The Canadian Real Estate Association (CREA) recently released national sales statistics for October of 2021.
According to the report, "On a year-to-date basis, some 581,275 residential properties traded hands via Canadian MLS® Systems from January to October 2021, surpassing the annual record of 552,423 sales for all of 2020."
“After a summer where it looked like housing markets might be calming down a bit, October’s numbers suggest we might be moving back towards what we saw this Spring, with regards to current market demand and supply conditions,” said Cliff Stevenson, Chair of CREA. “That said, one month of data is not a trend, so we’ll be watching how the balance of this memorable year plays out closely. And remember, in what is still a rapidly changing landscape, your local REALTOR® can provide much more granular and timely information and guidance about what is going on in the neighbourhoods where you live or where you might like to in the future,” continued Stevenson.
Highlights of CREA's report
National home sales rose 8.6% on a month-over-month basis in October.
Actual (not seasonally adjusted) monthly activity was down 11.5% on a year-over-year basis.
The number of newly listed properties climbed by 3.2% from September to October.
The MLS® Home Price Index (MLS® HPI) rose 2.7% month-over-month and was up 23.4% year-over-year.
The actual (not seasonally adjusted) national average sale price posted an 18.2% year-over-year gain in October.
Read the entire report on Canadian MLS® sales for October of 2021.
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Norm Fisher
Royal LePage Vidorra
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