The real estate numbers are in for April, and once again, they were up, up, up. According to the Canadian Real Estate Association, the average home price for resale homes across Canada jumped 9.5 per cent last month from a year earlier, hitting $448,862. A lot of that gain was driven by two markets in particular—Toronto and Vancouver. Strip those out, and the average home price increased by 3.4 per cent to $339,893.
But how much home can you get for the average price of $448,862 in different cities across Canada? Since there are so many different types of homes captured in CREA’s average (condos, townhouses, detached and semi-detached houses), we decided to narrow our search just to houses (detached or semi). The goal was to see just how close to each city’s centre a potential buyer could find a place for roughly that price. In some cases, cheaper houses can be found that are even closer to downtown, but we’ve picked those houses priced nearest to the average. The houses and prices below come from the Realtor.ca website and are current as of May 15.
Address: 15155 Dove Pl., Surrey, B.C.
Asking price: $449,000
There simply isn't a house for sale in the actual City of Vancouver, detached or not, that can be had for the average national price. So it's off to Surrey we go. Distance to downtown: 30 km. By transit, it'll take a bit over one hour. The quickest route downtown is by car (35 minutes depending on the traffic) but commuters will be dinged $150 a month for the toll on the Port Mann Bridge.