Statistics Canada’s latest experimental housing report indicates Vancouver CMA remains the most expensive market for new single-detached houses, averaging $1.98 million in Q4 2024. A comprehensive study covering seven provinces reveals that Kelowna, Victoria, and Kamloops follow as the next most expensive markets. The report highlights shifting housing preferences, with condominium apartments now representing 45.1% of completed homes, up from 38.6% in 2014, while single-detached homes declined from 39.4% to 30.4% during the same period. Experts note a subdued market in 2024, with completed unsold inventory increasing 59% year-over-year.
The 2024 housing market report reveals Vancouver leads with a $1.98M average for new single-detached homes
