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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Chris Cameron Of DRUMMER REALTY & PROPERTY MANAGEMENT

$389,900 - 882 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4227063

INVESTOR ALERT!! Great holding/revenue property on quiet street. 2 bedroom unit up and 2 bedroom self contained unit down. Over-sized single garage with newer overhead door (2012). Property is separately metered for electricity and had newer windows installed (2012), new furnace (2017), and new hot water tank (2017). Total rents could exceed $2000/month. The Upper Suite is just renovated (2019)…
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Courtesy Of
John Linster Of RE/MAX REAL ESTATE (CENTRAL)

$699,900 - 1742 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4226321

** Open house Sat Feb 23 1-3pm** Welcome to inner city living at its finest! Imagine stepping off a plane and into the streets of a European city, walk down the quaint court yard to your front door. Hang your coat in what could be your mudroom or flex room. Up the stairs your hear the tea kettle whistle, do…
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Courtesy Of
Kirby W Cox Of ROYAL LEPAGE BENCHMARK

$539,900 - 1875 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4226675

The perfect family home awaits you in this mint condition two storey walkout on this quiet crescent in Arbour Lake just a few short minutes to neighbourhood schools, the lake & bus stops. Proud original owners of this beautifully updated 4 bedroom home, which features hardwood floors & central air, 2 fireplaces & sleek cherrywood kitchen. Dramatic open concept living/dining…
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Courtesy Of
Drago Cosic Of REAL ESTATE PROFESSIONALS INC.

$679,000 - 1202 Sq.Ft

Beds
5
Baths
2.00

ACTIVE

Detached

MLS® #C4226652

Well maintained spacious bungalow in desirable inner-city communities Rutland Park. Great location on a quiet cul-de-sac across from the PARK & close to the community center and schools. RC2 ZONED PROPERTY LOT IS 15.23 x 36.51.Throughout the main level you will find updated windows, beautiful refinished oak hardwood flooring including the 3 main floor bedrooms, generous living room, functional kitchen…
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Courtesy Of
Jordan Helwerda Of RE/MAX HOUSE OF REAL ESTATE

$809,900 - 1829 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4226043

Welcome to 4625 Stanley Rd, a rare find! This semi-detached home offer nearly 2300SF of functional inner city living, with 3 bedrooms up and 3.5 bathrooms this home has every upgrade imaginable. The open concept main floor has soaring 9' foot ceilings with 8' doors. A massive island anchors an elegant kitchen with high end, sleek SS appliances, gleaming quarts…
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Courtesy Of
Greg A Kennedy Of GREATER PROPERTY GROUP

$439,900 - 1801 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226907

Located on a quiet Cul-de-Sac! You'll be amazed at how attractive this bright open floor plan is! 3-bedroom + upper den design with hardwood on the main & second levels! - original owners. You will fall in love with all of the efficiently used 1801 sq ft of living space (unspoiled basement) The main living area is very bright &…
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Courtesy Of
Dianne Lee Taillefer Of CIR REALTY

$445,000 - 1302 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4226902

Gorgeous 3 bedroom,FULLY FINISHED, 2 Storey home in the heart of sought after community of Arbour lake. Beautiful acacia hardwood takes you from the main entrance thru the hallway & kitchen to the backyard. Laundry is located on the main floor in the washroom with lots of space for both. Upstairs is a huge bright master bedroom with large windows…
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Courtesy Of
Tauseef Chughtai Of RE/MAX COMPLETE REALTY

$180,000 - 881 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4226647

Here is your chance to buy this 880 sq. ft. 2 bedroom 2 washroom TOP floor unit with a Functional Layout and 9 ft. ceilings. The unit comes with an Underground Titled Heated Parking Stall. Kitchen has lots of cabinets & Counter Space. There is a spacious master bedroom with a walk through closet & an en suite besides the…
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Courtesy Of
John Ditto Of RE/MAX REALTY PROFESSIONALS

$419,900 - 878 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4226924

OPEN HOUSE Sat Feb 23rd 11am-1pm... ~ Tela in Mission ~ Lifestyle is front & center in this desirable Mission location ~ steps to nightlife, dining, pathways, shoppes & more. Inner city sophistication mixed in with the charm of tree lined streets...Tela is architecturally stunning ~ beautiful brick exterior complimented by a combination of gardens, courtyard styled pathways & beautiful…
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Courtesy Of
Lora M Greco Of REAL ESTATE PROFESSIONALS INC.

