Canada Real Estate Roundup

by Maggie Chandler on February 20, 2009

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Take a look at what’s happening in the Canada real estate market. Compared to one year ago, Real Estate prices in the big cities of Toronto, Vancouver, Calgary and Edmonton are down, Montreal prices are flat, but the Maritime Provinces, Ottawa and Winnipeg’s prices are up. The following is a release by CREA, you can hold your mouse over a specific city and view the current average price and the average price one year ago.

The number of properties sold via the MLS® systems of real estate boards in Canada edged down further in January 2009. Seasonally adjusted residential MLS® sales activity numbered 26,376 units in January 2009. This is 3.1 per cent below activity in December 2008, and a decline of 37.3 per cent in activity compared to January 2008.Monthly percentage declines in seasonally adjusted activity in January 2009 were on par with those in December 2008 (-2.4 per cent month-over-month), and moderate by comparison to October (-14.9 per cent) and November 2008 (-11.8 per cent).Monthly declines in seasonally adjusted sales activity in British Columbia and Ontario pulled national activity statistics lower, and offset monthly increases in MLS® residential sales activity in Manitoba, and Newfoundland & Labrador.Actual MLS® resale housing activity totaled 16,343 sales nationally in January 2009, down 40.9 per cent on a year-over-year basis. Only Prince Edward Island recorded an increase in residential units sold, up two per cent compared to January 2008.

The supply of homes for sale remains high, but is trending lower nationally. The decline in new MLS® listings is trending lower in line with sales activity in many regions. Seasonally adjusted new MLS® residential listings numbered 69,875 units in January 2009. This is down three per cent from the previous month, and 13 per cent below the peak reached in May of last year.

Read the rest of this article from CMHC.. See the interest rates changes from 2003. View employment trends

View my Canadian real estate blogs Vancouverreflections Victoria/Sooke - prices down according to 642blog.caEdmonton - prices levelling according to TheEdmontonRealEstateBlogCalgary- prices down according to TheCalgaryRealEstateBlog

Saskatoon - prices down according to SaskatoonOnLine

Winnipeg - WinnipegRealEstateBlog

Toronto - prices down according to MoveSmartly

Mississagua - prices down according to MississaugaRealEstateHomes

Collingwood-BlueMountain - prices down according to CollingwoodBlueMountain RealEstateBlog

Montreal - prices up according to MontrealRealEstateBlog

New Brunswick - prices up according to MonctonRealEstateBlog

Halifax - prices up according to HalifaxRealEstateBlog

Newfoundland - prices up according to StJohn’sRealEstateOnline

this site is updated regularly, subscribe for FREE via RSS or email. when you’re ready to buy or sell Vancouver real estate, contact Maggie Chandler, an experienced realtor marketing homes since 1981

Tagged as: canada real estate roundup, Vancouver Real Estate

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