Canadian home sales activity eases in October

Ottawa, ON, November 15, 2018 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between September and October 2018.

Highlights:

  • National home sales fell 1.6% from September to October.
  • Actual (not seasonally adjusted) activity was down by 3.7% from one year ago.
  • The number of newly listed homes eased 1.1% from September to October.
  • The MLS® Home Price Index (HPI) was up 2.3% year-over-year (y-o-y) in October.
  • The national average sale price slipped by 1.5% y-o-y in October.

Home sales via Canadian MLS® Systems edged back by 1.6% in October 2018. While activity is still stronger compared to the first half of 2018, it remains below monthly levels recorded from early 2014 through 2017. (Chart A)

Transactions declined in more than half of all local markets, led by Hamilton-Burlington, Montreal and Edmonton. Although activity did improve modestly in many markets, it was offset by a decline in sales elsewhere by a factor of two.

Actual (not seasonally adjusted) activity was down 3.7% compared to October 2017 and in line with the 10-year average for the month. While sales were down y-o-y in slightly more than half of all local markets in October, lower sales in Greater Vancouver and the Fraser Valley more than offset the rise in sales in the Greater Toronto Area (GTA) and Montreal by a wide margin.

“This year’s new mortgage stress-test has lowered how much mortgage home buyers can qualify for across Canada, but its effect on sales has varied somewhat depending on location, housing type and price range,” said CREA President Barb Sukkau. “All real estate is local. A professional REALTOR® is your best source for information and guidance in negotiating a purchase or sale of a home during these changing times,” added Sukkau.

“National sales activity lost momentum in October,” said Gregory Klump, CREA’s Chief Economist. “In part, this reflects waning activity among some urban centers in Ontario’s Greater Golden Horseshoe region and the absence of an offsetting rise in sales in the Lower Mainland of British Columbia. Even so, the balance between sales and listings in these regions points to stable prices or modest gains. By contrast, the balance between sales and listings for housing markets in Alberta, Saskatchewan and Newfoundland indicates a weak pricing environment for homeowners who are looking to sell.”

The number of newly listed homes edged down 1.1% between September and October, led by the GTA, Calgary and Victoria. The decline in new supply among these markets more than offset an increase in new supply in Edmonton and Greater Vancouver.

As for the balance between sales and listings, the national sales-to-new listings ratio in October came in at 54.2% — close to September’s reading of 54.4% and its long-term average of 53.4%.

Considering the degree and duration to which market balance readings are above or below their long-term average is the best way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about two-thirds of all local markets were in balanced market territory in October 2018.

The number of months of inventory is another important measure for the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.3 months of inventory on a national basis at the end of October 2018. While this remains in line with its long-term national average, the number of months of inventory is well above its long-term average in the Prairie provinces and in Newfoundland & Labrador. By contrast, Ontario and Prince Edward Island are the two provinces where the measure remains

more than one standard deviation below its long-term average. In other provinces, the number of months of inventory is closer to its long-term average and suggests that sales and inventory are well balanced.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.3% y-o-y in October 2018 with similar gains posted in each of the three previous months. (Chart B)

Apartment units posted the largest y-o-y price gains in October (+7.4%), followed by townhouse/row units (+3.9%). By comparison, one-storey single-family homes posted a modest increase (+0.6%) while two-storey single-family home prices held steady.

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains have been diminishing on a y-o-y basis (Greater Vancouver: +1%; Fraser Valley: +6.8%; Victoria +8.5%; elsewhere on Vancouver Island: +11.8%).

By contrast, MLS® HPI benchmark price comparisons are improving on a y-o-y basis among housing markets in the Greater Golden Horseshoe region that are tracked by the index. Home prices were up from year-ago levels in Guelph (+9.3%), Hamilton-Burlington (+6.8%), the Niagara Region (+6.3%), the GTA (+2.6%) and Oakville-Milton (+2.2%). While home prices in Barrie and District remain slightly below year-ago levels (-0.9%), declines there are shrinking; if current price momentum persists, home prices in December are on track to turn positive compared to December 2017.

