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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Sam Patel Of RE/MAX HOUSE OF REAL ESTATE

$939,900 - 2347 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4226896

Here is a incredible home with great value offering 3175 Sq Ft of Living Space! This 3 Storey home is an entertainers dream with an open Main floor layout, soaring 18 ft open ceiling, huge windows and a featured stoned wall with a wide ribbon Gas Fireplace. The Kitchen is finished in Custom Cabinetry, full All Fridge, separate All Freezer,…
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Courtesy Of
Ben Maize Of MAXWELL SOUTH STAR REALTY

$349,900 - 718 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4227025

Excellent opportunity to get in to the condo market with this large, 2 bedroom + 2 bath condo at the Windtower. This west facing unit has incredible views and gets tons of natural light. The functional floorplan has an open kitchen/living area that divides the two bedrooms for additional privacy. Underground parking, a generously sized balcony and in-suite laundry checks…
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Courtesy Of
Shawn Kennedy Of RE/MAX REALTY PROFESSIONALS

$224,900 - 965 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4226993

Calling all First Time Home Owners and Investors! Welcome to this RENOVATED, 2 BEDROOM, 2 BATHROOM, 3rd FLOOR CORNER UNIT with unobstructed & clear views to the east featuring spectacular sunrises. This Light & Bright Corner Unit offers one of the Largest and most Open Concept Floor Plans in the complex with Beautiful Laminate Flooring running throughout the Dining and…
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Courtesy Of
Brad Van De Walle Of RE/MAX REAL ESTATE (CENTRAL)

$689,900 - 1245 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4226530

Beautiful, fully renovated bungalow in highly sought after Glendale. This 1245 sq/ft home has 3 bedrooms up and 1 bedroom with en-suite down. The custom cabinetry and commercial grade stove is high end and contribute to a functional and luxurious feeling kitchen. There is little to upgrade as the attention to detail in renovations is top notch. A fireplace on…
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Courtesy Of
Bruce Alexander Of ROYAL LEPAGE SOLUTIONS

$139,900 - 627 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4226982

Come see this wonderful 1 bedroom condo under $140,000. This unit features a well laid out floorplan with living room, dining room, bright kitchen, large bedroom,4 piece bathroom, insuite laundry and storage room. Large private balcony off the living room. Centrally located close to several main roads. This complex has a strong reserve fund. Great opportunity for the first time…
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Courtesy Of
Adam Spencer Robinson Of CIR REALTY

$659,900 - 1466 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Detached

MLS® #C4226969

A truly wonderful 2 bedroom Bungalow in the heart of Cranston's Riverstone. Just off the Bow River, parks and pathways this lovely home is perfectly situated on a quiet street. With nearly 1500 sqft of open concept main floor living this home has it all. The most dramatic of features is the Vaulted ceiling spanning the length of the main…
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Courtesy Of
Steven C Harris Of CIR REALTY

$499,900 - 1453 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4226869

WELCOME to 124 Coopers Heights! Nestled on a quiet cul-de-sac in the Award Winning Community of COOPERS CROSSING, this FABULOUS 5 bedroom BUNGALOW with a FULLY FINISHED WALKOUT BASEMENT boasts over 2600 sq ft of developed living space on 2 levels. As you enter the spacious front foyer you immediately sense that this home has been well looked after with…
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Courtesy Of
Michael R Laprairie Of JAYMAN REALTY INC.

$359,900 - 1233 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4227134

A Quiet Blend of Charm and spaciousness lends a feeling of total perfection to this wonderful Former Show home by Jayman BUILT in the community of Reunion. With over 1232 sq. ft. of PINTEREST quality living space...You'll definitely be Happy here! This fine home features a main floor Great room offering a gas fireplace with custom tiles and wood mantel.…
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Courtesy Of
Robert F Stevens Of RE/MAX ALPINE REALTY

$935,000 - 1418 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Semi Detached

MLS® #C4227127

Located in exclusive Silvertip, in a quiet cul-de-sac, backing onto the 3rd fairway of Silvertip Golf Course, sits this beautiful, well-appointed half duplex. This 4 bedroom, 3 bath property offers open concept, one level living, centered around a rock fireplace in the living room under vaulted ceilings, spacious kitchen with granite countertops, & plenty of space for family gatherings. Enjoy…
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Courtesy Of
Jaison J Thomas Of CIR REALTY

$349,000 - 1137 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Office

MLS® #C4227031

Welcome to Destination Pointe in Royal Vista! Complex features retail units on the main floor and office units on the second floor. Large windows and high ceilings and elevator access. This second floor unit can be used for a wide variety of uses. Stop paying rent and finally own! Possession can be immediate. Usable square footage is 1137 square feet.…
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Courtesy Of
Aman S Gill Of CENTURY 21 BRAVO REALTY

$599,000 - 2316 Sq.Ft

Beds
6
Baths
3.10

ACTIVE

Detached

MLS® #C4227028

It's A Great Location In The Heart Of Saddleridge. - GRANITE Counter Tops - STAINLESS STEEL APPLIANCES-Front Loaded WASHER And DRYER. Welcome To The Prestige Community Of Saddleridge NE. This House Offers You With 6 Bedrooms And 3.5 Bathrooms And A Very Big Bonus Area . Dining Area Is A Very Good Size.Basement Is Fully Finished With (The Illegal Suite…
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Courtesy Of
Simone Rousseau Of EXP REALTY

$684,900 - 1355 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4227026

This updated Hillhurst home is centrally located adjacent to Memorial Drive siding directly on to a greenspace and offers a 22 minute walk to central downtown! Carefully designed to offer natural sunlight in the main living spaces and bedrooms away from the road PLUS a zen-garden and a dream garage with EPOXY coated flooring and built-in cabinetry. Updated kitchen with…
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Courtesy Of
John Hripko Of ROYAL LEPAGE BENCHMARK

$539,900 - 2031 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226874

Wow! Cedarglen’s Huxley 24 will exceed your expectations! This brand new home features an open concept floor plan with 9’ knock down ceilings, triple glazed windows, 8’ interior/exterior doors and luxury vinyl plank flooring. The kitchen boasts quartz countertops, upgraded full height two-toned cabinetry and a $6900 appliance package. Main floor also features the dining area, great room w/electric fireplace,…
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Courtesy Of
Payam Motamedi Of RE/MAX IREALTY INNOVATIONS

$199,900 - 1190 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4226555

OPEN HOUSE SATURDAY FEB 23, 2 to 4 pm. HANDYMAN SPECIAL! Do your own renovations to make a great home and save. INCREDIBLE VALUE for these 3 bedroom townhomes. Some moderate cosmetic renovations will turn this into the home of your dreams. These units were previously rented for $1,400 a month. Other features include large kitchen with breakfast nook, living…
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Courtesy Of
Melanie Asplund Of CENTURY 21 WESTCOUNTRY REALTY LTD.

$179,999 - 1533 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4227088

HOME IS WHERE YOUR STORY BEGINS...and your STORY BEGINS RIGHT HERE! This home features a large sunken living room with beautiful new ceiling fan and custom blinds. The kitchen has tons of cupboard space including a pantry. 3 Bedroom and not just the main 4 piece bathroom, but also includes a 3 piece ensuite just for you. Have a home…


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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




Canadian home sales fall further in December

Canadian home sales fall further in December

Ottawa, ON, January 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted a fourth-straight monthly decline in December 2018.

Highlights:

  • National home sales fell 2.5% from November to December.
  • Actual (not seasonally adjusted) activity was down by 19% from one year ago.
  • The number of newly listed homes was little changed from November to December.
  • The MLS® Home Price Index (HPI) was up 1.6% year-over-year (y-o-y) in December.
  • The national average sale price fell by 4.9% y-o-y in December.

Home sales via Canadian MLS® Systems fell by 2.5% in December 2018 compared to November, capping the weakest annual sales since 2012. Monthly declines in activity since September have fully retrenched its summer rally and returned it near the lowest level since early 2013.

Transactions declined in about 60% of all local markets in December, led by lower activity in Greater Vancouver, Vancouver Island, Ottawa, London & St. Thomas, and Halifax-Dartmouth, together with a regionally diverse mix of other large and medium sized urban centres.

Actual (not seasonally adjusted) activity was down 19% y-o-y in December 2018 and stood almost 12% below the 10-year average for the month of December. Sales were down from year-ago levels in three-quarters of all local markets, led overwhelmingly by the Lower Mainland of British Columbia, the Okanagan Region, Calgary, Edmonton, the Greater Toronto Area and Hamilton-Burlington.

This decline, in part, is due to elevated activity posted in December 2017 as home buyers rushed to purchase in advance of the new federal mortgage stress test that came into effect on January 1, 2018.

“What a difference a year makes,” said CREA President Barb Sukkau. “Sales trends were pushed higher in December 2017 by home buyers rushing to purchase before the new federal mortgage stress-test took effect at the beginning of 2018. Since then, the stress-test has weighed on sales to varying degrees in all Canadian housing markets and it will continue to do so this year. 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.

“The Bank of Canada recently said that it expects housing activity will stay ‘soft’ as households ‘adjust to the mortgage stress-test and increases in mortgage rates,’ even as jobs and incomes continue growing,” said Gregory Klump, CREA’s Chief Economist. “Indeed, the Bank’s economic forecast shows it expects housing will undermine economic growth this year as the mortgage stress test has pushed home ownership affordability out of reach for some home buyers,” he added.

The number of newly listed homes remained little changed (+0.2%) from November to December, with declines in close to half of all local markets offset by gains in the remainder.

With sales down and new listings steady in December, the national sales-to-new listings ratio eased to 53.3% compared to 54.8% in November. This measure of market balance has remained close to its long-term average of 53.5% since the beginning of 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 two-thirds of all local markets were in balanced market territory in December 2018.

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 5.6 months of inventory on a national basis at the end of December 2018. While this remains close to its long-term average of 5.3 months, the number of months of inventory has swollen far above its long-term average in Prairie provinces as well as in Newfoundland & Labrador. By contrast, the measure remains well below its long-term average in Ontario and Prince Edward Island. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 1.6% y-o-y in December 2018. The increase is smaller but still broadly in line with y-o-y gains posted since July. (Chart B)

Apartment units posted the largest y-o-y price gains in December (+4.9%), followed by townhouse/row units (+3.1%). By comparison, two-storey single-family homes posted a small increase (+0.4%) while one-storey single-family home prices eased slightly (-0.3%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Results were mixed in British Columbia. Prices are now down on a y-o-y basis in Greater Vancouver (-2.7%) but remain above year-ago levels in the Fraser Valley (+2.5%). Meanwhile, prices posted a y-o-y increase of 6.4% in Victoria and rose 11% elsewhere on Vancouver Island.

Among housing markets tracked by the index in the Greater Golden Horseshoe region, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.8%), the Niagara Region (+6.8%), Hamilton-Burlington (+6.4%), Oakville-Milton (+3.3%) and the GTA (+3%). Home prices in Barrie and District remain slightly below year-ago levels (-1.1%).

Across the Prairies where supply is historically elevated relative to sales, benchmark home prices remained below year-ago levels in Calgary (-3.2%), Edmonton (-2%), Regina (-5.2%) and Saskatoon (-1.2%). The home pricing environment is likely to remain weak in these housing markets until elevated supply is reduced and becomes more balanced in relation to demand.

Home prices rose 6.9% y-o-y in Ottawa (led by an 8.3% increase in townhouse/row unit prices), 6% in Greater Montreal (led by a 9.1% increase in townhouse/row unit prices) and 2.5% in Greater Moncton (led by a 12.2% increase in townhouse/row unit prices). (Table 1)

The MLS® HPI provides the best way to gauge 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 December 2018 was just over $472,000, down 4.9% from the same month in 2017. The y-o-y decline reflects how the jump in sales in December 2017 in advance of the stress test was more pronounced in more expensive markets.

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 $100,000 from the national average price, trimming it to just under $375,000.

– 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 activity softens further in November

Canadian home sales activity softens further in November

Ottawa, ON, December 17, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted another monthly decline in November 2018.

Highlights:

  • National home sales fell 2.3% from October to November.
  • Actual (not seasonally adjusted) activity was down by 12.6% from one year ago.
  • The number of newly listed homes declined by 3.3% from October to November.
  • The MLS® Home Price Index (HPI) was up 2% year-over-year (y-o-y) in November.
  • The national average sale price retreated by 2.9% y-o-y in November.

Home sales via Canadian MLS® Systems fell by 2.3% in November 2018, adding to the decline in October of 1.7%. While the number of homes trading hands is still up from its low point in the spring, it remains below monthly levels posted from 2014 through 2017. (Chart A)

Transactions declined in just over half of all local markets, with lower activity in the Greater Toronto Area (GTA), the Greater Vancouver Area (GVA) and Hamilton-Burlington offsetting increased sales in Edmonton.

Actual (not seasonally adjusted) activity was down 12.6% y-o-y and came in below the 10-year average for the month of November. Sales were down from year-ago levels in three-quarters of all local markets, including the Lower Mainland of British Columbia, Calgary, the GTA and Hamilton-Burlington.

“National sales activity has lost a bit of momentum over the past couple of months, but local market trends can be, and very often are, different by comparison,” said CREA President Barb Sukkau. “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.

“The decline in homeownership affordability caused by this year’s new mortgage stress-test remains very much in evidence,” said Gregory Klump, CREA’s Chief Economist. “Despite supportive economic and demographic fundamentals, national home sales have begun trending lower. While national home sales were anticipated to recover in the wake of a large drop in activity earlier this year due to the introduction of the stress-test, the rebound appears to have run its course.”

The number of newly listed homes fell by 3.3% between October and November, with new supply declining in roughly 70% of all local markets.

With new listings having declined by more than sales in November, the national sales-to-new listings ratio tightened slightly to 54.8% compared to 54.2% in October. This measure of market balance has remained close to its long-term average of 53.4% since the beginning of 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 60% of all local markets were in balanced market territory in November 2018.

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 5.4 months of inventory on a national basis at the end of November 2018. While this remains in line with its long-term average of 5.3 months, the number of months of inventory is well above its long-term average in the Prairie provinces as well as in Newfoundland & Labrador. By contrast, the measure is well below its long-term average in Ontario, New Brunswick and Prince Edward Island. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2% y-o-y in November 2018. The increase is similar to gains posted since July. (Chart B)

Apartment units posted the largest y-o-y price gains in November (+6%), followed by townhouse/row units (+4%). By comparison, one-storey single-family homes posted a modest increase (+0.4%) while two-storey single-family home prices held steady (+0.1%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains have been steadily diminishing on a y-o-y basis in the Fraser Valley (+4.7%) and Victoria (+7.2%). By contrast, price gains picked up elsewhere on Vancouver Island (+12.6%) and, for the first time in five years, were down (-1.4%) from year-ago levels in the GVA.

Among housing markets tracked by the index in the Greater Golden Horseshoe region, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+9.3%), the Niagara Region (+7.2%), Hamilton-Burlington (+6.3%), Oakville-Milton (+3.4%) and the GTA (+2.7%). Meanwhile, home prices in Barrie and District remain below year-ago levels (-2.1%).

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.9%), Edmonton (-1.9%), Regina (-4%) and Saskatoon (-0.3%). Amid elevated supply relative to sales, the home pricing environment will remain weak in these housing markets until they become better balanced.

Home prices rose 6.6% y-o-y in Ottawa (led by a 7.3% increase in two-storey single-family home prices), 6.2% in Greater Montreal (led by a 9.4% increase in townhouse/row unit prices) and 4.2% in Greater Moncton (led by an 11.2% increase in townhouse/row unit prices). (Table 1)

The MLS® HPI provides the best way to gauge 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 November 2018 was just over $488,000, down 2.9% from the same month last year.

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 $110,000 from the national average price, trimming it to just over $378,000.

– 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