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Resale home prices soar in 2004

2004 was a big year across the board in residential real estate, and the recently released 2004 resale numbers confirm it. Most major residential markets across Canada witnessed a 10% spike in home prices in 2004. Vancouver was no exception and continues to lead the nation in average resale cost.

The average home resale sold through the Multiple Listing Service last month was priced at $252,767 in Canada's major markets. That was up 10.7 per cent from December 2003.

Vancouver continued to be home to Canada's most expensive real estate. The average MLS-listed resale was $381,199 last month, up 10 per cent over the year.

Toronto was in second place, with an average resale price of $315,761 in December, up 10.8 per cent from the year before. - CBC News

Resale home prices rise more than 10 per cent in 2004 [CBC News]

January 18, 2005 in Market Watch | Permalink