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.6%), Edmonton (-2.4%), Regina (-3.6%) and Saskatoon (-0.9%).

Home prices rose by 6.6% y-o-y in Ottawa (led by a 7.4% increase in two-storey single-family home prices), by 6.3% in Greater Montreal (led by a 9.8% increase in townhouse/row unit prices) and by 4.2% in Greater Moncton (led by a 12.4% increase in townhouse/row unit prices). (Table 1)

The MLS® HPI provides the best way to gauge price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in October 2018 was just under $496,800, down 1.5% from the same month last year.

The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $114,000 from the national average price, trimming it to just under $383,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

 

5 tips for Buying Winnipeg Commercial Real Estate

These days investing in real estate can be very costly, and business owners need to be very careful through every step of the process. Without coming up with a proper game plan, owners can face many challenges, such as inadequate financing, construction and renovation costs, etc.

Although costs of real estate have gone up in the last few decades, business owners are still better off buying winnipeg commercial real estate. This way you will avoid unexpected rent increases, but your property may increase in value as well.

Here are 5 tips on what makes a successful commercial property for sale in winnipeg investment.

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegUnderstand the Winnipeg real estate market

Before moving forward with purchasing Winnipeg commercial real estate, buyers need to be aware of where they are buying. All local markets have their own tax rates, land inventory and environmental issues. Also consider the construction and services in the area.

 

 

Consultation

You should also consult an accountant before making the decision to purchase. Work with the accountant to come up with a budget that also includes all hidden costs that may pop up. Also make sure to go over tax implications with your accountant as well. Make sure to work with an accountant who knows the real estate industry through and through.

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegGet your finances in order

Getting approval for winnipeg commercial real estate isn’t an easy task. Bankers will want to see all of your financial statements and profits from your company. These numbers will be vastly important on determining whether you are able to get the loan you want. You should also shop around to find the best financing packages. The percentage of the purchase financial institutes are willing to offer you are one of the most important things.

Layout Planning

Whether you are purchasing an existing space or just renovating the space, the layout of the building has a huge impact on your companies efficiency. It is wise to hire a professional who can advise you on how to layout the space in the most efficient way.

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegChoose quality builders

Now that you’re ready to make the changes to the space you will want to make sure you hire quality builders. Make sure to pick the company with the most experience, the most efficient, and knowledge of the industry.

Those are just a few tips for buying winnipeg commercial real estate. For more information contact RE/MAX professionals Commercial today!

CREA unveils redesigned REALTOR.ca website

Ottawa, ON October 18th, 2018 – The Canadian Real Estate Association (CREA) recently launched an improved REALTOR.ca website design that features a simpler and more powerful search function, enhanced homebuyer calculators and access to highly anticipated school catchment areas.There are a host of smaller but impactful enhancements to the site navigation, REALTOR® profiles and listing details pages, all with the goal to make it easier for homebuyers to find their dream home and drive more meaningful connections with REALTORS®. The redesign, which targets desktop users, is the second phase of a multi-phase project which delivers an improved and responsive website experience for all visitors.REALTOR.ca, the No. 1 real estate website in Canada, delivers on its promise to facilitate consumers’ real estate needs with access to an average of 300,000 REALTOR® listings at any given time, promoting the value of using a REALTOR® and facilitating connections with REALTORS®. Last year alone, it had more than 264 million visits and generated over 2.6 million leads for REALTORS®.

“The improved REALTOR.ca provides consumers with access to a trusted and comprehensive source of property listings which include sought after features like neighbourhood information and tools they need to be successful in today’s marketplace,” said Barb Sukkau, president of CREA. “We help consumers connect with local REALTORS® to support them every step of the way.”

Parents have always asked their REALTORS® about nearby schools when considering a new home. REALTOR.ca now features a tool allowing parents to view properties for sale within a particular school’s catchment area.

