NW Week

Tuesday, September 26, 2023

You can find out average home price in Canada

average home price in Canada

Key Takeaways:

  • The Canadian real estate market has been scorching in 2021, and homes are becoming increasingly expensive for prospective buyers.

While November data is expected in the arriving days, the Canadian Real Estate Association noted last month that the average residential home price rose to $716,585 in October, an increase of 18.2 percent from October 2020. The national housing average price falls by more than $155,000 when Vancouver, Toronto, and surrounding areas are excluded.

According to Christopher Alexander, senior vice president of RE/MAX Canada, 2021 has been a busy year in the real estate world, but he expects things to return to normal in the coming year. Alexander cited slowly rising interest rates as one reason for a slowing housing market but added that a lack of supply may continue to drive prices into 2022.

But what is available at the average price point?

average home price in Canada ;Image from Toronto Star

Alexander has plenty of options for a lovely home at an average price, depending on where you look.

“There are still pockets of Canada that are much more affordable than the average,” he said, citing Saskatchewan, Newfoundland, Nova Scotia and New Brunswick.

The cost is $719,800.
Six bedrooms, four bathrooms
This home in Edmonton’s Pleasant View neighborhood is described as a “luxury modern house” with a fully furnished basement.

The cost is $715,500.
Four bedrooms, 3.5 bathrooms
This home is described as the “best” in the neighborhood and features a deck in the backyard. In addition, it is close to Bowness Park in Calgary.

The cost is $749,900.
Five bedrooms, four bathrooms
This home, located in the city’s southern outskirts, is loaded with upgrades, including a chef’s dream kitchen with granite countertops or stainless steel appliances. In addition, the fully finished basement includes a large recreation room, wet bar, and plenty of extra storage.

Source: CTV News

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