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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Natalie Berthiaume Of CIR REALTY

$419,900 - 1672 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4233886

This beautiful home is available in the very desirable community of Coopers Crossing. With a double heated attached garage, you can have a comfortable workshop year round. The main floor offers a fantastic open plan with Hardwood flooring + ceramic tile. The kitchen is open + bright with a corner pantry + a fantastic induction stove…honestly, induction is the best!…
Active

Courtesy Of
Tauseef Chughtai Of RE/MAX COMPLETE REALTY

$309,987 - 1117 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4233955

This Bright & Comfortable 2 storey house with a Finished Basement is so conveniently located that you will never feel being far from amenities like LRT, Bus Stops, Schools, Superstore, Safeway, Shopping Centres, Restaurants, Banks, Genesis Centre, etc. . Main floor offers a Spacious Living Room / Dining Room, Kitchen with Eating area and a half Washroom. Upstairs you will…
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Courtesy Of
Heather Dougall Of ROYAL LEPAGE BENCHMARK

$499,900 - 1520 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4233778

This move in ready walkout bungalow has close to 3000 sq ft of living space with two bedrooms PLUS a spacious den on the main. As you enter you will be greeted by beautiful hardwood and an abundance of windows looking onto wide open space.You will love the views with the canal behind you and the golf course in front.…
Active

Courtesy Of
Jonathan P Salois Of CIR REALTY

$353,000 - 1421 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4233026

**Seller is offering to pay the first 10 months of condo fees!** Located on the TOP FLOOR, this CORNER UNIT offers 1,421sq ft of living space with wonderful views onto Fish Creek Park! Out the back of the building is a park-like setting with ponds, a fountain, bridges, and walking paths to enjoy. With 2 bedrooms; 2 full baths (one…
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Courtesy Of
Chris Doehner Of MAXWELL SOUTH STAR REALTY

$469,000 - 2700 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4233877

This is an upscale diner in a great location surrounded by retail, offices and industrial warehouses. Lots of traffic by the door. The name will be sold with the business as a clientele has been built up since it opened. There’s potential for a 20 – 30 seat patio on the east side (Landlord has given OK – just needs…
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Courtesy Of
Vijay Thankey Of RE/MAX REALTY PROFESSIONALS

$225,000 - 1037 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4233543

Location! Location! Location! Excellent Business opportunity to own your own Franchise business in SW Calgary in a very busy shopping centre. Very upscale neighborhood. Turn key franchise Operation with a proven history. A very good mix of tenants in the centre. Major Stores and Movie theaters are here as well. Call and make an appointment to view this opportunity before…
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Courtesy Of
Michael Sherrard Of REDLINE REAL ESTATE GROUP INC.

$529,900 - 2140 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4233756

* FREE CAR WITH PURCHASE - BUYER GETS MULTIPLE OPTIONS * Backing onto trees and the environmental reserve in Sheep River valley! This tranquil location offers the utmost privacy with walking paths, ponds, and trails outside your back door, which begins with a huge deck comprised of duradeck & aluminum railings. FRESHLY PAINTED THROUGHOUT + NEW CARPET and lighting. Upon…
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Courtesy Of
Jamie Newton Of RE/MAX FIRST

$497,000 - 1059 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4228887

This brand-new exclusive bungalow villa built by award winning Calbridge Homes is sure to impress. Enjoy main floor living with a bright, expansive open floor plan, vaulted ceilings starting at 9', laundry room, & a master suite boasting spa-like ensuite with double vanities, granite counters & spacious walk-in closet. Walk in the front door and you’ll love how the over-sized…
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Courtesy Of
Brenda Parai Of RE/MAX REALTY PROFESSIONALS

$549,900 - 1612 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4233592

*Open House Sat March 23, 3-5pm* Upgraded & well kept family home located on a corner lot in desirable Strathcona Park. Bright kitchen with white shaker cabinets, pantry, moveable island & stainless steel appliances including updated range & dishwasher. Kitchen opens onto the family room with gas fireplace. Dining room, living room & powder room complete the main level. Upper…
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Courtesy Of
Sam Olschewski Of RE/MAX FIRST

$419,000 - 954 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4233815

Completely updated! Enjoy summer in the private outdoor oasis with extensive landscaping, two tiered deck with SW exposure & playground out your back gate! Updates include new paint through out, kitchen expansion with breakfast bar, lighting, finishing, triple pane windows on main floor, dual sliding patio door, lower bathroom, concrete sidewalk from house to garage, brand new fence, garden borders…
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Courtesy Of
Chris Doehner Of MAXWELL SOUTH STAR REALTY

$599,000 - 21500 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4233873

Unbelievable price for a very successful iconic sports bar operation in Edmonton. Ready for the marketing ideas and energy of a new owner. Not a franchise so the concept can be re-branded if desired. NOTE: the address is fake to ensure confidentiality. A NDA is required for further disclosure.
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Courtesy Of
Debbie A Windle Of ROYAL LEPAGE SOLUTIONS

$474,900 - 1771 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4233560

This fabulous fully finished 2 storey home sits on one of the best streets in Douglas Glen. It boasts brand new quartz countertops, new backsplash, laundry hookups on the main floor and in the basement, central air conditioning, newer shingles and a beautifully landscaped private backyard with 2 tiered deck, stamped concrete walkway/patio and lovely gardens. The Family Room features…
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Courtesy Of
Angela Els Of RE/MAX REAL ESTATE (CENTRAL)

$479,000 - 1605 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4233932

Huge 5 level split (2380 sq/ft) on massive lot in a quiet cul-de-sac. Walk into your open concept main floor through the front entry or your double car garage and be greeted by a gally kitchen and dining area with patio doors onto your back VINYL deck. Go up a floor into your huge bonus area with high vaulted ceilings…
Active

Courtesy Of
Jessica Chan Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$325,000 - 1409 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4233921

This amazing 1410 Sq.Ft. 2 Storey Fully Finished Townhouse that backs onto a Green space and is only Minutes away from Beautiful Pathways, Parks, Shopping and all other Amenities! This Open Concept 3 Bedrooms, 2.5 Baths Home Features Hardwood Floors on Main and Upper, Spacious Living Room w/ Gas Fireplace, Large Kitchen w/ Tile Floors, Stainless Steel Appliances, Gas Range,…
Active

Courtesy Of
Dave L Nicholson Of RE/MAX HOUSE OF REAL ESTATE

$214,750 - 1025 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Row House

MLS® #C4233793

Welcome Home! All you need to bring is your clothes, this 3 bedroom 1 1/2 bath home comes fully furnished including dishes, pots, pans & linens. Perfectly located within walking distance of the C Train, shopping & Peter Lougheed Hospital. Close to playground and schools. Main floor features a nice sized living room, kitchen with breakfast nook and a 2…


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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




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