{"id":100,"date":"2015-11-30T16:16:40","date_gmt":"2015-11-30T16:16:40","guid":{"rendered":"https:\/\/www.realestateleads.ca\/blog\/?p=100"},"modified":"2015-11-30T16:29:04","modified_gmt":"2015-11-30T16:29:04","slug":"simmering-hot-vancouver-and-toronto-markets-push-canadian-home-sales-higher-in-4q","status":"publish","type":"post","link":"https:\/\/www.realestateleads.ca\/blog\/simmering-hot-vancouver-and-toronto-markets-push-canadian-home-sales-higher-in-4q\/","title":{"rendered":"Simmering hot Vancouver and Toronto markets push Canadian home sales higher in 4Q"},"content":{"rendered":"
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\"Hot<\/a>
\nOver the course of the past year Toronto home sales gained 3% to 8,620. Vancouver home sales rose by 7.6% in October to 3,748; for a gain of 19% from 1 year ago.<\/p>\n

Canada\u2019s home sales figures expanded in November to the 2nd highest levels in 6 years as demand held strong in the persistently hot home markets in Vancouver and Toronto metro areas.<\/p>\n

However, the upward momentum wasn\u2019t shared across the provinces. There were a number of markets where sales posted a monthly increase and those where sales fell, about evenly split. Across the country, overall this past year, sales rose 0.1%.<\/p>\n

Prices in Vancouver metro were up 15.4% over the year. Greater Toronto was up 10.4%.<\/p>\n

Prices for homes nationally as sold in October was $454,867, up 8.2% driven by the Toronto and Vancouver markets.<\/p>\n

Aside from the Toronto & Vancouver markets, the average was $338,923, up 2.4% from a year ago.<\/p>\n

Bank of Montreal\u2019s chief economist\u2019s have reported that the housing market has split into 3 basic groups: 1) Vancouver and Toronto – hot as an oven baking bread, the Prairie areas sagging along with the decrease in price of oil, and a middle-ground group that includes areas like Montreal and Ottawa. Saskatoon, Regina , Edmonton, Calgary had all posted double-digit sales declines in October and so far in November. Strikingly, Calgary\u2019s home sales decreased 36% per cent from the past year; similarly across much of Alberta & Saskatchewan.<\/p>\n

Crude oil prices are currently around $45(US) per barrel after a climb up to about $62(US) a barrel back in June. Over the year, the price of crude has dropped majorly from above $110(US) one year ago.<\/p>\n

Canadian buyers are still in the market mostly to buy detached homes; which have been in short supply in Vancouver and Toronto. At the end of October there were 5 1\/2 months of national inventory, down from 5 3\/4 months in September. The smaller supply and constant demand has ebbed home prices higher; despite the options in term of the availability of condominiums.<\/p>\n

This past October saw a greater divergence of Vancouver pricing from the whole rest of the country.<\/p>\n

Sales-to-new listings ratio was 58% in October across Canada. A sales-to-new listings ratio between 40-60% implies generally consistent and balanced housing market conditions.<\/p>\n

What do you think the future is going to bring for all these markets? We\u2019d love to hear your opinions. Free free to give us a call, even just to say hi, at 1-800-728-6577.<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the course of the past year Toronto home sales gained 3% to 8,620. Vancouver home sales rose by 7.6% in October to 3,748; for a gain of 19% from 1 year ago. Canada\u2019s home sales figures expanded in November to the 2nd highest levels in 6 years as demand held strong in the persistently […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[24,25,26,23,22],"class_list":["post-100","post","type-post","status-publish","format-standard","hentry","category-general-topics","tag-home-sales","tag-hot-market","tag-strong-market","tag-toronto","tag-vancouver"],"yoast_head":"\nSimmering hot Vancouver and Toronto markets push Canadian home sales higher in 4Q - Real Estate Leads Blog<\/title>\n<meta name=\"description\" content=\"Simmering hot Vancouver and Toronto markets push Canadian home sales higher in 4Q - Real Estate Leads Blog\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.realestateleads.ca\/blog\/simmering-hot-vancouver-and-toronto-markets-push-canadian-home-sales-higher-in-4q\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simmering hot Vancouver and Toronto markets push Canadian home sales higher in 4Q - 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