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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Trung Bien Of RE/MAX REAL ESTATE (CENTRAL)

$1,349,000 - 2630 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4241173

OPEN HOUSE APR 28 1:30-4:00pm. Luxurious inner-city infill, no detail missed in this modern & elegant home. Sitting on a quiet tree-lined street in Altadore w/extra deep (35x138') south facing backyard.The entrance immediately awes w/soaring ceilings & glamourous curved staircase.The flexible front room can be a formal living or dining rm w/sliding doors for privacy.The adjacent den provides a tucked…
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Joe Viani Of RE/MAX REAL ESTATE (CENTRAL)

$449,500 - 1499 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4241406

Stunning upgraded home on a quiet family friendly street steps from parks and playgrounds with a sunny west facing backyard and only minutes from schools, shopping, and amenities. Front foyer preludes a large living room accented by a stone timed electric fireplace with custom mantle. Spectacular kitchen boasts upgraded cabinets, tiled backsplash, stainless steel appliances (gas range), quartz counter tops…
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Jordan C Lotoski Of RE/MAX HOUSE OF REAL ESTATE

$649,900 - 2052 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4241455

This stunning well kept 2 story home showcases pride of ownership both in and out. The kitchen features HEATED floors, ceiling high cabinetry, GRANITE counters w/oversized island, professional S.S. appliances w/ 40" GAS RANGE & walk-in pantry. The main floor is bright & open with a flex room that would make a great office or formal dining room, a spacious…
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Ken Tuan Nguyen Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$539,900 - 736 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Detached

MLS® #C4232467

Attention Builders & Investors! A great opportunity to purchase in the hot community of Montgomery! This bungalow has 2 bedrooms 1 bathroom. TLC is required. Flat corner lot 50' x 120' RC-2 southwest backing. It is a must see with lots of potential for building or investing!
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Tarjinder Dhillon Of CENTURY 21 BRAVO REALTY

$199,000 - 184 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4240782

Excellent Opportunity to buy a unit in New Horizon Mall.
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Barry J Reder Of MAXWELL CAPITAL REALTY

$189,900 - 1100 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Semi Detached

MLS® #C4241487

! Owner, Barely used Half Duplex, Modern layout and decor with Stainless Steel appliances all included ready for possession. Attached Garage, RV parking beside concrete drive, Gas BBQ hookup. Handicap access with large Master with walk in closet, large 2nd Bonus room. Close to all amenities, Low maintenance Exterior and Landscaping don't hesitate, with this fully finished and attractive unit…
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Dione J Irwin Of ROYAL LEPAGE INNOVATE

$405,000 - 1729 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4241224

This BRIGHT SPACIOUS FULLY-UPGRADED home on MASSIVE CORNER LOT w/OVERSIZED GARAGE & room for RV PARKING is just 2blocks from an ELEMENTARY SCHOOL! Picture yourself in this EXECUTIVE STYLE home located near a 23-acre NATURE RESERVE & PATHWAY SYSTEM in WILLIAMSTOWN. As you enter the SPACIOUS FRONT PORCH adds undeniable charm! Inside you find a convenient FRONT DEN, MODERN LAMINATE…
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AJ Barkman Of RE/MAX ACA REALTY

$38,000

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4241333

Wow!!! This is the cheapest lot in Alberta!!! Located in a beautiful little cul-de-sac, waiting for your new home! This serviced 40x166 lot is conveniently located in Bowden, just off Hwy QE2, easy commute to Red Deer or Calgary!
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Kelly Falconi Of RE/MAX REAL ESTATE (CENTRAL)

$323,900 - 1110 Sq.Ft

Beds
3
Baths
1.20

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Semi Detached

MLS® #C4241335

Come visit this well maintained, owner occupied, 3 BDRM, 2-storey home in the community of Ogden. The home speaks for itself, superior CUL-DE-SAC location, S/S appliances, wide plank laminate flooring (wears exceptionally well), ENSUITE, new fixtures, new knobs, wall decor treatment, ample storage, outside oasis (PVC deck & hot tub) etc. Easy access to and from Glenmore, Deerfoot & Barlow…
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Ricardo Serrano Toledo Of EXP REALTY

$809,900 - 1896 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4239451

Stunning like-new duplex in Richmond with 2300+ Sq.Ft of developed space! The main floor welcomes you with hardwood floors, a formal living and dining room with a half bath. Then a top of the line kitchen that features a big island with quartz countertops, stainless steel appliances (GAS stove), lots of cabinet space and a family room with a gas…
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Corene Loewen Of REDLINE REAL ESTATE GROUP INC.