Buying a home is the largest investment in many consumers’ lives and REALTORS® are here to make the home buying process as simple and informed as possible. Whether searching on the go or at home, REALTOR.ca listings now include improved mortgage, land transfer tax and affordability calculators to support homebuyers in their search.

REALTOR.ca now incorporates the Living Room, a REALTOR.ca blog launched earlier this year.  The blog features passionate Canadian industry experts tackling a variety of home-related topics including market trends, home improvement, market trends, neighbourhood guides, design files and unique homes.

“REALTOR.ca is owned by REALTORS®, and as such, we are committed to continuous enhancements to improve the site to ensure it remains Canadian consumers’ first choice when looking for a new home,” added Ms. Sukkau.

– 30 –

About The Canadian Real Estate Association

REALTOR.ca is operated by The Canadian Real Estate Association (CREA), one of Canada’s largest single-industry trade associations. CREA works on behalf of 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers. REALTOR.ca provides trusted, up-to-date and comprehensive property advertisements for residential, commercial and rental properties across Canada. Whether you have just started looking or you are ready to make that important purchase, REALTOR.ca connects you to valuable resources and local REALTORS® to help you find your dream property.

For additional information, please contact:

Pierre Leduc
Media Relation
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E: pleduc@crea.ca

First-ever REALTOR.ca Hackathon yields innovative new solutions for Canadian homebuyers

Ottawa, ON, October 15, 2018 – 77 developers and programmers signed up for the Canadian Real Estate Association’s (CREA) first ever REALTOR.ca hackathon over the weekend at Ottawa’s Bayview Yards. This is one of the many initiatives CREA is undertaking to ensure the continuous improvement of Canada’s #1 real estate website, REALTOR.ca

. CREA is dedicated to finding new ways to help more Canadians achieve their dreams of home ownership.

“Amazing things can happen when talented and passionate people come together with a common goal” said Barb Sukkau, president of CREA.  “CREA hosted developers from across Canada and beyond over a weekend of designing, building and “demoing” solutions that were focused on facilitating the homebuying and selling journey.”

Attendees had the opportunity to participate in an intense 48-hour hackathon in which teams quickly moved from challenge to idea, to pitching a fully functional demo to a panel of real estate and technology-focused judges. This is the first of several hackathon challenges that CREA plans to host.

“At TD, we have a strong history of finding innovative solutions to support homebuyers on their journey to homeownership and we’re proud to be a part of the inaugural REALTOR.ca hackathon,” said Roy D’Souza, Associate Vice President, Real Estate Secured Lending, TD.

The winning proposal was developed by team propGram, composed of Bahar Eghtesadi, Maryam Moafi and Reza Farahani. “We had an amazing experience and we’re so grateful for the opportunity to really dive into REALTOR.ca’s data sets”, said Bahar Eghtesadi, propGram team leader. “We’re looking forward to elaborating on our idea and optimizing it.”

Hackathon_winners_2018
Left-to-right: Michael Bourque, CEO The Canadian Real Estate Association,  propGram team members: Bahar Eghtesadi, Reza Farahani, Maryam Moafi

With this Hackathon, CREA demonstrated its commitment to maintaining REALTOR.ca as consumers’ first choice when looking for a new home by constantly adding the features they demand and expect. Participans were able to meet CREA management and staff, sowing the seeds for potential future business opportunities.

“The real estate industry in Canada is evolving rapidly and technology provides even more opportunities to improve the consumer experience,” said James Mabey, Chair of CREA’s Technology Committee. “We’re excited to work with the hackathon teams to help foster innovation that can benefit our members and enhance the consumer journey on REALTOR.ca.”

– 30 –

About the Canadian Real Estate Association

REALTOR.ca is owned and operated by the Canadian Real Estate Association (CREA), one of Canada’s largest single-industry trade associations. CREA works on behalf of 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers. REALTOR.ca provides trusted, up-to-date and comprehensive property advertisements for residential, commercial and rental properties across Canada. Whether you have just started looking or you are ready to make that important purchase, REALTOR.ca connects you to valuable resources and local REALTORS® to help you find your dream property.

