Current Canada Home Prices: 723,100 (-0.3% vs last year)
Nov 01, 2024
| 2000: | $167,000 | |
| 1975: | $42,600 | |
| 1950: | $12,200 | |
| 1925: | $4,500 | |
| 1900: | $2,000 |
Canadian Home Prices. Canadian home prices have increased on average 4.9% (vs 3.7% in the US) annually going back to 1900.
It is important to recognize that an important part of the increase came not from an actual rise in price, but from investments in the size of the average house.
In the 1970s, the average home size was approximately 1,500 square feet. By 2023, this had grown to about 2,430 square feet, marking an increase of around 930 square feet, or roughly 62%.
This reprensents an increase of 1% per year.
Surprisingly, adjusting for the average home size and inflation, real home prices have not gone up much in the last 100+ years.
Sources: