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Home prices stabilizing in most prairie markets except Regina: CREA

Posted on March 16, 2020 by Norm Fisher, Royal LePage Vidorra

Posted in CREA, Market News

Home prices stabilizing in most prairie markets except Regina: CREA

The Canadian Real Estate Association (CREA) recently released national sales statistics for February of 2020.

According to the report, "Home sales recorded over Canadian MLS® Systems rose by 5.9% in February 2020, marking one of the larger month-over-month gains of the past decade. Transactions surpassed year-ago levels in about 80% of all local markets, including all large urban markets."

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.7% in February 2020 compared to January, marking its ninth consecutive monthly gain."

The MLS® HPI was up in February 2020 compared to the previous month in 15 of the 19 markets tracked by the index. As of this release, Winnipeg is in the MLS® HPI."

Looking at the big Prairie markets, home price trends have ticked downwards in Calgary and Edmonton to start 2020 but have generally been stable since the beginning of last year. Prices in Saskatoon have also been stable over the last year, while those in Regina have continued to trend lower. Prices in Winnipeg have been on a slow upward trend since the beginning of 2019."

Highlights of CREA's report

National home sales climbed 5.9% on a month-over-month (m-o-m) basis in February.
The actual (not seasonally adjusted) activity was up 26.9% year-over-year (y-o-y).
The number of newly listed properties jumped 7.3% m-o-m.
The MLS® Home Price Index (HPI) advanced by 0.7% m-o-m and 5.9% y-o-y.
The actual (not seasonally adjusted) national average sale price climbed 15.2% y-o-y.

Read the entire report on Canadian MLS® sales for February 2020.

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Norm Fisher

Royal LePage Vidorra

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Norm Fisher, TeamFisher

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 750 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.

The Saskatchewan REALTORS® Association (SRA) IDX Reciprocity listings are displayed in accordance with SRA's MLS® Data Access Agreement and are copyright of the Saskatchewan REALTORS® Association (SRA).

The above information is from sources deemed reliable but should not be relied upon without independent verification. The information presented here is for general interest only, no guarantees apply.

Trademarks are owned and controlled by the Canadian Real Estate Association (CREA). Used under license.

MLS® System data of the Saskatchewan REALTORS® Association (SRA) displayed on this site is refreshed every 2 hours.

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