What the latest CREA stats mean for you

by Justin da Rosa18 Jul 2016
CREA’s latest report is chock-full of stats that point to trends in every Canadian real estate market. This is what agents need to know.

This is your cross-Canada snapshot of current real estate trends.

British Columbia
Agents in B.C. continue to enjoy the spoils of an unprecedented housing boom. Total sales came in at 12,906 in June, up 14.3% year-over-year. Prices continued to boil as well, with the average home selling for $694,925 – up 10%.

Vancouver continues to lead the way for B.C. real estate, with the average home now selling for $1,026,207, which is an increase of 11.3% year-over-year.

Not all B.C. markets are booming, though. Kootenay saw the average price drop 4.6% to $282,371 in June, despite an uptick of 19.2% in sales.

Oil country continues to struggle, with home sales dropping 9.2% year-over-year in June. Prices dropped in almost every market, save for Lethbridge – which saw a 2% uptick in average price – and Calgary (0.2%).

The Bread Basket of Canada saw its average home sales drop by 10.7% year-over-year last month. The average home now costs $297,837 – a slight 1.6% year-over-year decline.

There are two prevailing trends occurring in Manitoba real estate currently.

On the positive side, Winnipeg (+7.9) saw its sales increase. However, Portage Le Prairie (-8.5%), Brandon (-15%), and Thompson (-66.7%) experiences sales declines.

Ontario continues to truck along at a healthy clip, with sales increasing 6.5% to 28,030 total sales in June. The average price increased 13.9% to $544,009.

Atlantic Canada
The average New Brunswick house sold for $170,044 in June, up 3.6%. There were 839 total sales last month.

Over in Nova Scotia, the average home now costs $226,272 – a slight uptick of 0.2% year-over-year. A total of 990 homes exchanged hands.

Prince Edward Island had a solid month in June, with the average price increasing 17.9% year-over-year to $192,115. Sales, meanwhile, came in at 225 – an uptick of 12.5%.

Finally, Newfoundland & Labrador had a sales boom, with 468 properties being sold. That was up 28.6% year-over-year. The average price, however, fell 3.5% to $270,664.

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