Here’s what you can find for the average price of a home in Canada

TORONTO – The real estate market in Canada was blazing hot in 2021 and homes are becoming increasingly expensive for potential buyers.

While November data is expected in the coming days, the Canadian Real Estate Association reported last month that the average residential property price rose to $ 716,585 in October, up 18.2 percent from October 2020. Excluding Vancouver, Toronto and their surroundings, the National average price of real estate drops by more than 155,000 USD.

Christopher Alexander, senior vice president of RE / MAX Canada, said 2021 had been busy in the real estate world but expected something closer to normal in the coming year.

“I really think 2022 will be a good year,” he said in a recent telephone interview with CTVNews.ca. “I think people shouldn’t expect the insane price hikes we saw in 2021 to continue. It just won’t happen. “

Alexander cited slowly rising interest rates as the reason for expecting the property market to slow, but added that a lack of supply could continue to drive prices until 2022.

But what is there for the average price?

For Alexander, there are many options for a beautiful home at an average price, depending on where you are looking.

“There are still parts of Canada that are much cheaper than average, like Saskatchewan, Newfoundland, Nova Scotia (and) New Brunswick,” he said.

CTVNews.ca has made a number of active MLS lists in major cities across the country to see what could be achievable for the average price in Canada, and the results range from condos to townhouses to entire island properties.

VICTORIA

(REMAX.de)

Price: $ 744,900

Details: 3 bed, 3.5 bath

In nearby Langford, BC, a three bedroom townhouse is available for something above average, but has a bespoke kitchen and borders a wooded area with a pond.

VANCOUVER

(REMAX.de)

price: $ 715,000

Details: 2 bed, 1 bath

Located in Vancouver’s River District, this two bedroom condominium features a “contemporary designed kitchen” and is close to several parks and shopping districts

EDMONTON

(REMAX.de)

Price: $ 719,800

Details: 6 bed, 4 baths

Described as a “modern luxury home” in Edmonton’s Pleasant View neighborhood, this home features a fully furnished basement.

CALGARY

(REMAX.de)

Price: $ 715,500

Details: 4 bed, 3.5 bath

This home is described as the “very best” in the area and has a patio in the back yard. It is near Calgary’s Bowness Park.

Alexander believes potential homebuyers should view Calgary as a real travel destination.

“I think Calgary will get you the most benefit from each of the cities,” said Alexander. “Calgary has all sorts of great lifestyle amenities close by, like the mountains, hiking and skiing and all that, but the challenge with Alberta is that the economy is so one-dimensional.”

“I think Calgary has great long-term potential.”

WINNIPEG

(REMAX.de)

Price: $ 724,900

Details: 3 bed, 2.5 baths

This 2014 bespoke home features a double garage to the rear of the home, a wine refrigerator, and a “built-in entertainment wall” with a gas fireplace.

TORONTO

(REMAX.de)

Price: $ 719,900

Details: 2 beds, 1.5 baths

This 2 bedroom apartment is located outside of downtown Toronto and has multiple building elements including a gym, pool, party room and yoga studio.

When it comes to cities like Toronto and Vancouver, Alexander says single-family homes sell for about the national average, provided the buyer is willing to compromise.

“If you’re willing to sacrifice a few things, you can find real estate for a lot less,” he said.

“For far less than $ 700,000, you can get something pretty decent. You could probably find something great. It might not be the best area, but it’s all about your needs and wants. ”The customer review has been automatically translated from German.

OTTAWA

(REMAX.de)

Price: $ 719,000

Details: 1 bed, 1.5 bath

This house in Ottawa’s Vanier neighborhood has a detached garage and is listed as being used as a low-rise apartment.

MONTREAL

(REMAX.de)

Price: $ 719,000

Details: 4 bed, 2 baths

This house in the southern part of the island of Montreal has a large garden, an attached carport and is close to public transport.

HALIFAX

https://www.youtube.com/watch?v=jkYNbXr6pMQ

Price: $ 750,000

Details: 3 bed, 1 bath

Though more than the national average, this cottage property spans the entire island of Gezira on Lake MicMac in Dartmouth, complete with walking trails and a docking system.

Alexander specifically highlighted Halifax as a place where homebuyers can potentially find a deal and settle in a coveted city.

“It’s a great city,” he said. “It offers an enormous amount of amenities. You have the sea. They have good schools, parks and hospitals and the quality of life is fantastic. “

“If I wanted to buy something and have an urban center that isn’t as expensive as Toronto or Vancouver, I would check out Halifax.”

ST. JOHN’S

(REMAX.de)

Price: $ 699,900

Details: 4 bed, 3 baths

This home on the east end of St. John’s, NL has a sun room, sauna, and a fully developed basement with a game room.