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120 PUEBLO CRESCENT, Whitehorse, YT
$311,000
120 PUEBLO CRESCENT, Whitehorse
3 bed / 2 bath / 1680 sq. ft
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Listing courtesy of Dave Pearson~RE/MAX ACTION REALTY

Km 1396 ALASKA HIGHWAY HW, Whitehorse, YT
RE/MAX Collection
$750,000
Km 1396 ALASKA HIGHWAY HW, Whitehorse
8 bed / 7 bath / 4800 sq. ft
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Listing courtesy of ~RE/MAX ACTION REALTY

23 SKOOKUM DRIVE, Whitehorse, YT
$329,000
23 SKOOKUM DRIVE, Whitehorse
3 bed / 3 bath / 1946 sq. ft
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Listing courtesy of Dana Klock~RE/MAX ACTION REALTY

67 RIVER RIDGE LANE #9, Whitehorse, YT
$199,900
67 RIVER RIDGE LANE #9, Whitehorse
2 bed / 2 bath / 935 sq. ft
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Listing courtesy of Dave Pearson~RE/MAX ACTION REALTY

14 FINCH CRESCENT, Whitehorse, YT
$399,000
14 FINCH CRESCENT, Whitehorse
3 bed / 2 bath / 2100 sq. ft
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Listing courtesy of Chris Meger~RE/MAX ACTION REALTY

96 TAMARACK DRIVE, Whitehorse, YT
$344,900
96 TAMARACK DRIVE, Whitehorse
4 bed / 2 bath / 1725 sq. ft
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Listing courtesy of Chris Meger~RE/MAX ACTION REALTY

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2015 Housing Market...

promoted content Most regions posted modest gains in average residential sale price, despite increased inventory in many of Canada's housing markets.

RE/MAX Spring Market...

promoted content RE/MAX Spring Market Trends Report 2014 finds increased activity in local housing markets

RE/MAX Upper End Market...

