What's the average price of a home where you live?
What's the average price of a home where you live?
The latest data from the Canadian Real Estate Association (CREA) shows that average home prices in Canada took a slight dip in April compared to one month ago. The organization reported that the average price of all residential property types in Canada was $796,068 in March before dropping to $746,146 in April, with price levels not seasonally adjusted.
Despite this, Canadians still spent more on home purchases in April 2022 than they did in April 2021, with major markets across the country seeing notable increases in average home prices year-over-over.
Some regions, such as St. John’s, N.L., reported a moderate growth in the cost of a home; MLS benchmark prices compiled by the CREA showed that the price of a typical home in the city was about $268,000 in April 2021 before rising to $296,200 exactly one year later. Meanwhile, the average price of a home in the Greater Toronto Area, for example, came in at $1.35 million in April 2022, up from about $1.03 million just one year prior.
MLS home price index benchmark prices represent the value of a typical home in different Canadian neighbourhoods. Figures take into account different types of residential housing, and are not seasonally adjusted.
CTVNews.ca has gathered a number of properties that are listed at what is considered the average price of a home in their respective regions. With properties in cities ranging from Kelowna to Moncton, these listings represent the price of a typical home in major Canadian markets.
GREATER VANCOUVER
(Paul Albrighton, Re/Max Crest Realty)
Type: Apartment
Price: $1,375,000
Year Built: 2006
Property Size: 94.48 sq. m
Lot Size: N/A
This unique loft is located in Vancouver’s Yaletown neighbourhood, and includes two levels under 17-foot ceilings. Exposed concrete walls and floor-to-ceiling windows give this apartment unit its flair, with a design inspired by the high-end condominiums in New York’s Tribeca neighbourhood. The property also features a modern, European-style kitchen with marble countertops and backsplash, as well as upgraded grey oak floors throughout.
INTERIOR B.C.
(Prime Light Real Estate / Dean Witala, Re/Max Kelowna Stone Sisters)
Type: House
Price: $799,900
Year Built: 2003
Property Size: 182.55 sq. m
Lot Size: under 0.4 hectares
With four bedrooms and two bathrooms, this single-storey home in west Kelowna has an open concept living area, complete with richly-coloured hardwood flooring and vaulted ceilings. The lower level is ideal for entertaining, with a multi-purpose recreation room, while the backyard deck offers views of the mountains nearby. The property is just a short walk away from schools and several hiking trails.
CALGARY
(ListSimple / Sarah Johnston, CIR Realty)
Type: Apartment
Price: $525,000
Year Built: 1911
Property Size: 93.37 sq. m
Lot Size: N/A
Two exposed brick walls give this top-floor loft in downtown Calgary its industrial style. Contrasting the textured brick walls are sanded wood floors, found throughout most of the unit’s 93 square metres. The kitchen includes stainless steel appliances and an island countertop made of stone, while the bedroom has a walk-in closet and provides easy access to a four-piece ensuite bathroom.
SASKATOON
A home listed on the market in Saskatoon. (Quiksell Real Estate Photography / Megan Dyck, Re/Max Saskatoon)
Type: House
Price: $349,000
Year Built: 1959
Property Size: 104.42 sq. m
Located in the Saskatoon neighbourhood of Sutherland, this 104-square-metre bungalow features a mid-century modern design, and its open-concept layout allows the kitchen area to flow into the living and dining rooms on the main floor. The lower level includes a bedroom, living room, and newly-renovated bathroom. In the backyard is a berry garden complete with goji berries, Saskatoon berries, and raspberries.
WINNIPEG
(Janina Nicole Photography / Jennifer Pinder, Ethos Realty Inc.)
Type: Apartment
Price: $354,900
Year Built: 1912
Property Size: 93.55 sq. m
Lot Size: N/A
This two-bedroom, one-bathroom apartment mixes old-world charm with modern design, combining century-old wood beams and exposed brick with updated finishes. The unit, found in Winnipeg’s Exchange District, also has its own private rooftop patio overlooking the downtown skyline. Building amenities include a fitness facility and party room, while restaurants, public transportation, and the Waterfront are all located nearby.
GREATER TORONTO
(360Xposure / Tammy Degiorgio, Re/Max Regal Homes)
Type: Apartment
Price: $1,347,500
Year Built: 2000
Property Size: 130 to 149 sq. m
Lot Size: N/A
This apartment in Toronto’s Candy Factory Lofts features an open-concept living space with 12-foot ceilings held up by Douglas fir posts. Natural light seeps in through the large, arched window to help brighten the exposed brick walls. Located in the city’s Queen West neighbourhood, the unit is within walking distance of Trinity Bellwoods Park, as well as a number of shops and restaurants.
OTTAWA
(Next Door Photos / Marnie Bennett and Greg Blok, Bennett Property Shop Realty)
Type: House
Price: $724,922
Year Built: 2016
Property Size: 75 sq. m
Lot Size: 117.65 sq. m
Built in 2016, this three-storey Ottawa home comes with light hardwood floors throughout. On the main floor are a combined kitchen and living area, as well as a bathroom, while the top floor includes two spacious bedrooms, a bathroom and laundry area. The property also has its own private balcony, with the ability to install a barbecue, making it especially easy to entertain friends and family.
MONTREAL
(Simon Ravary / Marie-France Caouette, Re/Max Action)
Type: Apartment
Price: $595,000
Year Built: 2014
Property Size: 73.7 sq. m
Lot Size: N/A
Found in south Montreal, this condominium unit features two bathrooms and two bedrooms across 74 square metres of space. The crisp white walls contrast the rich wood flooring in this concrete building. Amenities include a swimming pool, gym and terrace with a panoramic view of downdown Montreal, and the unit is situated within walking distance of the city core.
GREATER MONCTON
(Mohammad Abrar Sharif / Amreet Sidhu, Exit Realty Associates)
Type: House
Price: $349,900
Year Built: 1961
Property Size: 173.01 sq. m
Lot Size: under 0.2 hectares
Located in the west end of Moncton, this 173-square-foot home with four levels is situated on a large corner lot. With an open layout on the main floor, the spacious living room flows directly into the kitchen. On the second floor are three bedrooms and a bathroom, while the basement level features a family room, kitchenette, and another bathroom. In the backyard is a deck, great for entertaining friends and family.
HALIFAX-DARTMOUTH
(Ludmila O Photogaphy / Joyce Clarke, Re/Max Nova)
Type: House
Price: $524,900
Year Built: 2019
Property Size: 141.21 sq. m
Lot Size: under 0.2 hectares
Only a few years old, this rancher-style home in the Dartmouth community of Nova Scotia has two bedrooms and two bathrooms. Both bathrooms have full enclosure tubs with lights, as well as custom vanities and granite countertops. On the main floor, the kitchen features a walk-in pantry, granite countertops, and an open-concept layout, connecting to the living room area, which also leads to a private outdoor backyard.
PRINCE EDWARD ISLAND
(Odyssey Virtual, Michael Thompson / Jeff Ellsworth, Red-Isle Realty Inc.)
Type: House
Price: $339,000
Year Built: mid-1980s
Property Size: 97.55 sq. m
Lot Size: 0.61 hectares
This home in Alberton, P.E.I. sits on a 0.61-hectare lot. Built in the mid-1980s, the two-storey property has since had a number of renovations done, most recently receiving a new vinyl and cedar exterior. The stairway and bannister, however, are original, and lead to a second level with an office area, a master bedroom with a walk-in closet, two additional bedrooms and a bathroom.
ST. JOHN’S
(Tyler Oxford Photography / Scott Graham, Royal LePage Atlantic Homestead)
Type: House
Price: $299,900
Year Built: 2001
Property Size: 159 sq. m
Lot Size: under 0.2 hectares
Not far from the Memorial University of Newfoundland, shopping centres or the highway, this fully developed bungalow in St. John’s is complete with three bedrooms and two bathrooms. The lower level of this 159-square-metre home also includes a recreation room. The yard is entirely fenced off and landscaped, while a backyard shed offers additional storage space.
YOUR FINANCES
Almost half of Canadians are doing worse financially than the previous year: survey
As inflation rates soar to the highest they've been in Canada in nearly forty years, nearly half of Canadians say that right now, they're doing worse financially than they were at this time last year.
Here's how to save on your next grocery order, according to Canadian couponers
As Canada’s inflation soars, two ‘extreme couponers’ offer their advice on how to save at the grocery store.
4 things Canadians can do to save money on their groceries during inflation
With Statistics Canada reporting a 9.7 per cent increase in food costs over the last year, Canadians are being pushed to find ways to pinch pennies at the grocery stores. Here are some ways to save.
Is it time for a 'gas tax holiday' in Canada?
As fuel prices reach record highs and drive inflation, there have been growing calls for governments to temporarily suspend or reduce gas taxes. CTVNews.ca spoke with experts on whether a gas tax holiday makes sense in Canada.
Canada's inflation nears 40-year high as gas prices soar
Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt for a supersized interest rate hike next month.
'Retirement crisis' is in the works amid inflation: survey
More Canadians are facing challenges to save for retirement security as inflation continues to soar and markets decline, a new survey has found.
Ontario student warns about losing debit card after $14,000 lands on RBC account
An Ontario student is warning people of the risk that comes with failing to report a lost debit card after $14,000 in fraudulent deposits landed in her RBC account.
OPINION
OPINION | How much money do you need to live as a digital nomad?
With the world opening up, there’s been a renewed interest in travelling and working in different countries as a digital nomad. So how much money do you need to make it work abroad? Contributor Christopher Liew breaks it down in an exclusive column for CTVNews.ca.