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Courtesy Of
Camille Hemingson Of RE/MAX ALPINE REALTY

$849,000 - 1161 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4254222

When location matters! Tucked into the quiet enclave of Buck Point, this semi-detached townhouse affords the privacy of a single family home with the convenience of condo living. Perfectly positioned at the very west end of the complex, with only one attached neighbour. There are exquisite views from the spacious outdoor living area. Three floors fully developed and tastefully updated…
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Jonathan Cruse Popowich Of RE/MAX IREALTY INNOVATIONS

$465,000 - 1260 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4254411

*OH Sat. & Sun. 1-4:00* Awesome opportunity for a 4 bedroom family home with over 2,000 sqft. of living space in a charming community! A cozy porch welcomes you to the home and once inside you will notice the open feel between the living room and modern upgraded kitchen. A large bay window fills the living space with sunlight. The…
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Hongke Yao Of THE REAL ESTATE COMPANY

$619,000 - 2424 Sq.Ft

Beds
4
Baths
2.20

ACTIVE

Detached

MLS® #C4254260

Wow! Great curb appeal! Backs onto the golf course and located across from homes overlooking Fish Creek Provincial Park! Over 2400 sq. ft. of living space on two levels with four bedrooms up. Spacious master bdrm with golf course view. walk up basement...stainless steel appliances...tiled floors in bathrooms...hardwood on main...formal dining and living rooms...family room with gas fireplace...two furnaces plus…
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Jordan C Lotoski Of RE/MAX HOUSE OF REAL ESTATE

$449,900 - 770 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4241443

Ideally located in the heart of Downtown Calgary, Waterfront puts you in the center of the city's cultural, shopping and dining experiences. This 2 bed 2 bath floor plan offers 770 square feet of contemporary design with a gas fireplace, white quartz counter tops, built-in appliances and an eating bar for 3 or 4. The Master suite offers expansive windows,…
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Reece Hornby Of RE/MAX REAL ESTATE (CENTRAL)

$364,900 - 1309 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4254641

Excellent opportunity to own this Shane Home built, spacious 3 bedroom home in Panorama Hills. The property features an open and bright floor plan, with a large front foyer and rear mud room. The spacious living room offers light flooring and great sun exposure. The kitchen features granite countertops, black appliances and tile backsplash. The upstairs has 2 regular bedrooms…
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Krista Bortoluzzi Of THE REAL ESTATE COMPANY

$175,000 - 1011 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4254457

Great location & price to getting into the real estate market! This unit offers moderate updates overtime with laminate flooring & neutral paint colour. Kitchen cabinetry has been updated overtime, well cared for & clean. Functional main floor layout offers generous living room, full sized dining space, kitchen at back with door to your private FENCED YARD – perfect for…
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Seamus Logue Of RE/MAX FIRST

$419,900 - 1184 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4254371

Spacious 4 level split on a Mature Treed Lot 50x100 in Acadia. 1,184 sqft Plus Fully developed 3rd+4th levels. 2 separate back entrances - 1 door to main floor and 1 door to 3rd level. Walk-UP back Entrance from the 3rd level - ideal for home office or mother in-law suite. 3 bedrms + 3 bathrms. Vaulted ceilings on main…
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Jeff Neustaedter Of RE/MAX FIRST

$584,900 - 1508 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4254449

Exceptionally well-maintained, trendy, fully finished, 3 bedroom, 2.5 bathroom home on a quiet street in Tuxedo Park. Extensive upgrades throughout this home; newer roof, siding, carpet, paint & renovated bathrooms. Outstanding location; close proximity to amenities, walking distance to Lina’s Italian Market, Rosso Coffee Roasters, Amandine Bakery, Citizen Brewing Company & a 10 minute drive/40 minute walk to downtown. Great…
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John Preston Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$440,000 - 1810 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4253670

