia, and come in close to the 10-year average in Ontario.

The national average price is forecast to edge up by 0.9% to around $490,000 in 2020. Average price trends across Canada in 2020 are generally expected to be more moderate versions of those in 2019, with small declines in British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador, and modest gains in all provinces from Manitoba through the Maritimes.

– 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 130,000 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 rise in April 2019

Canadian home sales rise in April 2019

Ottawa, ON, May 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed in April 2019.

Highlights:

  • National home sales improved by 3.6% month-over-month (m-o-m) in April.
  • Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y).
  • The number of newly listed homes climbed 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.3% y-o-y in April.
  • The national average sale price edged up 0.3% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 3.6% m-o-m in April 2019. After having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018. (Chart A)

April sales were up in about 60% of all local markets, with the Greater Toronto Area (GTA) accounting for over half of the national gain.

Actual (not seasonally adjusted) sales activity was up 4.2% y-o-y in April (albeit from a seven-year low for the month in 2018), the first y-o-y gain since December 2017 and the largest in more than two years. The increase reflects gains in the GTA and Montreal that outweighed declines in the B.C. Lower Mainland.

“Housing market trends are improving in some places and not so much in others,” said Jason Stephen, CREA’s President. “All real estate is local. No matter where you are, a professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Stephen.

“Sales activity is stabilizing among Canada’s five most active urban housing markets,” said Gregory Klump, CREA’s Chief Economist. “That list no longer includes Greater Vancouver, which fell out of the top-five list for the first time since the recession and is well into buyers’ market territory. Sales there are still trending lower as buyers adjust to a cocktail of housing affordability challenges, reduced access to financing due to the mortgage stress-test and housing policy changes implemented by British Columbia’s provincial government,” said Klump.

The number of newly listed homes rose 2.7% in April, building on March’s 3.4% increase. New supply rose in about 60% of all local markets, led by the GTA and Ottawa.

With sales up by more than new listings in April, the national sales-to-new listings ratio tightened marginally to 54.8% from 54.3% in March. This measure of market balance has 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, about three-quarters of all local markets were in balanced market territory in April 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 5.3 months of inventory on a national basis at the end of April 2019, down from 5.6 and 5.5 months in February and March respectively and in line with the long-term average for this measure.

Housing market balance varies significantly by region. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers there ample choice. By contrast, the measure remains well below long-term averages in Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) appears to be stabilizing, having edged lower by 0.3% y-o-y in April 2019. (Chart B)

Among benchmark property categories tracked by the index, apartment units were again the only one to post a y-o-y price gain in April 2019 (0.5%), while two-storey single-family home and townhouse/row unit prices were little changed from April 2018 (-0.3% and -0.2%, respectively). By comparison, one-storey single-family home prices were down by -1.4% y-o-y.

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 (GVA; -8.5%) and the Fraser Valley (-4.6%), up slightly in the Okanagan Valley (1%) and Victoria (0.7%), while climbing 6.2% 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 the Niagara Region (6.2%), Guelph (5.1%), Hamilton-Burlington (4.6%) the GTA (3.2%) and Oakville-Milton (2.5%). By contrast, home prices in Barrie and District held below year-ago levels (-5.3%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.6% in Calgary, 4% in Edmonton, 4.3% in Regina and 1.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 7.8% y-o-y in Ottawa (led by an 11% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 7.8% increase in apartment unit prices), and 1.8% in Greater Moncton (led by an 11.5% 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 April 2019 was close to $495,000, up 0.3% from the same month in 2018.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most expensive housing markets. Excluding these two

markets from calculations cuts almost $104,000 from the national average price, trimming it to just over $391,000.

– 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 130,000 REALTORS® working through 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