MARKET QUICK LINKS:   Toronto | Calgary | Edmonton | Vancouver | Fraser Valley

Over 66% of 2019 has come and gone and we’re now entering a critical time in any real estate professional’s business: the fall market!

I’m hoping you’ve been diligent in the slower summertime months; generating leads, booking appointments and creating a demand for your services as the year wraps up. Easier said than done, I know.

However, if you took summer vacation a little too seriously, rest assured, it’s not too late to end the year strong although, you may have to work harder. Regardless of where you practice real estate, there are thousands of sales to be had in the final third of 2019. The question is, how are you going to get them?

In this month’s market update, I take a look at year-to-date 2019, a year-over-year comparison as well as a summer month comparison.

I’m making some bold predictions as to what our total sales for 2019 will be in each real estate board, so take a look at this month’s video update.

TORONTO, ON

August 2019 didn’t break any records (good or bad) and the numbers were typical of any summer month. Sales (7711), active listings (15870) and average price (793,000) all dropped month-over-month. Months of inventory stayed the same at 2.1.

Year-over-year data, however, was promising with sales up by 13.4% and average price up by 3.6%. All signs pointing to sustainable growth for months to come.

So, where will total sales land by year end 2019? Take a look at my market update video below to find out, and also learn how to calculate predictions for yourself.

Click here to download Toronto’s August market slides.

CALGARY, AB

Not a lot changed month-over-month in the Calgary Real Estate Board. Sales dropped 3.8%, the average price grew 0.2% to $454,000 and months of inventory stayed the same at 4.4.

In a balanced market such as Calgary’s, I wouldn’t expect to see too much change when it comes to the average price of a property. However, year over year data tells a slightly different story. Sales were up 6.2% compared to last August but the average price went down 6.1%.

The big question: How will 2019 wrap up? Check out my prediction and use the provided data to make your own! My Calgary Real Estate Board market update can be seen here.

Click here to download Calgary’s August market slides.

EDMONTON, AB

The Edmonton Real Estate Board is reporting a steep drop in month over month sales, however, the market has stayed relatively the same otherwise.

Sales did drop 18.2% month over month but average price grew 0.3% to $367,000. Year over year data showed much of the same: sales fell 6.4% compared to August 2018, but the average price went up 0.7%. Months of inventory is below where it was a year ago and looks to be on par with 2017 numbers.

When looking at the last ⅓ of 2019, you’d be surprised at where we land in total sales by year end. For my Edmonton Real Estate Board prediction, and a detailed look at all my stats, watch the video here.

Click here to download Edmonton’s August market slides.

VANCOUVER, BC

The Real Estate Board of Greater Vancouver seems to be stabilizing even though numbers slightly fell month over month. Like the rest of the markets I reviewed, August numbers fell when comparing them to July.

Sales were down 12.7%, benchmark price fell slightly by 0.2% to $993,000 and months of inventory grew 7.8% and sits at 6. Year over year data does provide some very positive news. Although benchmark price has dropped 8.3% year over year, sales were up 15.7% in the same period.

How many more thousands of sales am I predicting in the last ⅓ of 2019 for the Real Estate Board of Greater Vancouver? Check out my video here to see all the data.

Click here to download Vancouver’s August market slides.

FRASER VALLEY, BC

The Fraser Valley Real Estate Board is releasing some very standard August data. Like the rest of the markets I have gone through, sales have dropped and months of inventory has risen.

Sales went down 11%, months of inventory grew 8.4% to 6.2 but average price rose 1.5% and now sits at $722,000. Year over year data shows us that sales have grown 12.3% but average price has dropped 3.5%.

Total sales for the first ⅔ of the year are down considerably compared to 2018 and beyond. Where will the last ⅓ of 2019 land the Fraser Valley Real Estate Board? Watch my video here to review my total sales prediction for the year.

Click here to download Fraser Valley’s August market slides.

Remember, it’s a beautiful life, make it count.

Richard