For additional information, please contact:

Pierre Leduc
Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E: pleduc@crea.ca

Canadian home sales activity edges lower in September

Ottawa, ON, October 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales edged down slightly between August and September 2018.

Highlights:

  • National home sales edged back 0.4% from August to September.
  • Actual (not seasonally adjusted) activity was down by 8.9% from one year ago.
  • The number of newly listed homes rose by 3% from August to September.
  • The MLS® Home Price Index (HPI) was up 2.3% year-over-year (y-o-y) in September.
  • The national average sale price edged up a slight 0.2% y-o-y in September.

National home sales via Canadian MLS® Systems eased by 0.4% in September 2018, marking the first decline since April. While sales activity is still somewhat stronger compared to the first half of this year, it remains well below most other months since 2014. (Chart A)

Sales declined from August to September in slightly more than half of all local markets, led by Vancouver Island and Edmonton, along with several markets in Ontario’s Greater Golden Horseshoe (GGH) Region. Activity declines in these markets were offset by monthly gains in the Fraser Valley and Montreal.

Actual (not seasonally adjusted) activity was down 8.9% compared to September 2017.

About 70% of local markets were down on a y-o-y basis, led primarily by declines in major urban centres in British Columbia, along with Calgary, Edmonton and Winnipeg.

“The balance between the number of home buyers and suitable homes varies depending on location, housing type and price range,” said CREA President Barb Sukkau. “Differences in market balance will likely come into sharper focus as interest rates rise and cause this year’s new mortgage stress-test to become even more restrictive. A professional REALTOR® is your best source for information and guidance in negotiating a purchase or sale of a home during these changing times,” said Sukkau.

The number of newly listed homes rose 3% between August and September, led by the Lower Mainland and the Greater Toronto Area (GTA). More than half of all local markets posted a monthly increase in new listings, which was offset by declines in excess of 3% in more than half of the remaining local markets.

“Sales activity may get all the press but it’s the balance between that and the number of homes for sale that sets the tone for pricing environment,” said Gregory Klump, CREA’s Chief Economist. “In markets with an abundant supply of homes and slower sales activity, buyers have the upper hand when it comes to negotiations over price. However, in places where buyers are keen to make a purchase but there’s a shortage of homes for sale, sellers are in the driver’s seat when it comes to price. It will be interesting to see how supply and demand

respond to rising interest rates amid this year’s new mortgage stress-test.”

With sales down slightly and new listings up, the national sales-to-new listings ratio eased to 54.4% in September compared to 56.2% in July and August. The long-term average for this measure of market balance is 53.4%.

Considering the degree and duration to which market balance readings are above or below their long-term average is a way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about three-quarters of all local markets were in balanced market territory in September 2018.

The number of months of inventory is another important measure for the balance between housing supply and demand. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.3 months of inventory on a national basis at the end of August 2018. While this is in line with the measure’s long-term average nationally, the number of months of inventory is well above its long-term average in all Prairie provinces and in Newfoundland & Labrador.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.3% y-o-y in September 2018. The increase was in line with those posted in each of the two previous months. (Chart B)

Apartment units posted the largest y-o-y price gains in September (+8.4%), followed by townhouse/row units (+4.5%). Meanwhile, one-storey and two-storey single family home prices were little changed on a y-o-y basis in September (-0.3% and -0.3% respectively).

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. In British Columbia, home price gains are diminishing on a y-o-y basis in the Lower Mainland (Greater Vancouver (GVA): +2.2%; Fraser Valley: +8.5%). Meanwhile, prices in Victoria were up 8.7% y-o-y in September. Elsewhere on Vancouver Island they climbed 13.2%.

