Housing Prices Over The Last 25 Years

What’s Your Home Worth Today?

It’s the question on every Canadian homeowner’s mind:
How much has my home appreciated since I bought it?

With property values surging across the country, especially in suburban areas where detached homes now average close to $1 million CAD, it’s no surprise that curiosity about home equity is at an all-time high.

Let’s Look Back: 25 Years of Growth

To understand how far we’ve come, it helps to look back over the last 25 years — roughly the length of a typical mortgage term. In 1996, the average home price in Canada was around $198,150. Fast forward to 2021, and that number skyrocketed to approximately $1,095,419.

It’s a staggering increase — and one that can be better understood using the CAGR (Compound Annual Growth Rate) calculator, a simple online tool that shows how steadily home values have grown over time.

Fun Fact: Back in 1998, “Toronto” included areas like Brampton, Mississauga, Etobicoke, and Scarborough. These are now independent cities under the Greater Toronto Area (GTA), often used for modern price comparisons.

Curious About Your Home’s Current Value?

Use our free “What’s My Home Worth” tool to get an instant estimate.
Or, for a personalized evaluation, simply fill out the form below and one of our experienced local agents will be in touch shortly.

Understanding Real vs. Nominal Growth

While the average home price increase shows a nominal CAGR of around 7.05%, the real value is slightly different. When you account for costs like:

• Mortgage interest

• Property taxes

• Maintenance and repairs

• Long-term inflation

…the actual net growth may seem lower — but here’s the key: those carrying costs typically reduce over time, while your home’s value keeps rising.

Bottom Line: It’s Still a Smart Move

Even if a 7% annual return doesn’t sound massive, homeownership remains one of the most powerful ways to build long-term wealth. And with your mortgage eventually paid off, your equity and property value continue to grow exponentially.

There’s almost never a “bad time” to buy — only better times to get started.