Average house price to pass $700K next year in Calgary: Royal LePage yyc
The Greater Toronto Area market is expected to drop off, but it will remain the second most expensive market in Canada with the average single-family detached home going for $1,329,413, down 2.5 per cent from $1,363,500. Meanwhile, Toronto’s condo market is expected to grow in price by one per cent, from $694,300 to $701,243 — or the price of a detached house in Calgary.
Detached homes in Edmonton are expected to jump two per cent next year, but they will be a relative bargain compared to their Alberta cousins at $491,436. Condos in the capital, meanwhile, should drop by 1.5 per cent from $201,300 to $198,281. Vancouver is the only major market that will be pricer than Toronto, with an average detached home falling two per cent from $1,678,100 to $1,644,538, while condos should jump by one per cent from $739,900 to $747,299.
The only major Canadian market expected to see more growth than Calgary is Ottawa. Royal LePage has forecasted a two per cent increase in that city’s aggregate, from $725,100 to $739,602. Condos will go up two per cent to $378,114 and detached homes will jump one per cent to $850,117.
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