Sometimes you have to look hard to find the positives. This is certainly the case in many of Canada’s largest real estate markets. An overwhelming trend for most of 2018 has been the underperformance of real estate markets in comparison to 2017. The question is: is it a fair comparison? With stress testing, interest rate hikes, and consumer uncertainty, 2018 markets are performing well given the circumstances.
In today’s modern era, it is easy to get lost in information. Each month, real estate boards across the country release their latest numbers, but what exactly do they mean for you and the consumer? Download my PowerPoint Slides and use this information to provide valuable insight to your customers. Show them what the market is doing instead of telling them and you’ll always be successful.
Toronto (GTA), ON
The Toronto Real Estate Board (TREB) continues its reign as one of Canada’s strongest markets. Sales are up 6% compared to October 2017, and with Active Listings only rising by 0.4%, it means our Months of Inventory has dropped to 2.5. The real celebration comes when we compare month-over-month. Sales are up 16% compared to September 2018 and Months of Inventory is down from 3.1 to 2.5. An exceptional trend is taking place with year-over-year sales and you can see this graph in my video analysis and review below.
The Real Estate Board of Greater Vancouver continues to struggle in 2018. Year-over-year, October Sales are down -35%, Active Listings are up 42%, and Months of Inventory is sitting at 6.6 compared to 3 this time last year. The good news? Month-over-month the Vancouver real estate market is looking bright. Sales are up 23%, Active Listings are down -1%, and Months of Inventory is down to 6.6 from 8.2. Does this mean better times are ahead? Watch my video market analysis and review here.
The Calgary Real Estate Board has seen better days. When comparing to October 2017, Sales are down -10%, Active Listings are down -13%, and Months of Inventory has risen to 5.6. But, like our previous cities, October 2018 was a much stronger month than September 2018. Sales went up 4%, Active Listings decrease -8%, and Months of Inventory went from 6.2 to 5.6. Watch the rest of my analysis on the Calgary real estate market here.
The Edmonton Real Estate Board has moved into a full buyers market. When comparing year-over-year, Sales have dropped -14%, Active Listings are on the rise by 9%, and Months of Inventory sits at 7.2. There is good news though. Month-over-month numbers are heading in the right direction, albeit, slowly. To see the overall Sales trend for the Edmonton real estate board, watch my review here.
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