RE/MAX Real Estate Central


Call me today: (403) 207-3242

About Amar – Calgary Realtor

Fluent in: English, Tagalog, Punjabi, Hindi, Urdu

My commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Whether buying or selling, I invite you to contact me with any questions that you may have. My promise to you is that your experience will be both stress-free and enjoyable.

Thank you for stopping by.

The Professional Experience You Deserve

All Listings - Calgary Real Estate

Take a look through all of our Office Listings

Order:   Filter:
Active

Courtesy Of
Anthony Lewis Of PURPLEBRICKS

$229,500 - 595 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4283102

The Block! The convenience of being minutes away from 17th Ave with restaurants, shopping and Night-life that are steps away from your condo. Open concept design inner city living close to transit and a bike ride to the downtown core. Opportunity for first time home buyers, landlords, or snow birds.
Active

Courtesy Of
David P Brown Of THE REAL ESTATE COMPANY

$179,900 - 1023 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4283028

Welcome to the North Park complex! Situated close to everything you need this town home has it all. With 3 bedrooms and 1.5 bathrooms this is an ideal opportunity for first time home buyers or is a great investment to add to your rental portfolio. The main floor offers a kitchen with an eating area, a half bathroom and a…
Active

Courtesy Of
Cathy Pigeon Of COLDWELL BANKER MOUNTAIN CENTRAL

$269,000 - 839 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4283100

WELCOME TO YOUR NEW MULTI-LEVEL BELTLINE APARTMENT! Entering this amazing unit you will be impressed by the bright and spacious main floor. Enjoy cooking in your upgraded kitchen featuring granite countertops, stainless steel appliances, great amount of counter space and eat up bar. The large living room and dining room have hardwood floors, beautiful ceiling height windows and balcony with…
Active

Courtesy Of
Ian G Wisdom Of CIR REALTY

$579,900 - 1819 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4283123

Excellent value, great location & home that oozes charm & style both inside & out. Your new home has room for to grow with over 2600 sq ft of developed space & 9 ft ceilings. Freshly painted in neutral colours. Three bedrooms up, including a large master bedroom with 4 piece ensuite & walk in closet. Your laundry is located…
Active

Courtesy Of
Jordan Helwerda Of RE/MAX HOUSE OF REAL ESTATE

$199,900 - 571 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4283116

Welcome to the Canvas at Millrise; a well located and well appointed complex in the heart of Calgary's Southwest. The unit is a top floor, 1 bedroom, 1 bathroom suite with a west exposed balcony that overlooks the tranquil courtyard. Featuring 9' ceilings and open concept living, the kitchen and living/dinning room flow perfectly to your large private balcony. Tucked…
Active

Courtesy Of
Jayson Shmyrko Of CIR REALTY

$849,000 - 1149 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4281227

This stunning and complete remodeling has transformed a 1950's bungalow into a modern masterpiece, with a hint of rustic design. This custom renovation showcases the undefined limitations of what you can create in a mature community from a dated home. Used as a show suite for the last year, this home will also be featured on the Marc and Mandy…
Active

Courtesy Of
Morris Tkachuk Of 2% REALTY

$539,000 - 2337 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4283148

Prepare to be blown away by this Highly Upgraded & open floor plan in this beautiful Broadview built, Evanston home, featuring 9’ ceilings, hardwood, tile & granite throughout. The kitchen is a chef’s delight offering top-of-the-line Kitchen Aid Stainless Steel Appliances with a gas stove, granite counter tops, Massive island with under mount sink, plus a walk-through pantry leading to…
Active

Courtesy Of
Michelle Primeau Of MORRISON REAL ESTATE

$357,900 - 1449 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4282828

Quality shines through! This BRAND NEW home is READY for you in the natural community of Pine Creek! A total of 3 bedrooms upstairs including a HUGE master suite PLUS a bonus tech space AND upstairs laundry room (comes with washer and dryer)! Both secondary bedrooms have walk in closets. On the main floor there is an open front entry…
Active

Courtesy Of
Travis Copp Of RE/MAX LANDAN REAL ESTATE

$300,000 - 1883 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4283150

Don't miss this affordable well maintained 4 bedroom home in the quiet community of Irricana! This well laid out floor plan greets you with a bright open front room with beautiful bay window, which flows nicely into the dining and kitchen area. The kitchen also feels bright and open and has lots of counter space and cupboards for storage. The…
Active

Courtesy Of
Nancy Maureen Reilly Of REAL ESTATE PROFESSIONALS INC.

