Autumn house hunting - Macleans.ca
 

Autumn house hunting

How far will your money take you in today’s market?


 

Autumn house huntingBy the end of the summer, it became clear Canada’s housing market is in the best shape it’s been since cratering last winter. In Vancouver, for instance, the number of sales in September was up 124 per cent over the previous year; in Toronto, sales were up 24 per cent. But as economists love to remind us, when demand goes up, so too do prices. Combined with an already short supply of houses on the market, this helped raise the average selling price by 11 per cent from the same quarter last year.

So, how far will your hard-earned cash take you in today’s market? Click below to find out.

150k 350k
500k 1mil

 
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Autumn house hunting

  1. The house shown for sale in St. John's for $150K is on the West Coast of Newfoundland in George's Lake and no where near where you are showing it. It's about 400 miles away.

  2. in my opinion house prices have dropped and will continue to drop in the next couple of years. i look at houses on mls daily. higher prices are not selling as fast as lower prices for same value of home.

    • I agree people involved with real estate talk a good game trying to inspire people to buy but the bottom is about to fall out…

      • A conspiracy by real estate professionals to trick you into thinking that housing prices are rising does not exist. Sales and price data are pulled from houses that have actually sold. Part of the issue is that Canada is such a large country it would be inaccurate to say that housing prices are collectively going up or going down. Local economic factors will definitely be your best indication as to where housing prices are going. Most often when people quote that housing prices in Canada are going up, they point to the large urban centers Toronto, Vancouver, Calgary and Ottawa. In general, housing prices in these areas are rising. A very low interest rate and immigration are the two main reasons.

        • http://www.greaterfool.ca

          Housing is way overpriced out west compared to the east… only 2 countries in the world have not had a major correction Canada and Australia, we are not in good shape at all.

    • You must be kidding. In Toronto the prices went up like crazy. We bought a semi for $300K in 2008 and now it is virtually impossible to find anything similar for that price. You have to pay at least 360K+

      • Sell now

  3. There is only one reason house prices go up and that is the closing costs being passed on to the next buyer. Selling at $300,000.00 and a conservative 4% realestate fee means an increase to the base price to $300,000.00 x ,04) $312,000.00 for the new buyer to sell if (s)he hopes to break even at a selling price of $300,000.00 and this doesn't include the various other closing costs lawyers, land transfer etc that the new buyer will want to recover from the initial purchase.

  4. I have been looking for a house now since the end of August in the range of 300,000-360,000. The horror that is available at these prices is ridiculous. However they are selling and in fact they are getting more than what they are asking for because they go into multiples. If you want to live in a reasonable nice house in the York Region, you have to pay $400 plus. So I disagree that the house prices have dropped.

    The only reason for the increase in prices is because the public is spooked and feel that they should pay $400 for a house that is not worth more than 300. People need to step back and assess whether a house in worth the price it is set for

  5. This is an old article. With old pictures. How about something newer reflecting today's economy… don't just change random numbers, change the whole article… the economy isn't the same with a few different numbers, its changed too..

  6. You couldn't have PICKED any uglier, smaller, squatter or more overvalued inner city yuppie flip lots for Calgary, or Edmonton, for that matter. You can get twice the home with twice the landscaping and square feet comparatively, to any photo Maclean's provided in this silly joke of photo postings in the not-too-distant suburbs. Prices have gone down here nicely. You don't know these areas at all, and I question your choices.

    • I totally agree. The houses they showed in Edmonton are both in the inner city. There are a ton of bigger, more beautiful homes available for $500k… maybe not so many for $350, but still. Those pictures are not at all representative of the bulk of the housing available in Edmonton.

  7. Montreal still has some good deals and always with Office québécois de la langue française, keep Quebecers small mindedand prices down.

  8. For instance, for Calgary, Macleans chooses an attached boxy condo with zero lot and no landscaping painted in Halloween orange for one million dollars. Compare that to this genuine million dollar listing, & make sure to click on the house photo:
    http://www.realtor.ca/propertyDetails.aspx?proper

    Macleans resents Alberta, IMO.

  9. Completely agree with Mary. Macleans, you should be embarrassed by your blatant misrepresentation of the real estate market in Calgary. My wife and I recently purchased a house far nicer than your "million dollar" home for less than half that amount. If you had selected properties with similar proximity to the downtown core in each of these cities, you may have an article worth reading.

  10. I think this is a fairly fair/neutral article. The pictures of Vancouver houses are accurate and not exaggerated at all. We have very very expensive (overpriced) homes here, but the demand still exists.

  11. Vancouver house prices exploding now you can build a laneway house (as of August 2009) on your lot if its 33 feet wide allowing more income to cover your expensive purchase. Vancouver is being fueled by Overseas buyers again, if you list you sell seems asking price doesnt matter.

  12. I forget to mention anyone see the latest on Vancouvers most expensive home being built 31,000,000 and its not even finished yet.

    I dont think theres any housing recession in Vancouver.

  13. Looks my budget might get me a bicycle shed. Newer windows. Cozy, with charm. Easy access to sidewalks.

    Terrific.

  14. As long as one can nake the case that buying is a better option than renting (residual value build-up) I believe that lower end homes will continue to garner the lion's share of the housing market

  15. Anglo de Laval : Tu es une "tête carrée" : déménage au plus vite, on n'a pas besoin de morons comme toi au Québec !

  16. Is it affected by the recession? How about the price range from different commercial areas? Because I read somewhere they prefer condos.

  17. I agree with above post and autumn house hunting is a nice way to collecting new ideas as well as you can generate some money as well as both in Vancouver and Toronto sales grows rapidly..
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  18. Absolutely awesome post.. i too believe that in the time of recession autumn house hunting is the best way to fight with recession..
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