Festival condos price list.House prices soared 17.9%. The Canadian housing market has had an unprecedented year, and today, the Canadian Real Estate Association (CREA) released national home sales figures for last year.Please Visit: Festival condos price list to Get Your VVIP Registration Today!
Data show that annual home sales in Canada reached a new high in 2021, with about 667000 residential properties changing hands throughout the year, about 30% higher than the 10-year average and 20% higher than the previous record set in 2020!
However, home sales in December have not changed much compared with November, and coupled with the lack of listed homes on the market, Shaun Cathcart, senior economist at CREA, said the number of homes for sale is now at an all-time low.
The number of new homes in December fell 15 per cent to 28550 from 33606 in the same period in 2020.
“there are fewer properties on the market in Canada than at any other time in history, so unfortunately, the problem of housing affordability in Canada is likely to get worse before the number of listed homes is improved,” Kaskart said. ”
The demand for housing has not been weakened by high prices, on the contrary, the ultra-low number of homes for sale has also stimulated the rise in prices.
Last month, the national average house price reached C $713500, up 17.9% from December the previous year.
If the two most active and expensive markets in the Greater Toronto area and Greater Toronto are excluded, the average house price across the country will fall by more than C $150000.
In the greater Vancouver area, the average house price is more than C $1.2 million, up 15 per cent from C $1.1 million the previous year. In the GTA area, the average house price is more than C $1.1 million, up about 24% from C $932000 last year.
In some smaller areas, the market is still hot. The average price of a house sold in New Brunswick last month was more than C $278000. A year ago, the price was less than 200000, according to CREA.
Vanessa Coates, a local property buyer, said she had been looking for a house in the Shediac area for about a year and a half and now she is very depressed.
Coates said the advertised house was sold within hours of listing, and she couldn’t keep up with the sale of one of her favorites at almost twice the estimated price.
Several Canadian experts said there were signs of a speculative bubble in parts of Canada, while CREA said the biggest reason for the runaway rise in prices was that not enough homes were listed for sale.
Notably, there has been a surge in the proportion of investors among all home buyers over the past few years, according to a new report from the Bank of Canada (BoC).
Investors have accounted for nearly 20 per cent of all Canadian buyers in the past seven years, according to BoC analysis.
