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Amar Calgary RealtorAbout Amar – Calgary Realtor

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Courtesy Of
Thomas Koh Of CIR REALTY

$1,250,000 - 2324 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4164219

NICE GAS STATION WITH CONVENIENCE STORE AND VACANT SPACE. THERE ARE A LOT OF POTENTIAL. NEW DOUBLE WALL FIBER GLASS TANK. YOU CAN PUT ONE MORE BUSINESS IN THE VACANT SPACE, WHICH IS FORMER RESTAURANT. THERE IS STILL KITCHEN.
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Courtesy Of
Justin Havre Of RE/MAX FIRST

$775,000 - 2039 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4167228

Welcome to 8 East Ridge Gate! This gorgeous bungalow with optimum southern exposure located far from the hustle and bustle of the city and enjoy the peaceful surroundings. The living room, dining room, kitchen and family room are all nicely positioned for a quiet night at home, a family gathering or a big party! A chef's kitchen with generous food…
Active

Courtesy Of
Trenton Pittner Of LEGACY REAL ESTATE SERVICES

$199,900 - 1114 Sq.Ft

Beds
4
Baths
1.10

ACTIVE

Row House

MLS® #C4167225

HOME SWEET HOME! Very well maintained home is a perfect for a young family & is likely the nicest unit in the complex. BRIGHT & CLEAN throughout with tons of windows, beautiful laminate flooring & several features worth bragging about. OPEN CONCEPT kitchen with loads of cupboard & counter space. Convenient 1/2 bath just steps away. Large living room is…
Active

Courtesy Of
Eric Mortimer Of MAXWELL CAPITAL REALTY

$230,000 - 1079 Sq.Ft

Beds
1
Baths
1.10

ACTIVE

Apartment High Rise

MLS® #C4167169

Welcome to ‘Easy Street” and the downtown lifestyle, where the world (or at least Calgary) is at your feet. Live your dream in this sunny, spacious, south facing unit with a perfect layout. Not only are restaurants, shopping, entertainment and transportation at your doorstep, so too are the amenities to keep your fit and help you entertain. Along with the…
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Courtesy Of
Shayne E Pardee Of REAL ESTATE PROFESSIONALS INC.

$389,000 - 1514 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Semi Detached

MLS® #C4165921

OPEN HOUSE SUNDAY 2-4PM!This home has it all! A fully developed home offers more than 2200 square feet of living space. The open concept main level is bright and spacious with hardwood style laminate flooring. As you walk in the kitchen there is a raised breakfast bar island, a huge pantry all open to the dining room & living room…
Active

Courtesy Of
Peter Nam Of RE/MAX REALTY PROFESSIONALS

$1,700,000 - 8000 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Industrial

MLS® #C4167112

Car wash for sale in Lacombe, AB. 6 barn bays and 2 large truck bays! Great exposure! Many new upgrades are done inside and out including hot water tank, lightings, security camera and so on. There is a manager suite upstairs. Great value! Please do not approach the staff without appointment.
Active

Courtesy Of
Donna M Delaney Of CIR REALTY

$599,000 - 1873 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4167215

A wonderful opportunity to own in one of SE Calgary's most desirable neighbourhoods, nestled on the fringes of Fish Creek Park - Parkland. This beautiful renovated home, positioned on an extensive lot presents almost 3000 SqFt of developed space and offers many recent renovations. A stunning new kitchen with stainless steel appliances, quartz counters, tiled backsplash and enormous island offering…
Active

Courtesy Of
Cheryl Bryk Of CIR REALTY

$184,900 - 819 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4165993

Conveniently located in Varsity in an ultra quiet 18+ building, this unit shows 10/10 and total pride of ownership. With many recent and tasteful upgrades including brand new carpet, commercial linoleum, moldings and finishings, it's move-in ready and priced right! Practical, well designed layout maximizes living space while creating a home that is inviting, spacious and bright. Gorgeous kitchen is…
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Courtesy Of
Ray Blanchette Of SUTTON GROUP CANWEST

