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State of the Real Estate Market: June 2021

July 21, 2021

A more typical summer market occurred in June with numbers decreasing steadily month over month since the March and April highs. Nevertheless, market conditions remained tight, with limited supply continuing to put upward pressure on prices relative to one year ago.  

As in May, year-to-year sales and new listings in Ontario, Alberta and Manitoba were well above the lows recorded during the first wave of the pandemic. But, like sales, new listings generally pulled back from larger numbers seen earlier in the year, with only four of the 21 regions in this report posting increases above 1% month over month (Ontario’s Windsor15 and Grey County 23, Manitoba’s Winnipeg33, and Alberta’s Edmonton32, with new listings up between 1% and 11% in June). The majority of markets saw new listings fall anywhere from 1-19% since May, with the greatest decline occurring in two Ontario regions, Durham3 and Kitchener-Waterloo9. 

With sales and new listings easing back from the breakneck pace seen previously in the pandemic, active listings (or available supply) tended to see small variations month over month in some regions, while others experienced large decreases in supply. Only one region posted inventory gains from May in the double digits (Grey County23 at 10%), but after so many months of dwindling supply, active listings in many local markets are still at some of the lowest levels in decades.  

While the consensus in the report is that the Ontario, Manitoba and Alberta markets are currently favouring sellers, most regions saw average selling prices decline month-over-month due to the exaggerated value of months in the first half of the year because of strong buyer demand. In Ontario, Sarnia21 saw the largest month-over-month gains at 10%, while the largest decline occurred in Guelph11, where the average selling price fell 7%. In Alberta, Calgary30 saw a month-over-month decrease of 10% from May, while Edmonton32 posted a price decrease of 1%. And although the Winnipeg Regional Real Estate Board33 doesn’t report on the overall average selling price like other boards, it does point out that the price of detached homes rose by 2% month over month.  

Though it’s becoming increasingly common to hear that the market is “cooling,” it should be noted that easing back from record-breaking numbers isn’t the equivalent of becoming sluggish. Most markets are still seeing historically low inventories and above-average sales, making buying a home challenging for many.  

If you’re looking to make a purchase or planning to sell, the professional guidance and insights of an experienced REALTOR® can’t be overestimated. Speak to a local Purplebricks REALTOR® to learn about the latest trends in your area and discover how we can help you reach your real estate goals. 

Map of Ontario with purple 'pins' indicating real estate listings

Ontario

June was another hot month in Ontario real estate! Record levels of low supply didn’t stop Ontario from seeing the second-highest sales in the month of June on record. This helped keep average prices steady as buyers continued to snap up new listings.

The Ontario Real Estate Association (OREA) reports 26,191 residential transactions, coming in 16% above the five-year average.1 Compared to June 2020 – the third full month of the pandemic – sales are up 13% but fell 7% compared to May of this year, resulting in a more typical summer market unfolding.2

New listings across the province also slowed by 8% month over month at 36,327, resulting in a sales-to-new-listings ratio of 72% (up 1% compared to May). But, with boosted supply levels from April and May, months of inventory (which measures how long it would take to sell all inventory at the current rate of sales) was nudged higher, going from 0.9 in May to 1.

The trend of low supply seen in May continued into June with active listings the lowest they have been in the month of June in more than three decades. At 25,277, active listings were down 28% year over year and down 1% month over month.

With slightly more inventory and relaxed sales, Ontario prices tended to hover close to last month’s averages. The greatest price fluctuations in this report’s regions occurred in Guelph, where the average selling price fell 7% month over month, and in Sarnia, where prices grew 10% over the same period. Provincially, the average residential selling price was up 26% compared to a year ago and down 1% from May at $857,754.

In a seller’s marketlike Ontario’s, the guidance of experienced REALTORS® is an invaluable asset for both buyers and sellers. Speak to a local Purplebricks REALTOR® to learn about the latest trends in your region and discover how we can help you reach your real estate goals.

Toronto

With new listings and sold homes down month over month, Toronto saw more balanced market conditions in June. However, active listings also saw a decrease, which indicates buyers are still active in the market and scooping up new homes as they become available. 
 
The Toronto Regional Real Estate Board (TRREB) reports5,

  • Market: Moving towards a balanced 
  • Sales: 3,850 (up 36% year over year and down 7% month over month)
  • New listings: 6,386 (up 4% year over year and down 9% month over month)
  • Active listings: 5,128 (down 4% year over year and down 1% month over month) 
  • Sales-to-new-listings ratio: 60% (previous month was 58%)
  • Average days on market: 14 (down 7% year over year and up 17% month over month)
  • Average detached selling price: $1,699,881 (up 12% year over year and down 1% month over month)
  • Average semi-detached selling price: $1,267,044 (down 2% year over year and down 5% month over month)
  • Average townhouse selling price: $1,246,086 (up 14% year over year and up 2% month over month)
  • Average condo selling price: $717,466 (up 7% year over year and up 0.1% month over month)
  • All residential average selling price: $1,079,749 (up 6% year over year and down 3% month over month)

Comments from TRREB President Kevin Crigger: "We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region."  

Peel

The numbers of homes sold and average selling prices in Peel are keeping a steady pace month over month. However, with new listings and active listings declining more rapidly, the market continues to favour sellers.

The Toronto Regional Real Estate Board (TRREB) reports4 5:

  • Market: Seller's Market
  • Sales: 2,281 (up 28% year over year and down 4% month over month)
  • New listings: 3,225 (up 6% year over year and down 14% month over month)
  • Active listings: 1,914 (down 18% year over year and down 12% month over month)
  • Sales-to-new-listings ratio: 71% (previous month was 64%)
  • Average days on market: 12 (down 25% year over year and up 9% month over month
  • Average detached selling price: $1,351,550 (up 27% year over year and down 1% month over month)
  • Average semi-detached selling price: $922,618 (up 19% year over year and down 1% month over month)
  • Average townhouse selling price: $847,155 (up 16% year over year and up 0.1% month over month)
  • Average condo selling price: $571,664 (up 6% year over year and up 1% month over month)
  • All residential average selling price: $1,041,440 (up 20% year over year and down 1% month over month)

Comments from TRREB President Kevin Crigger: "We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region."

Durham

It’s still a seller’s market in Durham with 86% of new listings coming onto the market selling within the same month. This has driven active listings down significantly month over month as average prices continue to increase.

The Toronto Regional Real Estate Board (TRREB) reports3 4 5:

  • Market: Seller's Market
  • Sales: 1,425 (up 11% year over year and down 10% month over month)
  • New listings: 1,655 (down 11% year over year and down 19% month over month)
  • Active listings: 712 (down 45% year over year and down 20% month over month)
  • Sales-to-new-listings ratio: 86% (previous month was 77%)
  • Average days on market: 10 (down 33% year over year and up 25% month over month
  • Average detached selling price: $1,020,249 (up 36% year over year and up 2% month over month)
  • Average semi-detached selling price: $734,458 (up 30% year over year and up 0.3% month over month)
  • Average townhouse selling price: $776,252 (up 31% year over year and up 1% month over month)
  • Average condo selling price: $522,195 (up 19% year over year and down 2% month over month)
  • All residential average selling price: $917,267 (up 34% year over year and up 2% month over month)

Comments from TRREB President Kevin Crigger: "We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region."

York

Despite seeing a decrease in sold homes and new listings month over month, the seller’s market continues in York as active listings decline and average selling prices hold steady!

The Toronto Regional Real Estate Board (TRREB) reports3 4 5:

  • Market: Seller's Market
  • Sales: 2,015 (up 49% year over year and down 8% month over month)
  • New listings: 2,917 (up 1% year over year and down 16% month over month)
  • Active listings: 2,364 (down 23% year over year and down 11% month over month)
  • Sales-to-new-listings ratio: 69% (previous month was 63%)
  • Average days on market: 14 (down 36% year over year and up 8% month over month
  • Average detached selling price: $1,538,058 (up 20% year over year and down 3% month over month)
  • Average semi-detached selling price: $1,022,040 (up 19% year over year and up 1% month over month)
  • Average townhouse selling price: $1,034,271 (up 20% year over year and down 0.3% month over month)
  • Average condo selling price: $641,408 (up 12% year over year and down 2% month over month)
  • All residential average selling price: $1,241,833 (up 14% year over year and down 4% month over month)

Comments from TRREB President Kevin Crigger: "We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region."

