Canada’s Average Home Price Hits $816,720, Rising 20% From Last Year

A for sale sign is displayed in front of a house in the Riverdale area of Toronto on Sept. 29, 2021. The Canadian Press/Evan Buhler

Canada’s average home price hit a record high of $816,720 last month, says the Canadian Real Estate Association (CREA).

The group, which represents over 150,000 realtors across Canada, said in a March 15 release that sales were up in roughly 60 percent of markets in February, with the largest jumps in Calgary and Edmonton.

CREA attributed the increase in monthly sales activity to the rebound in the number of newly listed homes which climbed by more than 23 percent in February, following a 10.8 percent drop in January.