$439,900 - 710 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4166771

PRIME TOP FLOOR LOCATION WITH UNOBSTRUCTED, PANORAMIC VIEWS OF FISH CREEK PARK AND DOWNTOWN CALGARY!! BARELY LIVED IN AND IN IMMACULATE CONDITION! UPGRADES INCLUDE HARDWOOD FLOORS, QUARTZ COUNTER TOPS, STAINLESS STEEL APPLIANCES, MOSAIC TILE BACK SPLASH, 9' CEILINGS WITH POT LIGHTS, VAULTED CEILING OVER THE BALCONY AND 2 WALL MOUNTED TVS. OTHER FEATURES INCLUDE IN SUITE LAUNDRY, ONE TITLED UNDERGROUND…
Active

Courtesy Of
Shamsul Rahmani Of URBAN-REALTY.ca

$314,999 - 1101 Sq.Ft

Beds
3
Baths
1.10

ACTIVE

Detached

MLS® #C4167036

Here is a clean, move-in ready house on a quite street in Martindale minutes to schools, & walking distance to public transit, minutes to Genesis Centre/YMCA (leisure Centre - swimming pool, public library), parks, Crossing Park School, Nelson Mandela High School, banks, restaurants & shopping. Open view out the bay window that brings in lots of natural light! Well-kept house,…
Active

Courtesy Of
Andre E D'Abadie Of CENTURY 21 ELEVATE REAL ESTATE

$259,900 - 903 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4167233

Second floor unit!! 2 Bed/2 bath! This spotless home shows like new. Well designed layout featuring an open concept living room, dining room and kitchen. Includes fridge, stove dishwasher and OTR-Microwave, Lots of Cabinet space and eating bar. The master ensuite features a large open concept closet space and enough space for a king sized bed. There is in-suite laundry…
Active

Courtesy Of
Serghei Cicala Of CENTURY 21 SUMMIT REALTY

$799,900 - 2465 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4161255

BEST PRICE,BEST DEAL, BEST OPPORTUNITY in the prestigious community of Mahogany! Elegance & superior design meet in this custom built 2 st, 5 bedroom house that offers over 3340SqFt of luxury living space &over 60K spent in executive upgrades!Open concept main floor plan features grand entrance,huge gourmet kitchen,enormous breakfast island,s/s high-end appliances,granite counter tops,hardwood,ceramic tile &more.Spacious dining area, massive living…
Active

Courtesy Of
Mary Ann Turrie Of RE/MAX WEST REAL ESTATE

$425,000 - 1420 Sq.Ft

Beds
4
Baths
2.00

ACTIVE

Detached

MLS® #C4166556

OPEN HOUSE SAT.1-4 From the moment you enter this home, spectacular details await you! Beautifully appointed with this open floor plan, a bright entry foyer, dramatic vaulted ceilings & spacious entertainment areas, enhance the character & charm through out. Situated on south-facing backyard in family neighborhood, this gem of a home showcases 4 levels of living & features many exciting…
Active

Courtesy Of
Tricia Croteau Of CENTURY 21 FOOTHILLS REAL ESTATE

$79,900 - 1088 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Single Wide

MLS® #C4167183

Well looked after 3 bedroom home with recent updates including flooring in front bedrooms and front bathroom, vanity and mirror. Large living room with natural light and vaulted ceiling opens up to the kitchen/nook area. The kitchen has lots of countertop space for prep work. Living room features a vaulted ceiling and a large east facing window - great for…
Active

Courtesy Of
Ross Pavl Of RE/MAX HOUSE OF REAL ESTATE

$869,000 - 2752 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4162637

Open House Saturday 3-4:30pm. You’re in for a treat with this Aspen Woods gem and its fabulous location on a quiet cul-de-sac siding private green space. This 3 bedroom, 3 bath home provides over 2774 SF of modern living space. You’ll love the contemporary design, stunning hardwood flooring and lighting finishes throughout. The open concept neutral colored main floor features…


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Canadian home sales drop in January

Canadian home sales drop in January

Ottawa, ON, February 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell sharply in January 2018.

Highlights:

  • National home sales declined by 14.5% from December 2017 to January 2018.
  • Actual (not seasonally adjusted) activity was down 2.4% year-over-year (y-o-y) in January.
  • The number of newly listed homes plunged 21.6% from December 2017 to January 2018.
  • The MLS® Home Price Index (HPI) in January was up 7.7% y-o-y.
  • The national average sale price advanced by 2.3% y-o-y.

Home sales via Canadian MLS® Systems dropped sharply in January after having climbed to the highest monthly level on record in December. Although activity retreated to the lowest monthly level in three years, January sales were on par with the 10-year monthly average.

Activity in January was down in three-quarters of all local markets in Canada, including virtually all major urban centres. Many of the larger declines in percentage terms were posted in Greater Golden Horseshoe (GGH) markets, where sales had picked up late last year following the announcement of tighter mortgage rules coming into effect in January.

Actual (not seasonally adjusted) activity was down 2.4% from January 2017 and stood close the 10-year average for the month of January. Sales came in below year-ago levels in about half of all local markets, led by those in the GGH region. By contrast, sales were up on a y-o-y basis in the Lower Mainland of British Columbia and Vancouver Island, the Okanagan Region, Edmonton, Montreal, Greater Moncton and Halifax-Dartmouth.

“The piling on of yet more mortgage rule changes that took effect starting New Year’s Day has created homebuyer uncertainty and confusion,” said CREA President Andrew Peck. “At the same time, the changes do nothing to address government concerns about home prices that stem from an ongoing supply shortage in major markets like Vancouver and Toronto. Unless these supply shortages are addressed, concerns will persist,” he added. “A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Peck.

“The decline in January sales provides clear evidence that the strength in activity late last year reflected a pull-forward of transactions, as rational homebuyers hurried to purchase before mortgage rules changed in 2018,” said Gregory Klump, CREA’s Chief Economist. “At the same time, a large decline in new listings prevented market balance from shifting in favour of homebuyers.”

The number of newly listed homes plunged 21.6% in January to reach the lowest level since the spring of 2009. New supply was down in about 85% of all local markets, led by a sizeable decline in the GTA. Large percentage declines were also recorded in the Lower Mainland of British Columbia and Vancouver Island, the Okanagan Region, Hamilton-Burlington, Oakville-Milton, Kitchener-Waterloo, London and St. Thomas, Kingston and Ottawa, closely mirroring the list of markets that saw the largest sales declines in January.

With new listings having fallen by more than sales, the national sales-to-new listings ratio tightened to 63.6% in January compared to the mid-to-high 50% range to which it held since last May.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively. That said, the balanced range can vary among local markets.

For that reason, considering the degree and duration that market balance is above or below its long-term average is a better way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, a little over half of all local markets were in balanced market territory in January 2018. The ratio in many markets moved one standard deviation or more above its long-term average in January due to large declines in new supply.

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

There were 5 months of inventory on a national basis at the end of January 2018, which is close to the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI rose by 7.7% y-o-y in January 2018. This was the 9th consecutive deceleration in y-o-y gains, continuing a trend that began last spring. It was also the smallest y-o-y increase since December 2015.

The deceleration in y-o-y price gains largely reflects trends among GGH housing markets tracked by the index. While prices in the region have largely stabilized in recent months, ongoing deceleration in y-o-y comparisons reflects the rapid rise in prices one year ago.

Apartment units again posted the largest y-o-y price gains in January (+20.1%), followed by townhouse/row units (+12.3%), one-storey single family homes (+4.3%), and two-storey single family homes (+2.3%).

