House prices are soaring, with the average national price now standing at $716,828, according to the Canadian Real Estate Association’s MLS system.
According to Leo Otto, a real-estate appraiser, price hikes are not limited to the hot zones like Toronto.
So what do you get for nearly three-quarters of a million dollars in Canada? CBC looked through listings on April 26 and 27 and found homes across the country whose prices sit around the national average.
For $716,000, buyers will have a hard time finding anything other than a one-bedroom condominium like this one, which was listed for $719,000.
The benchmark price — the typical price of a home — in Calgary rose to $441,900 in March.
With an asking price of $719,000, this property boasts enough space for a workout area, a selling point for many people in the pandemic.
Winnipeg’s average selling price last month was $318,074, according to the Manitoba Real Estate Association.
Not so in Toronto, where you are more likely to find a condo like this one, which has a small outdoor balcony.
Leo Otto, the real estate appraiser, predicts there could be a softening of the market this winter but no major correction.
At 967 square feet, this condo is considerably larger than the ones located in Toronto and Vancouver.
The province’s real-estate market is so hot that previously ignored vacant land, half-built developments and empty building lots are suddenly being swept up.
This three-bedroom townhouse, on the market for $695,000, is just a short walk to downtown.
According to data released by the Prince Edward Island Real Estate Association, the average cost of a home jumped 21.9 per cent from last year, frustrating islanders looking to buy their first home.
This house, built in 1895, was recently renovated with high-end details and millwork, which can be seen in the living and dining room.
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