$635,000 - 1534 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4226916

Welcome to this beautiful walk-out Bungalow with over 2700 sq.ft. of developed living space, located in a quiet cul-de-sac on a south-backing pie shaped lot. Within the 2 years this home has had extensive updating.Upon entering you'll find stunning hand-scraped engineered Hardwood flooring thru-out, a grand Spiral Staircase and a bright Living Rm with vaulted ceilings and a 2 sided…
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Courtesy Of
Jordan C Lotoski Of RE/MAX HOUSE OF REAL ESTATE

$689,900 - 1350 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Row House

MLS® #C4226912

WH19 by RNDSQR - This well appointed custom 2 story plus loft and roof top patio measuring over 1,850 square feet of well planned space. Entering the home you will be greeted by a large foyer and a sun filled dining room. The kitchen has quartz counter tops, stainless steel appliances and gas stove. Custom made screen detail on staircase…
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Courtesy Of
Wayne Burton Of RE/MAX REALTY PROFESSIONALS

$559,900 - 2057 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4227097

Located close to shopping, parks, playground, transportation and miles of walkways. This 4 bedroom, 3 bathroom home is move in ready. Featuring many updates including the extensive tile work in the kitchen, basement stairs and throughout the bathrooms. Hardwood floors in the main floor living room. The kitchen has newer appliances including a gas stove, granite countertops, tile backsplash and…
Active

Courtesy Of
Al J Sarpalius Of RE/MAX HOUSE OF REAL ESTATE

$739,000 - 1785 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4227096

Located on a quiet child friendly street w a south back yard.This gorgeous home meticulously cared for is sure to impress.Exterior acrylic stucco w cedar & stone highlights.2496SF RMS of developed living space, decorated in soft contemporary colours,upgraded lighting package w numerous pot lights,TRIPLE PANE WINDOWS,Hunter Douglas top down bottom up blinds,HE Furnace,8’ doors on the main & upper level,4…
Active

Courtesy Of
Dave McDonald Of REAL ESTATE PROFESSIONALS INC.

$247,000 - 1030 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Detached

MLS® #C4217934

Quick Possession, vacant. Great buy for investor/landlord, starter or single/small family. 3 Bedrooms up plus the 4 piece bath. Main level has the living room, dining room and kitchen. Basement has a recreation room, laundry/furnace storage room. Double detached garage with work bench, single attached front drive garage converted to storage space also. Wood fencing surrounds the sunny south backyard.…
Active

Courtesy Of
Ammoree Amankwah Of CIR REALTY

$474,900 - 1425 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4227083

***PREMIUM LOCATION***Backing onto green space and pathways, alongside the BOW RIVER (unaffected by the flood of 2013), this RECENTLY RENOVATED, two bedroom, three bathroom gorgeous condo, leaves little to be desired. In a beautiful and serene setting, tucked away at the back of the complex you will find this lovely home. Upon entry you will immediately notice the large kitchen…


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Canadian home sales improve in January 2019

Canadian home sales improve in January 2019

Ottawa, ON, February 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales in January 2019 were up from the previous month but remained below levels recorded one year ago.

Highlights:

  • National home sales rose 3.6% between December 2018 and January 2019.
  • Actual (not seasonally adjusted) activity was down by 4% from one year ago.
  • The number of newly listed homes edged up 1% month-over-month in January.
  • The MLS® Home Price Index (HPI) rose 0.8% year-over-year (y-o-y) in January.
  • The national average sale price fell by 5.5% y-o-y in January.

Home sales via Canadian MLS® Systems climbed 3.6% in January 2019 compared to December 2018 (Chart A). The number of homes trading hands was up from the previous month in half of all local markets, led by Montreal, Ottawa and Winnipeg.

Actual (not seasonally adjusted) were down 4% from year-ago levels and turned in the weakest January since 2015. They also came in below the 10-year average for the month on a national basis and in Canada’s three westernmost provinces, Ontario and Newfoundland & Labrador.

