The price of homes in Canada continues to rise in a real estate market that’s red hot heading into 2022.

The Canadian Real Estate Association released its national housing market statistics for November 2021, reporting that the average home price rose to $720,850, up 19.6% from November 2020.

“Housing cycles can be very long, so market trends do not care that we’ve put new 2022 calendars up on our refrigerator doors,” said Shaun Cathcart, CREA’s senior economist, in a news release.

“The fact is that the supply issues we faced going into 2020, which became much worse heading into 2021, are even tighter as we move into 2022. Interest rate hikes will make it even harder for new entrants to break into the market next year, even though activity may remain robust as existing owners continue to move around in response to all of the changes to our lives since COVID showed up on the scene.”

The MLS® Home Price Index rose 2.7% month-over-month in November 2021, pushing the year-over-year gain to a record-setting 25.3% or $157,600 compared to November 2020 👉 https://t.co/ABP2i2Kfbk #CREAStats pic.twitter.com/rFNarFAKri

— CREA | ACI (@CREA_ACI) December 15, 2021

This price is heavily influenced by sales in Vancouver and the Greater Toronto Area, Canada’s most expensive housing markets. Excluding these cities, the national average housing price dropped by $158,000.

The number of newly listed homes rose by 3.3% from October to November. Daily Hive took a look at active listings in major cities across the country. From townhouses to condos and custom-built real estate, here’s what you can find based on the average price of a home.

Vancouver

Price: $729,000

Three-bed, three-bath

Located in Champlain Heights, this three-bedroom townhome is going for just above the average home price. It includes a spacious living area and a large, fully fenced backyard.

Calgary

Price: $709,900

Three bed, 2.5-bath

This home in Calgary’s Altadore neighbourhood includes a basement “ready to be developed” and is near plenty of outdoor space.

You might also like:
• Surrey home sells for more than $400,000 over asking with 17 offers
• These are Canada's most expensive homes ever listed for sale (PHOTOS)
• Canada's housing affordability just hit a 31-year low: report

Edmonton

Price: $750,000

Seven-bed, six-bath

This custom-built home’s standout feature is an enormous backyard, which the current owners have outfitted with a small tennis court and vegetable garden. It also includes a walkout basement with a full kitchen, family room, three bedrooms and two four-piece baths.

Montreal

Price: $724,990

Four-bed, Two-bath

A chic lower duplex space in Montreal’s Villeray/Saint-Michel/Parc-Extension neighbourhood. It includes a bright, fully furnished basement with a family room, office area, bedroom, full bathroom, and laundry room.

Toronto

Price: $715,000

Two-bed, 1.5-bath

Located near St. Lawrence Market, this condo comes with amenities like party rooms, a rooftop terrace, gym, sauna and hot tub.