March Madness

The busiest time in the real estate market has begun this mid-March.

The average housing prices went up by 16% bringing the average to more than $500,000- a first.

A four year period was used to ananlyze the national market in order to give a proper analysis of the market and to make it easier to project where the market will be.

In the cities of Calgary and Edmonton, housing markets have been affected due to low oil prices. In Calgary alone, the prices dropped by a three and a half percentage last month on a yearly basis but it has risen almost three times as it has fallen.

Although the national average housing prices have been giving to show the current atmosphere in the housing market, some believe the term ”Canadian market” is nonsensical and that all the provinces and cities cannot be condensed to one molecule.

This is simply due to the different markets represented across the country which are influenced by the local population and therefore the national average to some, is invalid.

It is best to focus on individual markets . This will give anyone a clearer picture of the housing market in that particular area.

If you are interested in buying a home in Orillia where the average housing prices is $200,000 or maybe in Barrie where it is double that of Orillia, what is the ”national average” to you?

Does it help in anyway? That’s the point.

The national average is greatly influenced by the markets in the most active places- Vancouver and Toronto. When recalculated with the omission of these two separate markets, the new average becomes $355,235 with a yearly growth of 8.7%. as opposed to a yearly growth of 12% and an average price of $454,342.