What Happened in the Canada Real Estate Market in March?
Some really positive news in the market for March in Canada.
Here are some of the highlights but make sure you watch the video below to get in 2 minutes or less!
- Sales were up 20% from this same time in 2016
- Sales in March were up 42% month over month and a big improvement from February’s numbers
- Inventory jumped 13.5% from February
- Inventory levels were down 16% from March of 2016 keeping in line with a balanced market
Canada’s Detached Housing Market
If you have a single family detached home, we have some very good news for you:
- Overall months of supply is 1.97
- All price points for detached homes are seeing improvements in sales numbers as well as slight improvements in prices
- The entry to luxury and early luxury markets of $800,000 – $1.25M saw 50% of its total sales in March alone
- The West side of the city is seeing the highest appreciation so far this year with an increase in prices of 2.5%
The Hottest ‘Hoods in the City
Here are the hottest neighbourhoods in the city, do you live in one of them??
- Cougar Ridge and West Springs in the $500,000 – $600,000 market
- Chinatown had a whopping 200% of its new listings sell in March
- Upper Mount Royal had 167% of its new listings sell, and over half of the its sales for the year in March
- Eagle Ridge saw 200% of its new listings sell in March, and 100% of the total sales for the year
- Two communities are seeing extremely low inventory right now, with 0.3 months of supply for Riverbend & Southview.
Want more information on the Canada real estate market? Watch the video below