Welcome to this beautiful 2 story home. With an open design, this immaculate home boasts 3 bedrooms and an over sized attached garage. Large windows on the main floor showcase a gorgeous, professionally landscaped backyard. The spacious and upgraded kitchen has an island, upgraded stainless steel appliances, and a corner walk-in pantry. Additionally, there is a large breakfast nook with…
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Sunny Banipal Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$489,900

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4254614

2 acres located inside the City of Chestermere! Buy and hold or build your dream home on this charming country acreage setting. Please contact the listing agents for more details. This 2-acre parcel is flat and serviced with paved road access & Municipal Water. AMAZING LOCATION
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Zhaoyan Ren Of GRAND REALTY

$655,000 - 1637 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4254505

Location ! Location! Location! Welcome to beautiful community of Capital Hill. This inner city home shows pride of ownership. Enjoy the optimal floor plan with open concept main floor. Numerous windows throughout make this a bright and sunny home. 9'ceilings, raised breakfast bar, walk-in pantry, fireplace, and hardwood flooring. 3 bdrms up with vaulted ceilings in the master, walk in…
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Courtesy Of
Derek Leippi Of 2% REALTY

$229,000 - 910 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4253610

AMAZING LOCATION! Spacious 2 Bedroom END UNIT in the Heart of BELTLINE - known for its nightlife, restaurants & urban culture. Upgraded & Updated! Granite Counter tops, Wood Laminate Flooring, New Kitchen Cabinets, High end Appliances & European style washer/dryer combo. Terrific Layout with Large living room/eating area & two generous size bedrooms. The sprawling sun drenched 24 FOOT BALCONY…
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Courtesy Of
Jamie Newton Of RE/MAX FIRST

$569,900 - 1321 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4253410

Beautifully maintained bungalow in a fantastic location in desirable location in Lk Bonavista. Truly one of the best curb appeals you'll find in Bonavista. Meticulous landscaping in the front & back - a gardener's paradise. You'll appreciate how the main floor flows when you enter the home. The kitchen has been opened up to the living area & has a…
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Courtesy Of
Sally Krulis Of RE/MAX REAL ESTATE (CENTRAL)

$399,900 - 1073 Sq.Ft

Beds
5
Baths
2.00

ACTIVE

Detached

MLS® #C4254248

Amazing VALUE for this WELL maintained home in HIGHLY SOUGHT after MAYLAND HEIGHTS! A DESIRABLE and PRIME central location! Located on a nice quiet street only minutes to downtown and close to schools, shopping,w/a pantry, lots of cabinets, counter space and plenty of potential! There is also an adjacent dining room and transit and more! NEWER ROOF and siding.The main…
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Courtesy Of
Darshan Sidhu Of ESTATEVIEW

$151,000 - 73 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4254608

VERY NEAT AND CLEAN 2 BEDROOM CONDO IN THE VERY DESIRABLE LOCATION OF HIGHLAND PARK NEW HOT WATER TANK.PUBLIC TRANSPORTATION JUST STEPS AWAY,AN ELEMENTARY SCHOOL AND PLAYGROUND JUST ACROSS THE STREET.10 MINUTES DRIVE TO DOWNTOWN.CLOSE TO ALL OTHER AMENITIES.VERY EASY TO SHOW.SHOWS VERY WELL.VERY GOOD STARTER HOME OR REVENUE PROPERTY,WILL NOT LAST AT THIS PRICE.


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Canadian home sales rise again in May 2019

Canadian home sales rise again in May 2019

Ottawa, ON, June 14, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed further in May 2019.

