The real estate market in Canada has been red hot in 2021 and homes are becoming increasingly expensive for prospective buyers.
While the data from November is expected in the coming days, the Canadian Real Estate Association reported last month that the average residential home price rose to $716,585 in October, up 18.2 per cent from October 2020. Excluding Vancouver, Toronto and their surrounding areas, the national housing average price drops more than $155,000.
Christopher Alexander, senior vice president of RE/MAX Canada, said 2021 has been busy in the real estate world, but expects something closer to normal in the coming year.
“I really think 2022 is going to be a good year,” he told CTVNews.ca in a recent phone interview. “I think people should not expect the crazy price appreciation that we saw in 2021 to continue. It's just not going to happen.”
Alexander cited slowly rising interest rates as a reason to expect a slowing housing market, but added that lack of supply may still drive prices into 2022.
But what is actually available for the average price point?
For Alexander, there are plenty of options out there for a nice home at an average price, depending on where you look.
“There are still pockets of Canada that are much more affordable than the average, like Saskatchewan, Newfoundland, Nova Scotia (and) New Brunswick,” he said.
CTVNews.ca complied a series of active MLS listings in major cities across the country for a look at what might be attainable for the average price in Canada and the results range from condo units, to townhomes, to entire island properties.
House for sale in Victoria (ReMax)
(REMAX.ca)
Price: $744,900
Details: 3 bed, 3.5 bath
In nearby Langford, B.C., a three-bedroom townhome is available for a little above average, but includes a custom kitchen and backs onto a wooded area with a pond.
Condo for sale in Vancouver (ReMax)
(REMAX.ca)
Price: $715,000
Details: 2 bed, 1 bath
In Vancouver’s River district, this two-bedroom condominium comes with a “contemporary designed kitchen” and is close to several parks and shopping areas
A house for sale in Edmonton. (ReMax)
(REMAX.ca)
Price: $719,800
Details: 6 bed, 4 bath
Described as a “luxury modern house” in Edmonton’s Pleasant View neighbourhood, this home comes with a fully furnished basement.
A home for sale in Calgary. (ReMax)
(REMAX.ca)
Price: $715,500
Details: 4 bed, 3.5 bath
This home is described as the “very best” in the area and includes a deck in the backyard. It is close to Calgary’s Bowness Park.
Alexander believes that perspective homebuyers should be looking at Calgary as a true destination.
“I think (in) Calgary, you'll get the most value out of any of the cities,” Alexander said. “Calgary's got all kinds of great lifestyle amenities close to it, like the mountains and hiking and skiing and all that, but the challenge with Alberta is their economy is so one dimensional.”
“I think Calgary has got great long-term potential.”
SASKATOON
Saskatoon home for sale
(Realtor.ca)
Price: $719,900
Details: 3 bed, 3 bath
This open concept home features nine-foot ceilings, two gas fireplaces and custom kitchen cabinets. The master bathroom comes with a large walk-in shower, heated tile floors and two sinks. Built this year, the home also has a backyard that faces south, allowing for plenty of sunlight to peek through.
REGINA
Regina home for sale
(Realtor.ca)
Price: $749,900
Details: 5 bed, 4 bath
Located in the southern part of the city, this home is packed with upgrades and comes with a chef’s dream kitchen, complete with granite countertops and stainless steel appliances. The fully developed basement comes stocked with a large recreation room, wet bar and lots of extra storage.
A home for sale in Winnipeg. (ReMax)
(REMAX.ca)
Price: $724,900
Details: 3 bed, 2.5 bath
This custom-built home from 2014 comes with a double garage off the back of the home, wine fridge and a “built-in entertainment wall” with a gas fireplace.
A condo for sale in Toronto. (ReMax)
(REMAX.ca)
Price: $719,900
Details: 2 bed, 1.5 bath
This two-bedroom condo located outside Toronto’s downtown core comes with several building features, including and a gym, pool, party room and yoga studio.
When it comes to cities such as Toronto and Vancouver, Alexander said detached homes for around the national average are out there, provided the buyer is willing to make some compromises.
“If you're willing to sacrifice some things, you can find properties for much less,” he said.
“For much less than $700,000, you can get something pretty decent. Uou could probably find something big. It might not be in the best area, but it's all about what your needs and wants are.”
A home for sale in Ottawa. (ReMax)
(REMAX.ca)
Price: $719,000
Details: 1 bed, 1.5 bath
This home in Ottawa’s Vanier neighbourhood features a detached garage and can be used for a low-rise apartment, according to the listing.
A home for sale in Montreal. (ReMax)
(REMAX.ca)
Price: $719,000
Details: 4 bed, 2 bath
This home on the southern part of the Island of Montreal comes with a sizable backyard, an attached carport, and is close to public transportation options.
Price: $750,000
Details: 3 bed, 1 bath
While it is more than the national average, this cottage property comes with the entirety of Gezira Island on Lake MicMac in Dartmouth, complete with hiking trails and a docking system.
Alexander specifically highlighted Halifax as place where homebuyers can potentially find a deal and settle down in a desirable city.
“It's a great city,” he said. “It offers a tremendous amount of amenities. You've got the ocean. You've got good schools and parks and hospitals, and the quality of life is fantastic.”
“If I was looking to buy something and I wanted an urban centre that isn't expensive like Toronto or Vancouver, I would be looking at Halifax.”
A home for sale in St. John's. (ReMax)
(REMAX.ca)
Price: $699,900
Details: 4 bed, 3 bath
This house in the east end of St. John’s, N.L.features a sunroom, sauna and has a fully developed basement with a games room.
Homicide investigators in B.C. say murder charges have been laid against a fourth Indian national in connection to the killing of Sikh activist Hardeep Singh Nijjar outside a Surrey gurdwara last year.
The rolling hills leading to the hamlet of Rosebud are dotted with sprawling farms and cattle pastures -- and a sign sporting a simple message: No Race Track.
A man who tried to access Drake’s Bridle Path mansion earlier this week returned to the property Saturday and was apprehended again for allegedly trespassing, Toronto police say.
A man has been transported to hospital after police say he was stabbed in a random attack carried out by a group of teens in Toronto on Friday night.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
U.S. President Joe Biden on Saturday called Donald Trump “clearly unhinged” and claimed that “something snapped” in the former president after he lost the 2020 election.
The wildfire that prompted the evacuation of more than 3,000 people near Fort Nelson, B.C., was caused by a tree falling on wires, according to the municipality's mayor.
Swiss singer Nemo won the 68th Eurovision Song Contest on Saturday night with 'The Code,' an operatic ode to the singer’s journey toward embracing their nongender identity.
From London, to Grand Bend, Collingwood and Guelph, here are some highlights of Friday night and Saturday morning's northern lights display.
Homicide investigators in B.C. say murder charges have been laid against a fourth Indian national in connection to the killing of Sikh activist Hardeep Singh Nijjar outside a Surrey gurdwara last year.
The wildfire that prompted the evacuation of more than 3,000 people near Fort Nelson, B.C., was caused by a tree falling on wires, according to the municipality's mayor.
Police in New Westminster say they have seized “numerous” weapons and kilograms of drugs as part of an investigation into drug trafficking in the city that began in 2022.
A man who tried to access Drake’s Bridle Path mansion earlier this week returned to the property Saturday and was apprehended again for allegedly trespassing, Toronto police say.
Those who missed the dazzling display of northern lights in Ontario may have another chance on Saturday – so long as the skies clear.
Toronto police are investigating after tow trucks were shot at in Scarborough about two hours apart Saturday night.
One person has died in a collision along Stoney Trail and McKnight Boulevard Northeast.
The five candidates seeking the top position in the NDP met at the BMO Centre for the party’s second official debate.
The actions, including the decision to use non-lethal force, to disperse pro-Palestinian protesters from the University of Calgary campus were justified, Alberta Premier Danielle Smith said Friday.
A powerful geomagnetic storm lit up the night sky on Friday and early Saturday morning, resulting in an incredible light show across eastern Ontario.
The Overbrook community is banding together to support residents after two devastating high-rise fires last week.
Those who missed the dazzling display of northern lights in Ontario may have another chance on Saturday – so long as the skies clear.
A cyclist turned herself in and received a fine after striking a four-year-old girl who was crossing the street to catch a school bus.
Quebecers across the province turned their gazes upwards on Friday night as a spectacular show in the sky was on display thanks to a solar storm hit the earth's atmosphere.
Dozens gathered on Lavoisier Boulevard in Ferland Park in Montreal on Saturday as a pair of white shoes were installed in memory of a mother and grandmother, who was struck and killed by an SUV almost four years ago in the St. Leonard borough.
Multiple people at the protest camp torn down at the University of Alberta campus Saturday say police's actions against protesters were "violent" and "disproportionate."
Out-of-control wildfires in northern Alberta prompted a local state of emergency in the County of Grande Prairie early Saturday morning, as well as evacuation orders in the county and the Municipal District of Greenview.
The Edmonton Police Service is issuing a warning to the public about a convicted violent sexual offender who is being released.
Police in Shelburne, N.S., have charged a woman with attempted murder after an altercation led to a woman being stabbed on Friday.
One man had to be airlifted to the hospital after a serious collision in Cambridge, N.S., Friday afternoon.
As the weekend comes around, so do new movies to the box office, and this week there are a number of films to keep an eye out for.
People living in southern Manitoba should be on the lookout for severe thunderstorms Saturday evening.
Several community groups who work with the city’s vulnerable populations gathered downtown on Saturday for an event to celebrate the impact of their work on Winnipeg.
Some homes and cottages north of Flin Flon, Man. are under an evacuation order because of a growing wildfire caused by drought conditions and high winds.
The 8th annual Nagar Kirtan Parade packed the streets of Regina on Saturday, bringing the Regina Sikh community and people from surrounding areas together.
As a geomagnetic solar storm swept through Earth on Friday, people in southern Saskatchewan were able to experience a rare display of northern lights.
Prince Albert singer Rebecca Strong is on the cusp of achieving a dream on Canada’s Got Talent as she stands among the final eight contestants.
A spectacular and colourful show lit up the night sky across southwestern Ontario on Friday night.
Canada’s top university football athletes gathered on the gridiron Saturday to show off their skills in the East-West Bowl at the University of Waterloo.
New stamps have been released featuring the work of five Canadian graphic novelists, including one from Guelph, Ont.
Mitchinson Flight Centre in Saskatoon helped girls soar on Saturday with their annual "Girls Take Flight" event.
Prince Albert singer Rebecca Strong is on the cusp of achieving a dream on Canada’s Got Talent as she stands among the final eight contestants.
As a geomagnetic solar storm swept through Earth on Friday, people in southern Saskatchewan were able to experience a rare display of northern lights.
Those who missed the dazzling display of northern lights in Ontario may have another chance on Saturday – so long as the skies clear.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
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A weather advisory issued Saturday afternoon warning of favourable conditions for the development of funnel clouds was dropped Saturday night by Environment Canada.
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Windsor police officers have laid multiple charges against a 70-year-old man in connection with the alleged sexual assault of a minor.
The most powerful geomagnetic storm in the past 20 years resulted in some awe-inspiring images captured by people all across Windsor-Essex.
Like skywatchers across Canada, B.C. residents were treated to a dazzling display late Friday night and early Saturday morning.
Homicide investigators in B.C. say murder charges have been laid against a fourth Indian national in connection to the killing of Sikh activist Hardeep Singh Nijjar outside a Surrey gurdwara last year.
The wildfire that prompted the evacuation of more than 3,000 people near Fort Nelson, B.C., was caused by a tree falling on wires, according to the municipality's mayor.
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The Office of the Ontario Fire Marshall has concluded its report into a fire that caused millions in damages to a property along Charles Walk in Elliot Lake back last year.
City officials in Elliot Lake, Ont., confirm that repairs to the water line on Hillside Drive North have been completed and water has been restored to all homes – however, a boil water advisory remains in effect for the entire city.
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.
Health officials say there is an outbreak of whooping cough in eastern Newfoundland.
Ontario Provincial Police are facing tough questions about their search for a missing Newfoundland trucker whose rig was found two weeks ago in Ontario, then sent back to Newfoundland, where his body was found Monday in the trailer.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.
The stakes have been set for a bet between Vancouver and Edmonton's mayors on who will win Round 2 of the Stanley Cup playoffs.
A grieving mother is hosting a helmet drive in the hopes of protecting children on Manitoba First Nations from a similar tragedy that killed her daughter.
Justin Trudeau says Meta is making billions off people, but taking no responsibility for the well-being of communities they profit from.
A man who was accused of sexually and physically assaulting a woman had his charges dropped in April, just weeks before he was set to stand trial in Toronto, due to a lack of judges in the region.
Canada is putting $76 million towards a German-led effort to help Ukraine defend itself from Russian missiles and aircraft, Defence Minister Bill Blair announced Friday.
For decades, North Bay, Ontario's water supply has harboured chemicals associated with liver and developmental issues, cancer and complications with pregnancy. It's far from the only city with that problem.
When you're picking something up from the floor or bending over to tie your shoe laces, you're performing "the hinge move," according to movement trainers.
A provincial coroner will be investigating the death of 68-year-old David Lippert, who suffered a cardiac arrest while waiting in a crowded emergency room in Kitchener, Ont.
Justin Trudeau says Meta is making billions off people, but taking no responsibility for the well-being of communities they profit from.
A swarm of roughly 20,000 bees gathered around a woman’s car in the parking lot of Burlington Centre.
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A man who tried to access Drake’s Bridle Path mansion earlier this week returned to the property Saturday and was apprehended again for allegedly trespassing, Toronto police say.
Swiss singer Nemo won the 68th Eurovision Song Contest on Saturday night with 'The Code,' an operatic ode to the singer’s journey toward embracing their nongender identity.
The union representing WestJet Encore pilots says its members rejected the tentative deal reached last month, with just over half voting the agreement down.
The Ontario government says it will be supporting Ontario Power Generation's plan to refurbish the R. H. Saunders Generating Station on the St. Lawrence River.
Average hourly wages among Canadian employees rose to $34.95 on a year-over-year basis in April, a 4.7 per cent increase, according to a Statistics Canada report released Friday morning.
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Vladimir Guerrero Jr. went 4 for 5 with three RBIs, a run, and a stolen base as the Toronto Blue Jays rallied past the Minnesota Twins 10-8 on Saturday.
Ron Ellis, who played over 1,000 games with the Toronto Maple Leafs and was a member of Canada's team at the 1972 Summit Series, has died at age 79.
Canada’s top university football athletes gathered on the gridiron Saturday to show off their skills in the East-West Bowl at the University of Waterloo.
Tesla will spend more than US$500 million to expand its fast-charging network, CEO Elon Musk said on Friday, days after abruptly laying off employees who were running the business.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.
If you're cruising down a highway and realize you have a flat tire, you may want to think twice before stopping to fix it on the side of the road.
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