High demand and low supply characterized the Canadian housing market in 2015, according to the new annual Housing Market Outlook released by RE/MAX in Canada. If you’re looking to buy or sell there, here are some highlights to keep in mind:
- Good news for sellers: The average residential sale price increased significantly in the markets of Victoria (up 13%), Greater Vancouver (up 17%) and Fraser Valley (up 10%).
- Looking to buy? High supply in Saskatoon and Regina made these cities a buyer’s market. Each saw a decrease in the average residential sale price.
- Both buyers and sellers stand to benefit in balanced markets such as Winnipeg, Kitchener-Waterloo and Montreal.
- New Canadians and foreign investors were active buyers.
To read the full report, click here.
Of course, market conditions are constantly in flux. It helps to have someone on your side who knows the very latest in your area. Find a local RE/MAX agent – in Canada, the U.S. or just about anywhere else – who can help you understand all the data.