house condos

Among the different dwelling types available in the Canadian housing market, the condo and the two-storey house often feel like they’re on opposite sides of the spectrum. In Toronto, the squeeze on low-rise stock and the high-rise construction boom have amounted to a widening gap in price between the average home and condo. According to Realnet Canada, for new houses and condos built within the GTA, the average price difference just hit a new record of $222,000 in September.

We wanted to see whether the story is any different for resale properties in major cities across Canada. Royal LePage just released their nation-wide market data for the third quarter of 2013 and we thought we’d put the stats to work in order to answer a nagging question. If you bought your first property as a swinging single with a starter condo, but now want to settle down and move into a standard two-storey house, just how much cash will you need?

A look at the price difference below…

Price difference House and Condo Canada

All stats from Royal LePage Q3 2013 report. For more regional details, see our charts breaking down the price difference in major cities in Central Canada and Western Canada.

Photo: bennylin0724/Flickr

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