Halton

With new listings and active listings decreasing month over month, the seller's market continues in Halton as prices continue to steadily climb.

The Toronto Regional Real Estate Board (TRREB) reports3 4 5:

  • Market: Seller's Market
  • Sales: 1,096 (up 11% year over year and down 8% month over month)
  • New listings: 1,450 (down 9% year over year and down 10% month over month)
  • Active listings: 812 (down 39% year over year and down 11% month over month)
  • Sales-to-new-listings ratio: 76% (previous month was 74%)
  • Average days on market: 12 (down 40% year over year and up 20% month over month)
  • Average detached selling price: $1,564,585 (up 29% year over year and up 3% month over month)
  • Average semi-detached selling price: $969,642 (up 23% year over year and down 0.04% month over month)
  • Average townhouse selling price: $940,478 (up 20% year over year and up 0.03% month over month)
  • Average condo selling price: $684,961 (down 12% year over year and up 11% month over month)
  • All residential average selling price: $1,222,263 (up 23% year over year and up 2% month over month)

Comments from TRREB President Kevin Crigger: "We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region."

Ottawa

The market is still tight in Ottawa as it sits at one month of inventory, though things are starting to normalize as the number of sold homes declines month over month.

The Ottawa Real Estate Board (OREB) reports6:

  • Sales: 2,131 (up 5% year over year and down 7% month over month)
  • Number of condominium-class properties sold: 484 (up 13% year over year and down 6% month over month)
  • Number of residential-class properties sold: 1,647 (up 2% year over year and down 7% month over month)
  • Average condo selling price: $435,198 (up 21% year over year and up 2% month over month)
  • Average residential selling price: $725,970 (up 26% year over year and down 2% month over month)

Comments from OREB President Debra Wright: "June’s resale market performed similar to a typical (pre-pandemic) June, with unit sales on par with the five-year average and a lower volume of activity compared to May, particularly in the last two weeks of the month. This is a normal tapering off as families turn their attention to end of school events and enjoying more outdoor recreation."

Hamilton-Burlington

The seller's market continues! Active listings haven't been this low in the month of June in over three decades while the sales activity resulted in the third best June on record. As a result, average selling prices remain strong.

The REALTORS® Association of Hamilton-Burlington (RAHB) reports7:

  • Market: Seller's Market
  • Sales: 1,607 (up 10% year over year and down 11% month over month)
  • New listings: 2,005 (up 1% year over year and down 14% month over month)
  • Active listings: 1,219 (down 33% year over year and down 1% month over month)
  • Sales-to-new-listings ratio: 80% (previous month was 86%)
  • Average selling price in Hamilton: $787,758 (up 28% year over year and down 1% month over month)
  • Average selling price in Burlington: $1,126,765 (up 29% year over year and up 13% month over month)
  • Average selling price in Niagara North: $904,113 (up 54% year over year and up 8% month over month)
  • Average selling price in Haldimand County: $663,564 (up 20% year over year and down 7% month over month)
  • All residential average selling price: $865,339 (up 27% year over year and up 3% month over month)

Comments from RAHB President Donna Bacher: "June’s home sales marked one of the strongest levels on record for this month […] With new listings only back around average levels this has done nothing to lift overall inventories from record lows. While market conditions remain historically tight with demand far outpacing supply, we are seeing average sale prices remain stable."

Niagara 

Despite an ebb in sold homes and new listings month over month, market conditions remain tight in the Niagara region as the highest average selling prices are recorded for the month of June.

