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Amar Calgary RealtorAbout Amar – Calgary Realtor

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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.

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Courtesy Of
Larry Normandeau Of RE/MAX LANDAN REAL ESTATE

$520,100 - 2000 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226419

This is a STUNNING HOME with IMMEDIATE POSSESSION AVAILABLE! This brand new Pacesetter Home features a floor plan that is spacious & open...the central kitchen offers beautiful white cabinetry, quartz counter tops, designer back splash, stainless steel appliances & a walk through pantry; the living room has a gas fireplace that is finished with a chic tile surround with mantle…
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Shauna Yawney Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$539,000 - 2081 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4227007

Welcome Home! Backing onto peaceful Crystal Ridge Golf Course, this CUSTOM BUILT home boasts 4 bedrooms up, a bonus room + a is fully developed and Move In Ready! On the main, you're drawn in by the sunlight, view & upgrades featuring; a STUNNING KITCHEN w/2 Islands, granite counters, Rich Cabinetry, tiled backsplash & walk through pantry; a picturesque Dining…
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Courtesy Of
Roberto C Argenal Of RE/MAX IREALTY INNOVATIONS

$299,900 - 709 Sq.Ft

Beds
0
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4226200

Reside in this authentically converted Warehouse unit at the IMPERIAL LOFTS! This fabulous home features Central A/C, an updated kitchen and bathroom with granite counters, glass tile backs plash and custom espresso colored cabinetry. Light floods through its enormous windows during the day and at night through dramatic lighting down from its 14-ft ceiling heights. Additional features include underground heated…
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Courtesy Of
Dusko Sremac Of RE/MAX FIRST

$530,000 - 1201 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4228162

This stunning renovated bi-level home features OVER 2200 sqft of developed living space and is just minutes from Fish Creek Park, schools and shopping! Upon entering the home you will be greeted by sunlight. The main level, open concept layout is modern and completely updated (even has a fresh coat of paint). It features granite and porcelain floor tiles, high…
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Jeannie Penney Of CENTURY 21 BRAVO REALTY

$59,900 - 1300 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4227161

Great profitable family business with lots of regular customers, with huge potential to increase sales. Easy to operate, open Monday to Friday so you can enjoy your weekends off. Super location in an industrial with many surrounding businesses. Low rent under $2000.00 per month. Seller is willing to train. Tours by appointment only. Call today for more information and to…
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Renata M D Reid Of SOTHEBY'S INTERNATIONAL REALTY CANADA

$1,275,850 - 2879 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4224283

*OH | Sat & Sun | Feb 23 & 24 | 2-4:30pm* Imagine owning this luxury family home in Parkdale’s desirable “Golden Triangle“ near the Bow River pathway system. Come home to 3588 sqft of living space w/ 4 bedrms & 4 bathrms. Your bright & open main floor w/ newly updated lighting & designer paint hosts a gourmet kitchen…
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Courtesy Of
Rayel Walker Of QUEST REALTY

$425,000 - 2098 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4227018

Opportunity to MOVE OUT OF TOWN presents itself with this CARSTAIRS 2.22 acre parcel. Almost 2100 sq ft of living space boasting 4 BEDROOMS, 2 LIVING ROOMS with large windows, views & GAS FIREPLACE. The kitchen features STAINLESS STEEL APPLIANCES, an ISLAND, lots of counter space and SKYLIGHT. The master bathroom is a good size with a 4pc ENSUITE &…
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Courtesy Of
Sacheen Wendy Paul Of CIR REALTY

$254,000 - 854 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4226975

FANTASTIC downtown views await you from this southwest facing corner unit. This inviting floorplan is bright and sapcious and features 2 good sized bedrooms, 2 full bathrooms and an open, spacious living area. Originally, 2 bedrooms + den, the den has been converted, behind the striking barn doors, to a large in suite storage area (can easily convert back) With…
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Odell S Ramcharan Of COLDWELL BANKER HOME SMART REAL ESTATE

$1,188,000 - 1805 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226625

Open House Saturday February 23rd from 1:00-4:00pm...Bring yourself home to Artesia at Heritage Pointe, one of the premiere estate communities south of Calgary. Beautiful, well-spaced homes are nestled among water features and green spaces providing a type of non-isolated sanctuary that is difficult to find. The custom Albi built bungalow has numerous upgrades added that are not present when comparing…
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Ed Briggs Of RE/MAX HOUSE OF REAL ESTATE

$397,900 - 690 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4227039

THIS AMAZING 1 BEDROOM + DEN CONDO IN FABULOUS "CALLA" IS A RARE FIND - IT INCLUDES 2 TITLED INDOOR PARKING STALLS! The unit itself is GORGEOUS - boasting high end upgrades throughout - rich laminate flooring, chef's dream kitchen with SS appliances & quartz countertops, luxurious bathroom with rainfall shower & marble counters, PLUS beautiful custom walnut bulkhead featuring…
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Carol A Thompson Of CENTURY 21 BAMBER REALTY LTD.

$369,900 - 1334 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226792

*OPEN HOUSE - Saturday Feb 23rd 1 - 4 PM* YOU COULDN'T ASK FOR A BETTER LOCATION! Steps from a daycare and the newly opened École Beausoleil (currently K-9, but soon up to Grade 12), and across the lane from a playground / park, complete with skating rink! A great place to raise your family. And what a charming house!…
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Courtesy Of
Justyna Lis Of REDLINE REAL ESTATE GROUP INC.

$1,788,000 - 1765 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4226775

OPEN HOUSE - Sat FEB 23 12:00-2:00 PM Situated on one of St. Andrews Heights largest lots; this home exhibits modern elegance paired with industrialised inspired features. Vaulted 14 ft ceilings, beautiful angular windows, floor to ceiling brick fireplace, exceptional custom kitchen cabinetry and exquisite finishings are featured over all 2900 square feet of living space. Master bedroom provides a…
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Serhan Tarkan Of ROYAL LEPAGE BENCHMARK

$440,000 - 1049 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Detached

MLS® #C4226272

Developer alert! Character 1.5 storey in the popular family community of Capitol Hill on this 42x119ft / R-C2 lot only a few blocks to Confederation Park. Hardwood & tile floors throughout, spacious South-facing living room, separate dining room & kitchen with loads of pine cabinetry. Full bath with pedestal sink & clawfoot tub. Both bedrooms have hardwood floors & sloped…
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Courtesy Of
Zafar Bahadar Of RE/MAX REAL ESTATE (CENTRAL)

$205,000 - 995 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4227066

FANTASTIC location in Panorama Pointe corner unit. This floor plan is bright and sapcious and features 2 good sized bedrooms, 2 full bathrooms and an open, you'll love the proximity to transit, schools, close to parks & easy access to Stoney Trail Don't miss out!! Call for your viewing today
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Courtesy Of
Dino Pezzente Of ROYAL LEPAGE SOLUTIONS

$619,900 - 1317 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Row House

MLS® #C4226387

TRU Building has done it again! This stunning, contemporary, South facing, inner city front unit, with over 1900 sq ft of living space, is the perfect place to call your own! Highly upgraded, features of this home include open concept layout, high gloss white cabinetry w/ black accent handles, quartz countertops, s/s appliances with gas stove, built-in microwave, custom flooring,…


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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