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Royal LePage: More than half of Canada's largest real estate markets see double-digit price growth as national home values soar 9.7% in fourth quarter


Price of detached homes continue to outpace condominiums as Canadians trade location for square footage
Despite strong push toward the suburbs, Toronto and Montreal single-family homes see double-digit price gains in city centres
Median price of a two-storey home in Greater Vancouver rises 8.8% as buyers prioritize square footage
Out-of-region buyers spur Maritimes home prices, as option of remote work and demand for large, affordable properties grows
Aggregate price of a home in Canada rose $206,815 since Q4 2015
TORONTO, Jan. 15, 2021 /CNW/ - According to the Royal LePage House Price Survey released today, the aggregate
1 price of a home in Canada increased 9.7 per cent year-over-year to $708,842 in the fourth quarter of 2020, as strong seller s market conditions continued to shape Canada s real estate market through the end of the year. The significant year-over-year increase in aggregate price was driven by price gains for larger properties. Sixt ....

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Number of million-dollar-plus homes on the Calgary market in decline


In the past year, 498 homes in Calgary fetched more than $1 million, with the average price of those at $1,448,667, said Realtor Justin Havre.
Recently, two homes sold for around $4 million, one of them going for $500,000 below its appraised value, he said.
“People are cautious. It takes a lot for them to pull the trigger.
“They’re looking at some pretty good opportunities and throwing out some pretty low price points.”
Even so, that market and the wider one have been kept afloat at a reasonably healthy level by “incredibly low interest rates,” said Havre.
On Thursday, the city released its property assessment rolls that suggest residential values have fallen by two per cent since the previous year, based on a July 1, 2020, review. ....

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Home prices in Calgary and Edmonton expected to remain stable in 2021: realtor group


 
CALGARY
Royal LePage is predicting a slight increase in detached home prices and a modest decrease in condominium prices in Calgary in 2021, as well as stable prices in the Edmonton market.
According to the group s market survey forecast released Monday, the aggregate price of a home in Calgary next year is expected to be $469,600 a 0.75 per cent increase over 2020 and the median price of a two-storey detached home is pegged at $514,800, a jump of 1.5 per cent compared to 2020.
The stabilized price prediction is due in part to a decline in listings at the start of the year as well as the expected rise in demand for homes as interest rates remain low. ....

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NetNewsLedger - Demand for Homes Resulting in Increases Real Estate Prices


NetNewsLedger
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TORONTO – BUSINESS – Residential real estate is surging. Demand for housing has exceeded supply through the last half of 2020. This has put pressure on home prices, which Royal LePage says, in their Market Survey Forecast predicts a five and a half per cent increase in the price of the average home in 2021.
The price of a home in Canada in 2021 across the country will be $745,100, while the median price of a two-storey detached house or condominium will be projected to rise by six per cent, and 2.25 percent respectively to $890,100 and $522,700.
“The leading indicators we analyze are pointing to a market that favours property sellers in the all-important spring of 2021,” said Phil Soper, president and CEO, Royal LePage. “Across the country, a large number of hopeful buyers intent on improving their housing situation were not able to find the home they were looking for this year, as the inventory of properties for sale came n ....

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