|Home PricesThe Aggregate Composite MLS® Home Price Index (MLS® HPI) rose by 1% m-o-m in October 2020. Of the 39 markets now tracked by the index, all but one were up between September and October (see table 1 below).
The non-seasonally adjusted Aggregate Composite MLS® HPI was up 10.9% on a y-o-y basis in October – the biggest gain since July 2017.
The largest y-o-y gains – more than 25% – were recorded in Ontario’s Quinte & District and Woodstock-Ingersoll.
Y-o-y price increases in the 20-25% range were seen in Ottawa, London & St. Thomas, Tillsonburg District and some Ontario cottage country areas.
Y-o-y price gains followed this in the range of 15-20% in Barrie, Hamilton, Niagara, Guelph, Bancroft and Area, Brantford, Cambridge, Huron Perth, Kitchener-Waterloo, North Bay, Peterborough and the Kawarthas, Simcoe & District, Montreal and Greater Moncton.
Prices were up in the 10-15% range compared to last October in the GTA, Oakville-Milton, Mississauga and Northumberland Hills.
Meanwhile, y-o-y price gains were in the 5-10% range in Greater Vancouver, the Fraser Valley, the Okanagan Valley, Regina, Saskatoon, Winnipeg and Quebec City. Gains were less than 4% in Victoria and elsewhere on Vancouver Island, as well as in St. John’s, and prices were just inside positive territory y-o-y in Calgary and Edmonton.
The actual (not seasonally adjusted) national average home price set another record in October 2020, coming in at $607,250. This was up 15.2% from the same month last year.