New HouseSigma data analysis on January 2026 market statistics (see infographic below) show a series of six market trends that were also seen recently in Greater Toronto, Metro Vancouver, and Greater Calgary prior to residential resale prices declining in those regions.

1. Sales have dramatically declined: HouseSigma’s sales data shows Greater Edmonton sales fell 26.3% year-over-year, from 1,592 to 1,173. The RAE’s official Greater Edmonton figure is similar, a decrease of 27.6 per cent compared with January 2025. When sales drop, prices usually follow, often with a three- to six-month lag.

2. Inventory is surging: Realtors Association of Edmonton reports 4,901 active listings in January, 32.7% higher than January 2025. The slowing of sales combined with new listings coming on stream has exponentially increased inventory levels.

3. Market absorption is plummeting: The sales-to-active listings ratio puts Greater Edmonton firmly into buyers’ market territory. This ratio is a leading indicator of where prices are heading, as when buyers have the upper hand, prices inevitably fall.

4. Homes are taking much longer to sell. Average cumulative days on market lengthened to 90 days, from 71 a year earlier. The longer homes take to sell, the more prices have to eventually fall — and the less pressure buyers have on them to pay full price. 

5. The share of homes selling above asking has collapsed, while below asking has risen: Our infographic shows only 12.7% of January 2026 sales went over asking, while 79.6% sold below list. This below-list proportion has dramatically increased compared with same metric across all of 2025.

6. The benchmark price has already started to crack: While median prices in HouseSigma data still show small year-over-year gains, the MLS Home Price Index — which controls for the mix of homes selling — tells a different story. RAE reports that the composite benchmark price in Greater Edmonton was $415,000, decreasing 0.1% from December 2025 and 1% year-over-year. 

“Greater Edmonton is clearly a transitioning market. Sales have slowed and inventory is building, which typically puts downward pressure on prices. I expect we’ll see moderate price adjustments in 2026, particularly in the condo segment, but not a severe correction. Affordability and steady demand fundamentals should help prevent a dramatic drop.”

Jay Sandhu, leading HouseSigma agent in Edmonton

Even the notable market outliers are demonstrating lower over-asking extremes. The home that sold in January for most over asking price, by both dollar amount and percentage, was this 1970s Sherwood Park house. It sold for $100,100 over its $449,900 asking price, which was a 22.2% premium — generous, but not as high as some of the outliers we saw in the region last year.

The residential property that went for most under asking by dollar amount was an architecturally striking five-bedroom house in the Heritage Valley area, which sold for $349K less than its $2,499,000 list price. By percentage amount, the home that lost the most was a manufactured home in Gibbons, the final sale price of $75K being 24.2% lower than its $94,900 asking price.

Check out the January 2026 Greater Edmonton PriceWatch infographic below for more real estate market data, including breakdowns by property type and municipality.

Keep your eye on our Alberta blog page to stay up to date with market trends, sales data, and remarkable listing stories.

The post Infographic: Greater Edmonton home prices poised to fall in 2026, market indicators reveal appeared first on HouseSigma.

And come July 13, they may need to dig even deeper. That’s the next Bank of Canada meeting, when it’s widely expected that BoC will make its largest rate hike yet this year: 75 basis points.

“If you’re looking to buy a house in Canada, it’s imperative to speak to a mortgage broker and lock in at the current rates,” says Michael Carney, Director of Business Development at HouseSigma, and an active realtor in the GTA. “Otherwise, you risk grappling with the highest stress test Canadians have ever faced,” he adds.

Bank of Canada’s overnight lending rate currently sits at 1.5 per cent. It hasn’t been above 1.75 per cent since the stress test was introduced in 2016. 

“If the Bank of Canada raises rates a further 0.75 per cent like anticipated, we’re looking at an overnight lending rate of 2.25 per cent. That means Canada’s stress test will be in uncharted territories,” explains Carney.

What is Canada’s mortgage stress test, exactly?

Simply put, borrowers need to show that they can afford to pay their mortgage at a higher rate. They need to either qualify at 5.25 per cent, or two per cent higher than what the bank is offering, whichever is greater. (The stress test used to apply to mortgages with down payments of less than 20 per cent. As of June 2021, it applies to all mortgages).

Let’s compare with the last time BoC rate was 1.5 per cent.

Even at the same BoC rate, you can see that banks today are offering higher rates.

Effects of the mortgage stress test if Bank of Canada rate hits 2.25%

The last time BoC rate was 2.25 per cent was back in April 2009. Even then, the discounted mortgage rate was only 3.85 per cent. And there was no stress test to pass in 2009.

If BoC does indeed hike rates 75 basis points, the stress test will truly put stress not just on new borrowers, but also people whose mortgages are up for renewal.

This is where Hao Li, a Vancouver-based broker with HouseSigma, sees a possible stress test of seven per cent or more if BoC lives up to speculation.

“For people who are up for renewal, they should ideally shop around for the best rate – but that means facing the higher stress test. The only way to avoid that is to stay with their current lender, but that could mean paying a higher rate than necessary,” explains Li. 

“In fact, some people may already have shopped around and found that they couldn’t pass the higher stress test, leading them to renew with their current lender at a less attractive rate. This could happen in cases where buyers had stretched themselves to their budgetary limits when they first purchased their home,” adds Li.

How does the mortgage stress test affect buying power?

Here’s a simplified scenario (mortgage amortized over 25 years)

July 2017: You need a $500,000 mortgage. At a stress test of 5.25 per cent, you need to show you can make payments of $2,980 every month. 

July 2022: For that same $500,000 mortgage, a stress test of 7 per cent means you need to show you can make payments of $3,502 every month. 

“As the Canadian real estate market cools, many buyers may be looking to take advantage of lower pricing and increased inventory, but the stress test will present a significant challenge for first time homebuyers,” explains Carney. “Buyers will either make up the difference with a higher down payment, or reduce their budget. 

Looking to stay informed on how the real estate market is doing in BC and Ontario? Sign up with HouseSigma. Our AI pulls real-time data for the most up-to-date market trends and sold data.

The post Stressing Canada’s Mortgage Stress Test appeared first on HouseSigma.

But it seems home buyers are opting out of actually buying – and opting in to rent.

Home buyers are waiting for more drops in Vancouver real estate market

HouseSigma’s AI-powered platform tracks Metro Vancouver’s real estate market.

“Even with the market cool down, Vancouver is still one of the least affordable places in the world,”  says Hao Li, a broker with HouseSigma. “In addition, home buyers now want to wait and see if the prices drop even more, so they are renting instead.”

While Vancouver’s listed-to-sold properties ratio dropped by 52 percent year over year, rental demands are increasing. In fact, Vancouver now has the lowest rental vacancy rate across all of Canada’s major cities – going down by 53 percent between 2021 and  2022.

In Vancouver’s market cooldown, rental prices are going up

Less availability means higher prices. HouseSigma reports that while Vancouver’s median property prices are down as much as 28.3 percent since February, MLS data compiled by HouseSigma shows Vancouver rental prices increased, from $2500 in June 2021 to $3400 in June 2022. 

“The rental market in Metro Vancouver has always been competitive. But we’re seeing a trend now where buyers who can afford to buy are choosing not to buy. Instead, they are biding their time to see if prices go down further,” explains Li. “These buyers have to live somewhere, adding pressure to the rental market.”

Looking for real-time data on Vancouver’s real estate market? Sign up for a HouseSigma account.

Get free, instant access to all the real estate data our AI compiles. Create a watchlist, track properties, and see how homes are moving in the neighbourhoods that interest you.

The post In Vancouver’s market cooldown, rental prices are going up appeared first on HouseSigma.

If you thought rising rates would have a temporary cooling effect on the housing market – well, time to rethink. Looks like ‘temporary’ is turning into a bonafide trend.

Amid this unpredictability, Canadian home buyers can look to our AI-powered real estate platform to track the housing trends. This time around, we’re looking at how much Metro Vancouver home prices have dropped in June.

It’s more good news for buyers, but not so much for sellers. Last month, medians* dipped a further two per cent from May. Averages for all property types have slid 13.5 per cent since February. But certain municipalities stand out.

Metro Vancouver municipalities see median* home prices drop significantly.

Leading the way is Delta, with median* home prices dropping 28.3 per cent since February. Surrey and Maple Ridge aren’t far behind, down 23.4 per cent and 23.2 per cent respectively.

In Delta, the average price for all property types fell to $1.165M, down from a 15-year high of $1.625M in February. In Surrey, median* prices went from $1.1M in February to $843K in June. In Maple Ridge, the average went from $1.25M to $960K. 

“Median prices have been dropping consistently and considerably since the Bank of Canada started hiking interest rates earlier this year,” says Hao Li, a Vancouver-based broker with HouseSigma. 

“We’re in a market where buyers are feeling emboldened. More and more buyers are holding the upper hand in real estate transactions, sensing that there’s an opportunity here to successfully negotiate with sellers for a lower purchase price.”

How Metro Vancouver’s overall real estate market is shaping up

In BC’s cooling real estate market, potential home sellers may be wondering how much their property is worth. The numbers are not in their favour.

“The dropping percentages are drastic, but remember that we’re still in correction-mode,” explains Li. “During the pandemic, interest rates were at an all time low, and there was a real estate buying frenzy. It led to over-inflated home prices.

“The year over year percentage nearing zero means we’re approaching June 2021 prices. Most would still consider those prices high and unaffordable.”

So far, Metro Vancouver median* prices for all property types have dropped from $1.028M in February to $889K in June.

Year over year though, median* prices in Metro Vancouver are still up, but just 0.5 per cent. 

In June 2021, the median* price for all properties averaged $885K. In June 2022, the average was $889K.

Bank of Canada may hike rates again

Canada is doing what it can to stem the tide of inflation. The Bank of Canada has been systematically raising rates since March, and it’s due to meet again July 13.

It’s widely expected that BoC will raise the rate once more at that meeting. Canada’s inflation stands at 7.7 per cent, the highest it’s been since 1983. Back then, the overnight lending rate was close to 10 per cent. The current lending rate is a mere fraction of that, at 1.5 per cent.

“A July interest rate hike could potentially dial back Metro Vancouver home prices to pre-pandemic levels. It all depends on how aggressive the Bank of Canada is willing to go with rates to battle inflation,” adds Li.

*Median home price is the midpoint of sales prices where an equal number of properties were sold above and below this sales price; whereas Benchmark home price is the estimate of the value of a “typical” home in a community, based on the most popular combination of features, e.g., age, size, number of bedrooms and bathrooms.

Are the rising interest rates a major factor in your home-buying journey? Stay up-to-date with a HouseSigma account. Get free, instant access to all the real estate data our AI compiles. Create a watchlist, track properties, and see how homes are moving in the neighbourhoods that interest you.

The post Metro Vancouver Median Home Prices Down 13.5% Since February appeared first on HouseSigma.

That’s why at HouseSigma, we’ve enhanced our school zones and demographics features for those looking to buy a family home in Vancouver.

“With interest rates cooling the Vancouver real estate market, families suddenly have an opportunity this summer to be more selective about their forever family home,” says Hao Li, a Vancouver-based broker with HouseSigma. “They can take time weighing the factors that are most important to them in a family home.”

“Parents want the best education for their kids. We’ve made it easier for them to find a home that meets this need,” says Hao Li, Vancouver-based broker with HouseSigma. “Families can now see all the properties that fall within a school’s district, as well as that school’s rating.”

How to find a Vancouver family home that suits your needs

On HouseSigma’s Map Search view, click on the little red hat icon at the bottom right on App or the red School button at the top left of the map on Desktop. Toggle to see schools, and then zero in on the school of your choice.

Take a look at our example of Shaughnessy Elementary. When you click on the school, it immediately highlights the school zone. 

Now, you have an instant visual of all the for-sale homes that fall within the school’s boundaries.

Clicking on the school goes beyond just the basic information like the school type and board. HouseSigma’s AI uses reported test scores to create an annual rating for schools in Vancouver, dating back to 2015. Families can compare the school’s performance over the last seven years.

Find the perfect neighbourhood for your new family home

To support a family’s pursuit of the perfect Vancouver home, HouseSigma also compiles demographic data from Statistics Canada.

“Every property has StatsCan data that includes households with children, the percentage of rentals in the neighbourhood, average age, household income, and so on,” adds Li. 

“Data like this is perfect for say, young families who are hoping their children can grow up with neighbourhood friends. They can narrow their search to look at communities with more kids and fewer rentals, meaning less turnover.”

Enhancing these features means that those looking for a family home in Vancouver can have the school and community information they need, right at their fingertips.

The Bank of Canada started increasing its overnight lending rate back in March to combat inflation. The rate currently stands at 1.50%. BoC meets again on July 13th, 2022 to discuss another potential hike.

“We simply don’t know how high rates will go. There’s speculation that BoC will raise rates as high as three percent to stem the tide of inflation. Families locking in a rate before the next BoC meeting may get the best rate available to them for the foreseeable future,” says Li.

Are you in the market for a family home? Sign up for a free HouseSigma account and to get the most comprehensive real estate information to make the best real estate purchasing decision.

The post Find Your Next Home Using School Zones and Demographics Features appeared first on HouseSigma.

HouseSigma’s AI analyzes historical data from real estate boards in BC and compiles data from June 2021 to June 20, 2022. Here is a look at the communities in Vancouver, West Vancouver, and North Vancouver that experience the biggest median detached home price drop year over year.

*Rolling medians on our reports can vary slightly due to HouseSigma’s real time data

**We could list every city and every neighbourhood in a blog post, but the post would be quite long! Please visit our Market Trends page for the communities that interest you to get the latest data.

Vancouver’s Shaughnessy had median detached home values drop by 25% percent. West Vancouver’s British Properties dropped 16%. And in North Vancouver, Edgemont saw its detached home prices dip 12%.

“Shaughnessy and British Properties are well-recognized among Metro Vancouver residents as ‘luxury’ home markets. To see these neighbourhoods experiencing the biggest median home price dips within their cities is a little surprising,” says Hao Li, a broker with HouseSigma.

“Luxury home markets tend to be more immune to interest rate hikes,” Li explains. “Buyers in these areas are likely not salary dependent. They probably have multiple sources of income and have kept a close relationship with the bank. So the likelihood of the bank granting them a mortgage will be higher based on their assets, not salary level.”

“That being said, when you see areas like Shaughnessy or British Properties drop double digits, you can’t help but pay attention to what’s happening to the housing market as a whole,” adds Li.

“Keep in mind, in affluent home markets, there tend to be fewer properties making up the overall picture,” adds Li. “This means averages and medians could change significantly based on just one or two sales. The advantage of HouseSigma’s platform is that you can find hyper-specific information on the communities you’re interested in, and see how properties are faring in those areas.”

Looking at the broader picture, West Vancouver has experienced a 12% drop in overall detached home prices year over year. But Vancouver and North Vancouver are still ahead year over year, at 35% and 19% growth, respectively.

“Seeing Vancouver’s median detached home prices still up 35 percent year over year, it makes you wonder just how high rates need to go before those averages hit the negative mark,” adds Li.

The Bank of Canada’s next meeting is July 13th. The BoC will decide then if it will raise its overnight lending rate for the fourth time this year. The rate currently stands at 1.5%. BoC started raising rates in March to combat inflation.

Are you looking to buy, sell, or invest in a property? Sign up with HouseSigma and start searching for your next home on your own terms. Our AI updates stats in real time, giving you the most up-to-date information in the communities you’re interested in.

We’re constantly adding to the site’s features, in our attempt to make your real estate journey a transparent one.

The post Wealthy Communities in Metro Vancouver are dipping appeared first on HouseSigma.

Introduction

The resale housing market experienced unprecedented upward price growth in Ontario and the Greater Toronto Area (GTA) during the pandemic. This was due to a combination of low interest rates, increased investor activity, and the shifting preferences due to thousands of Ontarians working from home. The market peaked in early 2022, as has started to trend downward over the past couple of months.

Ashkam Rahimi, the Director of Sales at HouseSigma Inc. described the market in January and February of 2022 as “Insane, with 10-15 competing offers on every listing, despite the fact that many prospective buyers had given up in late 2021 due to the frustration of being outbid.” However, Rahimi mentioned that “the slowdown that started in March has brought some of those frustrated buyers back to the table this year, as most listings are getting three or fewer offers, but buyers remain cautious.”

This report will look at data that backs up Rahimi’s anecdotal findings, showing the market peaked, with a pull-back in demand and pricing over since the beginning of March. 

HouseSigma with the help of Bullpen Research & Consulting Inc. pulled together data on the median price of sales, the average days on market, total terminations, the termination rate, and the average price per-square-foot for condominiums in GTA and specific high-activity municipalities. 

Median Pricing by Property Type

Figure 1 presents data on the median price of residential resale transactions in GTA by property type from the start of October to May 25, 2022. 

The resale market has cooled off since the end of February, as all property types experienced declines in their median resale price between February 2022 and April 2022. 

In May 2022 (first 25 days only), the median price has fallen further, with single-detached pricing down 5.8% month-over-month and 15.7% since February to $1.4 million. 

Condominium apartments are faring slightly better than the other property types, with a monthly decline of 2.9% and a 6.2% decline since February to $690,000. 

Monthly Change in Median Pricing for All Property Types

Figure 2 presents data on the median price and monthly change in median price for all property types for the most active municipalities in GTA by resale transactions in May 2022. 

The municipalities experienced monthly increases, with Halton Hills up 4% over April, while Pickering and Toronto both rose by 2%. At the other end of the spectrum, Ajax experienced a substantial monthly decline of 12%, with Caledon and Whitby both down 9%. 

Terminations by Month

If a property is not selling or receiving acceptable offers, a listing may get terminated, or essentially pulled from the market and relisted at a later date. An increase in terminations is an indication of a market softening. 

Figure 3 looks at the total terminated or suspended listings in the GTA by month since October 2021. 

During the peak of the market in the early part of 2022, terminations were at 2,329 in January and 2,575 in February. Through the first 25 days of May, there were 11,263 terminations, an increase of about 385% from January 2022.

Termination Rate by Property Type and Number of Bedrooms

The total number of terminations is a useful figure, but the total number of listings is also changing on a monthly basis, so looking at the share of listings terminated or “termination rate” is also an important number (ie, Total Terminations/Total Listings – because listings carry-over from month-to-month, it is possible to have a termination rate above 100%). 

Figure 4 presents data on the termination rate by property type (top panel) and by the number of bedrooms (bottom panel). The data is broken out for Q4-2021 and Q2-2022, which is April and the first 25 days of May.

In the fourth quarter of last year, condos had the highest termination rate at 46%, with semis and Towns at 26% and singles at 40%. So far in the second quarter, the termination rate for single-detached homes has doubled to 92%, while the rate for condos is the lowest, but still much larger than last year at 75%.

On a bedroom type basis, the larger bedroom types generally had higher termination rates in Q2-2022, with five, six and seven bedroom homes having rates above 100%, meaning there are more terminations than listings for those homes. 

Termination Rate by Municipality

Figure 5 looks at select municipalities in the GTA with at least 200 listings since March, and looks at the termination rate in those markets. 

York Region municipalities are experiencing the highest rates with Richmond Hill at 92%, Aurora at 89% and Georgina at 85%. The City of Toronto remains in the second half of the municipalities at 63%, with Burlingon faring the best at 52%. 

Days On Market by Bedroom Type and Property Type

Figure 6 presents data on the average and median days on market by property type and bedroom type in GTA for March, April, and May 2022.

The average number of days on market has continued to increase each month, implying that it is taking longer to sell units of all bedroom types. Studio units stand out as the bedroom type that has the highest average days on market in May 2022 at 36 days, while one and three bedroom units had the lowest average days on market at 19.

The average number of days on market across all property types has also continued to increase between March 2022 to May 2022. Condo apartment units had the highest average adjusted DOM in May (first 25 days only) at 22 days, while semi-detached units had the lowest average adjusted DOM at 17.

Condominium Price Per-Square-Foot by Municipality

The following chart looks at per-square-foot pricing for Toronto and Mississauga by bedroom type and month (refer to Figure 7). 

Both Mississauga and Toronto have seen their average per-square-foot prices slowly decline between March 2022 to May 2022 for one, two, and three bedroom condo apartments.

One bedroom condo apartments in Mississauga had an average price of $875 psf in May 2022, while two bedroom condo apartments had an average price of $700 psf, and three bedroom condo apartments had an average price of $704 psf. In February, those rates were $980 psf, $787 psf and $806 psf, down 11% to 13%. 

One bedroom condo apartments in Toronto had an average price of $1,043 psf in May 2022, while two bedroom condo apartments had an average price of $900 psf and three bedroom condo apartments had an average price of $872 psf. Per-square-foot prices are down 5% to 8% from the February peak levels. 

Conclusion

After several hot months, the resale market has cooled significantly since February, as all property types have experienced declines in their median resale price. The median price of a single-detached property is down by nearly 16% since the market peak.

The number of terminated listings also increased substantially in May 2022, rising by over 380% since January. These terminations appear to be occurring more frequently in the York Region, with the bedroom communities in the outlying areas of the GTA experiencing the lowest buyer demand currently.

Rahimi of HouseSigma mentions that sellers want to know where their buyers are coming from if they have an existing home to sell, which is an indication that there is currently worry about the direction of the market moving forward, especially in ‘B’ or ‘C’ locations. 

The average days on market has also increased across all bedroom types and property types over the past couple months. The figures are still reasonable, suggesting some sellers have already adjusted to market realities and are looking to move their homes quickly. 

The condominium resale market appears to be faring much better than the single-family market currently, but it is still location-specific. The price per-square-foot for condos in Mississauga is down about 11% from the peak, while Toronto is only down by about 6%. 

The data from early 2022 suggested the market was quite frothy, and the current slowdown is likely better for everyone in the industry. HouseSigma and Bullpen expect a much more balanced market moving forward. 

The post GTA Market Cooldown continues, with detached homes hit the hardest appeared first on HouseSigma.

Many buyers had already locked in a lower rate at the beginning of the year. Today’s data is giving us a wider glance at the full effect of rising rates on BC’s real estate market.

Here are highlights from the latest real estate data compiled by HouseSigma (as of June 1st):

New Westminster (-14.71%) and Port Moody (-11.48%) join Surrey (-14.21%), Maple Ridge (-14.84%), and Langley (-12.00%) in experiencing double-digit dips in median detached home prices.

“We’re now starting to see the full effect of rising interest rates on buyers and sellers’ habits,” says Hao Li, a broker with HouseSigma.  “These double digit dips in detached home averages in areas like Surrey and Maple Ridge highlight the pullback that’s happening in BC’s market.”

The median sold price of all property types in Greater Vancouver for May stands at $922K, which is down 12.11% since February.

Listings are also sitting on the market longer. In May, the average was 32 days. Back in February, before BoC started raising rates, listings were on the market an average of just 9 days. That means listings are sitting 71.9% longer.

“This is an indication that buyers are taking their time, and no longer feel rushed into buying a property,” says Hao Li, a broker with HouseSigma. “They’re realizing that if they wait, they may either see a drop in price, or find a property that ticks off more boxes.”

“An increasing number of listings are being terminated, meaning they haven’t sold during a specified time,” says Li.

“There are a few reasons why a listing gets terminated. One reason is the ‘offer day’ scenario. If the seller doesn’t get an attractive offer that day, the listing will get terminated then relisted as a new listing to once again attract new potential buyers. The seller’s agent may then decide to relist the property. Another reason for a termination is simply that the seller has decided to remove the property from the market, maybe because it has sat too long, or maybe because the seller wants to wait for the market to improve.”

“Buyers scrambled to find a property during the pandemic, raising prices at a pace we’ve never seen before. Since the Bank of Canada started raising rates, buyers have steadily taken a more ‘wait-and-see’ approach to buying a home, and sellers have had to adjust their sale price expectations.”