As was the case in December, Benchmark home prices in January were up from year-ago levels in 9 of the 13 markets tracked by the MLS® HPI.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend higher after having dipped briefly during the second half of 2016 (Greater Vancouver: +16.6% y-o-y; Fraser Valley: +22.4% y-o-y). Apartment units have been driving this regional trend in recent months, with single family home prices having stabilized.

Benchmark home prices rose by about 14% on a y-o-y basis in Victoria and by about 20% elsewhere on Vancouver Island. These gains are similar to those recorded during the fourth quarter of last year.

Price gains have slowed considerably on a y-o-y basis in the GTA, Guelph and Oakville-Milton; however, home prices in the former two markets remain above year-ago levels (GTA: +5.2% y o-y; Guelph: +10.9% y-o-y; Oakville-Milton: -1.2% y-o-y). Monthly prices in these markets have shown signs of stabilizing in recent months after having climbed rapidly in early 2017 and subsequently retreated.

Calgary benchmark home prices were down slightly (-0.5% y-o-y), as were home prices in Regina and Saskatoon (-4.9% y-o-y and -4.1% y-o-y, respectively).

Benchmark home prices rose by 7.2% y-o-y in Ottawa (led by an 8.1% increase in two-storey single family home prices), by 5.2% in Greater Montreal (led by a 6.2% increase in in two-storey single family home prices) and by 7.5% in Greater Moncton (led by an 11% increase in one-storey single family home prices).

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends are prone to being 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 2018 was just over $481,500, up 2.3% from one year earlier. The national average price is heavily skewed by sales in Greater Vancouver and Greater Toronto, two of Canada’s most active and expensive markets. Excluding these two markets from calculations trims $107,500 from the national average price, reducing it to $374,000.

– 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 120,000 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 surge in December

Canadian home sales surge in December

Ottawa, ON, January 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA), show national home sales continued to climb in December 2017.

Highlights:

  • National home sales rose 4.5% from November to December.
  • Actual (not seasonally adjusted) activity was up 4.1% year-over-year (y-o-y).
  • The number of newly listed homes climbed 3.3% from November to December.
  • The MLS® Home Price Index (HPI) in December was up 9.1% y-o-y.
  • The national average sale price advanced by 5.7% y-o-y.

Home sales via Canadian MLS® Systems posted their fifth consecutive monthly increase in December 2017, fully recovering from the slump last summer.

Activity in December was up in close to 60% of all local markets, led by the Greater Toronto Area (GTA), Edmonton, Calgary, the Fraser Valley, Vancouver Island, Hamilton-Burlington and Winnipeg.

Actual (not seasonally adjusted) activity was up 4.1% from December 2016. While activity remained below year-ago levels in the GTA, the decline there was more than offset by some sizeable y-o-y gains in the Lower Mainland of British Columbia, Vancouver Island, Calgary, Edmonton, Ottawa and Montreal.

“Monthly momentum for national home sales activity gained strength late last year and further expected economic and job growth will buoy sales activity this year despite slightly higher expected interest rates,” said CREA President Andrew Peck. “Even so, momentum for home sales differs depending on location and type,” he added. “A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times,” said Peck.

“National home sales in December were likely boosted by seasonal adjustment factors and a potential pull-forward of demand before new mortgage regulations came into effect this year,” said Gregory Klump, CREA’s Chief Economist. “It will be interesting to see if monthly sales activity continues to rise despite tighter mortgage regulations that took effect on January 1st.”

The number of newly listed homes rose 3.3% in December. As in November, the national increase was overwhelmingly due to rising new supply in the GTA.

New listings and sales have both trended higher since August. As a result, the sales-to-new listings ratio has remained in the mid-to-high 50% range since then.

A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively. That said, the balanced range can vary among local markets.

Considering the degree and duration that the current market balance is above or below its long-term average is a more sophisticated way of gauging whether local housing market conditions favour buyers or sellers.

Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with its long-term average, more than two-thirds of all local markets were in balanced market territory in December 2017.

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

There were 4.5 months of inventory on a national basis at the end of December 2017. The measure has been moving steadily lower in tandem with the monthly rise in sales that began last summer.

