Canada’s Hottest Markets
The average prices of housing in Canada in March is $548,517 and this average is up by 8.2 per cent but this is due to an imbalance of having hot and cold markets; it is a fact that the strength of this average is as a result of prices in the Southern Ontario and Greater Toronto areas where prices soared by 30 per cent in a pace of a year but this increase of the country’s total price percentage can’t be attributed to contributions of Vancouver which faced a reduction of prices by 9.3 per cent in a year according to the Canadian Real Estate Association Data. Sales also reduced by 30 percent from a year ago.
The hottest market turned out to be from the Southern Ontario region and this region like many other places in the Greater Toronto surrounding has witnessed booming as people in Toronto search for more affordable homes. This is the list of Toronto’s hottest markets in 2017.
- Top hottest market: Niagara Region.
This area has witnessed a sales volume increase of up to 30 per cent with an average sales price of $403,124 which is an increase of 34.5 per cent.
- Second hottest: Greater Toronto.
This area has witnessed a sales volume increase of up to 17 per cent with an average sales price of $916,567 which is an increase of 33.2 per cent.
- Third hottest: Kitchener-Waterloo.
This area has witnessed a sales volume increase of up to 23 per cent with an average sales price of $492,815 which is an increase of 23 per cent.
- Fourth hottest: Hamilton-Burlington.
This area has witnessed a sales volume increase of up to 20.8 per cent with an average sales price of $607,846 which is an increase of 30.1 per cent.
- Fifth hottest: Thunder Bay.
This area has witnessed a sales volume increase of up to 10.8 per cent with an average sales price of $242,478 which is an increase of 29 per cent.
