RE/MAX Real Estate Central


Call me today: (403) 207-3242

Amar Calgary RealtorAbout Amar – Calgary Realtor

Fluent in: English, Tagalog, Punjabi, Hindi, Urdu

My commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Whether buying or selling, I invite you to contact me with any questions that you may have. My promise to you is that your experience will be both stress-free and enjoyable.

Thank you for stopping by.

The Professional Experience You Deserve

Awards - Calgary Real Estate Agent

All Listings - Calgary Real Estate

Take a look through all of our Office Listings

Order:   Filter:
Active

Courtesy Of
Xichun Cheng Of GRAND REALTY

$249,900 - 455 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4247403

This cozy 1 bedroom apartment is perfect for starter home or investment property. It is located on 13th floor with beautiful downtown view, facing south sunny and bright. The unit comes with in-suite laundry, underground parking and storage locker. Downstairs has various restaurants and shops. It is walking distance to shopping centre, supermarket, University of Calgary, LRT station, public transits…
Active

Courtesy Of
Errol Biebrick Of RE/MAX REAL ESTATE (CENTRAL)

$449,900 - 1001 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4246107

Exceptional Riesling floor plan with south west exposure in the Groves of Varsity. This like new condo features 2 bedrooms, 2 bathrooms, 2 side by side parking stalls and one of only a few units with a large south west patio. Inside of the home you will find 9' ceilings that create a truly spacious atmosphere, upgraded kitchen complete with…
Active

Courtesy Of
Kamilla Musseau Of GREATER PROPERTY GROUP

$400,000 - 2163 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4246214

Location Location Location!Buyers Alert.Come on down and check out this Beauty, which could be all yours for an unbeatable price for all it has to offer. This 2 storey home with 3 bedrooms/3 full bathrooms, and a fully landscaped lush backyard with a large deck for all your entertaining, backs onto all green space looking onto baseball,soccer fields,schools,parks and much…
Active

Courtesy Of
Christian Twomey Of RE/MAX LANDAN REAL ESTATE

$409,000 - 1137 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4245941

Welcome to Huntington Hills - A neighbourhood with a great family lifestyle! Backing directly onto a park & playground where in winter months there is an outdoor rink or walk across the street to the off leash dog park & follow it to Nose Hill Park. Large newer kitchen with LOADS of cabinet space & upgraded flooring. Enjoy your morning…
Active

Courtesy Of
Clay Brunette Of RE/MAX HOUSE OF REAL ESTATE

$445,000 - 1863 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4247498

Enjoy the Majestic Mountain Views from this gorgeous home perched at the top of Heritage Hill. Walk into an open floor plan with 9 foot ceilings & gleaming hardwood throughout. The kitchen comes complete with a center island & raised eating bar, full pantry & stainless steel appliances. Leading through the Breakfast Nook is the rear deck & stunning back…
Active

Courtesy Of
Carolyn A Joels Of SUTTON GROUP CANWEST

$185,000 - 1039 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4246215

Welcome to this spotless 2 bedroom top floor end unit 18+ condo. 1102 square foot . Kitchen features stainless steel appliances. Cut-through from kitchen into dining room. Living room has corner stone faced wood burning fireplace-perfect for special evenings with family and friends. Patio door leads out to huge private west facing balcony. Master bedroom is enormous and has corner…
Active

Courtesy Of
Doug Cabral Of ROYAL LEPAGE BENCHMARK

$199,900 - 598 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4247397

Looking to try to get your entire wish list for under 200K?! Check out this fantastic top floor, one bedroom, one bathroom condo in the SW. This unit is west facing, over looking the courtyard and has a super spacious balcony for your outdoor living. Fantastic location within the building as it's just steps to the elevator and comes with…
Active

Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$579,900 - 1994 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4247442

