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Listings Surge Cools Prices in Canadian Housing as August Data Show Regional Split

Rising inventories are shifting negotiating power toward buyers across major markets.

Overview

  • Calgary sales fell about 9% year over year to 1,989 transactions as active listings jumped 48.2% to 6,661 and the benchmark price slipped to $577,200, roughly 4% lower than a year ago.
  • Price pressure in Calgary is concentrated in high‑density product, with row homes down about 5% and condos down 6% year over year, while detached and semi‑detached segments show only modest changes.
  • In the ter ToroToronto Area, seasonally adjusted sales declined 1.8% from July to 5,633, new listings rose 9.4% to 14,038, active listings climbed to 27,495, and the average price fell 5.2% year over year to about $1.02 million.
  • TRREB data highlight sharper segmental drops, including a 10.6% year‑over‑year decline for suburban condo prices and a roughly 10% slide for average detached prices in the City of Toronto.
  • Greater Vancouver recorded 1,959 sales, up 2.9% year over year, with active listings up 17.6% to 16,242 and a composite benchmark of $1,150,400 that was 3.8% below last year, while the London–St. Thomas region logged 616 sales for its strongest August since 2021 and a 3.3% price gain to $651,329 as boards point to rate‑cut expectations and tariff uncertainty shaping demand.