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Canada housing market had a record setting year!

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Canada housing market had a record setting year!

Date: 01/27/2017 | Source: http://news.google.com

Wow! What a year in the Canadian real estate market with both Ontario and BC total sales rising over 9%. Both the demand to get into the market and foreign investment has helped drive these prices up.

In the Kawartha's we are also seeing cottage prices rise as people are looking to move away from the cities.

With that said, we are always helping clients find the best deals in the area. Give us a call if you are looking for a property on one of our beautiful Kawartha lakes. 

 

Article Summary:

• Ontario and British Columbia accounted for 66 per cent of last year’s Canadian sales of existing residential properties – volume rose 9.4 per cent to 243,400 transactions in Ontario and climbed 9.5 per cent to 112,209 sales in B.C. “Clearly 2016 was an remarkable year for Canada’s housing market with resales setting a new record high.

• Greater Vancouver remains the country’s most expensive market, with the price of homes sold last year averaging $1.02-million, while the Greater Toronto Area placed second at $729,591.

• By contrast, the average home price in Saskatoon slipped 1.2 per cent while the Edmonton and Regina markets were flat last year.
 

2016 was a record-setting year for Canada's housing market - The Globe and Mail

The Globe and Mail2016 was a record-setting year for Canada's housing marketThe Globe and MailThe average price for various housing types sold nationally for all of 2016 reached a new yearly high of $490,495, up 10.7 per cent from 2015, though there were stark differences within the country, the Canadian Real Estate Association (CREA) said ...and more »

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