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Kelowna, BC (January 28, 2014) -- Significant gains at the top end of the country’s housing market continued to demonstrate the overall strength of Canadian real estate in 2013, according to a report released today by RE/MAX.    The RE/MAX Upper End Report, highlighting trends and developments in 16 major Canadian centres, revealed that: Seventy-five per cent of markets experienced year-over-year percentage increases in sales—including eight markets that posted double-digit gains.  Greater Vancouver led the charge with a 36 per cent increase in luxury sales last year, followed by Calgary at 34 per cent, Edmonton at 32 per cent, Hamilton-Burlington at 31 per cent, Kitchener-Waterloo at 27 per cent, Winnipeg at 26 per cent, Greater Toronto at 18 per cent, and Saskatoon at 15 per cent. Over two-thirds of markets set new records for high-end sales in 2013.  Markets included St. John’s, Quebec City, Greater Toronto, Hamilton-Burlington, Kitchener-Waterloo, London-St. Thomas, Winnipeg, Regina, Saskatoon, Edmonton, and Calgary. Luxury sales have close to quadrupled since 2009 in Regina (up 288 per cent), tripled in St. John’s (219 per cent), and more than doubled in Winnipeg (189 per cent), Hamilton-Burlington (173 per cent), Saskatoon (157 per cent), the Greater Toronto Area (147 per cent), Greater Vancouver (125 per cent), and Calgary (115 per cent).  London-St. Thomas was up 90 per cent, Ottawa increased 86 per cent, Edmonton rose 81 per cent, while Quebec City jumped 76 per cent and Montreal climbed 61 per cent in the five-year period. “Canada’s luxury market is rising to an entirely unprecedented level,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.  “As appetites for upper-end properties have increased, so too have expectations. The new ‘it’ factor is opulence.  Having the best finishings is a given.  Buyers now want to have their heart’s desires under one roof—the more over-the-top, the better.  Properties are setting a new standard.  Condos are no exception, with some now equaling their single-family counterparts in lavish amenities and values.  Luxury homes are becoming decidedly more ultra and uber, right down to the sticker price.”  Last year’s relatively low interest rate environment, substantial equity gains in Canadian real estate markets, stellar performance in US equities, and improving economic conditions contributed to the upswing in luxury home sales, driving close to 70 per cent of Canadian markets to new heights in 2013. Diminished supply of single-family homes—particularly in markets like the Greater Toronto Area and Greater Vancouver—contributed to steady homebuying activity, as pent-up demand persisted.  Yet, most purchasers remained grounded, especially at higher price points, and the climate proved fundamentally healthy.  Greater Vancouver experienced the largest bounce back in 2013, with sales of luxury homes posting the second highest level on record.  Western Canada claimed the country’s top three high-end markets in 2013.  Ontario continued to demonstrate strength in the upper end, especially in Hamilton-Burlington and Kitchener-Waterloo.  Canada’s largest real estate market—the GTA—also reported healthy activity in 2013.  Quebec held its own, with luxury sales outperforming overall residential market activity in both Greater Montreal and Quebec City.  Atlantic Canada experienced solid demand in St. John’s, where upper end sales were up, but posted a decline in Halifax-Dartmouth. The surge in high-end homebuying activity dovetails with growing strength in global markets, including London (where sales of homes priced in excess of $8 million are up 24 per cent), and the US, where sales at high end of the market—homes priced at $1 million or more—are selling at nearly triple the pace of everything else.  “On a world stage, Canada remains very attractive, particularly from the perspective of price,” says Ash.  “We offer a top tier quality of life at a fraction of the price of other destination cities.  Take New York City for example, where a $90 million condominium penthouse was one of the highest-priced listings ever sold.  That makes Canada’s highest sales in 2013 appear like relative bargains in comparison.  Canada’s priciest transactions included a $25 million condominium and an $18.6 million home, offering mountain and water views in Greater Vancouver.  Toronto posted a $13.4 million sale, while Calgary set a best-ever benchmark at $11.1 million.  Given the spread, there’s certainly room growth in both sales and prices.”   Local purchasers continue to be the primary drivers in the upper end of the market, as Canadian affluence climbs.   The ranks of Canadian millionaires are growing—up approximately 6.5 per cent to 298,000 individuals in 2012 (over 2011)—and with it, the undeniable appeal of bricks and mortar.  The CapGemini report also found that Canadian wealth expanded to $897 billion in 2012—with investment in equities and real estate contributing to the upswing in growth.  Some foreign investment was also noted in 2013, most prevalent in markets such as Greater Vancouver and the Greater Toronto Area.  “Buying intentions and confidence are expected to remain solid moving forward, as economic performance improves,” explains Ash.  “In the interim, the consistent upward momentum we’ve seen at the top end speaks volumes about the overall health of Canada’s real estate market.  The picture remains fundamentally healthy and sound.”    To read the full report, click here.

RE/MAX Housing Market...

