Single-family detached home prices hit $508,500, rising by 11.1%, a trend that Soper said reflected the lack of supply and rising demand for properties in that city.<\/p>\n
Toronto and Vancouver still much pricier than elsewhere \u2013 but the gap is narrowing<\/p>\n
Another trend that jumps off the page from the company\u2019s latest market report: the price gap between the Toronto and Vancouver markets and the rest of the country is slowly narrowing thanks to falling values in those two cities and climbing prices elsewhere.<\/p>\n
In 2022, the gap between aggregate home prices in Toronto and Montreal was around $800,000, Soper said. By the fourth quarter of last year it had dropped to $440,000 \u2013 and it fell further in 2026\u2019s first quarter, slipping to $375,000.<\/p>\n
Even when prices were sky-high in Toronto and Vancouver \u2013 for instance, in the period of rampant appreciation during the COVID-19 pandemic \u2013 many buyers still felt the time was right to jump into the market amid lower interest rates and higher savings trends.<\/p>\n
But while prices have fallen in those cities, they\u2019re still higher than in other Canadian markets and the economic uncertainty generated by the Iran war and tariff turmoil tends to be a bigger factor for buyers there than elsewhere, according to Soper.<\/p>\n","protected":false},"excerpt":{"rendered":"Single-family detached home prices hit $508,500, rising by 11.1%, a trend that Soper said reflected the lack of…\n","protected":false},"author":2,"featured_media":383637,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,199139,219,111,139,69,5130,41621],"class_list":{"0":"post-383636","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-canada-housing-market","10":"tag-economy","11":"tag-new-zealand","12":"tag-newzealand","13":"tag-nz","14":"tag-toronto","15":"tag-vancouver"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/383636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=383636"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/383636\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/383637"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=383636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=383636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=383636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}