$549,900 - 2640 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4238467

This custom built Elm home exudes quality & distinction from the moment you walk in. The ‘Grandness’ of the foyer properly introduces this classic & beautiful family home. The main floor boasts tile & hardwood throughout with 9 foot ceilings & natural light pouring in. The turret style front office is a unique & bright workspace. The kitchen & great…
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Steve Mummery Of URBAN-REALTY.ca

$679,900 - 2267 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4241313

South-facing 2-Storey walkout home with over 3400sqft developed, an unobstructed view of the city/mountains and backs onto green space! This turn-key family home is located in coveted Hawkwood on a quiet street, steps from a playground and minutes from all amenities - including Crowfoot LRT station. The main floor features an updated kitchen with granite countertops and lots of cupboard…
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Steve William Hunter Of SUTTON GROUP CANWEST

$299,800 - 511 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4241228

Keynote 2 - one of Calgary’s premier apartment residences providing direct access to all modern conveniences to live the ideal urban lifestyle. This 17th floor, west facing unit features full height white cabinets, SS appliances, granite countertops & a huge island for informal dining. The kitchen is open to the dining nook & living room - nice & bright thanks…
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Lona MacRae Of ROYAL LEPAGE INTEGRITY

$419,000 - 1190 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4241282

Charming Bi-Level on a quiet cul de sac! This home boasts an attached double garage (new garage door 2018) on a large pie shaped lot with mature landscaping backing on a walking path. The spacious entrance leads up to the extensive bright living room. There is gleaming hardwood flooring through-out the main level with linoleum in the kitchen & bathroom.…
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Courtesy Of
Jim Barbaro Of REAL ESTATE PROFESSIONALS INC.

$424,900 - 1274 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4241096

Fabulous location for this 3 bedroom walk-out bungalow with a double attached garage on a quiet cul-de-sac on a large pie shaped lot. The open concept main floor features a living/dining room combo with gleaming hardwood floors and a wood burning stove. The kitchen with new tile flooring is a good size with lots of counter space an eating bar…


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Canadian home sales edge higher in March 2019

Canadian home sales edge higher in March 2019

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

Highlights:

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

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

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

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

“It will be some time before policy measures announced in the recent Federal Budget designed to help first-time homebuyers take effect,” said Jason Stephen, CREA’s President. “In the meantime, many prospective homebuyers remain sidelined by the mortgage stress-test to varying degrees depending on where they are looking to buy. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” added Stephen.

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

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

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

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, two-thirds of all local markets were in balanced market territory in March 2019.

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

There were 5.6 months of inventory on a national basis at the end of March 2019, in line with the February reading and one of the highest levels for the measure in the last three-and-a-half-years. Still, it is only slightly above its long-term average of 5.3 months.

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

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

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

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

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

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

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

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

The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in March 2019 was $481,745, down 1.8% from the same month in 2018.

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

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales drop sharply in February 2019

Canadian home sales drop sharply in February 2019

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

Highlights:

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

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

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

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

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

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

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

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

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about 70% of all local markets were in balanced market territory in February 2019.

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

There were 5.7 months of inventory on a national basis at the end of February 2019, a three-and-a-half-year high and a little above its long-term average of 5.3 months. That said, there are significant regional differences. The number of months of inventory has swollen far above its long-term average in Prairie provinces and Newfoundland & Labrador; as a result, homebuyers there have an ample choice of listings available for purchase. By contrast, the measure remains well below its long-term average in Ontario and the Maritimes.

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

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

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

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

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

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

The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in February 2019 was $468,350, down 5.2% from the same month in 2018.

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

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales improve in January 2019

Canadian home sales improve in January 2019

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

Highlights:

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

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

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

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

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

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

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

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, more than half of all local markets were in balanced market territory in January 2019.

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

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

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

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

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

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

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

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

The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in January 2019 was

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

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

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca