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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Austin Cowley Of RE/MAX HOUSE OF REAL ESTATE

$195,000 - 836 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Row House

MLS® #C4223189

Steps from public transit, Sunridge Mall and a dozen great restaurants this freshly renovated condo unit is priced to sell. Showcasing durable laminate flooring throughout with updated carpet for the stairs, a wood burning fireplace and a great back patio area great for entertaining guests for barbeques or celebrations. With 2 spacious bedrooms and one stunningly updated 4 piece bathroom…
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Courtesy Of
Justin Havre Of RE/MAX FIRST

$425,000 - 2146 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4220330

Welcome home to 1048 Copperfield Blvd SE, with an UNBELIEVABLE PRICE !!!!! This spacious home features tile flooring throughout the main floor with 9’ ft ceiling, upgraded appliances in your large bright kitchen and nook area. The main floor continues on with an inviting living room adjacent to the formal dining room. The upper level has a spacious bonus room…
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Courtesy Of
Taeju Lee Of ROYAL LEPAGE SOLUTIONS

$209,900 - 861 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4221299

Welcome to this bright and open-concept 2 bedroom condo apartment in the desirable community of Royal Oak. This unit offers 2 PARKING STALLS (1 titled underground & 1 assigned outdoor) and a large assigned STORAGE LOCKER, a rare offering for condo buildings in this area. Utilities are all included (electricity, heat, water/sewer). Kitchen has lots of cabinet and counter space,…
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Courtesy Of
Randy Gallant Of RE/MAX LANDAN REAL ESTATE

$499,900 - 1822 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4223184

What an INCREDIBLE KITCHEN is the first thing you will think when you enter this beautiful property! Do you considered yourself a foodie or even a future contestant on Top Chef Canada THEN this is the kitchen for you! The AGA Legacy Gas Range with 6 burners/2 ovens/broiler is worth over $22,000 alone! Your friends/family will enjoy sampling your culinary…
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Courtesy Of
Dean Petrillo Of FIRST PLACE REALTY

$469,500 - 993 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4223016

Nestled in "The Armory" this suite is situated in the rejuvenated community of Currie Barracks. Close to so many amenities this 2 bedroom condo is the perfect place to end your hectic day. Upon entering your new home, the kitchen is bright and modern, complete with stainless steel appliances, quartz counter-tops and sleek wood grain cabinets it will provide you…
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Courtesy Of
Tim C Taylor Of SQFT REAL ESTATE

$304,900 - 1252 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4223153

NEW CONSTRUCTION/UNDER CONSTRUCTION. FIRST PHASE/EARLY POSSESSIONS MARCH 1. 2019 - APRIL 1. 2019. Flexible deposit options available. Pictures showcased in this listing are not of the actual property and are taken from a show suite that is available to tour and view. This beautiful 2 bedroom + 2.5 bathroom, 3 level townhome with double attached garage (A Plan) is located…
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Courtesy Of
Bill MacDougall Of OPTIMUM REALTY GROUP

$529,000 - 1399 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4223098

A beautiful custom designed & finished home that you have to see & it’s only minutes’ walk to the lake. Located at Little Bow Resort this 1400+sq/ft bungalow has over 2600 sq/ft of total living space. When you walk into this beautiful home you are greeted by high vaulted wood ceilings & bright sunny windows. This home has 5 bedrooms…
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Courtesy Of
Michael Jette Of REAL ESTATE PROFESSIONALS INC.

$349,967 - 1598 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4222486

Welcome to this 3-bed, 3-bath 1598 sq/ft bungalow on a great street. This well-built, lightly used home backs onto a tranquil greenspace. This fine home is ideal for raising your family; walking distance to 3 schools, close to shopping, great access to all major Trails in the NE. Close to the LRT, shopping & airport. I know you will appreciate…
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Courtesy Of
Laura Stickler Himmelspeck Of RE/MAX ROCKY VIEW REAL ESTATE

$206,900 - 741 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4223171

Why Pay RENT when you can OWN!!! Welcome home to the Edge complex! This sunny, south facing 2 BED 2 BATH unit features new paint, and stainless steel appliances. Your assigned parking stall is right outside your front door… No need to haul groceries up an elevator, or through the lobby. Once inside, the open concept kitchen and living room…
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Courtesy Of
Cynthia Culhane Of CIR REALTY

$459,900 - 1668 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4222999

Be prepared to be mesmerized! Cardel built Sierra model flaunts a smart floorplan yet elegant with gleaming hardwood & tile flooring throughout main level, built-in speaker system & Vacu-Flo system. This house was built for your busy family in mind! As you enter, you are welcomed by a large storage system to keep everything organized plus one at the back…
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Courtesy Of
Amanda Shaw Of FIRST PLACE REALTY

$430,000 - 1310 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4222972

This property is located in the new Subdivision of the "Vistas" in Olds, Alberta. This open concept bungalow property features 2 bedroom, 2 full bathroom, main floor laundry, gorgeous kitchen with a large island and family room with a Gas fireplace to keep you cozy warm on cold winter nights. Off the kitchen, there is a large covered deck with…
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Courtesy Of
Kevin French Of RE/MAX HOUSE OF REAL ESTATE

$239,011 - 645 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Row House

MLS® #C4222713

This open layout plan is the perfect amount of space for your new home! This home provides you with the comfort of single level living with the convenience of your own tandem (double) attached garage. Your new L shaped, island kitchen has ample storage with full height cabinetry and beautiful quartz countertops. The main living area has durable laminate flooring…
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Courtesy Of
Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$999,900 - 1765 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4223050

Your dream home awaits in this beautifully updated walkout bungalow tucked away in this private cul-de-sac overlooking the prestigious Hamptons golf course. Custom-crafted by Westglen Homes, this outstanding air-conditioned home boasts extensive hardwood floors & vaulted ceilings, 3 large bedrooms & steel roof. With its expanse of picture windows & warm natural light, you will love the open concept design…
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Courtesy Of
Stewart J J Lowe Of REAL ESTATE PROFESSIONALS INC.

$687,000 - 2396 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4223143

If you have ever really wanted a full walkout 5 bedroom family home backing onto a ravine, you have just found it! Listings do not come up often on Royal Elm Road backing onto the natural Ravine. This is one of Royal Oaks nicest locations, quiet and peaceful. Fully landscaped, irrigation system & tiered backyard with full WALKOUT. Lots of…
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Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$425,000 - 1600 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4222809

Welcome to this wonderful condo at The Sierra’s of Heritage – an adult community 29+ building with lots of amazing amenities. One of the largest units available – this 2 bed condo offers 1,600 sq ft of living space & comes with 2 heated parking stalls. The south facing unit allows for loads of natural light. It offers a huge…


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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




Canadian home sales activity eases in October

Canadian home sales activity eases in October

Ottawa, ON, November 15, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between September and October 2018.

Highlights:

  • National home sales fell 1.6% from September to October.
  • Actual (not seasonally adjusted) activity was down by 3.7% from one year ago.
  • The number of newly listed homes eased 1.1% from September to October.
  • The MLS® Home Price Index (HPI) was up 2.3% year-over-year (y-o-y) in October.
  • The national average sale price slipped by 1.5% y-o-y in October.

Home sales via Canadian MLS® Systems edged back by 1.6% in October 2018. While activity is still stronger compared to the first half of 2018, it remains below monthly levels recorded from early 2014 through 2017. (Chart A)

Transactions declined in more than half of all local markets, led by Hamilton-Burlington, Montreal and Edmonton. Although activity did improve modestly in many markets, it was offset by a decline in sales elsewhere by a factor of two.

Actual (not seasonally adjusted) activity was down 3.7% compared to October 2017 and in line with the 10-year average for the month. While sales were down y-o-y in slightly more than half of all local markets in October, lower sales in Greater Vancouver and the Fraser Valley more than offset the rise in sales in the Greater Toronto Area (GTA) and Montreal by a wide margin.

“This year’s new mortgage stress-test has lowered how much mortgage home buyers can qualify for across Canada, but its effect on sales has varied somewhat depending on location, housing type and price range,” said CREA President Barb Sukkau. “All real estate is local. A professional REALTOR® is your best source for information and guidance in negotiating a purchase or sale of a home during these changing times,” added Sukkau.

“National sales activity lost momentum in October,” said Gregory Klump, CREA’s Chief Economist. “In part, this reflects waning activity among some urban centers in Ontario’s Greater Golden Horseshoe region and the absence of an offsetting rise in sales in the Lower Mainland of British Columbia. Even so, the balance between sales and listings in these regions points to stable prices or modest gains. By contrast, the balance between sales and listings for housing markets in Alberta, Saskatchewan and Newfoundland indicates a weak pricing environment for homeowners who are looking to sell.”

The number of newly listed homes edged down 1.1% between September and October, led by the GTA, Calgary and Victoria. The decline in new supply among these markets more than offset an increase in new supply in Edmonton and Greater Vancouver.

As for the balance between sales and listings, the national sales-to-new listings ratio in October came in at 54.2% — close to September’s reading of 54.4% and its long-term average of 53.4%.

Considering the degree and duration to which market balance readings are above or below their long-term average is the best way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance 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 October 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 5.3 months of inventory on a national basis at the end of October 2018. While this remains in line with its long-term national average, the number of months of inventory is well above its long-term average in the Prairie provinces and in Newfoundland & Labrador. By contrast, Ontario and Prince Edward Island are the two provinces where the measure remains

more than one standard deviation below its long-term average. In other provinces, the number of months of inventory is closer to its long-term average and suggests that sales and inventory are well balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.3% y-o-y in October 2018 with similar gains posted in each of the three previous months. (Chart B)

Apartment units posted the largest y-o-y price gains in October (+7.4%), followed by townhouse/row units (+3.9%). By comparison, one-storey single-family homes posted a modest increase (+0.6%) while two-storey single-family home prices held steady.

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains have been diminishing on a y-o-y basis (Greater Vancouver: +1%; Fraser Valley: +6.8%; Victoria +8.5%; elsewhere on Vancouver Island: +11.8%).

By contrast, MLS® HPI benchmark price comparisons are improving on a y-o-y basis among housing markets in the Greater Golden Horseshoe region that are tracked by the index. Home prices were up from year-ago levels in Guelph (+9.3%), Hamilton-Burlington (+6.8%), the Niagara Region (+6.3%), the GTA (+2.6%) and Oakville-Milton (+2.2%). While home prices in Barrie and District remain slightly below year-ago levels (-0.9%), declines there are shrinking; if current price momentum persists, home prices in December are on track to turn positive compared to December 2017.

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.6%), Edmonton (-2.4%), Regina (-3.6%) and Saskatoon (-0.9%).

Home prices rose by 6.6% y-o-y in Ottawa (led by a 7.4% increase in two-storey single-family home prices), by 6.3% in Greater Montreal (led by a 9.8% increase in townhouse/row unit prices) and by 4.2% in Greater Moncton (led by a 12.4% 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 October 2018 was just under $496,800, down 1.5% 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 $114,000 from the national average price, trimming it to just under $383,000.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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