The Niagara Association of REALTORS® (NAR) reports8:

  • Market: Seller's Market
  • Sales: 884 (up 13% year over year and down 6% month over month)
  • New listings: 1,199 (up 4% year over year and down 4% month over month)
  • Sales-to-new-listings ratio: 74% (previous month was 76%)
  • Average days on market: 18 (down 56% year over year and up 29% month over month)
  • Benchmark price for a home in St. Catharines: $617,500 (up 44% year over year and up 1% month over month)
  • Benchmark price for a home in Niagara Falls: $603,200 (up 38% year over year and up 2% month over month)
  • Benchmark price for a home in Welland: $532,600 (up 40% year over year and up 2% month over month)
  • Benchmark price for a home in Fort Erie: $540,400 (up 39% year over year and up 1% month over month)
  • Overall benchmark price for a home in the Niagara Region: $655,200 (up 40% year over year and up 1% month over month)

Comments from NAR President Doug Rempel: "Housing inventory is still low, but it is anticipated it will grow through the third quarter of the year and the good news is that if the search for your “perfect” home has been frustrated by a lack of inventory, there will be a greater selection. We anticipate that the practice of holding Offers will become less common and that there will be a shift away from a Seller’s market to a more balanced model.”

Kitchener-Waterloo

The seller’s market continues in Kitchener-Waterloo and isn't showing signs of cooling! Though price acceleration has eased, new listings and active listings are down substantially month over month resulting in tight market conditions.

The Kitchener-Waterloo Association of REALTORS® (KWAR) reports9 10:

  • Market: Seller's Market
  • Sales: 740 (up 10% year over year and down 14% month over month)
  • New listings: 860 (down 7% year over year and down 19% month over month)
  • Active listings: 365 (down 43% year over year and down 19% month over month)
  • Sales-to-new-listings ratio: 86% (previous month was 80%)
  • Average days on market: 11 (down 35% year over year and up 22% month over month)
  • Benchmark price for a detached home: $820,800 (up 33% year over year and up 1% month over month)
  • Benchmark price for a townhome: $566,900 (up 45% year over year and down 1% month over month)
  • Benchmark price for a condominium: $373,400 (up 17% year over year and down 0.1% month over month)
  • Overall benchmark price for a home: $745,800 (up 32% year over year and down 0.4% month over month)

Comments from KWAR President Nicole Pohl: "The number of homes sold in the Kitchener-Waterloo area these past 6 months surpasses any previous 6 months of activity through our MLS® System […] The greatest challenge of the housing market continues to be the limited supply of existing homes to purchase."

Guelph

With the most sales in the month of June in the past 5 years, as well as active listings being at 30-year record lows, the Guelph market undoubtably favoured sellers in June. 

The Guelph and District Association of REALTORS (GDAR) reports11 12:

  • Market: Seller's Market
  • Sales: 563 (up 13% year over year and down 5% month over month)
  • New listings: 719 (up 12% year over year and down 3% month over month)
  • Active listings: 364 (down 33% year over year and down 5% month over month)
  • Sales-to-new-listings ratio: 78% (previous month was 80%)
  • Benchmark price for a detached home: $825,000 (up 34% year over year and up 1% month over month)
  • Benchmark price for a townhome: $569,200 (up 31% year over year and down 1% month over month)
  • Benchmark price for a condominium: $461,400 (up 21% year over year and down 0.4% month over month)
  • Overall benchmark price for a home: $786,100 (up 32% year over year and up 0.2% month over month)

Comments from GDAR President Sabrina Essery: "New listings have been trending at fairly strong levels but nowhere near the pace required to keep up with demand. As a result, overall inventories are still falling to new lows and the market continues to face unprecedented tightness."

London

The London and St. Thomas real estate market holds steady in a seller's market as average selling prices and new listings see little month-over-month changes.

The London and St. Thomas Association of REALTORS® (LSTAR) reports13:

  • Market: Seller's Market
  • Sales: 1,194 (up 8% year over year and down 5% month over month)
  • New listings: 1,561 (up 10% year over year and down 0.1% month over month)
  • Active listings: 884 (down 37% year over year and up 11% month over month)
  • Sales-to-new-listings ratio: 77% (previous month was 81%)
  • Median days on market: 8 (down 20% year over year and on par month over month)
  • Average detached selling price: $689,295 (up 34% year over year and down 0.2% month over month)
  • Average townhouse selling price: $525,376 (up 42% year over year and up 7% month over month)
  • Average condo selling price: $386,274 (up 39% year over year and down 1% month over month)
  • All residential average selling price: $641,072 (up 35% year over year and up 1% month over month)

Comments from LSTAR President Jack Lane14: "The average sales price was on par with what has been recorded over the past four months. We haven't experienced the monthly spikes observed during the second half of 2020. This signals the marketplace is beginning to stabilize, in line with the moderating trend seen throughout the country."

Windsor

Both new and active listings increased month over month in June, providing a welcome boost of inventory to the region, while strong sales kept the average selling price nearly on par with May.

The Windsor-Essex County Association of REALTORS® (WECAR) reports15 16:

  • Market: Seller’s Market
  • Sales: 727 (up 7% year over year and up 6% month over month)
  • New listings: 1,143 (up 28% year over year and up 11% month over month)
  • Active listings: 644 (down 33% year over year and up 7% month over month)
  • Sales-to-new-listings ratio: 64% (previous month was 67%)
  • All residential average selling price: $555,544 (up 38% year over year and down 1% month over month)

Brantford

The seller’s market continues as the Branford region reports  record sales for the month of June and the lowest number of active listings in over 30 years for the same time period.

The Brantford Regional Real Estate Association (BRREA) reports17 18:

  • Market: Seller's Market
  • Sales: 309 (up 12% year over year and down 7% month over month)
  • New listings: 372 (up 0.3% year over year and down 4% month over month)
  • Active listings: 203 (down 40% year over year and down 5% month over month)
  • Sales-to-new-listings ratio: 83% (previous month was 86%)
  • Benchmark price for a detached home: $656,100 (up 41% year over year and up 3% month over month)
  • Benchmark price for a townhome: $452,900 (up 39% year over year and up 1% month over month)
  • Benchmark price for a condominium: $325,600 (up 24% year over year and up 5% month over month)
  • Overall benchmark price for a home: $632,800 (up 40% year over year and up 3% month over month)

Comments from BREA President Ray Petro: "Sales have continued unabated at their breakneck pace since earlier this year, with activity reaching not only the highest June level but also the first June to ever surpass 300 sales."

Barrie & Simcoe County

The breakneck pace seen earlier in 2021 is slowing down, however Barrie region is still in a seller’s market with active listings and new listings the lowest the region has seen in 25 years and 5 years, respectively, for the month of June.

The Barrie & District Association of REALTORS® reports19 20:

  • Market: Seller's Market
  • Sales: 587 (down 8% year over year and down 13% month over month)
  • New listings: 845 (down 4% year over year and down 7% month over month)
  • Active listings: 523 (down 42% year over year and up 3% month over month)
  • Sales-to-new-listings ratio: 69% (previous month was 74%)
  • Benchmark price for a detached home: $759,800 (up 38% year over year and up 1% month over month)
  • Benchmark price for a townhome: $531,800 (up 49% year over year and down 0.3% month over month)
  • Benchmark price for a condominium: $469,900 (up 39% year over year and up 3% month over month)
  • Overall benchmark price for a home: $728,200 (up 39% year over year and up 1% month over month)

Comments from BDAR President Chantal Godard: "Overall supply is still trending downward. There’s been a small improvement in the market balance since the beginning of the year but it’s going to take a lot more than a brief cooldown in sales to bring the market back into balanced territory."

Sarnia-Lambton

With average selling prices climbing and active listings the lowest it's been in the month of June in 30 years, it’s a good time to be a seller in the Sarnia region!

