Average home prices in Canada are on the rise. New data released by the Canadian Real Estate Association (CREA) shows the average price of a home in Canada was $816,720 in February, a new record for the country. Just one month prior, that figure was $748,450, and in February 2021, the average price of a home in Canada was about $677,600.
Data compiled by the CREA also shows steady increases in the benchmark prices of all major residential property types, including apartments. In February, the average price of an apartment in Canada came to $597,900, up from $571,100 in January.
Earlier this month, a 1,208-square-metre penthouse in Vancouver became the most expensive condominium listed in Canada, with a price tag of $49 million. The four-bedroom, five-bathroom home comprises three floors and is believed to be the largest condo in Western Canada.
Although the country’s condo market contains some costly options, there are still a number of condominiums and apartments available across Canada that are listed at more affordable prices.