Among the housing markets in the Greater Golden Horseshoe region that are tracked by the index, home prices were up from year-ago levels in Guelph (+8%), Hamilton-Burlington (+6.1%), the Niagara Region (+5.9%), the GTA (+2%), and Oakville-Milton (+1.4%). By contrast, home prices slipped lower in Barrie and District (-3.6%).

Across the Prairies, benchmark home prices remained below year-ago levels in Calgary (-2.6%), Edmonton (-2.6%), Regina (-4.7%) and Saskatoon (-1.9%).

Home prices rose by 6.9% y-o-y in Ottawa (led by an 7.9% increase in two-storey single family home prices), by 6.1% in Greater Montreal (led by a 7% increase in townhouse/row unit prices) and by 3.4% in Greater Moncton (led by a 10.3% increase in apartment unit prices). (Table 1)

The MLS® HPI provides the best way of gauging price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in September 2018 was just under $487,000, little changed (+0.2%) from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $104,000 from the national average price, trimming it to just over $383,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Canadian home sales activity edges higher in August

Ottawa, ON, September 17, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show a small increase in national home sales between July and August 2018.

Highlights:

  • National home sales rose 0.9% from July to August.
  • Actual (not seasonally adjusted) activity was down 3.8% from August 2017.
  • The number of newly listed homes was unchanged from July to August.
  • The MLS® Home Price Index (HPI) was up 2.5% year-over-year (y-o-y) in August.
  • The national average sale price edged up 1% y-o-y in August.

National home sales via Canadian MLS® Systems edged up by 0.9% in August 2018, marking a fourth consecutive monthly gain. However, sales activity is still running below levels in most other months going back to early 2014.

Roughly half of all local markets recorded an increase in sales from July to August, led again by the Greater Toronto Area (GTA), along with gains in Montreal and Edmonton.

Actual (not seasonally adjusted) activity was down 3.8% y-o-y in August, due mainly to declines in major urban centres in British Columbia.

“The new stress-test on mortgage applicants implemented earlier this year continues to weigh on national home sales,” said CREA President Barb Sukkau. “The degree to which the stress-test continues to sideline home buyers varies depending on location, housing type and price range. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.

“Improving national home sales activity in recent months continues to obscure significant differences in regional trends for home sales and prices,” said Gregory Klump, CREA’s Chief Economist. “Moreover, recent monthly sales increases are diminishing, which suggests that the recent rebound may be starting to lose steam.”

The number of newly listed homes was unchanged between July and August, as new supply gains in the Greater Vancouver Area (GVA) and Montreal offset declines in the GTA and Winnipeg.

With sales up slightly and new listings unchanged, the national sales-to-new listings ratio edged up to 56.6% in August compared to 56.2% in July. The long-term average for this measure of market balance is 53.4%.

Considering the degree and duration to which market balance readings are above or below their long-term average is a way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about two-thirds of all local markets were in balanced market territory in August 2018.

The number of months of inventory is another important measure for the balance between housing supply and demand. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.2 months of inventory on a national basis at the end of August 2018, right in line with the long-term average for the measure.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.5% y-o-y in August 2018.

Apartment units posted the largest y-o-y price gains in August (+9.5%), followed by townhouse/row units (+4.3%). Meanwhile, one-storey and two-storey single family home prices were little changed on a y-o-y basis in August (+0.4% and -0.4% respectively).

As of this release, housing market coverage for MLS® HPI now includes Hamilton-Burlington and the Niagara Region.

Trends continue to vary widely among the 17 housing markets tracked by the MLS® HPI. Home price gains are diminishing on a y-o-y basis in the Lower Mainland of British Columbia (GVA: +4.1%; Fraser Valley: +10.7%). Prices in Victoria were up 8.5% y-o-y in August. Elsewhere on Vancouver Island, prices climbed 13.6%.

Among the Greater Golden Horseshoe housing markets tracked by the index, home prices were up from year-ago levels in Hamilton-Burlington (+7.2%), the Niagara Region (+6.6%), Guelph (+5.5%), the GTA (+1.4%) and Oakville-Milton (+1.2%). By contrast, home prices remained down on a y-o-y basis in Barrie and District (-2.7%).