The number of months of inventory in the Greater Golden Horseshoe region (2.1 months) was up sharply from the all-time low reached in March 2017 (0.9 months). Even so, the December reading stood a full month below the region’s long-term average (3.1 months) and reached a seven-month low.

The Aggregate Composite MLS® HPI rose by 9.1% y-o-y in December 2017. This was the 8th consecutive deceleration in y-o-y gains, continuing a trend that began in the spring. It was also the smallest y-o-y increase since February 2016.

The deceleration in y-o-y price gains largely reflects trends among Greater Golden Horseshoe housing markets tracked by the index, particularly for single-family homes. On an aggregate

basis, only single-family price increases slowed on a y-o-y basis. By comparison, y-o-y price gains picked up for townhouse/row and apartment units.

Apartment units again posted the largest y-o-y price gains in December (+20.5%), followed by townhouse/row units (+13%), one-storey single family homes (+5.5%), and two-storey single family homes (+4.5%).

Benchmark home prices were up from year-ago levels in 9 of the 13 markets tracked by the MLS® HPI, with Calgary and Oakville-Milton price comparisons tipping slightly into negative territory on a y-o-y basis.

After having dipped in the second half of last year, composite benchmark home prices in the Lower Mainland of British Columbia have recovered and now stand at new highs (Greater Vancouver: +15.9% y-o-y; Fraser Valley: +20.9% y-o-y).

Benchmark home prices rose by about 14% on a y-o-y basis in Victoria and by about 19% elsewhere on Vancouver Island in December. These y-o-y gains were similar to those recorded in October and November.

Price gains have slowed considerably on a y-o-y basis in the GTA, Guelph and Oakville-Milton; however, home prices in the former 2 markets remain above year-ago levels (Greater Toronto: +7.2% y o-y; Guelph: +13.1% y-o-y; Oakville-Milton: -0.8% y-o-y).

Calgary benchmark home prices were down slightly in December (-0.4% y-o-y), as were home prices in Regina and Saskatoon (-4% y-o-y and -3.7% y-o-y, respectively).

Benchmark home prices rose by 6.6% y-o-y in Ottawa (led by a 7.5% increase in two-storey single family home prices), by 5.4% in Greater Montreal (led by a 6.3% increase in in two-storey single family home prices) and by 6.3% in Greater Moncton (led by an 8.3% increase in one-storey single family home prices). (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends are prone to being 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 2017 was just over $496,500, up 5.7% from one year earlier. 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 trims almost $116,000 from the national average price to just under $381,000.

– 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 120,000 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 post solid gain in November

Canadian home sales post solid gain in November

Ottawa, ON, December 14, 2017 – According to statistics released today by The Canadian Real Estate Association (CREA), national home sales rose strongly in November 2017.

Highlights:

  • National home sales rose 3.9% from October to November.
  • Actual (not seasonally adjusted) activity was up 2.6% from November 2016.
  • The number of newly listed homes climbed 3.5% from October to November.
  • The MLS® Home Price Index (HPI) was up 9.3% year-over-year (y-o-y) in November 2017.
  • The national average sale price edged up 2.9% y-o-y in November.

Home sales via Canadian MLS® Systems rose for the fourth month in a row in November 2017, up 3.9% from October. Led by a 16% jump in sales in the Greater Toronto Area (GTA), the surge in sales there accounted for more than two-thirds of the national increase. The continuing rebound put November sales activity a little over halfway between the peak recorded in March 2017 and the low reached in July.

Actual (not seasonally adjusted) activity rose 2.6% y-o-y, setting a new record for the month of November. It was the first y-o-y increase since March and was unassisted by the GTA, where activity remains down significantly from year-ago levels. A number of other large markets posted y-o-y activity gains, including Greater Vancouver and the Fraser Valley, Calgary, Edmonton, Ottawa and Montreal.

