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Courtesy Of
Kevin Moore Of LEGACY REAL ESTATE SERVICES

$434,900 - 2376 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4175863

Whitehill Homes 2,376 sq.ft. two story, with WALK-UP basement, triple garage, 29' driveway, and large sunny lot (588 sq. metres) backing south on to path +linear park. Bright, open floor plan with spacious living room with fireplace, sunny nook, kitchen with built-in appliances, wet bar, island and walk-through pantry (wood shelving) leading to mud room lockers and nearby 2 piece…
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Debbie Mitzner Of RE/MAX LANDAN REAL ESTATE

$400,000 - 1830 Sq.Ft

Beds
5
Baths
3.00

ACTIVE

Detached

MLS® #C4175862

3.8 Treed Acres just minutes 2 miles East from the #1 highway. This home is expansive not expensive. Total of 4 bedrooms.3 Bathrooms. Country Kitchen. Entertain Family and Friends.Master bedroom (with ensuite and walk-in closet) is massive it has a sitting area as well as patio doors opening onto green space.Drive a Little Save A Lot.45 minutes to Calgary City…
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Michelle L Eldjarnson Of RE/MAX FIRST

$659,900 - 2809 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4175859

Seller is offering the outdoor living items so you are all ready to move in! All outdoor furniture in the courtyard, fire table, outdoor dining set & play set & 1 YEAR FAMILY GOLF PASS for offers made by June 30 /18 This amazing 3 bedroom has over 2,800 sq ft of living space & a basement to be developed.…
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Michael R Laprairie Of JAYMAN REALTY INC.

$473,700 - 866 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4175858

WESTMAN VILLAGE - The Resort on Lake Mahogany.On the surface,CALLIGRAPHY might look like other condos but it's not.From Lakeside living,hand selected shops & services,24/7 on-site security & concierge service-get a lifestyle like no other & 197 more things.Plus with the all inclusive 35,000sqft amenity centre at WESTMAN VILLAGE,there are endless reasons to consider CALLIGRAPHY your new home & no reason…
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Shirley I Mikolajow Of RE/MAX FIRST

$715,000 - 1730 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4175860

UPGRADED!! Get into WILLOW PARK ESTATES NOW!! 2 storey split has ample room for a family! Super location with quick and easy access to major transportation routes, downtown, amenities! Main floor has large Living room, Dining, Kitchen with breakfast bar, lovely appliances (brand new Whirlpool dishwasher), Family Room with Pella sliding door to concrete patio and private yard, Office/Bedroom, Laundry…
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Ryck Flemmer Of CENTURY 21 FOOTHILLS REAL ESTATE

$439,900 - 1791 Sq.Ft

Beds
3
Baths
2.20

ACTIVE

Detached

MLS® #C4175857

Beautifully maintained family home with fully finished basement, tons of natural light with huge daylight windows. Excellent condition so Nothing needs doing on this super clean and tidy property. With an open concept main level featuring hardwood floor & corner gas fireplace. Super bright kitchen and nook with dark maple cabinets and access to the upper deck this home is…
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Ellen Lapierre Of REALTY 2000 INC.

$656,250

Beds
0
Baths
0.00

ACTIVE

Not specified

MLS® #C4175856

Discover Hamilton Heights, a master planned, gated community located in DeWinton, Alberta, 10 minutes south of Calgary and a 10 minute drive to Okotoks, in the Municipal District of Foothills No. 31. Hamilton Heights is situated on an 80 acre parcel of land, consisting of eighteen exclusive 2.5+ acre lots, each with a view and a private, gated entrance. As…
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Simone Rousseau Of REAL ESTATE PROFESSIONALS INC.

$879,900 - 2558 Sq.Ft

Beds
5
Baths
3.10

ACTIVE

Detached

MLS® #C4175855

PRICE REDUCED! Park living…this Evergreen Estates home backs directly onto Fish Creek Park. As you enter through the front entrance the expansive view of nature will hold your attention. The main floor includes an open concept living room, dining room, eat-in kitchen and separate den! Stainless steel appliances, granite counter tops, tile back splash and ample storage will make this…
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Jovette Morin-Ferguson Of CENTURY 21 FOOTHILLS REAL ESTATE

$189,900 - 1072 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Row House

MLS® #C4175854

Located in the inside court of the complex this FABULOUS TOWNHOUSE CONDO has a WRAP AROUND VERANDA with opportunity to enjoy the EAST AND SOUTH SUN. Open concept layout,LIGHT AND BRIGHT with large windows in living room and dining area which has SIDE ACCESS TO VERANDA. Very FUNCTIONAL u-shape kitchen. Conveniently located UPPER LEVEL LAUNDRY. FULL PRIVATE ENSUITE to each…
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Brian Skinner Of CENTURY 21 BAMBER REALTY LTD.

$569,500 - 1255 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Apartment High Rise

MLS® #C4175852

Take a look at this gorgeous 8th floor corner unit 2 bed 2 bath + den apartment at The Groves of Varsity by Statesman. This spacious Cabernet suite in the recently completed Monterey III boasts 1,255 sqft RMS open concept inside & is fully loaded with all the best options. This like new home is equipped with central A/C, 9…
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Judy Poole Of ROYAL LEPAGE BENCHMARK

$318,900 - 1199 Sq.Ft

Beds
2
Baths
1.10

ACTIVE

Row House

MLS® #C4175847

OPEN HOUSE, SATURDAY, JUNE 2ND, 1:00 TO 3:30. A stunning 2 bedroom town home in the much sought Willow Tree Village. This unit is beautifully updated and upgraded. Hardwood floors on both levels. The elegant main floor features crown mouldings, wainscot paneling, updated base & door casings, new windows and new exterior doors. The kitchen has glass tile back splash,…
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Sam Corea Of RE/MAX HOUSE OF REAL ESTATE

$1,295,000 - 3251 Sq.Ft

Beds
5
Baths
5.10

ACTIVE

Detached

MLS® #C4175848

Custom built marvel! Located on a quiet cul-de-sac this home sits on a large pie shaped lot with an unbelievable back yard overlooking a coveted city view and vast secluded green space. With custom millwork throughout, a solarium off the main living space, a hot tub room in the walk-out basement, and an oversized triple garage (tandem) this home’s expansive…
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Courtesy Of
Ben Knopp Of RE/MAX FIRST

$199,900 - 716 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Apartment High Rise

MLS® #C4175846

Fantastic opportunity to own in a great location! This bright, open 2 bedroom unit is on the top floor and offers convenient access to all amenities, public transit, the University and COP/Winsport. Updated flooring throughout, new carpet, fresh paint, 4 pc bath, in-suite laundry, private balcony and more. Move in ready! Don't miss out! This is perfect for a first…
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Courtesy Of
Michael R Laprairie Of JAYMAN REALTY INC.

$243,575 - 565 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4175844

WESTMAN VILLAGE - The Resort on Lake Mahogany.On the surface,CALLIGRAPHY might look like other condos but it's not.From Lakeside living,hand selected shops & services,24/7 on-site security & concierge service-get a lifestyle like no other & 197 more things.Plus with the all inclusive 35,000sqft amenity centre at WESTMAN VILLAGE,there are endless reasons to consider CALLIGRAPHY your new home & no reason…
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Courtesy Of
Jovette Morin-Ferguson Of CENTURY 21 FOOTHILLS REAL ESTATE

$65,000 - 321 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4175838

A wonderful little self running and self sufficient business. The only laundromat in Nanton. Excellent building and location could be converted to retail shop, coffee shop, parlor or dispensary of recreational or medical consumers. Ideal business to bring in some extra cash. Business is well set up with automated system in place. There are 3 top load washers, 1 triple…


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Canadian home sales at five-year low in May

Canadian home sales at five-year low in May

Ottawa, ON, June 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were little changed from April to May 2018.

Highlights:

  • National home sales edged down 0.1% from April to May.
  • Actual (not seasonally adjusted) activity was down 16.2% from May 2017.
  • The number of newly listed homes rose 5.1% from April to May.
  • The MLS® Home Price Index (HPI) in May was up 1% year-over-year (y-o-y).
  • The national average sale price declined by 6.4% y-o-y in May.

National home sales via Canadian MLS® Systems remained little changed in May 2018. Having edged 0.1% lower, it marked the lowest level for national sales activity in more than five years. (Chart A)

Slightly more than half of all local housing markets reported fewer sales in May compared to April, led by the Okanagan region, Chilliwack and the Fraser Valley, together with the Durham region of the Greater Toronto Area (GTA) and Quebec City. Declines in activity were offset by gains in Calgary, Thunder Bay, Brantford, London and St. Thomas, Oakville-Milton and the Quinte Region west of Kingston. A small increase in GTA sales also supported the national tally.

Actual (not seasonally adjusted) activity was down 16.2% compared to May 2017 and reached a seven-year low for the month. It also stood 5.5% below the 10-year average for the month of May. Activity came in below year-ago levels in about 80% of all local markets, led overwhelmingly by those in and around the Lower Mainland of British Columbia and the Greater Golden Horseshoe (GGH) region in Ontario.

“The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment is continuing to suppress sales activity,” said CREA President Barb Sukkau. “The extent to which it is sidelining home buyers varies among housing markets and price ranges. 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,” said Sukkau.

“This year’s new stress-test became even more restrictive in May, since the interest rate used to qualify mortgage applications rose early in the month,” said, Gregory Klump, CREA’s Chief Economist. “Movements in the stresstest interest rate are beyond the control of policy makers. Further increases in the rate could weigh on home sales activity at a time when Canadian economic growth is facing headwinds from U.S. trade policy frictions.”

The number of newly listed homes rose 5.1% in May but remained below year-ago levels. New listings rose in about three-quarters of all local markets, led by Edmonton, Calgary, Montreal, Quebec City, Ottawa and the GTA.

With new listings up and sales virtually unchanged, the national sales-to-new listings ratio eased to 50.6% in May compared to 53.2% in April and stayed within short reach of the long-term average of 53.4%.

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; however, the range consistent with balanced market conditions varies among local markets.

For that reason, considering the degree and duration that market balance readings are above or below their 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 their 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, about two-thirds of all local markets were in balanced market territory in May 2018.

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 5.7 months of inventory on a national basis at the end of May 2018. While this marks a three-year high for the measure, it remains near the long-term average of 5.2 months.

The Aggregate Composite MLS® HPI was up 1% y-o-y in May 2018, marking the 13th consecutive month of decelerating y-o-y gains. It was also the smallest y-o-y increase since September 2009. (Chart B)

Decelerating y-o-y home price gains largely reflect trends among Greater Golden Horseshoe (GGH) housing markets tracked by the index. While home prices in the region have stabilized and begun trending higher on a monthly basis, rapid price gains recorded one year ago have contributed to deteriorating y-o-y price comparisons. If recent trends remain intact, year-over-year comparisons will likely improve in the months ahead.

Apartment units again posted the largest y-o-y price gains in May (+12.7%), followed by townhouse/row units (+4.9%). By contrast, one-storey and two-storey single family home prices were down (-1.5% and -4.7% y-o-y respectively).

Benchmark home prices in May were up from year-ago levels in 8 of the 15 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly in the second half of 2016 (Greater Vancouver (GVA): +11.5% y-o-y; Fraser Valley: +20.6% y-o-y). Apartment and townhouse/row units have been largely driving this regional trend while single family home prices in the GVA have stabilized. In the Fraser Valley, single family home prices have also started rising.

Benchmark home prices were up by 11.5% on a y-o-y basis in Victoria and by 18.1% elsewhere on Vancouver Island.

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+3.8%). By contrast, home prices in the GTA, Oakville-Milton and Barrie were down from where they stood one year earlier (GTA: -5.4% y-o-y; Oakville-Milton: -5.9% y-o-y; Barrie and District: -6.3% y-o-y). This reflects rapid price growth recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were down slightly on a y-o-y basis in May (Calgary: -0.5% y-o-y; Edmonton: -0.9% y-o-y), while prices in Regina and Saskatoon were down more noticeably from year-ago levels (-6.2% y-o-y and -2.7% y-o-y, respectively).

Benchmark home prices rose by 8.2% y-o-y in Ottawa (led by a 9.5% increase in two-storey single family home prices), by 6.7% in Greater Montreal (led by a 7.3% increase in two-storey single family home prices) and by 4.3% in Greater Moncton (led by a 4.8% increase in townhouse/row unit prices). (Table 1)

The MLS® Home Price Index (MLS® HPI) provides the best way of gauging 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 May 2018 was just over $496,000, down 6.4% from one year earlier.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts more than $104,000 from the national average price to just over $391,100 and trims the y-o-y decline to 2%.

– 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. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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




CREA Updates Resale Housing Market Forecast

CREA Updates Resale Housing Market Forecast

Ottawa, ON, June 15, 2018 – The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations in 2018 and 2019.

Housing market fundamentals remain strong in many parts of the country. Nonetheless, many housing markets continue to struggle in the face of policy headwinds.

The new mortgage stress test announced last October had been expected to cause homebuyers to rush purchases in advance of the new rules coming into effect in January and for the “pull-forward” of sales activity to result in fewer transactions in the first half of 2018.

Evidence suggests the policy response was stronger than expected, with seasonally adjusted national home sales last December having surged to the highest level ever recorded before dropping sharply in early 2018.

Actual (not seasonally adjusted) national sales figures for March, April and May are typically among the most active months in any given year. Combined sales fell to a nine-year low for the three-month period. The seasonally adjusted trend suggests sales momentum has not yet begun to rally.

Interest rates are widely expected to rise further this year and next. Home sales activity is nonetheless still expected to strengthen modestly in the second half of 2018 as housing market uncertainty diminishes.

Taking these factors into account, the national sales forecast has been revised downward and is now projected to decline by 11% to 459,900 units this year. The decrease almost entirely reflects weaker sales in B.C. and Ontario amid heightened housing market uncertainty, provincial policy measures, high home prices, ongoing supply shortages and this year’s new mortgage stress test.

The national average price is projected to ease to $499,100 this year. This is little changed from CREA’s previous forecast and a decline of 2.1% from 2017. Only Newfoundland and Labrador’s average price is expected to post a decline of that size, while more than half of all provinces are forecast to see increases. The national average price reduction reflects fewer transactions in B.C. and Ontario.

The average price decline forecasted for Ontario (-1.7%) largely reflects fewer higher-priced home sales in Toronto, particularly during the important spring market which usually sees a seasonal jump in the average price but which failed to materialize this year. While this seasonal pattern is expected to resume in 2019, the boost to the annual figure from the spring surge has been absent this year.

Meanwhile, home prices in Eastern Ontario, Quebec, New Brunswick, Nova Scotia and Prince Edward Island are expected to continue rising following steadily firming market conditions in recent years. British Columbia is also now forecast to see its average price rise in 2018, as prices in the province have been more resilient than previously expected.

Home prices are forecast to edge down by 1% in Alberta, by 1.5% in Saskatchewan and by 2.9% in Newfoundland and Labrador. In the latter two provinces, supply remains historically elevated in relation to demand.

In 2019, national sales are forecast to rebound modestly to 474,800 units but remain below annual levels recorded in 2014 through 2017. The anticipated partial recovery in sales over the second half of 2018 from deferred purchases over the first half of the year in Ontario and B.C. is subsequently expected to fade over 2019 as interest rates continue to rise. This trend is also predicted to occur in other provinces but be most pronounced in B.C. and Ontario, where transactions have fallen sharply over the first half of 2018 despite a supportive economic and demographic backdrop for housing demand.

The national average price is also forecast to rebound by 3.8% to $518,300 in 2019, reflecting an expected return to normal seasonal patterns for spring sales activity and prices in Ontario housing markets. Indeed, the MLS® Home Price Index is rising among urban centres in B.C. and Ontario.

Market balance is continuing to firm in Quebec, New Brunswick, Nova Scotia and Prince Edward Island. Further modest price increases in these provinces are forecast in 2019, with price gains held in check by rising interest rates. Meanwhile, prices in Alberta, Saskatchewan, Manitoba and Newfoundland and Labrador are forecast to remain stable from 2018 to 2019.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

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




Canadian home sales fall in April

Canadian home sales fall in April

Ottawa, ON, May 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales fell from March to April 2018.

Highlights:

  • National home sales fell 2.9% from March to April.
  • Actual (not seasonally adjusted) activity was down 13.9% from April 2017.
  • The number of newly listed homes declined 4.8% from March to April.
  • The MLS® Home Price Index (HPI) in April was up 1.5% year-over-year (y-o-y).
  • The national average sale price declined by 11.3% y-o-y in April.

National home sales via Canadian MLS® Systems declined by 2.9% in April 2018 to the lowest level in more than five years (Chart A). About 60% of all local housing markets reported fewer sales, led by the Fraser Valley, Calgary, Ottawa and Montreal.

Actual (not seasonally adjusted) activity was down 13.9% compared to April of last year and hit a seven-year low for the month. It also stood 6.9% below the 10-year average for the month. Activity was below year-ago levels in about 60% of all local markets, led overwhelmingly by the Lower Mainland of British Columbia and by markets in and around Ontario’s Greater Golden Horseshoe (GGH) region.

“The stress-test that came into effect this year for homebuyers with more than a twenty percent down payment continued to cast its shadow over sales activity in April,” said CREA President Barb Sukkau. “Its impact on housing markets varies by region,” she 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 Sukkau.

“This year’s new stress test has lowered sales activity and destabilized market balance for housing markets in Alberta, Saskatchewan and Newfoundland and Labrador Provinces,” said Gregory Klump, CREA’s Chief Economist. “This is exactly the type of collateral damage that CREA warned the government about. As provinces whose economic prospects have faced difficulties because they are closely tied to those of natural resources, it is puzzling that the government would describe the effect of its new policy as intended consequences.”

The number of newly listed homes declined 4.8% in April. Having reached a nine-year low for the month, new listings stood 12% below the 10-year monthly moving average.

With sales having fallen by less than new listings, the national sales-to-new listings ratio firmed slightly to 53.7% in April compared to 52.6% in March. The long-term average for the measure is 53.4%.

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; however, the range consistent with balanced market conditions varies at the local market level.

For that reason, considering the degree and duration that market balance readings are above or below their 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 their 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, about 60% of all local markets were in balanced market territory in April 2018.

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 5.6 months of inventory on a national basis at the end of April 2018, the highest level since September 2015. The long-term average for the measure is 5.2 months.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 1.5% y-o-y in April 2018. This marks one full year of decelerating y-o-y gains. It was also the smallest y-o-y increase since October 2009. (Chart B)

Decelerating y-o-y home price gains largely reflect trends among GGH housing markets tracked by the index. Home prices in the region have stabilized and have begun trending higher on a monthly basis; however, rapid price gains recorded one year ago have contributed to deteriorating y-o-y price comparisons.

Apartment units again posted the largest y-o-y price gains in April (+14.7%), followed by townhouse/row units (+6.5%). By contrast, one-storey and two-storey single family home prices were down (-1.1% and -4.8% y-o-y respectively).

With this release, housing market coverage for MLS® HPI now includes Barrie and District. Benchmark home prices in April were up from year-ago levels in 9 of the 15 markets tracked by the index.

Composite benchmark home prices in the Lower Mainland of British Columbia continue to trend upward after having dipped briefly in the second half of 2016 (Greater Vancouver (GVA): +14.3% y-o-y; Fraser Valley: +22.7% y-o-y). Apartment and townhouse/row units have been largely driving this regional trend while single family home prices in the GVA have stabilized. In the Fraser Valley, single family home prices have now also begun to rise.

Benchmark home prices continued to rise by about 14% on a y-o-y basis in Victoria and by about 20% elsewhere on Vancouver Island.

Within the GGH region, price gains have slowed considerably on a y-o-y basis but remain above year-ago levels in Guelph (+5.9%). By contrast, home prices in the Greater Toronto Area (GTA), Oakville-Milton and Barrie and District were down from where they stood one year earlier (GTA: -5.2% y-o-y; Oakville-Milton: -8.7% y-o-y; Barrie and District: -8.4% y-o-y). This reflects rapid price gains recorded one year ago and masks recent month-over-month price gains in these markets.

Calgary and Edmonton benchmark home prices were again little changed on a y-o-y basis (Calgary: +0.1% y-o-y; Edmonton: -0.9% y-o-y), while prices in Regina and Saskatoon remained down from year-ago levels (-6.5% y-o-y and -3.4% y-o-y, respectively).

Benchmark home prices rose by 8.4% y-o-y in Ottawa (led by a 9.4% increase in two-storey single family home prices), by 6.3% in Greater Montreal (led by a 7.3% increase in two-storey single family home prices) and by 4.2% in Greater Moncton (led by a 5.6% increase in one-storey single family home prices). (Table 1)

The MLS® HPI provides the best way of gauging 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 April 2018 was just over $495,000, down 11.3% from one year earlier.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts more than $109,000 from the national average price to just under $386,100 and trims the y-o-y decline to 4.1%.

– 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