Are prices for real estate going down? Please share your opinion
Tuesday Sep 19th, 2017
Some people might think that prices for Real Estate are going down in Toronto, after government implemented multiple measures to calm market down. Not to mention that Bank of Canada rate went up by 0.25% two times since September 2016 from 0.75% to 1.25% and the same is true for prime rate.
We all remember crazy price spike in February, March and part of April, then prices stabilized, after implemented measures, but they did not go down to before the spike level.
Despite all of the above, average price for Toronto in comparison to July 2016 went up by $36,393 and it its not yet the end of the year. Please look at the table below (source CREA)
|
Average House Prices by City |
Jul 2017 |
Jul 2016 |
Jul 2015 |
|
Yellowknife |
$366,991 |
$388,352 |
$398,889 |
|
Vancouver |
$1,029,786 |
$1,007,687 |
$866,772 |
|
Victoria |
$644,510 |
$580,555 |
$519,379 |
|
Edmonton |
$383,624 |
$384,504 |
$372,910 |
|
Calgary |
$458,480 |
$469,325 |
$459,958 |
|
Saskatoon |
$325,718 |
$346,879 |
$350,246 |
|
Regina |
$319,595 |
$314,714 |
$309,696 |
|
Toronto |
$746,218 |
$709,825 |
$609,236 |
|
Hamilton-Burlington |
$536,595 |
$491,360 |
$434,730 |
|
Ottawa-Carleton |
$391,119 |
$374,431 |
$369,718 |
|
Quebec City |
$268,884 |
$266,578 |
$276,561 |
|
Montreal |
$378,401 |
$349,218 |
$341,594 |
|
Fredericton |
$187,119 |
$181,833 |
$178,479 |
|
Saint John |
$179,048 |
$168,266 |
$178,089 |
|
Halifax-Dartmouth |
$299,847 |
$292,511 |
$287,288 |
|
Winnipeg |
$294,216 |
$282,684 |
$281,684 |
For more information on real esate news and tips please visit my websitehttps://artinrealestate.ca/real-estate-blog
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