“Some home buyers with more than a twenty percent down payment may be fast-tracking their purchase decision in order to beat the tougher mortgage qualifications test coming into effect next year,” said CREA President Andrew Peck. “Evidence of this is mixed and depends on the housing market. It will be interesting to see whether December sales show further signs of home purchases being fast-tracked. A professional REALTOR® is your best source for information and guidance in negotiations to purchase or sell a home during these changing times.”

“National sales momentum remains positive heading toward year-end,” said Gregory Klump, CREA’s Chief Economist. “It remains to be seen whether stronger momentum now will mean weaker activity early next year once new mortgage regulations take effect beginning on New Years day.”

The number of newly listed homes rose 3.5% in November, which reflected a large increase in new supply across the GTA.

With sales and new listings having risen by similar magnitudes, the national sales-to-new listings ratio was 56.4% in November, remaining little changed from 56.2% reported in October. A national sales-to-new listings ratio of between 40% and 60% is generally consistent with a balanced national housing market, with readings below and above this range indicating buyers’ and sellers’ markets respectively.

That said, the balanced range for the measure can vary among local markets. Considering the degree and duration that the current market balance is above or below its long-term average is a more sophisticated way of gauging whether local housing market conditions favour buyers or sellers. (Market balance measures that are within one standard deviation of the long-term average are generally consistent with balanced market conditions).

Based on a comparison of the sales-to-new listings ratio with its long-term average, more than half of all local markets were in balanced market territory in November 2017.

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

There were 4.8 months of inventory on a national basis at the end of November 2017 – down slightly from 4.9 months in October and around 5 months recorded over the summer months, and within close reach of the long-term average of 5.2 months.

At 2.4 months, the number of months of inventory in the Greater Golden Horseshoe region is up sharply from the all-time low of 0.8 months reached in February and March. Even so, it remains below the region’s long-term average of 3.1 months.

The Aggregate Composite MLS® HPI rose by 9.3% y-o-y in November 2017. This is a further deceleration in y-o-y gains that began in the spring and the smallest increase since February 2016.

The deceleration in price gains largely reflects softening price trends in the Greater Golden Horseshoe housing markets tracked by the index, particularly for single-family homes.

Apartment units again posted the largest y-o-y gains in November (+19.4%), followed by townhouse/row units (+12.3%), one-storey single family homes (+6%), and two-storey single family homes (+5.3%).

Benchmark home prices were up from year-ago levels in 11 of the 13 markets tracked by the MLS® HPI.

After having dipped in the second half of last year, benchmark home prices in the Lower Mainland of British Columbia have recovered and now stand at new highs (Greater Vancouver: +14% y-o-y; Fraser Valley: +18.5% y-o-y).

Benchmark home prices rose by about 14% on a y-o-y basis in Victoria and by 18.5% elsewhere on Vancouver Island in November, on par with y-o-y gains in October.

Price gains have slowed considerably on a y-o-y basis in Greater Toronto, Oakville-Milton and Guelph but remain above year-ago levels (Greater Toronto: +8.4% y-o-y; Oakville-Milton: +3.5% y-o-y; Guelph: +13.4% y-o-y).

Calgary benchmark home prices remained just inside positive territory on a y-o-y basis (+0.3%), while prices in Regina and Saskatoon were down from last November (-3.5% y-o-y and -4.1% y-o-y, respectively).

Benchmark home prices rose 6.7% y-o-y in Ottawa, led by a 7.6% increase in two-storey single family home prices, by 5.6% in Greater Montreal, led by an 8.3% increase in prices for townhouse/row units, and by 4.6% in Greater Moncton, led by a 7.8% increase in one-storey single family home prices. (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging price trends because average price trends are prone to being 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 2017 was just under $504,000, up 2.9% from one year earlier. The national average price is heavily skewed by sales in Greater Vancouver and Greater Toronto, two of Canada’s most active and expensive markets. Excluding these two markets from calculations trims more than $120,000 from the national average price (to just above $381,000).

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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 120,000 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 Asso