At this point in Canada’s seemingly inexhaustible real estate boom, when the number of homes on the market is scraping rock bottom, any increase in sales is near miraculous.
One stat to keep an eye on is the sales-to-new-listings ratio, which is a solid indicator of supply-demand dynamics.
Sales in Ontario were down 20.8 per cent compared to September 2020, but they were still 11.8 per cent higher than the ten-year average for the month, according to the Ontario Real Estate Association.
The number of new listings was down 25.6 per cent versus last September, and was the lowest figure recorded for the month in more than a decade.
In the Greater Toronto Area, the average price of detached, semi-detached and townhouse properties all increased by more than 20 per cent .
According to data from the British Columbia Real Estate Association , sales were down 19.9 per cent year-over-year in September.
Prices in B.C.’s largest cities, Vancouver and Victoria, continue rising, but at a less scorching pace.
Active listings for single-family homes and condos were both down by more than 25 per cent in September, which helped drive the price of each asset class higher.
While prices in Quebec City fall well within the provincial averages, those in Montreal can be considerably higher.
Sales dipped between 12 and 20 per cent in Regina, Saskatoon and Winnipeg, with the average price in Regina increasing by 11.5 per cent.
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