Home sales in Canada took a small dip in September.

According to the Canadian Real Estate Association, sales in September fell 0.4% compared to August.

It was the first month-over-month decline since April, with sales falling in slightly more than half of all local markets.

Photo Credit: CREA

The dip wasn’t fueled by a lack of housing options as the CREA reports a 3% increase in the number of newly listed homes between August and September.

“In markets with an abundant supply of homes and slower sales activity, buyers have the upper and when it comes to negotiations over price,” said Gregory Klump, CREA’s chief economist.

“However, in places where buyers are keen to make a purchase but there’s a shortage of homes for sale, sellers are in the driver’s seat when it comes to price.”

Photo Credit: Canadian Press

It’s a far more significant drop when you compared sales numbers with a year ago, however, as sales have fallen 8.9% between September 2017 and September 2018.

You can’t really blame that dip on price either, as the national average price for a home sold in September was $487,000, just a 0.2% increase compared with one year ago.

If you exclude the Greater Toronto Area and Greater Vancouver Area, the average price was just over $383,000.