Stunning family home in the desirable community of Tuscany! Fully finished, across from a beautiful natural ravine, an amazing view from the front porch. Upgraded two storey in a fantastic location, on a corner lot, quick and easy access to the LRT to downtown, the new YMCA & schools, amenities & more. Bright & open floor plan. A cozy great…
Active

Courtesy Of
Allain Bonneville Of RE/MAX LANDAN REAL ESTATE

$354,900 - 1235 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4247525

Brand new paired home built by Cardel Homes. Rich natural surroundings and contemporary architecture make the south-east community of Walden a true hidden gem. 863 Walgrove Blvd SE is located in Phase 32 of this popular urban, modern, neighborhood, walking distance to parks, pathways and local amenities. This Cobalt 1 model is loaded with style. Consistent with the high-quality Cardel…
Active

Courtesy Of
Jennifer Miller Of RE/MAX FIRST

$399,900 - 1385 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4247524

This custom built Bungalow features 3 bedrooms up & 1 down, fully developed with a walkout basement that is bright & perfect for entertaining. Over 2600 sqft of total living space. Miles of outstanding unobstructed views, unbelievable sunsets, a pool, a hot tub, room for your own fire pit & private gazebo will keep everyone entertained & happy. Outstanding features…
Active

Courtesy Of
Nancy Ball Of CIR REALTY

$475,500 - 1079 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4247528

Check out this beautiful bungalow located on a quiet street with a massive 109’ x 54' foot lot. This 4 bedroom gem has many upgrades completed including original, refinished HARDWOOD FLOORING, a NEW PICTURE WINDOW that allows more NATURAL LIGHT in the living room, newer roof, furnace, & hot water tank, insulated & double garage detached (23’ x 23’) with…
Active

Courtesy Of
Karen Salmon Of REDLINE REAL ESTATE GROUP INC.

$449,500 - 1628 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4247282

Serenity abounds, inside and out! Stunning fully finished home on large corner lot. Upon entering, you'll appreciate the den that's perfect for a home office or playroom. Main floor is open concept with 9' ceilings, freshly painted and new vinyl plank flooring throughout. Kitchen features corner pantry and breakfast bar. Upstairs you'll find the master bedroom with walkin closet, ensuite…
Active

Courtesy Of
Harman Powar Of CENTURY 21 BRAVO REALTY

$498,888 - 2112 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4247529

Welcome to your new home in the community of New Brighton! As you enter the main floor, you are welcomed by 9’ ceilings, office area, and a large kitchen fit for a chef. This home boasts over 2,111+ sq.ft above grade with 3 bedrooms and 2.5 bathrooms. The main floor living room has a cantilevered fireplace, perfect for entertaining your…
Active

Courtesy Of
Mitchell Thompson Of CENTURY 21 BRAVO REALTY

$259,900 - 969 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Row House

MLS® #C4247534

GREAT LOCATION walking distance to Mt. Royal, shopping, parks and schools and less than 20 minutes from downtown! This home offers an ideal floor plan as the kitchen opens up onto the dining area and the living room. The beautiful HARDWOOD floors and NEW WINDOWS give the entire main level a bright and cozy feeling the second you walk into…
Active

Courtesy Of
Kyle Stone Of SOTHEBY'S INTERNATIONAL REALTY CANADA

$630,000 - 2276 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4247325

Immaculate Cedarglen Chinook home with lots of upgrades, a south facing yard that backs onto the Prince of Peace School field on a quiet street. What more could you want? This house comes complete with Quartz countertops, engineered hardwood floor, top up bottom down blinds, custom cabinetry, incredible lighting package, central 4 ton energy efficient A/C unit, smart thermostat, alarm…


13505 others, view more

Advanced Real Estate Solutions

My website comes packed to the brim with tons of amazing features.

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




Canadian home sales edge higher in March 2019

Canadian home sales edge higher in March 2019

Ottawa, ON, April 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales edged higher in March 2019 after having declined sharply the previous month.

