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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
Kevin Moore Of LEGACY REAL ESTATE SERVICES

$419,900 - 2022 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226750

Great value, great community! CCI Homes is proud to present the Lotus, a 2,022 sq.ft. three bedroom, 2 1/2 bath spec home, with double attached garage and city style finish on a spacious LANED lot (RV parking or extra garage). Open concept main level is ideal for entertaining with spacious living room with fireplace, dining area with deck, and kitchen…
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Courtesy Of
Dennis J Plintz Of PLINTZ REAL ESTATE

$4,499,000 - 4260 Sq.Ft

Beds
6
Baths
5.20

ACTIVE

Detached

MLS® #C4227082

Three acres estate with two homes surrounded by the Bow River, Valley Ridge Golf Course, and an evergreen environmental reserve. A private oasis in the city without the possibility of adjacent development. The main home boasts over 6,700 square feet of luxuriously developed living space. The Timberframe construction is complemented by grizzly rock limestone, and anodized bronze windows. The round…
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Courtesy Of
Bernie Seifert Of CIR REALTY

$375,000 - 1008 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Detached

MLS® #C4223838

Welcome Home to this cozy gem in the sought-after community of Acadia! Great starter home for the young family near school, shopping, and public transportation. The main level boasts a spacious living room, 4-piece main bathroom, large kitchen with eating area, and 3 spacious bedrooms. The lower is partially finished. Lowmaintenance yard is fenced and fully landscaped with plenty of…
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Courtesy Of
Harminder Saini Of URBAN-REALTY.ca

$362,500 - 1342 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Duplex

MLS® #C4227017

Move in Ready beautiful pacesetter home is available. 1342 sq ft well designed open concept house features laminate flooring on the main floor. Beautiful Kitchen with beautiful kitchen cabinets and quartz countertop. Backyard has deck built and gravel garage pad. Upstairs offers a master bedroom with walk in closet and three piece ensuite. Two more good size bedrooms and Laundry.…
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Courtesy Of
Janine R Ion Of CIR REALTY

$322,000 - 1183 Sq.Ft

Beds
4
Baths
1.10

ACTIVE

Detached

MLS® #C4225638

Spend your day skating & tobogganing at Emerson lake, then come home to relax and unwind by the warmth of a crackling fire, sipping cocoa and watching the snow fall through the bright bay window in your great room. This beautifully updated 3 lvl split is fully developed with the perfect space for a growing family. Luxury vinyl plank flows…
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Courtesy Of
Adam Mysliwy Of CENTURY 21 ELEVATE REAL ESTATE

$249,900 - 644 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4225216

This Top Floor unit checks everything on your list including in-suite laundry,titled underground parking,titled storage locker and is located within minutes to the LRT station, Bridgeland amenities, Bow River and provides quick access to the downtown core. The open concept layout features a spacious living room with corner gas fireplace, 4 piece bathroom next to the master bedroom with walk-in…
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Courtesy Of
Juanita Power Of FIRST PLACE REALTY

$249,900 - 897 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4227087

Beautiful TOP FLOOR, CORNER UNIT CONDO in the desirable SW community of Patterson! Tons of renovations over the years on this bright, open layout 2 bedroom, 2 full bathroom bungalow apartment. All carpet floorings were replaced with wide plank laminate floorings on the main living area, both bedrooms, and tile flooring on both bathrooms and kitchen. Modern neutral colors throughout,…
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Courtesy Of
Debbie Mitzner Of RE/MAX LANDAN REAL ESTATE

$340,000 - 1083 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4227080

Truly Priced to Sell. Live in and Enjoy Quiet Safe Cul-de-sac. Location. Location. Location. East Exposure Enjoy the morning sun on your deck. Back Yard is all decked out and fenced. Open Views. Hot Tub. Entertain and Enjoy Large Family sized Eatin Kitchen. Open Concept to Living Room. Main Floor Laundry.Full Developed Raised Bungalow . Infloor Heating in the Basement.…
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Courtesy Of
Jordan Roy Huntrods Of ROYAL LEPAGE SOLUTIONS

$1,750,000 - 3198 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4226863

EXCLUSIVE ISLAND LAKE LIVING|TRIPLE CAR GARAGE|PRIVATE DOCK! You will start by driving through a private gate and bridge onto INCREDIBLE MAHOGANY ISLAND! This exceptional property on Mahogany Lake boasts 4 bedrooms and 3.5 baths spread over 4300 SF of developed space. With beautiful lake views and an open concept design, you’ll find the main floor highlighted by 10-foot ceilings and…
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Courtesy Of
Curtis Atkinson Of RE/MAX REAL ESTATE (CENTRAL)

$1,675,000 - 2304 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4226605

A true character dream home in the most desired community & location of Rosedale. A 15 min walk to downtown, this Ralph Camp designed & built home is steps to Crescent Rd. This screams vintage character with wall to wall hardwood floors, open living room w/ wood burning fireplace & semi-formal dining. The kitchen, facing your sprawling backyard & covered…
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Courtesy Of
Barbara Petty Of STONEMERE PROPERTY SOLUTIONS

$249,900 - 1058 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4227051

END UNIT in the heart of Deer Ridge! Perfect for any family starting out or Empty Nesters. This newly upgraded 3 bed/1.5 bath comes with New Flooring in living room and kitchen. New Custom Built kitchen cabinets in a spacious kitchen/dining area with new SS appliances. Huge Master bedroom. All new windows and new vinyl fenced backyard with deck. This…
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Courtesy Of
Alan Saliba Of CENTURY 21 ELEVATE REAL ESTATE

$2,599,000 - 4564 Sq.Ft

Beds
5
Baths
4.10

ACTIVE

Detached

MLS® #C4226845

Premium rare location located in the executive area of Bel-aire is a true 1 of a kind.This home has been carefully redone w/high end-windows,plumbing,electrical,stucco,paint,appliances,custom kitchen & vanities,designer wallpaper,custom built-ins,LED lighting,exotic qrtz counters,wire brushed white-oak hrdwd, custom cement/porcelain/marble tile work,gas fireplace,4 gorgeous fireplaces,ceiling spkrs,custom glass, m/floor laundry,& high-end champagne bronze plumb fixtures.Main floor features exquisite vaulted ceilings with tons of natural…
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Courtesy Of
Kevin Chau Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$839,900 - 2074 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4227044

Welcome to this stunning, unique and one of a kind bungalow in desirable Signal Hill. This over sized bungalow with bonus room has been extensively and professionally renovated, pride of ownership is shown through out. You are treated with a private dinning room, large renovated chef's kitchen, both breakfast nook and living room with majestic mountain views and a cozy…
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Courtesy Of
Terry Chang Of THE REAL ESTATE COMPANY

$575,000 - 2500 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4227046

This well established Business started from a Home based business as a Mobile repair business. In its 1st year gross sales was $160k then the 2nd year was $250k. As a result the owner decided to set up 2 retail stores. The first store(Central South) opened in Jan,2017 and the 2nd store opened Aug,2017. The Gross sales increased by 96%…
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Courtesy Of
Sam Olschewski Of RE/MAX FIRST

$2,250,000 - 3191 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4227043

Luxury and quality define this custom built Baywest home situated in one of Calgary's most desirable communities! Offering 4268 SF of developed living space with a heated triple attached garage with upgraded epoxy floors! The bright and open main floor features 10' ceilings, stunning light fixtures, wide plank engineered hardwood, formal dining with coffered ceiling and living room open to…


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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