The Sarnia-Lambton Real Estate Board (SLREB) reports21 22:

  • Market: Seller's Market
  • Sales: 185 (down 6% year over year and down 17% month over month)
  • New listings: 216 (down 20% year over year and down 13% month over month)
  • Active listings: 145 (down 44% year over year and up 7% month over month)
  • Sales-to-new-listings ratio: 86% (previous month was 89%)
  • All residential average selling price: $526,615 (up 31% year over year and up 10% month over month)

Comments from SLREB President Rob Longo: "New listings dropped sharply in June and active listings are still hovering only slightly above the lowest levels on record, which is contributing to the continued upward pressure on prices. Although our region is no longer facing the tightest market conditions in history, market balance is still firmly in favour of sellers."

Grey County

An increase in new listings and active listings didn’t make a large dent in the seller’s market in Grey County as homes continue to sell faster than any June in the past 10 years.

The REALTORS® Association of Grey Bruce Owen Sound (RAGBOS) reports23:

  • Market: Seller’s Market
  • Sales: 400 (up 1% year over year and up 9% month over month)
  • New listings: 528 (up 11% year over year and up 2% month over month)
  • Active listings: 562 (down 32% year over year and up 10% month over month)
  • Sales-to-new-listings ratio: 76% (previous month was 71%)
  • Median days on market: 11 (down 58% year over year and down 8% month over month)
  • Average detached selling price: $663,263 (up 37% year over year and down 4% month over month)
  • Average townhouse selling price: $499,273 (up 20% year over year and up 1% month over month)
  • Average condo selling price: $543,000 (up 102% year over year and up 22% month over month)
  • All residential average selling price: $648,673 (up 40% year over year and down 3% month over month)

Peterborough and the Kawarthas

Record-low supply fostered the right environment for the Peterborough market to set a new sales high for the month of June. The seller's market continues!

The Peterborough and the Kawarthas Association of REALTORS® Inc. (PKAR) reports24 25:

  • Market: Seller's Market
  • Sales: 324 (up 10% year over year and down 11% month over month)
  • New listings: 413 (up 9% year over year and down 3% month over month)
  • Active listings: 271 (down 37% year over year and up 3% month over month)
  • Sales-to-new-listings ratio: 78% (previous month was 86%)
  • All residential average selling price: $723,008 (up 33% year over year and up 1% month over month)

Comments from PKAR President Jon Maxwell: "Although active listings have not been this low in the month of June in more than three decades, overall inventory has more than doubled from historical lows posted earlier this year. However, we are mindful that there is still a market imbalance in our region that is currently skewed in favour of sellers."

Huron and Perth Counties

The seller's market continues in Huron and Perth counties! With strong buyer demand keeping inventory levels at historical lows, prices continued to climb.

The Huron Perth Association of REALTORS® (HPAR) reports26 27:

  • Market: Seller's Market
  • Sales: 234 (down 8% year over year and down 5% month over month)
  • New listings: 274 (down 4% year over year and down 8% month over month)
  • Active listings: 198 (down 44% year over year and up 5% month over month)
  • Sales-to-new-listings ratio: 85% (previous month was 83%)
  • Benchmark price for a detached home: $540,000 (up 44% year over year and up 3% month over month)
  • Benchmark price for a condominium: $490,000 (up 14% year over year and down 1% month over month)
  • Overall benchmark price for a home: $538,200 (up 44% year over year and up 3% month over month)

Comments from HPAR President Kathy Dawson: "With new listings barely trending above where they were pre-COVID, overall inventories are down to rock bottom levels and unlikely to move anytime soon [...] with so much demand and so little supply to choose from it’s no wonder that year-over-year benchmark price gains are moving north of 40%."

Map of Alberta with callouts showing detail for Edmonton and Calgary, with purple 'pins' indicating Purplebricks real estate listings

Alberta

Alberta’s real estate market continued to favour sellers in June, though some typical seasonal cooling off is taking place. Average selling prices, number of homes sold and the volume of new listings coming onto the market saw double digit increases, while month over month there were decreases upwards of 5%.

Though sales across the province ebbed by 2% compared to May,28 June’s 9,192 transactions set a new record for the month.29 According to the Alberta Real Estate Association (AREA), “low lending rates and pent-up demand stemming from years of low activity are driving resale demand growth across most regions of the province.”

Favourable conditions also drew Albertan home owners to the market in higher numbers than is usual for June. Though new listings lagged May’s tally by 5% at 13,260, months of inventory increased from 2.87 to 2.99 months. Despite this, this is the lowest amount of inventory Alberta has seen since June 2006.

Average selling prices held steady in June. Across the province, the average selling price for all home types grew 13% year over year and decreased 2% month over month to $432,138.

Calgary

Record high sales for the month of June kept the Calgary market hotNew listings came in at almost record-breaking numbers for the month, though buyers were eager to scoop up new listings, keeping the months of inventory at just 2.4 months (down 35% compared to last year). As supply trends upward, the pace of the market is slowing down causing average selling prices to decrease month over month. This reflects a more typical summer market and likely an indication that Calgary is moving towards more balanced conditions.  
 
The Calgary Real Estate Board (CREB) reports30 31:

  • Market: Seller's Market 
  • Sales:2,915 (up 65% year over year and down 2% month over month) 
  • New listings:4,135 (up 24% year over year and down 9% month over month) 
  • Active listings:6,918 (up 7% year over year and up 2% month over month) 
  • Sales-to-new-listings ratio:70% (previous month was 66%) 
  • Average detached selling price:$537,200 (up 13% year over year and down 10% month over month) 
  • Average semi-detached selling price:$427,000 (up 11% year over year and down 15% month over month) 
  • Average townhouse selling price:$299,300 (up 9% year over year and down 8% month over month) 
  • Average condo selling price:$253,000 (up 5% year over year and down 13% month over month) 
  • Average residential selling price: $458,300 (up 11% year over year and down 10% month over month)

Comments from CREB® Chief Economist Ann-Marie Lurie"Through the early spring market, many buyers did not have a lot of choice, but the recent improvements in supply are providing more options for those purchasers and supporting the strong sales we continue to see in June. At the same time, gains in inventory are taking some pressure off the market as it starts to trend towards more balanced conditions.”

Edmonton   

Average selling prices and sales remained steady in June, while new listings got a small boost resulting in active listings increasing month-over-month. Though sales of all property types decreased compared to May, all experienced double-digit year-over-year growth and are selling in about one month’s time versus two months last year, showing that the seller’s market in Edmonton is still there, but likely cooling down for the summer months. 

The REALTORS® Association of Edmonton (RAE) reports32:

  • Market: Seller's Market 
  • Sales:2,729 (up 33% year over year and down 0.3% month over month) 
  • New listings:4,219 (up 20% year over year and up 1% month over month) 
  • Active listings:8,023 (down 1% year over year and up 6% month over month) 
  • Sales-to-new-listings ratio:65% (previous month was 64%) 
  • Average days on market: 36 (down 39% year over year and up 9% month over month)
  • Average detached selling price:$472,637 (up 12% year over year and up 2% month over month) 
  • Average duplex selling price:$356,085 (up 8% year over year and down 1% month over month) 
  • Average condo selling price:$241,808 (up 10% year over year and down 0.03% month over month) 
  • Average residential selling price: $398,229 (up 11% year over year and down 1% month over month)

Comments from RAE Chair Tom Shearer"The Edmonton market in June saw an increase in year-over-year residential unit sales. There have also been more sales of single-family homes, condos and duplexes compared to June of last year, while month-over-month activity has started to cool off in some markets compared to May.”

Map of Manitoba with purple 'pins' indicating real estate listings

Manitoba

Winnipeg

June was another hot month for Winnipeg real estate! The increase in new listings and active listings month over month did little to curb the seller’s market in Winnipeg as average selling prices continued to steadily climb, especially in the low-rise sector with detached homes and townhouses seeing double-digit year-over-year increases in average price. Another key indicator of the strength of house prices is the total-sales-price-to-total-list-price ratio, which saw a rise from 98.6% in 2020 to 104.7% this June.