Highlights:

  • National home sales edged up 0.9% month-over-month (m-o-m) in March.
  • Actual (not seasonally adjusted) activity was down 4.6% year-over-year (y-o-y).
  • The number of newly listed homes rose 2.1% m-o-m.
  • The MLS® Home Price Index (HPI) eased by 0.5% y-o-y in March.
  • The national average sale price fell 1.8% y-o-y.

Home sales via Canadian MLS® Systems edged up 0.9% in March 2019 following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years. (Chart A)

There was an even split between the number of markets where sales rose from the previous month and those where they waned. Among Canada’s larger cities, activity improved in Victoria, the Greater Toronto Area (GTA), Oakville-Milton and Ottawa, whereas it declined in Greater Vancouver, Edmonton, Regina, Saskatoon, London and St. Thomas, Sudbury and Quebec City.

Actual (not seasonally adjusted) sales activity fell 4.6% y-o-y to the weakest level for the month since 2013. It was also almost 12% below the 10-year average for March. That said, in British Columbia, Alberta and Saskatchewan, sales were more than 20% below their 10-year average for the month. By contrast, activity is running well above-average in Quebec and New Brunswick.

“It will be some time before policy measures announced in the recent Federal Budget designed to help first-time homebuyers take effect,” said Jason Stephen, CREA’s President. “In the meantime, many prospective homebuyers remain sidelined by the mortgage stress-test to varying degrees depending on where they are looking to buy. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” added Stephen.

“March results suggest local market trends are largely in a holding pattern,” said Gregory Klump, CREA’s Chief Economist. “While the mortgage stress test has made access to home financing more challenging, the good news is that continuing job growth remains supportive for housing demand and should eventually translate into stronger home sales activity pending a reduction in household indebtedness,” he added.

The number of newly listed homes rose 2.1% in March. New supply rose in about two-thirds of all local markets, led by Winnipeg, Regina, Victoria and elsewhere on Vancouver Island. By contrast, new listings declined in the GTA, Ottawa and Halifax-Dartmouth.

With new listings having improved more than sales, the national sales-to-new listings ratio eased to 54.2% from 54.9% in February. This measure of market balance has largely 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, two-thirds of all local markets were in balanced market territory in March 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 5.6 months of inventory on a national basis at the end of March 2019, in line with the February reading and one of the highest levels for the measure in the last three-and-a-half-years. Still, it is only slightly above its long-term average of 5.3 months.

Housing market balance varies significantly by region. 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 the Maritime provinces.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) declined by 0.5% y-o-y in March 2019. It last posted a y-o-y decline of similar magnitude in September 2009. (Chart B)

Among benchmark property categories tracked by the index, apartment units were the only one to post a y-o-y price gain in March 2019 (+1.1%), while townhouse/row unit prices were little changed from March 2018 (-0.2%). By comparison, one and two-storey single-family home prices were down by 1.8% and 0.8% y-o-y respectively.

As of this release, the MLS® HPI now includes home sales via Okanagan-Mainline Real Estate Board’s MLS® System, which covers communities in the Okanagan Valley from Revelstoke to the Peachland region.

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 (-7.7%) and the Fraser Valley (-3.9%). Prices also dipped slightly below year-ago levels in the Okanagan Valley (-0.8%). By contrast, prices rose by 1% in Victoria and by 6.4% 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 (+6.6%), the Niagara Region (+6.0%), Hamilton-Burlington (+3.7%) the GTA (+2.6%) and Oakville-Milton (+2.3%). 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 4.9% in Calgary, 4.4% in Edmonton, 4.6% in Regina and 2.7% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply become more balanced.

Home prices rose 7.6% y-o-y in Ottawa (led by a 10.4% increase in townhouse/row unit prices), 6.3% in Greater Montreal (led by an 8.1% increase in apartment unit prices) and 2.1% in Greater Moncton (led by a 12.9% 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 March 2019 was $481,745, down 1.8% from the same month in 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 close to $100,000 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, 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 drop sharply in February 2019

Canadian home sales drop sharply in February 2019

Ottawa, ON, March 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales dropped sharply from January to February 2019.

