Average Home Price in Canada Crosses the $500,000 Mark

The numbers for February's house sales are in and are showing an increase in the average home price across Canada. The average price of a residential property has crossed the $500,000 mark in February 2017.

The price increase was driven largely by the Greater Toronto Area and surroundings as current supply cannot keep up with demand. The Canadian Real Estate Association president Cliff Iverson says the competition between buyers is less of a problems in other major Canadian cities.

The average price for a Canadian home in February 2017 was $519,521 up 3.5% from February 2016.

If you are considering buying a home or condo in Ottawa, Ontario call Ottawa real estate broker Roch St-Georges to discuss your real estate needs.