{"id":22180,"date":"2023-05-15T11:42:43","date_gmt":"2023-05-15T15:42:43","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=22180"},"modified":"2023-05-15T11:42:45","modified_gmt":"2023-05-15T15:42:45","slug":"crea-april-2023-2","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/","title":{"rendered":"Sales Far Outpacing Supply Creating an Ever-Tightening Market: CREA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The spring market was in full force last month as buyer activity intensified after the Easter weekend. National homes sales increased by an impressive 11.3% from March 2023, the largest month-over-month gain so far this year.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Majority of Markets See Significant Sales and Price Increases<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Canadian Real Estate Association (CREA), sales gains could be found all across the country, with <a href=\"https:\/\/www.zoocasa.com\/vancouver-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Vancouver<\/a> and the <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Toronto Area<\/a> once again pushing forward most of those gains. Notably, <a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Halifax-Dartmouth<\/a> and <a href=\"https:\/\/www.zoocasa.com\/ottawa-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Ottawa<\/a> had impressive growth with sales increasing month-over-month by 31.8% in Halifax-Dartmouth and by 24.5% in Ottawa. <a href=\"https:\/\/www.zoocasa.com\/hamilton-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Hamilton-Burlington<\/a>, <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a> and <a href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Edmonton<\/a> all also experienced month-over-month sales growth of more than 10%.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/zoocasa-readers-chose-where-to-buy-real-estate-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Zoocasa Readers Reveal the Top 10 Best Places to Buy Real Estate in Canada in 2023<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Prices held strong across the country with nearly every major market increasing month-over-month. The national average home price in April 2023 was $716,000, a $103,500 increase from the beginning of this year. Hamilton-Burlington led the way in price growth, experiencing a month-over-month increase of 3.9% at $868,800. <a href=\"https:\/\/www.zoocasa.com\/saint-john-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saint John<\/a> and <a href=\"https:\/\/www.zoocasa.com\/kitchener-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Kitchener-Waterloo<\/a> also experienced notable growth, up by 3% and 2.7% respectively.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"738\" height=\"1024\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-738x1024.png\" alt=\"\" class=\"wp-image-22183\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-738x1024.png 738w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-216x300.png 216w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-768x1065.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-1108x1536.png 1108w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18-1477x2048.png 1477w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-Image-18.png 600w\" sizes=\"auto, (max-width: 738px) 100vw, 738px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">New Listings Up in Smaller Markets<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Though inventory is low on a national level, months of inventory dropped down to just 3.3 months from March, some smaller markets actually saw an increase in new listings in April. New listings were up in <a href=\"https:\/\/www.zoocasa.com\/winnipeg-mb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Winnipeg<\/a>, <a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a> and Ottawa by 0.9%, 2.1% and 2.8% respectively. Edmonton\u2019s new listings increased by 3.1%, while <a href=\"https:\/\/www.zoocasa.com\/saskatoon-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saskatoon\u2019s<\/a> new listings jumped up by a whopping 18.5%.\u00a0<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/land-transfer-tax-ontario-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Ontario Cities Ranked by Land Transfer Tax: The Good, The Bad, and The Ugly<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Despite these increases, the sales-to-new-listings ratio for the country is at its tightest in over a year at 70.2%, meaning the market is increasingly favouring sellers. \u201cWith interest rates at a top, and home prices at a bottom, it wasn\u2019t all that surprising to see buyers jumping off the sidelines and back into the market in April. Supply, on the other hand, has been sluggish, hence the price gains from March to April seen all over the country. Looking ahead, the first week of May did see a bit of a burst of new supply, suggesting some of those April buyers were existing owners now looking to sell their current homes,\u201d&nbsp; said Shaun Cathcart, CREA\u2019s Senior Economist.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re preparing to enter the spring market, whether that\u2019s through buying, selling, or both, it\u2019s important to speak with a local realtor to learn about market conditions in your specific area. If you\u2019re ready, <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\">give us a call today<\/a> to speak with a qualified agent!<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Ready to find your dream home?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The spring market was in full force last month as buyer activity intensified after the Easter weekend. National homes sales increased by an impressive 11.3% from March 2023, the largest month-over-month gain so far this year.&nbsp; Enjoying our content? Subscribe to our free weekly newsletter to get Canadian real estate market insights, news, and reports [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":22182,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[1111,1160],"tags":[],"class_list":["post-22180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sales Far Outpacing Supply Creating an Ever-Tightening Market: CREA | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"The Canadian real estate market continued to tighten in April 2023, bringing sales up and inventory down. 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Learn more about market conditions in Zoocasa&#039;s monthly report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-15T15:42:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-15T15:42:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-x-Social-Images-19.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mackenzie Scibetta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/05\/Blog-x-Social-Images-19.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mackenzie Scibetta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/\"},\"author\":{\"name\":\"Mackenzie Scibetta\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\"},\"headline\":\"Sales Far Outpacing Supply Creating an Ever-Tightening Market: CREA\",\"datePublished\":\"2023-05-15T15:42:43+00:00\",\"dateModified\":\"2023-05-15T15:42:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/\"},\"wordCount\":479,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Canada\",\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/crea-april-2023-2\/\",\"name\":\"Sales Far Outpacing Supply Creating an Ever-Tightening Market: CREA | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-05-15T15:42:43+00:00\",\"dateModified\":\"2023-05-15T15:42:45+00:00\",\"description\":\"The Canadian real estate market continued to tighten in April 2023, bringing sales up and inventory down. 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