Canada Real Estate Market: Just how hot is hot ?

Home prices moving at ‘uncomfortably hot pace’ in big markets

Calls for a soft landing for the housing market appear on the mark this year, with sales and price gains this spring “comfortably cool” across much of the country, experts at TD Economics and others say.

But there are some big exceptions.

Toronto, Vancouver and Calgary, already Canada’s priciest markets, are seeing home prices leap higher still as limited supply of some housing types and ultra low interest rates fuel bidding wars, particularly for single family homes.

Teranet house price data shows average 4.9% annual rise 

Hot Calgary housing market sets all-time price records

Calgary house price growth leading the nation 

What They Got

$1.2 million in Bayview Village, $632,000 in The Danforth neighbourhood

Bayview Village

Location: 36 Bayberry Cres.,

Burbank and Citation Drives

Asking price: $1,199,000

Selling price: $1,210,000

Previous selling price: $671,000 (2006)

Size: about 1,200 sq. ft.

Lot: 55 by 105-ft., two-car attached garage, private drive

Taxes: $4,505 (2013)

Bedrooms: 3 plus 1

Bathrooms: 2

Days on the market: 7

The Danforth

Location: 685 Rhodes Ave.,

Danforth and Coxwell Aves.

Asking price: $579,900

Selling price: $632,000

Previous selling price: $252,000 (2006)

Size: about 1,100 sq. ft.

Lot: 15.7 by 120-ft., no garage, lane drive, two parking spaces

Taxes: $2,459.16 (2013)

Bedrooms: 3 plus 1

Bathrooms: 3

Days on the market: 6