In the Prairies, benchmark home prices remained down on a y-o-y basis in Calgary (-2.2%), Edmonton (-2.1%), Regina (-4.8%) and Saskatoon (-2.3%).

Meanwhile, home prices rose by 7.1% y-o-y in Ottawa (led by an 8.2% increase in two-storey single family home prices), by 5.9% in Greater Montreal (led by a 6.3% increase in two-storey single family home prices) and by 4.8% in Greater Moncton (led by a 7.5% increase in two-storey single family home prices). (Table 1)

The MLS® HPI provides the best way of gauging price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in August 2018 was just over $475,500, up 1% from the same month last year.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts almost $94,000 from the national average price, trimming it to just under $382,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Benefits of Buying Winnipeg Commercial Real Estate

Commercial real estate is a long-term investment but can have many benefits in the long run. If you’re interested in investing in commercial real estate in Winnipeg, here is a list of the benefits that might help to make your decision a little easier:

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegEquity Upside

The great thing about buying commercial real estate in Winnipeg is that your monthly loan payments help you build equity. That is because a portion of the monthly payments go towards your principal loan. When you decide to one day sell your commercial property, you can extract the difference between the remaining loan amount and the market value as equity for the business.

 

 

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegAsset Appreciation

Owning commercial real estate also allows you to take advantage of asset appreciation. This appreciation represents the increase in the value of your property over time. When you eventually sell your commercial property, you earn capital gains equal to the difference between the purchase price and the market value.

 

 

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipegPotential to Rent

Companies that invest in commercial real estate generally take up to about 50% of the space. The good thing about owning your space is you can rent out the remaining empty space. There is a lot of potential in boosting your income and helping pay down your loan when renting to tenants. The only downside of this is you are now a business owner and a landlord, which can come with some added responsibility, so that is something you may want to consider.

 

Tax Benefits

When you invest in commercial real estate in Winnipeg you can deduct the following come tax time:
-Interest expense
-Depreciation expense
-Non-mortgage related expenses

Those are just a few benefits of buying winnipeg commercial real estate. For more information contact RE/MAX professionals Commercial today!

Canadian home sales activity strengthens in July

Ottawa, ON, August 15, 2018 – Statistics released today by The Canadian Real Estate Association (CREA) show national home sales were up from June to July 2018.

Highlights:

  • National home sales rose 1.9% from June to July.
  • Actual (not seasonally adjusted) activity was down 1.3% from July 2017.
  • The number of newly listed homes edged down 1.2% from June to July.
  • The MLS® Home Price Index (HPI) in July was up 2.1% year-over-year (y-o-y).
  • The national average sale price edged up 1% y-o-y.

National home sales via Canadian MLS® Systems rose 1.9% in July 2018, building on increases in each of the two previous months but still running below levels recorded from mid-2013 to the end of last year (Chart A). Led by the Greater Toronto Area (GTA), more than half of all local housing markets reported an increase sales activity from June to July.

Actual (not seasonally adjusted) activity was down 1.3% y-o-y. The result reflects fewer sales in major urban centres in British Columbia and an offsetting improvement in activity in the GTA.

“This year’s new stress-test on mortgage applicants continues to weigh on home sales but its effect may be starting to fade slightly in Toronto and nearby markets,” said CREA President Barb Sukkau. “The degree to which the stress-test continues to sideline home buyers varies depending on location, housing type and price range. All real estate is local, and REALTORS® remain your best source for information about sales and listings where you live or might like to in the future,” said Sukkau.

“Improving national home sales activity in recent months obscures significant differences in regional trends for home sales and prices,” said Gregory Klump, CREA’s Chief Economist. “Regardless, rising interest rates and this year’s stress test on mortgage applicants will likely prove to be difficult hurdles to overcome for many would-be first time and move-up homebuyers, heading into the second half of the year and beyond.”

