However, buyers in the hot markets, such as Toronto and Vancouver (and in condo - booming Montreal) the percentage of first - time buyers who bought a single family
detached home dropped to less than 30 %.
Move 30 minutes away (an hour each way in rush - hour traffic) and the income required to afford
a detached home drops to $ 158,000 per year.
Not exact matches
Detached homes experienced the biggest
drop, down 39.4 per cent compared to the average.
The average value of a
detached home has
dropped more than 14 %.
A
drop in the price of single
detached homes in Toronto has led to a partial recovery of housing affordability across Canada, but prices are likely to re-accelerate after spring, according to a report by Royal Bank of Canada.
Traditional dwelling types, such as attached and
detached homes along with row houses, have all
dropped in sales.
While prices have surged, the number of luxury
detached homes sold fell nearly 70 per cent year - over-year in the first four months of 2018, while luxury condo sales
dropped about 28.1 per cent compared to the first four months of 2017.
The Toronto Real Estate Board says sales of all major types of residential property were down but the biggest decline was a 40.4 per cent
drop in sales of
detached homes.
Price levels for
detached bungalows and standard two - storey
homes are moderately higher in the second quarter of 2010 compared to last year, but average prices for standard condominiums have
dropped slightly over the same period.
Prices for
detached bungalows and standard two - storey
homes in Edmonton increased modestly over second quarter levels of 2009, while standard condominium prices have
dropped.
The median lot size of a new single - family
detached home sold in 2015
dropped under 8,600 square feet for the first time since Census Bureau's Survey of Construction (SOC) started tracking the series.
Contrast that with the
drop in the Bay Area of more of about 3 % or $ 14k to $ 33k for
detached homes and you realize LA is a more attractive housing market for property investors.
In Vancouver,
detached bungalow prices
dropped 3.2 per cent year - over-year to $ 1,052,500, and standard two - storey
homes decreased by 2.3 per cent to $ 1,151,250.
In Western Springs, the median sales price of a single - family
detached house rose 10.4 percent to $ 615,000, and while the number of
homes sold in Elmhurst
dropped 7.1 percent to only 65, the median price jumped 44.6 percent to $ 600,000.