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Canadian homebuyers remain undaunted in 2013, as housing sales and average price approach five-year high Major residential real estate markets poised for further growth in 2014 Kelowna, BC (December 11, 2013) -- Canadian consumers remained remarkably steadfast in their determination to achieve homeownership in 2013, fuelling residential real estate sales and average price nationally to a five-year high, despite a spotty regional performance. Improved economic performance on both a national and global stage, combined with historically low interest rates and rising consumer confidence, should spark greater strength in 2014, with housing sales and values expected to further appreciate, according to a report released today by RE/MAX. The RE/MAX Canadian Housing Market Outlook 2014 examined trends and developments in 25 major markets across the country. The report found that the number of homes sold is expected to match or exceed 2012 levels in almost two-thirds of markets (15/25) in 2013, led by strong activity in British Columbia, including Vancouver (up 10 per cent) and Kelowna (10 per cent). Ninety-two per cent (23/25) of markets are set to experience average price increases by year-end 2013, with Hamilton-Burlington the country’s frontrunner at 7.5 per cent, followed by Barrie and District at seven per cent, Calgary and St. John’s at six per cent, and Greater Vancouver, Winnipeg and the Greater Toronto Area at five per cent. The forecast for 2014 shows the upward trend gaining momentum, with values expected to climb yet again in 92 per cent (23/25) of centres, led by Greater Toronto at six per cent. Strength and stability are forecast to characterize Canadian real estate in 2014, with sales estimates on par or above year-ago levels in all markets examined, led by Kelowna (10 per cent) and Calgary (nine per cent). Nationally, an estimated 466,000 homes will change hands in 2013, an increase of three per cent over the 453,372 sales recorded in 2012. Canadian home sales are expected to climb two per cent to 475,000 units by year-end 2014. The average price of a Canadian home is forecast to appreciate four per cent to $380,000 in 2013, up from $363,740 in 2012. Values are expected to continue to escalate in 2014, rising three per cent to $390,000 by year end. “It was quite a turnaround in Canadian real estate markets after a softer start to the year,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Following an initial period of adjustment, first-time buyers pushed forward with delayed intentions, stimulating activity at all price points. With renewed momentum and enthusiasm in place, resale housing is once again poised for growth in 2014.” Regional disparities surfaced early in 2013, according to the RE/MAX Report, and were evident throughout the year. Alberta started the year with a bang, with both major markets bucking the national downward trending in sales. Homebuying activity in British Columbia, Saskatchewan, Manitoba, and Ontario kicked into high gear in July, with most centres expected to move ahead of 2012 levels by year end, led by Greater Vancouver, Kelowna, Victoria (six per cent), Windsor-Essex (six per cent), Edmonton (five per cent) and Hamilton-Burlington (five percent). Yet, performance in Quebec and Atlantic Canada is forecast to fall short of 2012 levels. More consistent performance is expected in 2014, especially given economic projections for the East Coast and Quebec. Both regions should rebound in the new year, led by Halifax-Dartmouth (five per cent), Moncton (three per cent), Greater Montreal (two per cent) and Quebec City (two per cent). “Inventory was vital in maintaining market stability in 2013,” says Gurinder Sandhu, Executive Vice President, Regional Director, RE/MAX of Western Canada. “A run-up in inventory at the outset of the year, amid weaker demand, could have changed the outcome to what ended up being another relatively healthy year of real estate activity. Instead, we saw modest price growth and rising sales levels, particularly in the second half. Another positive performance is projected for 2014, with average price forecast to break records in many markets.” Although there are several factors that are expected to contribute to rising housing values on a national basis, one of the most pressing is build out. Nowhere is that more obvious than in Vancouver, where the mountains and the ocean have prevented further growth, and the Greater Toronto Area, where the greenbelt has stymied future development. As such, the availability of low-rise homes relative to the population is expected to contract, placing further pressure on prices. Vertical growth and its affordable price point is representative of the future. “We’re definitely seeing a greater commitment to higher density at a municipal level,” says Ash. “In fact, the trend already underway in Vancouver and Toronto, has gained serious momentum in smaller markets where cities are moving to infuse vibrancy into the urban core through mixed-use residential/commercial/retail development. The level of investment is substantial—dovetailing with revitalization efforts currently underway.” Solid underpinnings continue to support healthy levels of real estate activity from coast to coast. Buyers appear to be realistic in their pursuits, and after several rounds of mortgage tightening, many are coming to the table better qualified, with larger downpayments and readjusted expectations. Imposed restrictions have had the desired effect. A sound framework is now in place to support steady and sustainable growth over the next several years. Existing inventory levels remain crucial to Canadian housing markets moving forward. The tightening currently demonstrated at entry-level price points—as more first-time buyers make their way back into the market—could translate into further price hikes down the road. “Canadian homebuyers remain savvy, with a long-term mindset that bodes well for stability,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “Yet, they also value progress, and we expect that to translate again in 2014. Equity gains should continue to result in tangible leaps to larger homes or better neighbourhoods, as well as a growing wave of renovation and revitalization. Stock market performance is also expected to bolster homebuying activity, as paper wealth is converted to material wealth.” About the RE/MAX Network RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 90,000 agents provide RE/MAX a global reach of more than 90 countries. RE/MAX is Canada’s leading real estate organization with approximately 19,000 sales associates and 750 independently-owned and operated offices nationwide. RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a subsidiary of RE/MAX Holdings, Inc. (NYSE:RMAX). For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.ca.

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RE/MAX Upper-End Report Indicates that Canadian Luxury Home Markets hit Record Sales in 2013

January, 31, 2014

Our RE/MAX Upper End Market Trends Report, released earlier ths week, took a look at sales activity in 16 major centres across the country—and the numbers were nothing short of incredible!

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With 35 years of real estate experience RE/MAX Associates have become “The Real Estate Leaders” in quality customer service. Our premier market presence and network provides a host of competitive advantages to ensure that RE/MAX Sales Associates have the most to offer you. At RE/MAX we’re proud of our outstanding agents who produce such outstanding results. Welcome to RE/MAX, we hope that you enjoy your visit.