MLS® HPI data is revealing and available to anyone on the web.
Greater Moncton housing prices are the lowest in the survey group’s single family property type, hovering around the 200 thousand mark. Greater Montreal and Ottawa are both between the 300 and 400 thousand mark. The Greater Toronto Home price Index benchmark is well above the 600 thousand line. And steadily rising. Anyone can use the HPI Tool online at homepriceindex.ca so why not try it?
Population wise the Greater Moncton area is the smallest of the real estate markets participating in the MLS® Home Price Index. By using the Home Price Index it should become clear that the Moncton area housing prices are the biggest value for dollars in all of the participating real estate markets.
The 11 real estate boards participating in the MLS® HPI represent 51.9% of all Canadian resale housing activity, based on the 10-year average of annual sales from 2004-2013. The MLS® HPI is not designed to predict the value of an individual property. However, since it is based on MLS® listing content — a comprehensive and accurate source of real estate data in Canada — the MLS® HPI provides a more precise picture of home price trends in a given region, municipality or neighbourhood. And if someone is moving from one region to another, the MLS® HPI helps compare home prices “apples-to-apples” across the entire country . The MLS® HPI is relatively new in that it is the first Home Price Index to use MLS® data to track trends in home prices in markets across Canada. The CREA Housing Market Stats website contains detailed information on the background, calculations, and specifications of the MLS® Home Price Index. You will also find Property Type Definitions, a reference to the property types included in the MLS® Home Price Index.