The number of newly listed homes retreated 1.2% in July and stood below monthly levels recorded over most of the past eight years. New listings were down in more than half of all local markets, led by Calgary, Edmonton and Greater Vancouver (GVA). Fewer new listings in these markets more than offset an increase in new supply in the GTA.

With sales up and new listings down, the national sales-to-new listings ratio tightened further to reach 55.9% in July. This reading nonetheless remains within short reach of the long-term average of 53.4% for this measure of market balance.

Considering the degree and duration to which market balance readings are above or below their long-term average is a useful way of gauging whether local housing market conditions favour buyers or sellers. As a rule of thumb, measures of market balance that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, about two-thirds of all local markets were in balanced market territory in July 2018.

The number of months of inventory is another important measure for the balance between housing supply and demand. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 5.3 months of inventory on a national basis at the end of July 2018, down from 5.4 months in June and near the long-term average of 5.2 months.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) was up 2.1% y-o-y in July 2018. This represents the first acceleration in y-o-y home price growth since April 2017. It also suggests that the dip in home prices last summer and their subsequent rebound in and around the GTA may contribute to further y-o-y gains in the months ahead.

Apartment units posted the largest y-o-y price gains in July (+10.1%), followed by townhouse/row units (+4.7%). By contrast, one-storey and two-storey single family home prices were again down from year-ago levels in July (-0.7% and -1.5% respectively) but the declines were noticeably smaller than in recent months.

Trends continue to vary widely among the 15 housing markets tracked by the MLS® HPI, with home prices up from year-ago levels in eight of them, little changed in two of them and down in the remainder.

Home price gains are diminishing on a y-o-y basis in the Lower Mainland of British Columbia (GVA: +6.7%; Fraser Valley: +13.8%), Victoria (+8.2%) and elsewhere on Vancouver Island (+13.7%).

Among Golden Horseshoe housing markets tracked by the index, home prices remained above year-ago levels in Guelph (+4.1%) and stabilized in Oakville-Milton (+0.1%). By contrast, home prices remained down on a y-o-y basis in the GTA (-0.6%) and Barrie and District (-3%).

In the Prairies, benchmark home prices remained down on a y-o-y basis in Calgary (-1.7%), Edmonton (-1.3%), Regina (-4.8%) and Saskatoon (-2.1%).

Meanwhile, benchmark home prices rose by 7.2% y-o-y in Ottawa (led by an 8.3% increase in two-storey single family home prices), by 5.7% in Greater Montreal (led by a 7% increase in townhouse/row unit prices) and by 5% in Greater Moncton (led by a 9.9% increase in apartment unit prices). (Table 1)

MLS® HPI provides the best way of gauging price trends because average price trends are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in July 2018 was just under $481,500, up 1% from the same month last year. This was the first year-over-year increase since January.

The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive markets. Excluding these two markets from calculations cuts close to $100,000 from the national average price, trimming it to just under $383,000.

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PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month. 

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types. 

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale. 

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations. CREA works on behalf of more than 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:

Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

Tips on selling your commercial property for sale in Winnipeg

Are you looking to sell your commercial property for sale in Winnipeg? Here are some tips on what you’ll need to do to get your commercial space ready for sale.

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipeg,commercial property for sale in winnipeg,commercial property winnipegBe Patience

When selling commercial real estate in Winnipeg you’ll need to realize that it can take some time. It generally takes longer to sell commercial real estate than residential real estate. You may need to prepare yourself for a slow start and have a plan to accommodate that.

 

 

 

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipeg,commercial property for sale in winnipeg,commercial property winnipegLearn about the Appraisal Process

As with selling your commercial property, appraisals for commercial properties are much different than residential properties. Ask your Winnipeg commercial real estate agent what you need to ask, and what you will need to provide the appraiser.