Highlights:

  • National home sales rose 1.9% month-over-month (m-o-m) in May.
  • Actual (not seasonally adjusted) activity was up 6.7% year-over-year (y-o-y).
  • The number of newly listed homes edged back by 1.2% m-o-m.
  • The MLS® Home Price Index (HPI) fell 0.2% m-o-m in May, the fifth straight decline.
  • The actual (not seasonally adjusted) MLS® HPI stood 0.6% below May 2018.
  • The actual (not seasonally adjusted) national average sale price was up 1.8% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 1.9% in May 2019. Together with monthly gains in March and April, activity in May reached the highest level since January 2018. While sales stood 8.9% above the six-year low reached in February 2019, this latest increase has only just returned levels to their historical average. (Chart A)

While May sales were only up in half of all local markets, that list included almost all large markets, led by gains in both the Greater Vancouver (GVA) and Greater Toronto (GTA) areas.

Actual (not seasonally adjusted) sales activity was up 6.7% compared to May 2018, marking the largest y-o-y gain recorded since the summer of 2016. The increase returned sales in line with the 10-year average for the month of May. While about two-thirds of local markets posted y-o-y gains for the month, the national increase was dominated by improving sales trends in the GTA, which accounted for close to half of the overall increase.

“Home price trends and market balance continues to differ significantly among Canadian housing markets,” said Jason Stephen, CREA’s President. “All real estate is local. No matter where you are, a professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Stephen.

“The mortgage stress-test continues to present challenges for home buyers in housing markets where they have plenty of homes to choose from but are forced by the test to save up a bigger down payment,” said Gregory Klump, CREA’s Chief Economist. “Hopefully the stress-test can be fine tuned to enable home buyers to qualify for mortgage financing sooner without causing prices to shoot up.”

The number of newly listed homes edged back by 1.2% in May. With sales up and new listings down, the national sales-to-new listings ratio tightened to 57.4% in May compared to 55.7% in April. That said, the measure is still within close reach of its long-term average of 53.5%.

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, almost three-quarters of all local markets were in balanced market territory in May 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 5.1 months of inventory on a national basis at the end of May 2019, down from 5.3 in April and 5.6 months back in February. Like the sales-to-new listings ratio, the number of months of inventory is within close reach its long-term average of 5.3 months.

Housing market balance varies significantly by region. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers in those parts of the country ample choice. By contrast, the measure remains well below long-term averages for Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

MLS® HPI data are now available on a seasonally adjusted basis in addition to the actual (not seasonally adjusted) figures. On a seasonally adjusted basis, the Aggregate Composite MLS® HPI edged down 0.2% in May 2019 compared to April and stood 1.4% below the peak reached in December 2018.

Seasonally adjusted MLS® HPI readings in May were up from the previous month in 12 of the 18 markets tracked by the index; however, home price declines in the Lower Mainland of British Columbia contributed to the monthly decline in the overall index. Markets where prices rose in May from the month before include Victoria (0.5%), Edmonton (0.2%), Saskatoon (0.4%), Ottawa (0.7%), Niagara (0.2%), Oakville (0.8%), Guelph (0.5%), Barrie (3.6%), Montreal (0.5%) and Greater Moncton (0.5%), with gains of 0.1% in the GTA and Regina. By contrast, readings were down from the month before in the GVA (-1.0%), Fraser Valley (-1.1%), the Okanagan Valley (-1.3%), Calgary (-0.1%) and Hamilton (-0.7%), while holding steady on Vancouver Island outside Victoria.

The actual (not seasonally adjusted) Aggregate Composite MLS® Home Price Index (MLS® HPI) edged down by -0.6% y-o-y in May 2019. While small, it was nonetheless the largest decline in almost a decade. (Chart B)

All benchmark property categories tracked by the index posted y-o-y declines in May 2019. Townhouse/row and apartment unit prices were little changed from last May, edging back by just 0.2%. By comparison, two-storey single-family home prices were down 0.5% y-o-y and one-storey single-family home prices fell 1.7% y-o-y.

