Major Cities Report
Strong Victoria Real Estate Market Again in October
565 properties sold in the region this September – an increase of 16% compared to the 487 properties sold in the same month last year. The quarter ending in September shows a 15% increase in the number of sales overall compared to the same quarter in 2013. The Multiple Listing ServiceÂ® Home Price Index benchmark value for a single family home in the Victoria Core this time last year was $550,900. This month the benchmark value increased to $556,200.
Metro Vancouver Home Sales Above Average in October
Last monthâ€™s sales were 16.6% above the 10-year sales average for October. The total number of properties currently listed for sale on the MLSÂ® system in Metro Vancouver is 13,851, a 9.2% decline compared to October 2013.. The MLSÂ® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $637,000. This represents a 6% increase compared to October last year. Sales of detached properties in October 2014 reached 1,271, an increase of 19.1% from October 2013, and a 60.9% increase from the 790 units sold in October 2012.
Calgary Resale Housing Market Moves Toward More Balanced Conditions. Price Growth Eases as Supply Improves
As of October, only 18% of new single-family listings were priced below $400,000 and only 387 remained in inventory by the end of the month. Single-family, apartment and townhouse benchmark prices totaled a respective $513,500, $299,800, and $337,800 in October. While all sectors saw unadjusted monthly prices level off and growth ease, year-over-year increases remained above 9% across all categories due to gains achieved this past spring.
Market Begins Seasonal Cool Off a Little Later this Year
The seasonal slide is reflected in the dip in single family sales, down 12% from last month at 850 sold (918 adjusted). While still up almost 8% from last year, single family prices dipped down from $436,870 in September to $426,848 in October, a difference of 2.3%.
October 2014 Sales & Average Price Up Year-Over-Year
Greater Toronto Area REALTORSÂ® reported 8,552 sales through the Toronto MLS system in October 2014. This result represented an increase of 7.7 % compared to October 2013. New listings were also up on a year-over-year basis, but by a lesser 3.4%. The average selling price for October 2014 transactions was $587,505 â€“ up 8.9 % compared to the average of $539,286 reported for October 2013