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Courtesy Of
Christopher Matlashewski Of ROYAL LEPAGE SOLUTIONS

$439,900 - 1285 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4255251

Located on a mature tree lined street, this well-maintained & updated 3-bedroom bungalow is the perfect home to accommodate any buyer. Host your perfect summer night BBQ on the sprawling, west facing 2-storey deck. Catering to families and empty-nesters alike who are looking to establish an active lifestyle & enjoy the limitless pathways of nearby Fish Creek Park. With nearly…
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Courtesy Of
Khushmeet Sidhu Of RE/MAX COMPLETE REALTY

$549,900 - 2077 Sq.Ft

Beds
6
Baths
3.10

ACTIVE

Detached

MLS® #C4255234

Gorgeous Family home in the desirable neighborhood of Coral Springs. This beautiful 6 BEDROOMS 3.5 BATHROOM home has it all! Gleaming Hardwood floors on the main lead you through the spacious Formal Living Room, Dining Room, Private Office, and the Gorgeous kitchen with a breakfast nook! The Kitchen offers GRANITE countertops, corner pantry, island and custom cabinetry. Upstairs awaits 3…
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Courtesy Of
Simon D Hunt Of RE/MAX HOUSE OF REAL ESTATE

$184,900 - 881 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4255452

**ATTENTION INVESTORS + RENOVATORS** WE ARE PUTTING A SALE ON in BLACK DIAMOND + YOU are INVITED! OPPORTUNITY KNOCKS to obtain a BLANK CANVAS for your RENOVATION or INVESTMENT PROPERTY - INVEST in YOUR future!!! HUGE 825 sq m CORNER LOT (w/MATURE TREES) creates ROOM for your IMAGINATION, + currently over 1762 sq ft of LIVING SPACE w/a GREAT floor…
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Courtesy Of
Drew Allum Of REDLINE REAL ESTATE GROUP INC.

$539,900 - 1270 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4255501

Here is a beautifully renovated bungalow on a quiet street in Braeside. This home is situated on a large lot and just steps from a serene green space. The open concept upstairs features Quartz counter-tops and stainless steel appliance package in the kitchen, as well as three ample sized bedrooms including full bathroom and 2 piece ensuite. Downstairs has 1…
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Courtesy Of
Donald Wong Of 2% REALTY

$414,900 - 1294 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4255106

OPPORTUNITY ALERT – 4 BEDROOM/3.5 BATHROOM HOME WITH WALK-UP/SEPARATE ENTRANCE TO BASEMENT (W/1 BEDROOM & KITCHENETTE) & OVERSIZED 22x22 DOUBLE GARAGE (INSULATED W/ 8FT DOOR and 10FT CEILINGS). FRESH PAINT/BASEBOARDS, NEW CARPET & MOVE-IN READY! The living room is flooded w/natural light pouring in from the large bay window. The kitchen features tile flooring, tile backsplash, large island w/ plenty…
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Courtesy Of
David Kube Of CALGARY WEST REALTY

$509,900 - 1218 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4255231

Walkout Bungalow villas backing on to a golf course rarely come up for sale in secluded Emerald Park in Panorama Hills. Great views from both the main floor and the fully developed walkout basement. A very open floor plan with features including 9 foot ceilings, main floor den, hardwood floors, granite countertops, air conditioning, 3 year old appliances, a newer…
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Courtesy Of
Ryan L Shandruk Of RE/MAX REALTY PROFESSIONALS

$499,900 - 978 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4255209

Welcome to Vogue, built by LaCaille! This is the popular Majestic floorplan, offered for sale by the original purchaser. Owner occupied since new. This bright corner suite boasts large windows that offer great views of downtown, the Bow River, the Peace Bridge, and more. Both bedrooms have the same wood flooring as the main area, there is no carpet to…
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Courtesy Of
Philip Wu Of CIR REALTY

$360,000 - 1395 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4237117

Excellent opportunity to own well kept home in the wonderful community of Hidden Valley! Recently updated with laminate flooring on both the main and upper floor! Shingles just replaced in 2018 as well. Large open family room is perfect for family get togethers with a convient 2 pc bathroom on the main and the spacious dining room ensures there's room…
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Courtesy Of
Justyna Lis Of REDLINE REAL ESTATE GROUP INC.

$474,900 - 2149 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4255437

This beautifully designed home offers convenience & style with an open-concept main floor, well-appointed living spaces & invitingly spacious bedrooms featuring a stunning gourmet kitchen with stainless steel appliances, quartz counter tops, upgraded lighting package, beautiful hardwood flooring and stone fireplace in the great room. The upper floor boasts a large bonus room, convenient upper floor laundry room, 3 bedrooms…
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Courtesy Of
Benny Wildey Of RE/MAX FIRST

$650,000 - 2396 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4253950

**OPEN HOUSE SATURDAY JUNE 29 1:00PM-3:00PM** Opportunity to own on this street is rare! Looking for a spacious, beautiful home, large lot for kids to play, 4 bedrooms and a bonus room, in the school zone? This is it!! Built by award winning Jayman Homes, this is an outstanding open concept main floor plan, spacious kitchen with tons of cabinet…
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Courtesy Of
Lily Chow Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$449,900 - 1175 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4255110

Spacious fully developed bi-level that has been meticulously maintained and upgraded by its original owners. Ready to welcome a new family. Set back high on beautiful lot and views across the park. Situated in a stable community 3 blocks from an elementary school, block from transit & close to Southland Leisure Centre. Skilled craftsmen have created beautiful woodwork and tile…
Active

Courtesy Of
Simon Wong Of CIR REALTY

$445,000 - 1114 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4255427

Excellent location for this beautiful upgraded bungalow situated on the 2nd largest lot on the block complete with a triple detached garage. Features a large, open kitchen with newer beautiful oak cabinets, complete with granite counter tops and tile flooring, living room with large bay window and beautiful updated stone detailed fireplace, 3 bedrooms up and 1 down, a large…
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Courtesy Of
Dario Lazaric Of GRAND REALTY

$563,800 - 2170 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4255409

Welcome to Lakeside living at its BEST!!! Upon entry of this stunning home ,you are greeted with a bright open to above tiled entrance showing off the stunning iron rod railings. The huge open concept main floor featuring 9 foot ceilings & beautiful hard wood flooring, gas fireplace, which makes it functional for day to day living and entertaining. Kitchen…
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Courtesy Of
Spencer Tonkinson Of RE/MAX IREALTY INNOVATIONS

$339,000 - 923 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4255418

Great community spirit in this adult villa walkout (50+). This unit has a rare location and style and is sought after. This south facing bungalow unit backs onto a natural ravine with one of the best views in the complex. Lots of natural light and vaulted ceiling make this home a place you won’t want to leave. Main floor has…
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Courtesy Of
Jennifer Gurnett Of CIR REALTY

$309,900 - 1025 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Semi Detached

MLS® #C4254718

No Condo Fees! This home has been beautifully updated with brand new flooring throughout the main floor & fresh modern paint. Enter in to a bright and spacious living room with many options for the furniture layout that best suits you. On the main floor you'll also find a 2 piece bathroom and a kitchen & dining area overlooking your…


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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