The average price of a home in Canada hit a high of $748,450 in January, according to new data released Tuesday by the Canadian Real Estate Association (CREA). This represents an increase of 21 percent compared to the same period last year, with unadjusted figures.
Month over month, Canada recorded a 1% increase in national home sales from December. The number of newly listed properties, however, fell 11% from December to January.
Across the country, there appears to be an even split between the number of local markets that saw an increase in sales and those that saw a decline. Cities such as Calgary, Ottawa and the Greater Vancouver area saw an increase in the number of residential real estate transactions, while activity in Winnipeg and Montreal declined.
The national average price of a home is heavily influenced by sales in specific regions of the country, including Greater Vancouver and the Greater Toronto Area, which are considered two of the busiest and most expensive housing markets in Canada. .
As this year gets off to a record start, it looks like real estate prices will continue to climb. While the average price of a home in Canada may have exceeded $700,000, there are plenty of options across the country that don’t cost as much. Below are properties across the country that are listed for less than $700,000:
(Art Seroff, Rennie & Associates Realty Ltd. / 3D Vision Services)
Year of construction: 2013
Property size: 65 m²
Lot size: N / A
This one-bedroom, one-bathroom penthouse in North Vancouver is completely remodeled, featuring heated hardwood floors, custom cabinetry, and an oversized quartz waterfall island. The open layout, nine-foot ceilings, and large windows let in natural light, while the balcony is ideal for admiring panoramic views of Vancouver Harbour.
(Daniel Weiss, Coldwell Banker Oceanside)
Year of construction: 1975
Property size: 109 m²
Lot size: N / A
With new kitchen cabinet coverings and a remodeled bathroom, this corner apartment in West Victoria features a number of recent upgrades. It has three bedrooms and a bathroom, as well as laminate wood floors and new vinyl windows. Nearby are several parks as well as a recreation center and the Esquimalt waterfront.
A house in Calgary is displayed in this image. (Guy Cooley, Re/Max First / Nathan Mass)
Year of construction: 2007
Property size: 128 m²
Lot size: 0.03 hectares
This fully finished home in South Calgary features four bedrooms and 2.5 bathrooms on two floors. Also on the property is an oversized 22ft by 26ft garage with access to an overhead storage area and a new roof. The kitchen, dining room, and living room on the main level all follow an open-concept floor plan, and the basement is completely remodeled with a bedroom, bathroom, recreation room, and laundry room. .
(Debra Duncan, Re/Max Crown Real Estate / Hatch Media)
Year of construction: 1976
Property size: 248 m²
Lot size: 0.08 hectares
Located in Regina, this residential home has a large private lot backed by lots of green space. Inside, the house features five bedrooms, four bathrooms, and a grand hall with an elegant staircase. Black granite countertops stand out against gray cabinetry finished with modern hardware. The basement is also completely renovated with its own bedroom, kitchenette and playroom.
Year of construction: 2005
Property size: 193 m²
Lot size: 639 m²
The 13-foot ceiling of this four-bedroom, four-bathroom Winnipeg home offers a spacious living and dining area. New hardwood covers the main floor and the master bedroom includes a large walk-in closet and an adjoining four-piece bathroom. In the back yard is a veranda with vaulted pine ceilings and a sturdy plank exterior. The house is within walking distance of a nearby school and park, and a short drive to amenities.
(Karin Rotem, Re/Max Realtron Realty Inc. / Houssmax)
Year of construction: 2017
Property size: 60 m²
Lot size: N / A
Located in downtown Toronto, this apartment features an open concept layout, with the boudoir combined with the kitchen and dining room. It also includes two bathrooms and a bedroom with a walk-in closet. An oversized double balcony offers views of the east side of the city, while its proximity to nearby trams makes it easy to get around town.
(Sab Taylor, Re/Max Hallmark Pilon Group Realty)
Year of construction: 2018
Property size: 180 m²
Lot size: 199 m²
This three-bedroom, three-bathroom townhouse is located in Ottawa’s east end. Hardwood floors run throughout the living and dining areas, which are illuminated by recessed lights. The living room includes a gas fireplace surrounded by tile and the kitchen includes a pantry and breakfast bar. Outside, the south-facing backyard is embellished with a stone patio.
(Sophie St-Onge, Re/Max du Cartier Inc. / iCapture3D)
Year of construction: 1987
Property size: 106 m²
Lot size: N / A
This corner apartment unit in southwest Montreal lets in lots of natural light on both floors. It has two bedrooms and two balconies. Improvements have been made to the bathroom and kitchen, which include new flooring, and transportation is easy with metro stations, highways and a bus line located nearby.
(Nicole Darbaz, The Darbaz real estate group)
Year of construction: 2019
Property size: 250 m²
Lot size: N / A
Custom built in 2019, this St. John’s home sits on an oversized lot and features three bedrooms and 2.5 bathrooms. The kitchen is made up of all-white cabinets with shaker-style doors and includes a center island that seats four. A surround sound system is installed in the main living area, and the home also features nine foot ceilings downstairs and a propane fireplace.
(Albert Kays, EXIT Realty PEI / Odyssey Virtual)
Year of construction: 1970
Property size: 273 m²
Lot size: 0.09 hectares
With five bedrooms and three bathrooms, this Charlottetown home also features a spacious eat-in kitchen, as well as a formal dining room that extends into the living room. The basement has been recently renovated and includes a large recreation room, as well as a bedroom and a full bathroom. A deck overlooks the private yard and the home itself is located just minutes from downtown Charlottetown when traveling by car.