Houses were selling faster then they were being listed in some markets, thus making it a “seller’s market”.
Across Canada, the price of a single dwelling home rose by more than 25 per cent since last year.
The average cost of a home in Canada was a whopping $720,850 according to national stats from the Canadian Real Estate Association’s website.
In Thunder Bay, the cost for a single detached home went up by 10.5 per cent since last year. You would have to either have cash in hand or be ready to finance a home selling for $276,289.
According to the CREA’s numbers, more than 630,634 homes were listed and sold this calendar year. That’s up by almost 80 thousand homes from last year’s record setting sales.
