The value of your home is affected by a number of factors:
- Its location
- The condition of the home and property
- Any renovations or updates you've made
- The economy and interest rates
Estimate your home's current value
Do your research:
- Talk to real estate agents – They may estimate its value for free and should be able to tell you what other homes in your area have sold for.
- Pay an appraiser – Ask your bank or real estate agent to recommend someone.
There's no guarantee what housing prices will do.
Estimate your home's future value
Find out how house prices in your area have changed over the years.
This chart shows the change in house and condo prices in 12 Canadian cities from 1990 to 2010. Note that there has been a sharp rise in prices in the last few years. Still, the average yearly growth for these cities was 4.6% — close to the historical average of 5% a year.
| Halifax |
97,238 |
242,000 |
4.7% |
|---|
| Saint John |
78,041 |
174,000 |
4.1% |
|---|
| Quebec City |
81,462 |
238,500 |
5.5% |
|---|
| Montreal |
111,197 |
284,000 |
4.8% |
|---|
| Ottawa |
141,562 |
342,000 |
4.2% |
|---|
| Toronto |
254,890 |
409,000 |
2.4% |
|---|
| Windsor |
106,327 |
182,000 |
2.7% |
|---|
| Greater Sudbury |
108,596 |
232,000 |
3.9% |
|---|
| Winnipeg |
81,740 |
238,000 |
5.5% |
|---|
| Saskatoon |
76,008 |
294,500 |
7.0% |
|---|
| Calgary |
128,484 |
382,000 |
5.6% |
|---|
| Vancouver |
226,385 |
638,000 |
5.3% |
|---|
Do your research
Use this Investment Calculator to estimate the future value of your home. Also, check out current house prices in major Canadian cities.