MARKET QUICK LINKS: Toronto | Calgary | Edmonton | Vancouver | Fraser Valley
We are sitting inside the last quarter of 2019 during one of the busiest times in real estate: The fall market.
While 2019 may be nearing its end, you should be starting you final push to hit or exceed the targets you gave yourself at the beginning of the year.
There isn’t much time to end the year on a high note so understanding the current state of the market has never been more important. In this month’s market update I’m taking a detailed look at micro markets across the country.
Use this information and data to provide invaluable insight to your potential buyers and sellers. Review all of the data below in my monthly market update videos.
TORONTO, ON
Toronto continues its reign as the strongest market in Canada. Month over month, sales were up 1.5% to 7825 total, average price also rose 6.5% and now sits at $843,000. Year over year numbers are even more impressive as sales were up 22% and average price up 5.8%. Months of inventory hasn’t gone above 2.2 since March.
Year over year average price in every micro market was up in both the 416 and 905 areas. Detached average price saw the lowest year over year increase in the 416 with just 1.5%. Semi-detached had the largest increase with a 7.3% jump. In the 905, semi-detached had the lowest year over year increase in average price with 4.2% while condo apartments had the largest growth with 9.2%.
What do the rest of the micro markets look like? Take a look at my market update video below to find out and turn this information into insight for potential clients.
Click here to download Toronto’s September market slides.
CALGARY, AB
The Calgary Real Estate Board is reporting a drop in sales but an increase in the average price of a Calgary property. Sales fell -13.4% to 1371 total, months of inventory rose 13% to 5 and average price rose slightly to 1.6% and now sits at $461,000.
Average price was nearly identical when looking at year over year data. Sales have dropped just 1% year over year in CREB however, sales have increased 8.1% in the same time period.
Looking at micro market data, some types of properties are doing better than others. Apartment and row housing saw a drop in year over year average price, while detached, attached and semi-detached all rose in price.
Just how much did these micro markets fluctuate? Watch my Calgary Real Estate market update video for an in-depth look at the market.
Click here to download Calgary’s September market slides.
EDMONTON, AB
Month over month, the Edmonton Real Estate Board saw a drop in sales, active listings and average price. Sales were down -11.7% to 1387 total, average price dropped -4.3% and now sits at $352,000. Months of inventory for the month of September sits at 6.1, a 9.4% increase from August. Year over year things look a bit better. Sales are up 5.7% however, the average price is down 6%.
Taking a look at EREB’s micro market data, we can see exactly which markets are performing best in Edmonton. Want to see the data? Check out my Edmonton market update video now.
Click here to download Edmonton’s September market slides.
VANCOUVER, BC
The Real Estate Board of Greater Vancouver released great numbers for the month of September. Month over month sales were up 4.6% with 2333 total. With active listings nearly identical to last month and sales increasing, REBGV’s months of inventory dropped 4.1% to 5.8, nearly a year low. Benchmark price fell marginally month over month by -0.3% and now sits are $991,000.
Year over year benchmark price for the Real Estate Board of Greater Vancouver fell across all micro markets. Detached saw the greatest change with price dropping -8.7%. Townhouse benchmark price fell 8.4% and apartment fell -5.2%.
Looking for more data? To look at year over year data, a 3 year historical review of months of inventory and to see Fraser Valley’s micro market data, check out my video here.
Click here to download Vancouver’s September market slides.
FRASER VALLEY, BC
The Fraser Valley Real Estate Board is one of the few markets that saw a rise in month over month sales. Sales rose 3.5% with 1343 total sales in September. Months of inventory fell 4.6% to 5.9 and average price rose 1.6% to $733,000.
Year over year data is even more impressive. Sales are up a staggering 29.8% year over year and average price is up 1.6%. Taking a look at micro markets, there is a clear winner when comparing average price. To see all the Fraser Valley Real Estate Board data, take a look at my market update now.
Click here to download Fraser Valley’s September market slides.
Remember, it’s a beautiful life, make it count.
Richard