“Homebuyers are still adapting to tightened mortgage regulations brought in last year, “said CREA President Barb Sukkau. “However, their impact on homebuyers varies by location, housing type and price segment. All real estate is local. A professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

“Sales, market balance and home price trends are out of synch among major Canadian cities that have the greatest impact on national results,” said Gregory Klump, CREA’s Chief Economist. “It’s clear that housing market conditions remain weaker in the Prairie region and the Lower Mainland of British Columbia. Notwithstanding the intended consequences, tighter mortgage regulations that took effect in 2018 combined with previous tightening will weigh on economic growth this year.”

The number of newly listed homes edged up 1% in January, led by a jump in new supply in Greater Vancouver and Hamilton-Burlington.

With sales up by more than new listings, the national sales-to-new listings ratio tightened to 56.7% compared to 55.3% posted in December. This measure of market balance has remained close to its long-term average of 53.5% for the last year.

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

Based on a comparison of the sales-to-new listings ratio with the long-term average, more than half of all local markets were in balanced market territory in January 2019.

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

There were 5.3 months of inventory on a national basis at the end of January 2019, in line with its long-term average. That said, the well-balanced national reading masks significant regional differences. The number of months of inventory has swollen far above its long-term average in Prairie provinces and Newfoundland & Labrador; as a result, homebuyers there have an ample choice of listings available for purchase. By contrast, the measure remains well below its long-term average in Ontario and Prince Edward Island, consistent with seller’s market conditions. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 0.8% y-o-y in January 2019 – the smallest increase since June 2018 (Chart B).

Apartment units recorded the largest y-o-y price increase in January (+3.3%), followed by townhouse/row units (+1.5%). By comparison, two-storey single-family home prices were little changed (+0.1%) while one-storey single-family home prices edged down (-1.1%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Results were mixed in British Columbia. Prices were down on a y-o-y basis in Greater Vancouver (-4.5%) and the Fraser Valley (-0.8%). By contrast, prices posted a y-o-y increase of 4.2% in Victoria and were up 9.3% elsewhere on Vancouver Island.

Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+7.2%), the Niagara Region (+7%), Hamilton-Burlington (+5%), Oakville-Milton (+3.9%) and the GTA (+2.7%). By contrast, home prices in Barrie and District remain below year-ago levels (-2.7%).

Across the Prairies, supply is historically elevated relative to sales, causing benchmark home prices to remain down from year-ago levels in Calgary (-3.9%), Edmonton (-2.9%), Regina (-3.8%) and Saskatoon (-2%). The home pricing environment will likely remain weak in these cities until elevated supply is reduced.

Home prices rose 7.1% y-o-y in Ottawa (led by a 9.5% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by a 9.2% increase in townhouse/row unit prices) and 1% in Greater Moncton (led by a 15.1% increase in townhouse/row unit prices). (Table 1)

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

The actual (not seasonally adjusted) national average price for homes sold in January 2019 was

just under $455,000, down 5.5% from the same month in 2018 and marking the biggest year-over-year decline since May 2018.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $95,000 from the national average price, trimming it to just over $360,000.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales fall further in December

Canadian home sales fall further in December

Ottawa, ON, January 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted a fourth-straight monthly decline in December 2018.

Highlights:

  • National home sales fell 2.5% from November to December.
  • Actual (not seasonally adjusted) activity was down by 19% from one year ago.
  • The number of newly listed homes was little changed from November to December.
  • The MLS® Home Price Index (HPI) was up 1.6% year-over-year (y-o-y) in December.
  • The national average sale price fell by 4.9% y-o-y in December.

Home sales via Canadian MLS® Systems fell by 2.5% in December 2018 compared to November, capping the weakest annual sales since 2012. Monthly declines in activity since September have fully retrenched its summer rally and returned it near the lowest level since early 2013.

Transactions declined in about 60% of all local markets in December, led by lower activity in Greater Vancouver, Vancouver Island, Ottawa, London & St. Thomas, and Halifax-Dartmouth, together with a regionally diverse mix of other large and medium sized urban centres.

Actual (not seasonally adjusted) activity was down 19% y-o-y in December 2018 and stood almost 12% below the 10-year average for the month of December. Sales were down from year-ago levels in three-quarters of all local markets, led overwhelmingly by the Lower Mainland of British Columbia, the Okanagan Region, Calgary, Edmonton, the Greater Toronto Area and Hamilton-Burlington.

This decline, in part, is due to elevated activity posted in December 2017 as home buyers rushed to purchase in advance of the new federal mortgage stress test that came into effect on January 1, 2018.

“What a difference a year makes,” said CREA President Barb Sukkau. “Sales trends were pushed higher in December 2017 by home buyers rushing to purchase before the new federal mortgage stress-test took effect at the beginning of 2018. Since then, the stress-test has weighed on sales to varying degrees in all Canadian housing markets and it will continue to do so this year. All real estate is local. A professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

“The Bank of Canada recently said that it expects housing activity will stay ‘soft’ as households ‘adjust to the mortgage stress-test and increases in mortgage rates,’ even as jobs and incomes continue growing,” said Gregory Klump, CREA’s Chief Economist. “Indeed, the Bank’s economic forecast shows it expects housing will undermine economic growth this year as the mortgage stress test has pushed home ownership affordability out of reach for some home buyers,” he added.

The number of newly listed homes remained little changed (+0.2%) from November to December, with declines in close to half of all local markets offset by gains in the remainder.

With sales down and new listings steady in December, the national sales-to-new listings ratio eased to 53.3% compared to 54.8% in November. This measure of market balance has remained close to its long-term average of 53.5% since the beginning of 2018.

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

Based on a comparison of the sales-to-new listings ratio with the long-term average, about two-thirds of all local markets were in balanced market territory in December 2018.

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

There were 5.6 months of inventory on a national basis at the end of December 2018. While this remains close to its long-term average of 5.3 months, the number of months of inventory has swollen far above its long-term average in Prairie provinces as well as in Newfoundland & Labrador. By contrast, the measure remains well below its long-term average in Ontario and Prince Edward Island. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 1.6% y-o-y in December 2018. The increase is smaller but still broadly in line with y-o-y gains posted since July. (Chart B)

Apartment units posted the largest y-o-y price gains in December (+4.9%), followed by townhouse/row units (+3.1%). By comparison, two-storey single-family homes posted a small increase (+0.4%) while one-storey single-family home prices eased slightly (-0.3%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Results were mixed in British Columbia. Prices are now down on a y-o-y basis in Greater Vancouver (-2.7%) but remain above year-ago levels in the Fraser Valley (+2.5%). Meanwhile, prices posted a y-o-y increase of 6.4% in Victoria and rose 11% elsewhere on Vancouver Island.

Among housing markets tracked by the index in the Greater Golden Horseshoe region, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.8%), the Niagara Region (+6.8%), Hamilton-Burlington (+6.4%), Oakville-Milton (+3.3%) and the GTA (+3%). Home prices in Barrie and District remain slightly below year-ago levels (-1.1%).

Across the Prairies where supply is historically elevated relative to sales, benchmark home prices remained below year-ago levels in Calgary (-3.2%), Edmonton (-2%), Regina (-5.2%) and Saskatoon (-1.2%). The home pricing environment is likely to remain weak in these housing markets until elevated supply is reduced and becomes more balanced in relation to demand.

Home prices rose 6.9% y-o-y in Ottawa (led by an 8.3% increase in townhouse/row unit prices), 6% in Greater Montreal (led by a 9.1% increase in townhouse/row unit prices) and 2.5% in Greater Moncton (led by a 12.2% increase in townhouse/row unit prices). (Table 1)

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

The actual (not seasonally adjusted) national average price for homes sold in December 2018 was just over $472,000, down 4.9% from the same month in 2017. The y-o-y decline reflects how the jump in sales in December 2017 in advance of the stress test was more pronounced in more expensive markets.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $100,000 from the national average price, trimming it to just under $375,000.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca




Canadian home sales activity softens further in November

Canadian home sales activity softens further in November

Ottawa, ON, December 17, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales posted another monthly decline in November 2018.

