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The MLS system of the Canadian Real Estate Association (Canadian Real Estate Association) shows that house prices are soaring and the average house price in Canada is now C $716828.
That figure rose 31.6% in a year, the biggest annual increase since records began. Even prices did not dampen demand, with sales up 70% in march from a year earlier.
According to real estate valuer Leo Otto, the rise in house prices is not limited to real estate hotspots like Toronto. According to him, the pandemic led to an influx of home buyers from Toronto and its commuter suburbs and pushed the real estate boom to smaller cities such as London and Windsor, Ontario.
So, what kind of real estate can you buy all over Canada for C $716000 as well? CBC News looked at the prices of listed properties on April 26th and 27th and found that prices were around the average across the country.
If the budget is only C $716000, it is hard to find housing in Vancouver other than an one-bedroom Condo. This is the property that can be bought in Vancouver for C $716000:
The house price in Calgary is not high, and the average house price of a detached house is only C $4441900. For C $719900, you can buy a large local house with four bedrooms and three bathrooms:
Regina property is also cheap, and this time, the C $719000 property bought in Regina even has enough space to set up a separate fitness area. The market in Saskatchewan has also exploded as people look for larger housing during the outbreak.
The average house price in Winnipeg is also the lowest of the three prairie provinces, and a decent property can be bought for as little as C $318074. If you are willing to pay C $699900, you can own a five-bedroom mansion in Canada.
