Province by Province Real Estate Trends

The Canadian Real Estate Association(CREA) recently released its latest housing market report. A nation wide snap shot of what is going on in the real estate market. Here is a breakdown of national real estate trends by province.

British Columbia

Vancouver prices are rebounding as buyers previously scared by affordability and government intervention step back into the market. Year-over-year, home prices in the Fraser Valley and Greater Vancouver remain well above year-ago levels.

Alberta

A slow recovery may be beginning in Alberta. Sales are up in 90% of Alberta markets, led by Calgary and Edmonton.

Saskatchewan

Home sales and average price were down in Saskatchewan last month.

Manitoba

Manitoba is slowly seeing increases in both prices and sales. The average home price is now $289,503.

Ontario

The current strength in national home sales is being driven by Toronto. Oakville is the priciest market in Canada last month, with the average home selling for $1,209,880.

Quebec

Montreal was one of the leading cities in terms of sales growth in March.

New Brunswick

Agents in New Brunswick enjoyed a busier March than usual, with home sales jumping 10.4% to 628.

Nova Scotia

Home sales were down in Halifax (-5.6% y/y), the province’s largest market, but the average price jumped 5% to $294,246.

PEI and Newfoundland

PEI had a quietly solid month with the average price increasing 2.8% to $187,977 in March.

Newfoundland & Labrador, meanwhile, saw both unit sales drop (-9% y/y) and the average price (-2%).