In a seller’s market like Manitoba’s, the guidance of experienced REALTORS® is an invaluable asset for both buyers and sellers. Speak to a local Purplebricks REALTOR® to learn about the latest trends in your region and discover how we can help you reach your real estate goals.  

The Winnipeg Regional Real Estate Board (WRREB)

  • Market: Seller's Market   
  • Sales:1,943 (up 2% year over year and down 6% month over month) 
  • New listings:2,373 (down 12% year over year and up 2% month over month) 
  • Active listings:2,791 (down 40% year over year and up 7% month over month) 
  • Sales-to-new-listings ratio:82% (previous month was 88%) 
  • Average detached selling price:$395,576 (up 16% year over year and up 2% month over month) 
  • Average townhouse selling price:$301,324 (up 18% year over year and up 1% month over month) 
  • Average condo selling price:$251,659 ( year over year and down 1% month over month) 

Comments from WRREB President Kourosh Doustshenas: "A true hallmark of this year has been the unprecedented buyer demand for all property type listings with major percentage gains in sales from 2020 […] 2021 dollar volume gains remain in the double-digits and represent strong upward price movement compared to 2020."  

If you need to sell or buy a home, a local Purplebricks REALTOR® can help you navigate the market safely and with professional insight. Purplebricks supports Canadians by providing exceptional real estate experiences with incredible rewards: sellers save thousands in commission and buyers receive $2,000 cash back* when they purchase a home with a Purplebricks REALTOR®. Call 1-855-999-9740 to learn more.

Randall Weese, Broker of Record for Ontario, Broker for Alberta and Associate Broker for Manitoba for Purplebricks Canada

Randall Weese is the Director of Compliance and Brokerage Services at Purplebricks, where he is also the licensed Broker of Record for Ontario, Broker for Alberta, and Associate Broker for Manitoba. A REALTOR® with 14 years’ experience in Ontario, Randall has worked in a variety of business models within the real estate industry. He has been a REALTOR® at one of the largest brokerages in Canada, managed a boutique brokerage, and founded and operated his own brokerage in the Greater Toronto Area. Throughout his career, he has acted as a listing agent on thousands of homes across the country.

Sources:
1
CREA: OREA June 2021 Market Report, retrieved July 14, 2021
2 Ontario May 2021 State of the Market Report
3 TRREB June 2021 Market Report
4 TRREB June 2020 Market Report
TRREB May 2021 Market Report
6 OREB June 2021 Market Report
7 RAHB June 2021 Market Report
8 NAR June 2021 Market Report
9 KWAR June 2021 Market Report
10 KWAR May 2021 Market Report
11 GDAR June 2021 Market Report
12 GDAR May 2021 State of the Market Report
13 LSTAR June 2021 Market Report
14 LSTAR June 2021 Market News
15 WECAR June 2021 Market Report
16 WECAR June 2020 Market Report
17 BREA June 2021 Market Report
18 Brantford May State of the Market Report
19 BDAR June 2021 Market Report
20 Barrie & Simcoe County May State of the Market Report
21 SLREB June 2021 Market Report
22 Sarnia May State of the Market Report
23 RAGBOS June 2021 Market Report
24 PKAR June 2021 Market Report
25 Peterborough May State of the Market Report
26 HPAR June 2021 Market Report
27 Huron-Perth May State of the Market Report
28 Alberta Real Estate Market Update, May 2021
29 Alberta Real Estate Association Monthly Statistics, June 2021, retrieved July 15, 2021
30 CREB June 2021 Market Report
31 CREB® May 2021 Market Report
32 RAE June 2021 Market Report
33 WRREB June 2021 Market Report
34 WRREB May 2021 Market Report

†The Canadian Real Estate Association calculates benchmark prices using the MLS® Home Price Index (HPI), which uses data from a region to define a “typical” home. Benchmark prices can reflect the changes to a region’s property value far more accurately than average or median prices. Statistics presented herein are rounded to the nearest whole number for readability. Exact statistics can be found using the references provided.