MARKET QUICK LINKS: Toronto | Calgary | Edmonton | Vancouver | Fraser Valley
We’re sitting inside the last month of 2019. With 2020 just around the corner, this is the perfect time to start analyzing today’s data for tomorrow’s results. The winter market is your opportunity to get future focused and start setting goals for next year.
I believe that you can learn a lot by studying market trends. Each of the Canadian markets below have unique traits that you can use to educate both buyers and sellers. In this month’s market update, I’m showing you 2019 at a glance, year over year data, months of inventory history and taking a detailed look at micro market data.
Study your market, understand what has happened in 2019 and it will help you conquer 2020.
Remember, it’s a beautiful life, make it count.
Richard
TORONTO, ON
We might be starting to see the effects of the winter market on Canada’s hottest real estate board. The Toronto Real Estate Board is reporting a 16.5% drop in month over month sales from 8491 in October to 7090 in November. Active listings dropped 22.2% and average price dropped slightly by 1% and sits at $844,000. Months of inventory remains in a sellers market at 1.7.
Year over year TREB is reporting much friendlier numbers. Sales are up 14.2% from this time last year and the average price is up 7% from November 2018.
Can you guess what sells 56.61% in the 905 but only 28.99% in the 416? Take a look at my new chart that shows the distinct differences between the 416 and 905 area. You can find all this data by watching my TREB Market Update video here.
Click here to download Toronto’s November market slides.
CALGARY, AB
The Calgary Real Estate Board is reporting down numbers for the month of November. This isn’t a total surprise as the market does start to generally slow down in the winter months. Month over month sales have fallen 19.8% from 1447 in October to 1160 in November. Active listings have climbed 12.5% to 5.1 and the average price has dropped slightly by 2.8% to $441,000.
Year over year, it’s almost as if nothing has happened. Sales have dropped by 1.1% and average price has dropped 0.4%. This is the difference between 13 sales and $2,000 dollars.
When taking a look at our sales breakdown and micro market data, you might be surprised at how strong the detached market is in Calgary. To see all of the numbers in greater detail, take a look at my Calgary Real Estate Board Market Update video here.
Click here to download Calgary’s November market slides.
EDMONTON, AB
The REALTORS® Association of Edmonton Update is recording a mixed bag of data. Sales have dropped 17.5% month over month, coming from 1334 in October to 1101 in November. Active listings remained virtually the same, as did the average price of an Edmonton home, sitting at $354,000. Months of inventory did rise substantially, by 21.1%, and now sits at 7.2.
When looking at year over year data, not a lot has changed in Edmonton. Sales are only down 0.4% and the average price is down just 1.9%. That’s the difference between 4 sales and $7,000.
Could you guess how strong the detached market is in Edmonton? To see just how dominant the detached market is, and to see all the other data in greater detail, take a look at my REALTORS®
Association of Edmonton Update here.
Click here to download Edmonton’s November market slides.
VANCOUVER, BC
The Real Estate Board of Greater Vancouver is reporting healthy numbers for the month of November. While sales did drop 12.6% month over month with a total of 2498 in November, months of inventory remained the same, sitting at 4.3 respectively. The benchmark price of a home in the REBGV rose very slightly by 0.1% to $994,000.
Year over year we are seeing a much different market. Sales are up by 55.3% when compared to November 2018 but the benchmark price has fallen 4.6%. With sales on the rise from a year ago, we can expect housing prices in Vancouver to stabilize.
What is the difference between micro markets in Vancouver and Fraser Valley? Take a look at my detailed chart on what is selling in both of these BC markets. You can find all my data by watching my Real Estate Board of Greater Vancouver Market Update here.
Click here to download Vancouver’s November November slides.
FRASER VALLEY, BC
The Fraser Valley Real Estate Board is reporting some great numbers for the month of November. Although sales have fallen 11.7%, going from 1592 in October to 1405 in November, the average price of a Fraser Valley home increased by 2.3%, sitting now at $737,000. Active listings did increase slightly by 3.1% and now sits at 4.8.
Year over year, the Fraser Valley Real Estate Board is reporting a substantial increase in sales. November 2019 outsold November 2018 by 36.7%, the difference of 377 total sales.Average price did fall slightly year over year by 3%.
Which property type do you think sells the most in Fraser Valley? The data is so balanced, that at first glance it might be hard to tell. Take a look at this micro market data and all of my other stats by watching my Fraser Valley Real Estate Board Market Update here.
Click here to download Fraser Valley’s November market slides.