Can you believe it’s almost May? Now that we’re well into the spring selling season, let’s take a look at Canadian real estate market trends so far in 2015. We found five interesting tidbits that will give you something to talk about with your clients, your colleagues and, of course, your family members.
(Are your families as sick of hearing about real estate as ours are? We just tell them they’re lucky they get to consult with such experts… for free!)
5 Canadian Market Trends
- Real estate in Toronto now costs more than real estate in Rome. Prime residential property in Toronto comes in at roughly $1,225 per square foot, as compared with the Italian city’s $1,073 per square foot, according to a recent study.
- More home buyers than ever before are using Point2 Homes to search for real estate listings… particularly in Toronto! What a coincidence!
- Sales are up and listings are down in Vancouver, making the city a prime seller’s market for the time being. Compared to a 10-year average of sales for the month of January, this year’s results are 14.9% higher than normal. Get more insight into this fiercely competitive market here.
- The Alberta housing market is feeling the sting of declining oil prices. Homes in this province are some of the most affordable in the nation, and there is an influx of listings. Home prices are expected to decline further in the coming months.
- Real estate remains the largest industry in Canada, having surpassed manufacturing way back in 2008. Are you surprised by this statistic?
For more Canadian real estate news, bookmark our Market Trends page on Point2 Homes. Updated frequently, it will help keep you in the know!
What are some market trends in your neck of the woods?