What kind of home can $770 get you in cities across Canada?

As home prices, one gets to wonder about the kind of home one will buy with a specific amount of money.  But it all boils down to the area one prefers to live.  Home prices are different in various areas but one can get similar properties for the same amount in a different city.

For instance a fixer-upper in Toronto, a condo in Vancouver or a wilderness lodge in Yokon have the same amount.

Looking at the high home price in Vancouver, many people are considering searching in other markets. But taking a look at the average home price in Toronto which stands at $770,000, it creates room for one to ask, what kind of home $770,000 will buy in other markets?

A study shows that the size and quality of a selling within the specified price range is quite different in various regions.  In some areas, that kind of money can land one a mansion.

But in Vancouver and Toronto, one has to scout endlessly to find a home in that range.

Despite the fact that Vancouver home prices dropped by 19% last year, the average home price is still the highest in Canada at $878,000 including condos. In Vancouver, it is impossible to find a single-detached home for $770,000 which is the average price in Toronto. However one can get a condo with that amount.

Nevertheless, one can get a home with the price range in Edmonton, Regina, Montreal and Stratford, Prince Edward Island. However, homes in Halifax, Winnipeg and Haines Junction, Yukon are higher than $770,000.


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