Highlights:

  • National home sales fell 2.3% from October to November.
  • Actual (not seasonally adjusted) activity was down by 12.6% from one year ago.
  • The number of newly listed homes declined by 3.3% from October to November.
  • The MLS® Home Price Index (HPI) was up 2% year-over-year (y-o-y) in November.
  • The national average sale price retreated by 2.9% y-o-y in November.

Home sales via Canadian MLS® Systems fell by 2.3% in November 2018, adding to the decline in October of 1.7%. While the number of homes trading hands is still up from its low point in the spring, it remains below monthly levels posted from 2014 through 2017. (Chart A)

Transactions declined in just over half of all local markets, with lower activity in the Greater Toronto Area (GTA), the Greater Vancouver Area (GVA) and Hamilton-Burlington offsetting increased sales in Edmonton.

Actual (not seasonally adjusted) activity was down 12.6% y-o-y and came in below the 10-year average for the month of November. Sales were down from year-ago levels in three-quarters of all local markets, including the Lower Mainland of British Columbia, Calgary, the GTA and Hamilton-Burlington.

“National sales activity has lost a bit of momentum over the past couple of months, but local market trends can be, and very often are, different by comparison,” said CREA President Barb Sukkau. “All real estate is local. A professional REALTOR® remains your best source for information and guidance in negotiating the purchase or sale of a home during these changing times,” added Sukkau.

“The decline in homeownership affordability caused by this year’s new mortgage stress-test remains very much in evidence,” said Gregory Klump, CREA’s Chief Economist. “Despite supportive economic and demographic fundamentals, national home sales have begun trending lower. While national home sales were anticipated to recover in the wake of a large drop in activity earlier this year due to the introduction of the stress-test, the rebound appears to have run its course.”

The number of newly listed homes fell by 3.3% between October and November, with new supply declining in roughly 70% of all local markets.

With new listings having declined by more than sales in November, the national sales-to-new listings ratio tightened slightly to 54.8% compared to 54.2% in October. This measure of market balance has remained close to its long-term average of 53.4% since the beginning of 2018.

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

Based on a comparison of the sales-to-new listings ratio with the long-term average, about 60% of all local markets were in balanced market territory in November 2018.

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

There were 5.4 months of inventory on a national basis at the end of November 2018. While this remains in line with its long-term average of 5.3 months, the number of months of inventory is well above its long-term average in the Prairie provinces as well as in Newfoundland & Labrador. By contrast, the measure is well below its long-term average in Ontario, New Brunswick and Prince Edward Island. In other provinces, sales and inventory are more balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2% y-o-y in November 2018. The increase is similar to gains posted since July. (Chart B)

Apartment units posted the largest y-o-y price gains in November (+6%), followed by townhouse/row units (+4%). By comparison, one-storey single-family homes posted a modest increase (+0.4%) while two-storey single-family home prices held steady (+0.1%).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains have been steadily diminishing on a y-o-y basis in the Fraser Valley (+4.7%) and Victoria (+7.2%). By contrast, price gains picked up elsewhere on Vancouver Island (+12.6%) and, for the first time in five years, were down (-1.4%) from year-ago levels in the GVA.

Among housing markets tracked by the index in the Greater Golden Horseshoe region, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+9.3%), the Niagara Region (+7.2%), Hamilton-Burlington (+6.3%), Oakville-Milton (+3.4%) and the GTA (+2.7%). Meanwhile, home prices in Barrie and District remain below year-ago levels (-2.1%).

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.9%), Edmonton (-1.9%), Regina (-4%) and Saskatoon (-0.3%). Amid elevated supply relative to sales, the home pricing environment will remain weak in these housing markets until they become better balanced.

Home prices rose 6.6% y-o-y in Ottawa (led by a 7.3% increase in two-storey single-family home prices), 6.2% in Greater Montreal (led by a 9.4% increase in townhouse/row unit prices) and 4.2% in Greater Moncton (led by an 11.2% increase in townhouse/row unit prices). (Table 1)

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

The actual (not seasonally adjusted) national average price for homes sold in November 2018 was just over $488,000, down 2.9% from the same month last year.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $110,000 from the national average price, trimming it to just over $378,000.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 125,000 REALTORS® working through some 90 real estate Boards and Associations.

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca