According to CREA's latest data, not a single market across Canada was found to favour buyers. CREA_ACI | realestate realestatenews realestatemarket Canada
Calgary, with a ratio of 86%, is the deepest in seller’s territory. Although the city has historically had prime buying conditions, Justin Warthe, an agent with RE/MAX House of Real Estate, told STOREYS the reason for the city’s shift stems from a “diversification in the economy,” with growing tech and film industries luring talent away from other Canadian cities.
“There’s a lot of positive sentiment happening in the market right now,” Wharthe said. “Calgary is definitely the next Canadian market to watch and to invest in. If you could have purchased in Ontario or British Columbia 10 years ago, you would have.”Data from theshows new listings declined 20.6% annually in March to 1,273, the lowest number for the month in over 15 years, while sales fell 38.9% year over year. In Halifax-Dartmouth, Atlantic Canada’s largest market, sales declined 41.
Cherington noted that any home that has been “properly fixed up” will sell above the listed price. In Halifax, the average home price declined 9.9% year over year in March but, at $542,198, it was only 3.8% below the April 2022 peak. “We are definitely seeing the market pick up,” Pedri said. “On top of the normal spring market, what’s really driving the change is interest rates plateauing, and rumours that they’ll be going down in the fall. Buyers are choosing to ‘date the rate and marry the house,’ leading to a lot of competition.”
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