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About Amar – Calgary Realtor

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Courtesy Of
Jim Lee Of CENTURY 21 BRAVO REALTY

$109,800 - 2100 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4283075

Popular, established restaurant, same owner for last 4 years (2,100 SF), located in busy Westwinds Plaza with lots of foot traffic and C-Train station which is a 5 minute walk. This restaurant is offering delicious Afghan Dine-in, take-out and Catering services. Updated dining room (approx. 30 seats) on main floor, along with 2nd floor dining area perfect for private functions,…
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Courtesy Of
Roberta Gibbons Of FIRST PLACE REALTY

$424,900 - 1722 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4283072

This great home comes complete on all three levels. Feshly painted, three family rooms, separate eating area, main floor laundry, large kitchen with island and built in wine rack, tons of cupboards, counter space, also an eating bar, glass patio doors off kitchen that takes you outside to large deck, wood burning fireplace, sunken living room. The fully developed family…
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Courtesy Of
Craig Heynen Of EXP REALTY

$1,349,000 - 2420 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4282901

A MUST SEEl! This 5 bedroom, 3.5 bath, warm & updated walk-out bungalow is on 2 acres of privacy and perfection. You are greeted w/ Soaring 12' ceilings in the front foyer and the open and inviting front Great Room. The South wing includes a gorgeous separate dining room and a modern & updated eat-in kitchen with new appliances, granite…
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Courtesy Of
Darya Pfund Of STRATTEN GATES REAL ESTATE LTD.

$274,900 - 1151 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4283063

*For more information about this property, click the "Multimedia or Brochure" buttons below.* Beautiful and well located town house, backing onto green space, in the heart of Hidden Valley! Spacious main floor with tons of natural light displays a large living room with a cozy gas fireplace, large dinning area, maple kitchen cabinets and powder room. New laminate flooring throughout…
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Courtesy Of
William B Bridgewater Of CIR REALTY

$309,500 - 1360 Sq.Ft

Beds
2
Baths
1.10

ACTIVE

Row House

MLS® #C4282853

Beautiful, 2 story townhouse end unit, with walkout basement and double attached garage. Completely updated with many upgrades. Contemporary open plan on main level with modern half bath. New paint throughout. Kitchen has gorgeous granite counters, back-splash & center Island, upgraded cupboards, hybrid gas range and deep stainless steel double sink with 2-stage water filter. The main floor has gleaming…
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Courtesy Of
JC Van Der Walt Of MAXWELL CAPITAL REALTY

$405,000 - 743 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4282976

Great opportunity to own a brand new, never been lived in 2-bedroom, 2-bathroom condo priced to sell. The unit features an open plan living space with an efficient kitchen with stainless steel appliances and glass top stove. Master bedroom with walk through closet and en-suite bathroom, second bedroom and second bathroom with large glass shower and in-suite washer/dryer. The unit…
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Courtesy Of
Philip Pask Of SELLER DIRECT REAL ESTATE

$568,888 - 1135 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4282432

GENTLEMEN, START YOUR ENGINES! Give your lovely spouse the attached front garage to park their car out of the snow at this great home, and enjoy the oversized rear double detached garage for all your cars, motorbikes and toys-you big romantic you! And talk about the location - this home is in the true heart of Brentwood, walking distance to…
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Courtesy Of
Jordan Helwerda Of RE/MAX HOUSE OF REAL ESTATE

$323,900 - 551 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4282217

Elegant City Living in this large 1 Bedroom, 1 Bathroom unit in the highly sought after concrete building, Bridgeland Crossing. Open concept living featuring 9' Ceilings, Quartz Countertops, high end Stainless steel Appliances, Gas Cooktop, built-in Oven and Spacious Island with Eating Bar. Enjoy the Convenience of In-suite Laundry. The Large Balcony explores west views, with sights of downtown and…
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Courtesy Of
Darren Cameron Of CIR REALTY

$188,888

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4282810

NO GST ON THIS Incredible Location in the finished phase backing to Park steps to Rec. Center & Ghost Lake! This large Lot has no building commitment & is a bareland condo so you can have access to all the amenities immediately! This beautiful lakeside retreat can be enjoyed year round with large swimming pool, gym, & Rec. Center! Boat…
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Courtesy Of
Phil Dekort Of THE REAL ESTATE COMPANY