The Bank of Canada has hinted that it could raise rates to 3% or more to target the country’s rising inflation. Sign up to HouseSigma to get real-time data on real estate and keep track of how rising rates are affecting the market. You can count on HouseSigma’s proprietary AI to compile the most up-to-date estimates on home values, market trends, and investor reports

The post Full Effect of Rising Rates Hitting Metro Vancouver Cities appeared first on HouseSigma.

Conclusion

After an unseasonably hot winter market, the Greater Vancouver is beginning to show signs of cooling this spring. The median price for all property types in the Greater Vancouver has decreased from $1.04 million in February to $960K in April, but we can also see that not all property types and municipalities are being affected equally. 

Detached Homes Surrey and Maple Ridge dropping by more the 10% from February to April, while Burnaby and West Vancouver have moderate increases in median price, 1.3% and 2.5% respectively. Certain communities have increased their price dramatically over the same period with New Westminster outperforming other municipalities with a 9.12% increase in median price.

Terminated Listings have increased dramatically, with 2,488 terminated listings in February to 4,256 terminated listings in April, an increase of 71% with many of these terminated listings then relisted back on the market at a lower price to attract new buyers. To better measure the true days on market for these relisted properties, we’ve aggregated the days on market for any listing that was terminated and relisted within 6 months. When comparing February to April, we’ve seen the Aggregated Days on Market increase by 144% from 9 days to 22 days. During the same period, available inventory has increased 55% from 7,487 to 11,597 active listings.  

This showcases that BC is in a rapidly changing marketplace, and prices are not acting uniformly across Greater Vancouver. However, vigilant buyers are likely to find more value as inventory levels continue to rise.

The post Greater Vancouver Median Home Prices Fall, but Not All Communities Feel the Chill appeared first on HouseSigma.

Conclusion

After a record high in February, the resale market is showing signs of cooling down as all property types have experienced declines in their median resale price in March and into early April. The median price differences of different property types are as follow:

• Freehold townhouses decreased by 22.6%
• Semi-detached houses decreased by 13.5%
• Detached houses decreased by 12.1%
• Condominium decreased by 6.8%

Further evidence of the market slowing down can be found as the Median Aggregated Days on Market, the combined days on market for listings that have been terminated and relisted within one week, has more than doubled since February, while the number of active listings has increased by 76%.

We can also see that this cooldown is not affecting all municipalities equally, with the Township of Brock and the Town of Georgina experiencing the most dramatic drop in median price for Single Family Homes at 29% and 21% respectively, while Toronto’s drop has been less significant at 9%.

The data for April is still coming in but this early data suggests that the high activity and high prices from earlier this year are beginning to stabilize, and the expectation is for a more balanced market moving forward. 

As featured in news outlets such as CTV and Toronto Star:

Property website HouseSigma released data on Tuesday showing the median price of a GTA townhome plunged 22 per cent between Feb. 1 and April 19. Condos showed the least sales decline — 6.8 per cent — in the same period, according to HouseSigma. Semi-detached and detached houses tumbled 13.5 per cent and 12.1 per cent, respectively.

https://www.thestar.com/business/real_estate/2022/04/27/home-prices-tumble-across-the-gta-since-february-peak-with-suburban-townhomes-leading-the-pack.html

“We are starting to see significant drops in some communities of more than 20 per cent for single detached homes in the Greater Toronto Area (GTA)” said Michael Carney, the director of business development at HouseSigma.

https://toronto.ctvnews.ca/housing-prices-drop-up-to-22-per-cent-in-the-toronto-area-1.5879275

New findings from real estate tech platform HouseSigma highlight this clear drop in prices.
Since February 2022, the GTA market is showing a 76% increase in available properties for sale, with the median aggregated days on the market for houses sold up 100%; from six days in Feb, to 12 days in April. This is a clear sign that the recently-frenzied market is dialling back the drama.

https://storeys.com/gta-home-prices-cooling-after-red-hot-run/

The post GTA Home Prices Cooling from Hot Spring 2022 appeared first on HouseSigma.