- BARRIE: (Ontario)
Barrie was a high-demand market in 2016 especially by first-time buyers and more specifically by young couples commuting here for work. There was a 16% uprise in average residential sale price, moving it upto $409,365.
Estimated future trend for 2017 showed low inventory level with high demand as buyers look for relatively cheaper residential properties.
- CALGARY: (Alberta)
Calgary has faced an average decrease in residential sale price by 4% during 2015 and then further 4% reduction in 2016, bringing it to $402,335. 2016 trend shows first-time buyer driven market. The condo market has seen a decrease of 7% whereas the luxury homes have come back into the range of many move-up buyers due to decline in the average sale price of properties.
Estimated future trend for 2017 show that Calgary’s market is going to receive a boost, the reason being expected change in economy due to the approval of Trans Mountain pipeline.
was $231.010. First-time buyers were most
- EDMONTON: (Alberta)
Employment situation in the city and layoffs in the oil sector effected its market. The average residential sale price in 2016 decreased by 2%, dropping it to $364,000. Changes to mortgage lending rules by federal government slowed the first-time buyers’ activity. there was a good supply with good selection choices of condos and luxury homes in the market.Estimated future trend for 2017 show that development initiatives in the ICE district (downtown Edmonton) will bring in more employment opportunities. Due to decline in average sales price for properties, move-up buyers activity can hike up the market in 2017.
- FRASER VALLEY (British Columbia)
The Fraser Valley turned out to be a strong market in 2016 as well. Rise in demand in the properties contributed in the rise of average residential sale price by 20%, bringing it to $690,000. Condos were in the highest demand, as their sales saw a 22% increase, whereas sales for single-family detached homes grew by 8%.perticulery Market for luxury homes saw a decline due to revised mortgage lending rules by the federal government.
Estimated future trend for 2017 shows that the activity in lower end market would remain strong. Region’s natural beauty, access to Vancouver and continued population growth would continue to attract both local and foreign buyers.