Highlights:

  • National home sales plummeted 9.1% month-over-month (m-o-m) in February.
  • Actual (not seasonally adjusted) activity was down 4.4% year-over-year (y-o-y).
  • The number of newly listed homes fell 3.2% m-o-m.
  • The MLS® Home Price Index (HPI) was virtually unchanged (-0.1% y-o-y).
  • The national average sale price fell by 5.2% y-o-y.

Home sales via Canadian MLS® Systems plunged 9.1% m-o-m in February 2019 to the lowest level since November 2012. The month-over-month decline was the largest recorded since the B-20 stress test came into effect in January of last year. (Chart A)

The number of homes trading hands was down from the previous month in three-quarters of all local markets, including all major cities.

Actual (not seasonally adjusted) sales activity was down 4.4% to reach the lowest level for month of February since 2009. It was also almost 12% below the 10-year February average. In British Columbia, Alberta as well as Newfoundland and Labrador, sales were more than 20% below their 10-year average for the month.

“For aspiring homebuyers being kept on the sidelines by the mortgage stress-test, it’s a bitter pill to swallow when policy makers say the policy is working as intended,” said Barb Sukkau. “Fewer qualified buyers means sellers are affected too. The impact of tighter mortgage regulations differs by local housing market and 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.

“February home sales declined across a broad swath of large and smaller Canadian cities,” said Gregory Klump, CREA’s Chief Economist. “The housing sector is on track to further reduce waning Canadian economic growth. Only time will tell whether successive changes to mortgage regulations went too far, since the impact of policy decisions becomes apparent only well after the fact. Hopefully policy makers are thinking about how to fine tune regulations to better keep housing affordability within reach while keeping lending risks in check.”

The number of newly listed homes declined by 3.2% in February, led by GTA regional municipalities that surround the City of Toronto, in addition to Hamilton-Burlington, Calgary, Edmonton and Winnipeg.

With sales down by more than new listings in February, the national sales-to-new listings ratio eased to 54.1% compared to 57.6% in January. Looking beyond its monthly volatility, this measure of market balance has remained close to the 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 70% of all local markets were in balanced market territory in February 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 5.7 months of inventory on a national basis at the end of February 2019, a three-and-a-half-year high and a little above its long-term average of 5.3 months. That said, there are 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 the Maritimes.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was little changed (-0.1%) y-o-y in February 2019. That said, it still marked the first decline in almost a decade (Chart B).

Apartment units recorded a y-o-y price increase of 2.4% in February, while townhouse/row unit prices were up 1%. By comparison, one and two-storey single-family home prices were down 1.7% and 1% y-o-y in February.

Trends continue to vary widely among the 17 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 (-6.1%) and the Fraser Valley (-2.8%). By contrast, prices posted a y-o-y increase of 3% in Victoria and were up 7.7% 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 (+6.8%), the Niagara Region (+6.5%), Hamilton-Burlington (+5%) and the GTA (+2.3%). By contrast, home prices were little changed (+0.2%) on a y-o-y basis in Oakville-Milton, while in Barrie and District prices remain below year-ago levels (-4.3%).

Across the Prairies, supply is historically elevated relative to sales and home prices are down from year-ago levels. Benchmark prices were down by 4.4% in Calgary, 4.5% in Edmonton, 5.1% in Regina and 3% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply come back into better balance.

Home prices rose 7.4% y-o-y in Ottawa (led by a 10.8% increase in townhouse/row unit prices), 6.2% in Greater Montreal (led by a 7.8% increase in apartment unit prices) and 1.6% in Greater Moncton (led by a 7.9% 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 February 2019 was $468,350, down 5.2% from the same month in 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 close to $100,000 from the national average price, trimming it to just under $371,000.

– 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