$529,000 - 2111 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4282946

New Price New Upgrades! Fully finished on all levels with a new 3 piece bath in basement! Beautiful landscaped yard backing onto park with massive deck and BBQ gas line hookup. Large kitchen with Granite island/bar Maple dark stained cabinets and ss appliances w/loads of counter space and work station. Great open design on both main and upper levels with…
Active

Courtesy Of
Stirling G Karlsen Of RE/MAX HOUSE OF REAL ESTATE

$314,900 - 465 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4279719

This fabulous condo is located in one of Calgary's most sought buildings the Mark on 10th in the highly sought after community, the Beltline. Quality, location and amenities come together seamlessly in this award winning building by Qualex-Landmark. Breathtaking views from the 28th floor in this well laid out 1 bedroom + sunroom/ office flex room condo featuring 9 ft.…
Active

Courtesy Of
Waj M Chawdhry Of RE/MAX IREALTY INNOVATIONS

$263,000 - 798 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4283065

Welcome to Legacy, Calgary's most famous and sought after area. This beautiful 2 bed - 2 bath - titled parking Top Floor Corner unit has it all. Your stunning oasis comes complete with tons of upgrades: central A/C, 9 ft. ceilings, upgraded kitchen, appliances, quartz countertops, soft touch cabinetry, larger cabinets, custom built closet in en-suite, complete blind package, drapes…
Active

Courtesy Of
Larry Normandeau Of RE/MAX LANDAN REAL ESTATE

$569,900 - 2341 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4283017

Nestled in a quiet cul-de-sac, in the heart of Legacy, is this stunning home showcasing an abundance of upgrades & elegant finishings throughout! The foyer is bright with a dramatic 2 storey ceiling; the main level is finished with stylish wide plank flooring throughout, with neutral colored tile in the mudroom & pantry. The open concept floor plan of this…
Active

Courtesy Of
Tom Waller Of WALLER REAL ESTATE GROUP

$629,900 - 2240 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4282557

The Parks of Harvest Hills is a unique opportunity to move into a new section of an already established community. Excellent accessibility to major roadways, the airport, downtown, Nose Creek Sports Complex (Vivo) and amenities. This smartly designed Kelsey model by Cedarglen Homes back to a bike path/green space. Beautiful Luxury Vinyl Plank flooring throughout the main with tile in…
Active

Courtesy Of
Andrew Joseph Of RE/MAX REAL ESTATE (CENTRAL)

$245,000 - 1129 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4283089

Amazing value for this incredible townhome in the beautiful community of Skyview Ranch. This cozy 2 bedroom, 2.5 bath home features stainless steel appliances, high efficiency furnace and water heater, 36" upper cabinet w/ solid maple doors and crown moulding, gas fireplace,and large breakfast bar. The living room and bedroom areas possess vaulted 9 ft ceilings. Excellent location with easy…


9489 others, view more

Advanced Real Estate Solutions

My website comes packed to the brim with tons of amazing features.

Canadian home sales inch lower in December

Canadian home sales inch lower in December

Ottawa, ON, January 15, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales eased between November and December 2019.

Highlights:

  • National home sales declined by 0.9% on a month-over-month (m-o-m) basis in December.
  • Actual (not seasonally adjusted) activity was up 22.7% year-over-year (y-o-y).
  • The number of newly listed properties dropped by a further 1.8% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 3.4% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 9.6% y-o-y.

Home sales recorded over Canadian MLS® Systems edged down 0.9% in December 2019, ending a streak of monthly gains that began last March. Activity is currently about 18% above the six-year low reached in February 2019 but ends the year about 7% below the heights recorded in 2016 and 2017.

There was an almost even split between the number of local markets where activity rose and those where it declined, with higher sales in the Lower Mainland of British Columbia, Calgary and Montreal offsetting declines in the Greater Toronto Area (GTA) and Ottawa.

Actual (not seasonally adjusted) activity was up 22.7% compared to a quiet month of December in 2018. Transactions surpassed year-ago levels across most of Canada, including all of the largest urban markets.

“Home price growth is picking up in housing markets where listings are in short supply,” said Jason Stephen, president of CREA. “Meanwhile, the mortgage stress-test continues to sideline potential home buyers where supply is ample. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“The momentum for home price gains picked up as last year came to a close,” said Gregory Klump, CREA’s Chief Economist. “If the recent past is prelude, then price trends in British Columbia, the GTA, Ottawa and Montreal look set to lift the national result this year, despite the continuation of a weak pricing environment among housing markets across the Prairie region.”

The number of newly listed homes slid a further 1.8% in December, leaving new supply close to its lowest level in a decade. December’s decline was driven mainly by fewer new listings in the GTA and Ottawa–the same markets most responsible for the decline in sales. Listings available for purchase are now running at a 12-year low. The number of housing markets with a shortage of listings is on the rise; should current trends persist, fewer available listings will likely increasingly weigh on sales activity.

With new listings having declined by more than sales, the national sales-to-new listings ratio further tightened to 66.9% in December 2019 – the highest reading since the spring of 2004. The long-term average for this measure of housing market balance is 53.7%. Barring an unforeseen change in recent trends for the balance between the supply and demand for homes, price gains appear poised to accelerate in 2020.

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, just over half of all local markets were in balanced market territory in December 2019. That list still includes Greater Vancouver (GVA) but no longer includes the GTA, where market balance favours sellers in purchase negotiations. By contrast, an oversupply of homes relative to demand across much of Alberta and Saskatchewan means sales negotiations remain tilted in favour of buyers. Meanwhile, an ongoing shortage of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations.

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 4.2 months of inventory on a national basis at the end of December 2019 – the lowest level recorded since the summer of 2007. This measure of market balance has been falling further below its long-term average of 5.3 months. While still within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still within balanced market territory in British Columbia but is becoming increasingly tilted in favour of sellers.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8%, marking its seventh consecutive monthly gain. It is now up 4.7% from last year’s lowest point reached in May and has toppled all previous records in each of the past five months. (Chart B)

The MLS® HPI in December was up from the previous month in 14 of the 18 markets tracked by the index.

Home price trends have generally been stabilizing in the Prairies in recent months following lengthy declines but are clearly on the rise again in British Columbia and in Ontario’s the Greater Golden Horseshoe (GGH). Further east, price growth in Ottawa and Montreal has been ongoing for some time and strengthened toward the end of 2019.

Comparing home prices to year-ago levels yields considerable variations across the country, although for the most part has been regionally split along east/west lines, with declines in the Lower Mainland and major Prairie markets and gains in central and eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) rose 3.4% y-o-y in December 2019, the biggest year-over-year gain since March 2018.

Home prices in Greater Vancouver (-3.1%) and the Fraser Valley (-2%) remain below year-ago levels, but declines are shrinking. Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+4.2%), Victoria (+2.3%) and elsewhere on Vancouver Island (+4.2%).

Calgary, Edmonton and Saskatoon posted y-o-y price declines of around -1% to -2%, while the gap has widened to -4.6% in Regina.

In Ontario, home price growth has re-accelerated well above consumer price inflation across most of the GGH. Meanwhile, price gains in recent years have continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis. One-storey single-family home prices posted the biggest increase (3.6%) followed closely by apartment units (3.4%) and two-storey single family homes (3.3%). Townhouse/row unit prices climbed a slightly more modest 2.7% compared to December 2018.

The MLS® HPI provides the best way to gauge price trends, because 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 December 2019 was around $517,000, up 9.6% from the same month the previous year.

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 more than $117,000 from the national average price, trimming it to around $400,000 and reducing the y-o-y gain to 6.7%.

– 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

< Back to Newsroom

Canadian home sales edge higher in November

Canadian home sales edge higher in November

Ottawa, ON, December 16, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued to edge higher in November 2019.

Highlights:

  • National home sales rose 0.6% month-over-month (m-o-m) basis in November.
  • Actual (not seasonally adjusted) activity was up 11.3% year-over-year (y-o-y).
  • The number of newly listed properties dropped by 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 2.6% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 8.4% y-o-y.

Home sales recorded via Canadian MLS® Systems inched up by 0.6% November 2019. Notching its ninth straight monthly gain, activity stands 20% above the six-year low reached in February 2019 but 6% to 7% below heights recorded in 2016 and 2017.

There was an almost even split between the number of local markets where activity rose and those where it declined. Higher sales across much of British Columbia and in the Greater Toronto Area (GTA) offset a decline in activity in Calgary.

Actual (not seasonally adjusted) activity was up 11.3% year-over-year in November. Transactions surpassed year-ago levels in almost all of Canada’s largest urban markets.

“Sales continue to improve in some regions and not so much in others,” said Jason Stephen, president of CREA. “The mortgage stress-test doesn’t help relieve the ongoing shortage of housing in markets where sales have improved, and it continues to hammer housing demand in markets with ample supply. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“Home prices look set to continue rising in housing markets where sales are recovering amid an ongoing shortage of supply,” said Gregory Klump, CREA’s Chief Economist. “By the same token, home prices will likely continue trending lower in places where there’s a significant overhang of supply, perpetuated in part by the B-20 mortgage stress-test that continues to sideline homebuyers there.”

The number of newly listed homes slid a further 2.7%, putting them among the lowest levels posted in the past decade. November’s decline was driven primarily by fewer new listings in the GTA.

Slightly higher sales and a drop in new listings further tightened the national sales-to-new listings ratio to 66.3%, which is well above the long-term average of 53.7%. If current trends continue, the balance between supply and demand makes further home price gains likely.

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, just over half of all local markets were in balanced market territory in November. That list includes the GTA and Lower Mainland of British Columbia, but market balance there is tightening. By contrast, an oversupply of homes relative to demand across much of Alberta and Saskatchewan means sales negotiations remain tilted in favour of buyers.

Meanwhile, an ongoing shortage of supply of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations. 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 just 4.2 months of inventory on a national basis at the end of November 2019 – the lowest level recorded since the summer of 2007. This measure of market balance has been retreating further below its long-term average of 5.3 months. While still just within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still within balanced market territory in the Lower Mainland of British Columbia but is becoming increasingly tilted in favour of sellers.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8%. Marking its sixth consecutive monthly gain, it now stands almost 4% above its low point reached last May.

The MLS® HPI in November was up from the previous month in 14 of the 18 markets tracked by the index.

Home price trends have generally been stabilizing in the Prairies in recent months.

While that remains the case in Calgary, Edmonton and Saskatoon, prices in Regina have again moved lower. By contrast, home price trends have clearly started to recover in the Lower Mainland of British Columbia. Meanwhile, prices continue to rebound in the Greater Golden Horseshoe (GGH) region while continuing to trend higher in housing markets to the east of it.

Comparing home prices to year-ago levels yields considerable variations across the country, with a mix of gains and declines in western Canada together with price gains in eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) was up 2.6% y-o-y in November 2019, the biggest year-over-year gain since March 2018.

Home prices in Greater Vancouver (-4.6%) and the Fraser Valley (-2.9%) remain below year-ago levels but declines are shrinking. Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+1.4%), Victoria (+1.5%) and elsewhere on Vancouver Island (+2.8%).

Calgary, Edmonton and Saskatoon posted price declines of around -2% y-o-y, while the gap widened to-5.5% y-o-y in Regina.

In Ontario, price growth has re-accelerated well ahead of overall consumer price inflation across most of the GGH. Meanwhile, price growth in recent years has continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis. Two-storey single-family home prices posted the biggest increase, rising 2.8% y-o-y. Price gains were almost as strong for apartment units (+2.6% y-o-y) and one-storey single family homes (+2.5% y o y), while townhouse/row prices climbed a more modest 1.5% compared to November 2018.

The MLS® HPI provides the best way to gauge price trends, because 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 November 2019 was around $529,000, up 8.4% from the same month last year.

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 $125,000 from the national average price, trimming it to around $404,000 and reducing the year-over-year gain to 6.9%.

– 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

< Back to Newsroom

Canadian home sales hold steady in October

Canadian home sales hold steady in October

Ottawa, ON, November 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were unchanged from September to October 2019.

Highlights:

  • National home sales held steady on a month-over-month (m-o-m) basis in October.
  • Actual (not seasonally adjusted) activity was up 12.9% year-over-year (y-o-y).
  • The number of newly listed properties declined by 1.8% m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.6% m-o-m and 1.8% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 5.8% y-o-y.

Home sales recorded via Canadian MLS® Systems remained steady in October 2019 following a string of monthly increases that began in March. Activity is now almost 20% above the six-year low reached in February 2019 but remains 7% below heights reached in 2016 and 2017. (Chart A)

There was an almost even split between the number of local markets where activity rose and those where it declined. Higher sales in Greater Vancouver (GVA), the neighbouring Fraser Valley and Ottawa offset a monthly decline in activity in the Greater Toronto Area (GTA)—particularly in Central Toronto—and Hamilton-Burlington.

Actual (not seasonally adjusted) activity rose 12.9% year-over-year. Transactions were up from year-ago levels in 80% of all local markets in October, including all of Canada’s largest urban markets.

“Steady national activity in October hides how the mortgage stress-test remains a drag on many local housing markets where the balance between supply and demand favours homebuyers in purchase negotiations,” said Jason Stephen, president of CREA. “That said, all real estate is local, so market balance varies depending on location, housing type, and price segment. Nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“It’s a full-blown buyer’s market or on the cusp of one in a number of housing markets across the Prairies and in Newfoundland,” said Gregory Klump, CREA’s Chief Economist. “Homebuyers there have the upper hand in purchase negotiations and the mortgage stress-test has contributed to that by reducing the number of competing buyers who can qualify for mortgage financing while market conditions are in their favour.”

The number of newly listed homes fell by 1.8% in October, with the GTA and Ottawa posting the largest declines. Almost a third of all housing markets posted a monthly decline of at least 5%, while about a fifth of all markets posted a monthly increase of at least 5%.

Steady sales and fewer new listings further tightened the national sales-to-new listings ratio to 63.7%. This measure has been increasingly rising above its long-term average of 53.6%. Its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers; however, the national measure continues to mask significant regional variations.

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, just over two-thirds of all local markets were in balanced market territory in October 2019, including the GTA and Lower Mainland of British Columbia. Nonetheless, sales negotiations remain tilted in favour of buyers in housing markets located in Alberta, Saskatchewan and Newfoundland & Labrador.

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 4.4 months of inventory on a national basis at the end of October 2019—the lowest level recorded since April 2017. This measure of market balance has been retreating further below its long-term average of 5.3 months. While still within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant regional variations. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well

below long-term averages in Ontario, Quebec and Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still well centred within balanced market territory in the Lower Mainland of British Columbia.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.6%, marking its fifth consecutive monthly gain. (Chart B)

Seasonally adjusted MLS® HPI readings in October were up from the previous month in 14 of the 18 markets tracked by the index. (Table 1)

Recently, home price trends have generally been stabilizing in the Lower Mainland and the Prairies. While that remains the case in Calgary and Saskatoon, home prices in Edmonton and Regina have moved lower. By contrast, home price trends have started to recover in the GVA and the neighbouring Fraser Valley.

Meanwhile, price growth continues to rebound in the Greater Golden Horseshoe (GGH). In markets further east, price growth has been trending higher for the last three or four years.

Comparing home prices to year-ago levels yields considerable variations across the country, with mostly declines in western Canada and mostly price gains in eastern Canada.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) was up 1.8% y-o-y in October 2019, the biggest year-over-year gain since November 2018.

Home prices in the GVA (-6.4%) and the Fraser Valley (-4.2%) are still below year-ago levels, although declines are becoming smaller.

Elsewhere in British Columbia, home prices logged y-o-y increases on Vancouver Island and in the Okanagan Valley (3.1% and 2%, respectively) while having edged marginally higher in Victoria (0.5% y-o-y).

Calgary, Edmonton and Saskatoon posted price declines in the range of -1.5% to -2.5% on a y-o-y basis in October, while the gap between this year and last year widened sharply to -6.8% in Regina.

In Ontario, price growth has re-accelerated well ahead of overall consumer price inflation across most of the GGH. Meanwhile, price growth in recent years has continued uninterrupted in Ottawa, Montreal and Moncton.

All benchmark home categories tracked by the index remained in positive y-o-y territory in October 2019. Two-storey single-family home prices were up most, rising 2.5% y-o-y. One-storey single family home prices rose 1.4% y-o-y, while townhouse/row and apartment units climbed by 1% and 1.2%, respectively.

The MLS® HPI provides the best way to gauge price trends, because 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 October 2019 was around $525,000, up 5.8% from the same month last year.

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 $125,000 from the national average price, trimming it to around $400,000 and reducing the year-over-year gain to 4.7%.

– 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

< Back to Newsroom