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 the GVA (-8.9%), the Fraser Valley (-5.9%) and the Okanagan Valley (-0.7%). Meanwhile, prices edged up 1% in Victoria and climbed 4.7% 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 (+5.7%), the Niagara Region (+5.4%), Hamilton-Burlington (+3.4%), Oakville-Milton (+3.4%) and the GTA (+3.1%). 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 4.3% in Calgary, 3.6% in Edmonton, 3.9% in Regina and 1.3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 8% y-o-y in Ottawa (led by a 12.2% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 7.6% increase in apartment unit prices), and 2% in Greater Moncton (led by a 15.9% 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 May 2019 was close to $508,000, up 1.8% from the same month in 2018.

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 $111,000 from the national average price, trimming it to just under $397,000.

– 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 130,000 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




Quarterly Forecasts

Quarterly Forecasts

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 14, 2019 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations in 2019 and 2020.

Many of the economic fundamentals that support housing activity remain strong outside of the Prairies as well as Newfoundland and Labrador. Following the release of CREA’s previous forecast in March, population and employment growth has remained strong and the unemployment rate has fallen further. Additionally, the Bank of Canada is widely expected to not raise interest rates over the rest of the year.

Budget 2019 also raised the maximum individual withdrawal limit under the Home Buyers’ Plan (HBP) from $25,000 to $35,000 and introduced the First Time Homebuyer Incentive, a shared equity program whereby the federal government finances a portion of a home purchase in exchange for an equity share in the home’s value. The increased HBP withdrawal limit took effect in late March, while the First Time Homebuyer Incentive is slated to launch in September.

These factors are expected to support to the beginnings of a recovery in home sales over the second half of 2019 after starting this year on a weak footing. Nonetheless, the overall level of sales is expected to remain well below where it was in recent years, as successive policy changes  – most notably the implementation of the B-20 stress test – continue to limit access to mortgage financing and dampen housing market sentiment. This is particularly the case in pricier areas where younger buyers have had little choice but to borrow more to get into the market.

National home sales are now projected to edge up 1.2% to 463,000 units in 2019. CREA’s previous forecast estimated a decline of 1.6% this year. This would still leave annual sales below the 10-year average and a far cry from the annual record set in 2016, when almost 540,000 homes traded hands. On a per capita basis, the forecast for 2019 would remain effectively tied with 2018 for the weakest year since 2001.

British Columbia is the only province expected to weigh materially on national figures in 2019, with a decline of 13.3% compared to 2018, marking a small upward revision from the previously forecast decline of 14.9%. Other revisions from the previous forecast for sales in 2019 were also upward, with Alberta moving from a 5.6% decline to a 0.9% decline, and Ontario’s gain upgraded from 0.9% previously to 3.9%.

Quebec and New Brunswick are still forecast to see the biggest sales gains in percentage terms in 2019 (+7.7% and +10.6%, respectively), with both provinces on track to set new annual records. Sales in Saskatchewan and Newfoundland and Labrador are forecast to improve by almost 5%, albeit from the lowest levels in more than a decade recorded last year. Meanwhile, activity in Manitoba and Nova Scotia is forecast to rise between 3.5% and 4.5% to near-record annual levels.

The national average price is still projected to stabilize (-0.6%) at around $485,000 in 2019 following the 4.1% drop recorded in 2018, which was the largest in almost 25 years. This reflects a stark and growing split between Eastern and Western regions. In line with the balance between supply and demand across the country, average prices are forecast to fall in 2019 in British Columbia, Alberta, Saskatchewan, and rise in Ontario, Quebec and the Maritimes. The average price is also expected to fall for the fifth consecutive year in Newfoundland and Labrador.

Sales are forecast to continue to improve in 2020. Absent the weak start experienced in 2019, national home sales are forecast to rise 4.4% to 483,200 units as interest rates remain near current levels and potential home buyers continue to adjust and adapt to the assortment of recent policy changes. Almost all provinces are forecast to see more sales in 2020 compared to 2019, with gains ranging from 1% to 6%.

That said, the big picture is that sales are expected to remain historically weak in British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador, historically strong in Quebec, New Brunswick, Manitoba and Nova Scotia, and come in close to the 10-year average in Ontario.

The national average price is forecast to edge up by 0.9% to around $490,000 in 2020. Average price trends across Canada in 2020 are generally expected to be more moderate versions of those in 2019, with small declines in British Columbia, Alberta, Saskatchewan and Newfoundland and Labrador, and modest gains in all provinces from Manitoba through the Maritimes.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 130,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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 rise in April 2019

Canadian home sales rise in April 2019

Ottawa, ON, May 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales climbed in April 2019.

Highlights:

  • National home sales improved by 3.6% month-over-month (m-o-m) in April.
  • Actual (not seasonally adjusted) activity was up 4.2% year-over-year (y-o-y).
  • The number of newly listed homes climbed 2.7% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.3% y-o-y in April.
  • The national average sale price edged up 0.3% y-o-y.

Home sales recorded via Canadian MLS® Systems rose by 3.6% m-o-m in April 2019. After having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018. (Chart A)

April sales were up in about 60% of all local markets, with the Greater Toronto Area (GTA) accounting for over half of the national gain.

Actual (not seasonally adjusted) sales activity was up 4.2% y-o-y in April (albeit from a seven-year low for the month in 2018), the first y-o-y gain since December 2017 and the largest in more than two years. The increase reflects gains in the GTA and Montreal that outweighed declines in the B.C. Lower Mainland.

“Housing market trends are improving in some places and not so much in others,” said Jason Stephen, CREA’s President. “All real estate is local. No matter where you are, a professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Stephen.

“Sales activity is stabilizing among Canada’s five most active urban housing markets,” said Gregory Klump, CREA’s Chief Economist. “That list no longer includes Greater Vancouver, which fell out of the top-five list for the first time since the recession and is well into buyers’ market territory. Sales there are still trending lower as buyers adjust to a cocktail of housing affordability challenges, reduced access to financing due to the mortgage stress-test and housing policy changes implemented by British Columbia’s provincial government,” said Klump.

The number of newly listed homes rose 2.7% in April, building on March’s 3.4% increase. New supply rose in about 60% of all local markets, led by the GTA and Ottawa.

With sales up by more than new listings in April, the national sales-to-new listings ratio tightened marginally to 54.8% from 54.3% in March. This measure of market balance has 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, about three-quarters of all local markets were in balanced market territory in April 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 5.3 months of inventory on a national basis at the end of April 2019, down from 5.6 and 5.5 months in February and March respectively and in line with the long-term average for this measure.

Housing market balance varies significantly by region. The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers there ample choice. By contrast, the measure remains well below long-term averages in Ontario and Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) appears to be stabilizing, having edged lower by 0.3% y-o-y in April 2019. (Chart B)

Among benchmark property categories tracked by the index, apartment units were again the only one to post a y-o-y price gain in April 2019 (0.5%), while two-storey single-family home and townhouse/row unit prices were little changed from April 2018 (-0.3% and -0.2%, respectively). By comparison, one-storey single-family home prices were down by -1.4% y-o-y.

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 (GVA; -8.5%) and the Fraser Valley (-4.6%), up slightly in the Okanagan Valley (1%) and Victoria (0.7%), while climbing 6.2% 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 the Niagara Region (6.2%), Guelph (5.1%), Hamilton-Burlington (4.6%) the GTA (3.2%) and Oakville-Milton (2.5%). By contrast, home prices in Barrie and District held below year-ago levels (-5.3%).

Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 4.6% in Calgary, 4% in Edmonton, 4.3% in Regina and 1.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.

Home prices rose 7.8% y-o-y in Ottawa (led by an 11% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 7.8% increase in apartment unit prices), and 1.8% in Greater Moncton (led by an 11.5% 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 April 2019 was close to $495,000, up 0.3% from the same month in 2018.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most expensive housing markets. Excluding these two

markets from calculations cuts almost $104,000 from the national average price, trimming it to just over $391,000.

– 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 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
E-mail: pleduc@crea.ca