2017 Average Price Forecast Report
Where are average home prices heading? A recent forecast report published in March from the Canadian Real Estate Association is shedding some light into the average residential price across Canada.
The 2016 National Average for residential sales was $490,033 which translates into a 10.8% increase over 2015.
The Forecast report shows the provinces with the biggest percentage increase being Ontario at 15.6% and Prince Edward Island at 5.2%. The National Average is estimated to be $513,500 which translates into a 4.5% increase over 2016.
British Columbia and Newfoundland should see their average home prices drop in 2017 by 6.5% and 5.5% respectively.
Ontario should also lead other provinces in 2018 with an estimated 7.7% increase in home prices.
If you are in the market of buying a home or condo in Ottawa, Ontario for your family or as a investment trust the services of Roch St-Georges with EXIT Realty Matrix. 613-889-7732