$629,900 - 1026 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4283053

Beautifully renovated home is the REAL jewel of Acadia! Nestled just off Acadia Drive gives easy access to Southland,Deerfoot,& Blackfoot just under 20km to City Center.The designer kitchen boasts Quartz COUNTER-TOPS, CUSTOM CABINETRY that continues throughout the home.Delight in your HIGH END APPLIANCES incl. Smart Fridge,Convection Micro,Gas Stove,Nest Thermostat and much more!The Master Bedroom w/ Walk-through closet inclds. wardrobes and…
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Courtesy Of
Darrah Del Selanders Of RE/MAX ACA REALTY

$350,000 - 955 Sq.Ft

Beds
4
Baths
1.00

ACTIVE

Detached

MLS® #C4283067

Looking for 5 acres of countryside serenity? Would you prefer pavement rather than a long gravel road? Love a big garage to park or tinker in? Looking for a project or tear-down home at a great price? Find it all with this great acreage on pavement under 15 minutes from Carstairs and Highway 2 access. The home is cozy at…
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Courtesy Of
Nettie T Hendricks Of CENTURY 21 BAMBER REALTY LTD.

$690,000 - 2156 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4283025

GORGEOUS 2156 SQ FT BUNGALOW nestled on 3 ACRES amid glorious SUNRISES AND SUNSETS (with mountain views) This CUSTOM built home features a STUNNING KITCHEN with an abundance of pot and pan drawers and an OVERSIZED ISLAND with counters overlaid with GRANITE. There are wall to wall drawers and the island is also double sided with drawers. A BUTLER'S PANTRY…
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Courtesy Of
Ken Braat Of ROYAL LEPAGE SOLUTIONS

$359,000 - 1240 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4282913

Bring your family to see this former show home with upgrades galore! The vaulted ceilings and open concept welcome you as you enter the kitchen/ dining area. The open spacious kitchen features stainless appliances and gas range for the chef in the family. Off the kitchen /dining area enjoy a book in the warm sitting or living room made even…
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Courtesy Of
Shelley Kohut Of RE/MAX ACA REALTY

$515,000 - 1489 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4282396

LIVE, WORK AND PLAY from this amazing acreage just minutes west of Sundre! Very well maintained 4 bedroom 1 1/2 storey with 2 1/2 baths. Oak sunshine kitchen with more cupboard space then you will know what to do with! Cosy up for a chat around the island, or have a formal sit down at the table, take coffee on…
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Courtesy Of
Matthew G Wiebe Of REAL ESTATE PROFESSIONALS INC.

$449,900 - 1893 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4282429

Don’t miss your chance to view this well-maintained two-storey in the heart of Evergreen located walking distance to schools, playgrounds, transit, Fish Creek Park and more! The main floor features ceramic tile floors, kitchen with stainless steel appliances, island, and breakfast bar which is open to the eating area and inviting living room w/gas fireplace. Upstairs you will find a…


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Canadian home sales inch lower in December

Canadian home sales inch lower in December

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

Highlights:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The actual (not seasonally adjusted) national average price for homes sold in December 2019 was around $517,000, up 9.6% from the same month the previous year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts more than $117,000 from the national average price, trimming it to around $400,000 and reducing the y-o-y gain to 6.7%.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

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

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

< Back to Newsroom

Canadian home sales edge higher in November

Canadian home sales edge higher in November

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

Highlights:

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

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

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

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

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

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

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

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

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

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

Meanwhile, an ongoing shortage of supply of homes available for purchase across most of Ontario, Quebec and the Maritime provinces means sellers there hold the upper hand in sales negotiations. The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

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

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

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

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

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

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

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

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

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

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

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

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

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

The actual (not seasonally adjusted) national average price for homes sold in November 2019 was around $529,000, up 8.4% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $125,000 from the national average price, trimming it to around $404,000 and reducing the year-over-year gain to 6.9%.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

< Back to Newsroom

Canadian home sales hold steady in October

Canadian home sales hold steady in October

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

Highlights:

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

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

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

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

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

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

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

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

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

Based on a comparison of the sales-to-new listings ratio with the long-term average, just over two-thirds of all local markets were in balanced market territory in October 2019, including the GTA and Lower Mainland of British Columbia. Nonetheless, sales negotiations remain tilted in favour of buyers in housing markets located in Alberta, Saskatchewan and Newfoundland & Labrador.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The actual (not seasonally adjusted) national average price for homes sold in October 2019 was around $525,000, up 5.8% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $125,000 from the national average price, trimming it to around $400,000 and reducing the year-over-year gain to 4.7%.

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460

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