Major Cities Report
Victoria
February Sales Expose Extraordinary Demand for Victoria Area Properties
A total of 772 properties sold in the Victoria Real Estate Board region this February, an increase of 42.4 per cent compared to the 542 properties sold in the same month last year. Inventory levels are lower than the previous year, with 2,562 active listings for sale at the end of February, 26.4 per cent fewer than the 3,480 active listings at the end of February 2015. The MLS Home Price Index benchmark value for a single family home in the Victoria Core in February, 2015 was $557,000. The benchmark value for the same home in February 2016 has increased by 14.7 per cent to $638,700.
Vancouver
Metro Vancouver Home Buyers Set a Record Pace in February
Last month was the highest selling February on record for the Metro Vancouver* housing market.
Residential property sales in the region totalled 4,172 in February 2016, an increase of 36.3 per cent from the 3,061 sales recorded in February 2015 and an increase of 65.6 per cent compared to January 2016 when 2,519 homes sold. Last month’s sales were 56.3 per cent above the 10-year sales average for the month and rank as the highest February sales total on record. The sales-to-active listings ratio for February 2016 is 57.2 per cent. The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $795,500. This represents a 22.2 per cent increase compared to February 2015. Sales of detached properties in February 2016 reached 1,778, an increase of 37.2 per cent from the 1,296 detached sales recorded in February 2015. The benchmark price for detached properties increased 27 per cent from February 2015 to $1,305,600. Apartments benchmark price was $454,600 and Townhomes were $569,600
Calgary
Housing Sales Slower Than Typical February.
Monthly prices decline for 5th consecutive month. February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month. City wide unadjusted benchmark prices totaled $445,000 in February, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year. The detached benchmark price totaled $504,400 in February, a 0.71 per cent decline over the previous month and 3.19 per cent below February 2015 levels
Edmonton
Housing prices Hold Steady as Inventory Grows
Residential inventory saw another significant increase in February, surpassing 6,000 listings on the market, ending the month with 6,681 properties for sale on the MLS® System for the Edmonton Census Metropolitan Area (CMA). That’s a 16.17% increase over last month, and 33.41% more homes listed for sale than February 2015. Sales for February were up 36.54% month-over-month at 837 compared to 618 in January, but 10.1% lower than the 931 properties that sold during the same time last year. Single family house prices averaged $419,940,
Toronto
Record February Sales
There were 7,621 transactions reported this past February – up 21.1 per cent compared to February 2015.
Seller’s market conditions continued throughout the GTA in February. The MLS® Home Price Index (HPI) Composite Benchmark was up by 11.3 per cent year-overyear. The average selling price was up by 14.9 per cent annually to $685,278. |
