Once again Condo-Apartments posted the largest gain in the MLS® House Price Index, this time increasing 11.44% y/y in March. Next up were Single Family Homes with 9.87% annual growth, followed by Condo-Townhomes at +9.15%.
How is the housing market doing in your neighborhood specifically?
To view all the communities along with different property categories, and index comparisons with time frames of 1, 3 and 6 months and 1, 3, 5 & 10 years, download:
McKenzie Towne led the way for single family home sales with 50 during the month, and Coventry Hills was next up with 42.
To view actual sales statistics broken down by community, you can download this report:
How does the MLS HPI work? The MLS® HPI is for general price trends in each housing category while the Benchmark Price is just for the ‘typical’ home in that community as outlined in the Attribute Report. The HPI is calculated using a sophisticated statistical model that estimates home prices based on their quantitative and qualitative features, including:
- Number of rooms above the basement level
- Number of bathrooms and half-bathrooms
- Square footage for main living and basement areas
- Whether it has a fireplace and/or finished basement
- Lot size
- The age of the property
- How the home is heated
- Foundation, flooring, siding and roofing types
- Whether the property has a waterfront or panoramic view
- Whether the property has been sold previously
- Proximity to shopping, schools, hospitals, police stations, churches, sports centres, golf courses, parks, and transportation (including train stations, airports etc.)
Upon valuating these features or attributes, the index and the benchmark price are formulated.