MARKET QUICK LINKS: Toronto | Calgary | Edmonton | Vancouver | Fraser Valley
We are officially inside of a new decade. 2020 is here and this is our opportunity for fresh, new beginnings. This is also an opportunity to decipher the past and understand how it can affect the future.
For the first market update of 2020, I am taking a close look at historical data in all of our covered markets to include:
- a detailed look at 2019;
- year-over-year data;
- 3-5 years’ worth of statistics to provide invaluable insight for buyers and sellers alike.
The easiest way to determine where the future will take us is taking a close look at how we’ve arrived where we are today. The question on everyone’s mind: What does 2020 have in store? I’ll share my predictions with you inside each market update video.
Remember, it’s a beautiful life, make it count.
Richard
TORONTO, ON
The Toronto Real Estate Board is starting 2020 as Canada’s hottest market in this cold time of year. Sales and active listings equally fell roughly 38% month over month. Months of inventory remained at 1.7 and average price dropped marginally by 0.7% and currently sits at $838,000. Sales for the month of December were 4399 compared to November’s 7090.
Year over year TREB is showing its resiliency. Sales are up 17.3% compared to last December and average price is up 11.7%. Looking back 5 years, total sales increased 12.6% from 2018 and average price rose 4%.
Can you guess the strength of TREB’s micro market property types? Good news, you don’t have to. Download my slides below to see the Toronto Real Estate Board’s three-year historical data by property type. This is valuable information you can provide to clients to establish yourself as a true Toronto market specialist.
What is my TREB 2020 prediction? You can find all this data by watching my TREB Market Update video here.
Click here to download Toronto’s December market slides.
CALGARY, AB
The last month of 2019 wasn’t the strongest outing for the Calgary Real Estate Board, but it’s not all bad news. Average price rose 2% and sits at $450,000. Sales and average price fell at least 20% month over month which caused months of inventory to rise to 5.3; this is the highest MOI we’ve seen in Calgary since February 2019.
Year over year numbers provide a more positive perspective for Calgary. Sales are up 7.9%, going from 795 in December 2018 to 858 in December 2019. Average price also rose, only slightly, by 0.3% year over year.
Which micro market property types boast the most potential in 2020 in Calgary? Download my slides to see the last 3 years of micro market property type data and take a look at my Calgary Real Estate Board video now to listen to my 2020 predictions.
Click here to download Calgary’s December market slides.
EDMONTON, AB
The REALTORS® Association of Edmonton is reporting modest December 2019 data. Sales fell 23.3%, active listings fell 24.8%, which actually made the overall months of inventory drop 2%. MOI now sits at 7.1 which has made the average price of an Edmonton residential property static. Average price has hardly moved since October 2019 and currently sits at $354,000.
Year over year, sales are up 9.9% and average price is down 1.9%. Total sales on the year is only down 0.33% compared to total sales in 2018. The average price for an Edmonton residential property is down 3.09% in 2019 compared to 2018.
Which micro market property type do you think has been the strongest in Edmonton over the last 3 years? You can find this detailed data in the downloadable slides below. Check out my video now to understand the numbers and see my prediction for 2020.
Click here to download Edmonton’s December market slides.
VANCOUVER, BC
The Real Estate Board of Greater Vancouver has released some great numbers for the month of December. When taking into account that the year began with 9.8 months of inventory, it’s impressive to see where REBGV stands today. The Vancouver market has been getting stronger month by month and now currently sits at 4.3 months of inventory. Benchmark price rose 0.7% from November and is at its highest amount since June 2019.
Year over year data is astonishing. Sales are up a whopping 88.1% going from 1072 in December 2018 to 2016 in December 2019. Benchmark price fell slightly year over year by 3%.
How do 2019 REBGV stats stack up against the last 5 years? I took an in-depth look at the 5-year historical sales and benchmark price data in this real estate board. I also am looking back three years into property type data.
Take a look at all of the REBGV data, and my 2020 prediction, in the market update video here.
Click here to download Vancouver’s December market slides.
FRASER VALLEY, BC
The Fraser Valley Real Estate Board is boasting its lowest months of inventory in all of 2019 this past December. MOI dropped 21.6% month over month and currently sits at 3.8. This helped the average price of a Fraser Valley residential property increase 1.9% and currently sits at $751,000.
Year over year, FVREB is rebounding in spectacular fashion. Sales are up 55% from December 2018 and average price is up 5.7%. Total sales for 2019 is down 0.64% compared to 2018 and this is because of a very slow beginning to the year.
Is it time to get excited about the real estate market in Fraser Valley? Take a look at my detailed slides and FVREB analysis in the slides and video below.
Click here to download Fraser Valley’s December market slides.