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Available

100 6220 Orr Drive

$197,500

3 Br | 2 Ba

Single Family

Great value in this 3 bedroom condo on a quiet street close to all amenities. Main floor features cozy living room, spacious kitchen/dining room, office nook and 2 piece bathroom. Vaulted ceilings and neutral colours complimented by all laminate and lino flooring, no carpets throughout the home! 3 bedrooms on the lower level including a good sized master with loads…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0154387
Available

12 Richards Close

$334,900

5 Br | 2 Ba

Single Family

Your search for a 5 bedroom family home with a garage in a quiet close ends at 12 Richards Close! Extensively updated bilevel is turnkey ready with laminate and lino flooring on the main level. Spacious kitchen has functional island with loads of cabinets and dining area that opens onto east facing deck. 3 bedrooms up including a master and…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0154389
Available

7 Kerry Wood Mews

$229,900

2 Br | 4 Ba

Single Family

Fantastic value in this 2 story townhouse with all outside condo amenities in a very well kept development. Main level has good sized living room and kitchen/dining area that backs onto south exposure deck. Upper level features 2 oversized bedrooms, each with their own ensuite and walk in closets. Walkout basement has family room and additional 2 piece bathroom. Single…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0154099
Available

31 Griffiths Avenue

$249,900

5 Br | 2 Ba

Single Family

Glendale bilevel, built wheelchair accessible throughout including electric elevator from street level to main floor. All hallways and door openings engineered for handicap use. Vinyl windows in kitchen and living room, currently the washer/dryer is on upper level but there are hookups in basement laundry room as well. No carpet on either level, all laminate and tile. Master bedroom has…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0154139
Available

81 2000 Minto Street

$55,000

3 Br | 1 Ba

Single Family

Affordable mobile in Penhold, minutes walk to stores and schools. This home has had a complete renovation inside and out in the last 4 years. Interior has been drywalled and painted, new laminate and vinyl plank flooring, kitchen cabinets, new doors, exterior vinyl siding and shingles. Appliances have been updated in this very functional kitchen/dining area. 3 bedrooms including master…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0153450
Available

On Highway 20

$79,900

0 Br | 0 Ba

Vacant Land

Pristine 35 acre parcel on Highway #20 near Winfield. Excellent building sites in various locations. No services to property. Good all weather access off pavement. Heavily treed for privacy. Compare value to a municipal lot! (id:6769)
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0153049
Available

1709 30 Carleton Avenue

$259,900

2 Br | 3 Ba

Single Family

Verde Ridges' finest model the Viridian, check out this clean one owner end unit with a fenced side yard. Location makes this one a winner, just steps from the retail and restaurant district and new schools in close proximity. Parking stall is right out the front door with adjacent visitor parking. Excellent floor plan on both levels, starting with the…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0151734
Available

143 Vickers Close

$349,900

4 Br | 3 Ba

Single Family

Avalon built bungalow situated in a quiet close close to all amenities. Green built home has high efficiency furnace, argon low e windows, HRV unit and polystyrene insulation on all exterior walls. Living room on main level has gas fireplace with stone surround with office nook just off front entry. Kitchen has gorgeous cabinets, granite countertops with all appliances in…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0148759
Available

48 45 Ironstone Drive

$257,500

3 Br | 2 Ba

Single Family

Ironcreek Villas townhouse condo with attached garage in excellent condition. Newer laminate flooring in living room, lino in kitchen. Large kitchen island with loads of kitchen cabinets, all appliances included. Gas fireplace with tile surround with media niche above. Spacious laundry room doubles as storage on main level. Upper level in this condo has 3 bedrooms including large master with…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0138830
Available

1934 21 Avenue

$164,900

3 Br | 2 Ba

Single Family

Across from the Delburne Community Gardens & on a spacious lot w/ apple trees, lilac bushes & lots of perennials, you will find a bungalow that is perfectly sized for a growing family! Over the years, there have been some notable updates: Big window in living room & kitchen too, new garden doors with b/I blinds, new counter tops in…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0124564
Available

4 6338 58 Avenue

$114,900

2 Br | 1 Ba

Single Family

Perfect Investment property or first time buyers on a budget. Extensive renovations throughout the unit including vinyl windows and new doors, tile backsplash ,new kitchen sink, window blinds and a second hot water tank. The main floor has a good sized living room with carpet in excellent condition, kitchen/dining room with shiny ceramic tile and galley style kitchen. Off the…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0130075
Available

4624 Womacks Road

$247,500

4 Br | 3 Ba

Single Family

Fantastic value in this fully developed 4 level split home minutes walk from Iron Ridge school and community fitness center/swimming pool Abbey Centre! Green space across the street with fenced water collection pond eliminates most street parking in the area. Main level has spacious living room, kitchen/dining area with garden doors leading to deck off the west side. Upper level…
Brokerage: Royal Lepage Network Realty Corp.
Realtor: Kevin Glover
MLS® #: ca0143539
Active

378052 Tiki Ranch PL W

$329,500

0 Br | 0 Ba

Vacant Land

OUTSTANDING 3 ACRE LOT with BEAUTIFUL MOUNTAIN/VALLEY VIEWS situated in TIKI RANCH subdivision. Convenient location to TOWN AMENITIES. DRILLED WELL (8 gpm per last well report). UTILITIES TO PROPERTY. THIS DESIRABLE LOT OFFERS THE BEST OF BOTH WORLDS - COUNTRY LIVING ALONG WITH TOWNCONVENIENCES! NOTE: Lot is within Okotoks annexation boundary. GST may be applicable. (id:6769)
Brokerage: RE/MAX FIRST
Realtor: Sheryl Lauinger
MLS® #: C4223491
Active

9754 63

$383,900

5 Br | 3 Ba

Single Family

Clean, very well kept 4 level split in desirable Country Club West. The house features a spacious kitchen with large windows for sunlight and open living room with vaulted ceilings throughout the main level. Upstairs features 3 bedrooms with a large master and ensuite. The 3rd level has a family room with gas fireplace, built in bookshelves and speakers. The…
Brokerage: Grassroots Realty Group Ltd.
Realtor: Angela Gillon
MLS® #: GP202106
Active

209-105 TITANIUM WAY

$1,250

0 Br | 0 Ba

Office

Affordable office space in the up & coming Titanium Way Business Park located just 5 minutes from downtown. This 960 sq. ft. second floor unit offers an open concept working space with lots of windows allowing for natural light, an exclusive deck, a bathroom and a kitchen area. Additional features include private entrance, designated parking, mail box onsite, storage space…
Brokerage: COLDWELL BANKER REDWOOD REALTY
Realtor: James Lopushinsky
MLS® #: 11907
7982 others, view more

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Canadian home sales fall further in December

Canadian home sales fall further in December

Ottawa, ON, December 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: [email protected]




Canadian home sales activity softens further in November

Canadian home sales activity softens further in November

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

Highlights:

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

– 30 –

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

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

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

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

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

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: [email protected]




Canadian home sales activity eases in October

Canadian home sales activity eases in October

Ottawa, ON, November 15, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between September and October 2018.

Highlights:

  • National home sales fell 1.6% from September to October.
  • Actual (not seasonally adjusted) activity was down by 3.7% from one year ago.
  • The number of newly listed homes eased 1.1% from September to October.
  • The MLS® Home Price Index (HPI) was up 2.3% year-over-year (y-o-y) in October.
  • The national average sale price slipped by 1.5% y-o-y in October.

Home sales via Canadian MLS® Systems edged back by 1.6% in October 2018. While activity is still stronger compared to the first half of 2018, it remains below monthly levels recorded from early 2014 through 2017. (Chart A)

Transactions declined in more than half of all local markets, led by Hamilton-Burlington, Montreal and Edmonton. Although activity did improve modestly in many markets, it was offset by a decline in sales elsewhere by a factor of two.

Actual (not seasonally adjusted) activity was down 3.7% compared to October 2017 and in line with the 10-year average for the month. While sales were down y-o-y in slightly more than half of all local markets in October, lower sales in Greater Vancouver and the Fraser Valley more than offset the rise in sales in the Greater Toronto Area (GTA) and Montreal by a wide margin.

“This year’s new mortgage stress-test has lowered how much mortgage home buyers can qualify for across Canada, but its effect on sales has varied somewhat depending on location, housing type and price range,” said CREA President Barb Sukkau. “All real estate is local. A professional REALTOR® is your best source for information and guidance in negotiating a purchase or sale of a home during these changing times,” added Sukkau.

“National sales activity lost momentum in October,” said Gregory Klump, CREA’s Chief Economist. “In part, this reflects waning activity among some urban centers in Ontario’s Greater Golden Horseshoe region and the absence of an offsetting rise in sales in the Lower Mainland of British Columbia. Even so, the balance between sales and listings in these regions points to stable prices or modest gains. By contrast, the balance between sales and listings for housing markets in Alberta, Saskatchewan and Newfoundland indicates a weak pricing environment for homeowners who are looking to sell.”

The number of newly listed homes edged down 1.1% between September and October, led by the GTA, Calgary and Victoria. The decline in new supply among these markets more than offset an increase in new supply in Edmonton and Greater Vancouver.

As for the balance between sales and listings, the national sales-to-new listings ratio in October came in at 54.2% — close to September’s reading of 54.4% and its long-term average of 53.4%.

Considering the degree and duration to which market balance readings are above or below their long-term average is the best way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance 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 October 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 5.3 months of inventory on a national basis at the end of October 2018. While this remains in line with its long-term national average, the number of months of inventory is well above its long-term average in the Prairie provinces and in Newfoundland & Labrador. By contrast, Ontario and Prince Edward Island are the two provinces where the measure remains

more than one standard deviation below its long-term average. In other provinces, the number of months of inventory is closer to its long-term average and suggests that sales and inventory are well balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.3% y-o-y in October 2018 with similar gains posted in each of the three previous months. (Chart B)

Apartment units posted the largest y-o-y price gains in October (+7.4%), followed by townhouse/row units (+3.9%). By comparison, one-storey single-family homes posted a modest increase (+0.6%) while two-storey single-family home prices held steady.

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains have been diminishing on a y-o-y basis (Greater Vancouver: +1%; Fraser Valley: +6.8%; Victoria +8.5%; elsewhere on Vancouver Island: +11.8%).

By contrast, MLS® HPI benchmark price comparisons are improving on a y-o-y basis among housing markets in the Greater Golden Horseshoe region that are tracked by the index. Home prices were up from year-ago levels in Guelph (+9.3%), Hamilton-Burlington (+6.8%), the Niagara Region (+6.3%), the GTA (+2.6%) and Oakville-Milton (+2.2%). While home prices in Barrie and District remain slightly below year-ago levels (-0.9%), declines there are shrinking; if current price momentum persists, home prices in December are on track to turn positive compared to December 2017.

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.6%), Edmonton (-2.4%), Regina (-3.6%) and Saskatoon (-0.9%).

Home prices rose by 6.6% y-o-y in Ottawa (led by a 7.4% increase in two-storey single-family home prices), by 6.3% in Greater Montreal (led by a 9.8% increase in townhouse/row unit prices) and by 4.2% in Greater Moncton (led by a 12.4% 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 October 2018 was just under $496,800, down 1.5% from the same month last year.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $114,000 from the national average price, trimming it to just under $383,000.

– 30 –

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

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

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

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. 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: [email protected]