 

 

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipeg,commercial property for sale in winnipeg,commercial property winnipegCurb Appeal is Everything

Do a good inspection of the exterior of your building. Make sure the parking lot is free of any garbage and debris. It may be a good idea to power wash the concrete as well. While you have that power washer out, take it to the exterior walls of your building, and also give those windows a good clean, and repair any broken or cracked windows. Lastly, make sure that any plants or trees near your building are trimmed down, so that they are not blocking any windows.

 

 

winnipeg commercial real estate,winnipeg commercial real estate for sale,commercial property for sale winnipeg,commercial property for sale in winnipeg,commercial property winnipegDon’t Neglect the Interior

Inspect the interior of your commercial space to ensure there is everything is in tip top shape. If there are any scuffs on the wall or chipped paint, you may want to give it a new paint job. Also check the floors or carpets. Vacuuming and steam cleaning the carpets will get rid of any odors and give it a brand new look and feel. Also clean up any clutter and store any boxes away in a storage locker.

 

 

Those are just a few tips for selling your commercial property for sale in Winnipeg. more information contact RE/MAX professionals Commercial today!

Data Related to Nearby Schools Added to Listings on REALTOR.ca

Ottawa, ON August 1st, 2018 – Canadian parents have always asked their REALTORS® about nearby schools when considering a new home and starting today they’ll be able to access school catchment information when looking at property listings on REALTOR.ca, Canada’s #1 real-estate website.

New school catchment information on REALTOR.ca will rollout nationally in phases, with major centers available now (see list below). Coverage will grow to 80% of school boards in Canada by September. An additional feature allowing parents to search for a property within a particular school’s catchment area will be available later in the fall.

“When searching for a home, having supplementary school catchment areas available will help homebuyers make better, more informed decisions when it comes to selecting a home that meets their families’ needs,” said James Mabey, a REALTOR® from Edmonton. “Consumers look beyond pricing, or the number of bedrooms and bathrooms, and expect REALTOR.ca to have the latest information on a property.”

Earlier this spring, CREA partnered with Local Logic to add neighbourhood specific lifestyle information to REALTOR.ca property listings.

“We’re very excited to continue expanding our relationship with REALTOR.ca and work with them to develop meaningful products that showcase advances in Canadian real estate technology,” stated Vincent-Charles Hodder, CEO of Local Logic.

To learn more about the new school catchment feature, please visit REALTOR.ca and look for a listing in the current coverage zones.

Cities currently covered: Toronto, Montreal, Vancouver, Calgary, Ottawa-Gatineau, Edmonton, Quebec, Winnipeg, Hamilton, Kitchener-Waterloo, London, St Catharines – Niagara, Halifax, Oshawa, Victoria, Windsor, Saskatoon, Regina

Cities to be added by September: St. John’s, Barrie, Kelowna, Abbotsford-Mission, Sudbury, Kingston, Saguenay, Trois-Rivières, Guelph, Moncton, Brantford, Saint John, Peterborough, Thunder Bay, Lethbridge, Nanaimo, Kamloops, Belleville, Chatham-Kent, Fredericton, Chilliwack, Sherbrooke.

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About Local Logic
Local Logic collects and shares location characteristics to assist prospective buyers, and real estate professionals, in finding just the right spot. Scores ranging from walkability, nearby transit and even street sound levels paint a virtual picture of the location before even setting foot on the property.

About The Canadian Real Estate Association
REALTOR.ca is owned and operated by The Canadian Real Estate Association (CREA), one of Canada’s largest single-industry trade associations. CREA works on behalf of 125,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers. REALTOR.ca provides trusted, up-to-date and comprehensive property advertisements for residential, commercial and rental properties across Canada. Whether you have just started looking or you are ready to make that important purchase, REALTOR.ca connects you to valuable resources and local REALTORS® to help you find your dream property.

For additional information, please contact:
Steve La Barbera
Media Relations, Local Logic
T: 438-994-6444
E: steve@ftgdigital.com

Linda Kristal, Director, Communications
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E: lkristal@crea.ca