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The Home Price Index is the most advanced and accurate tool to gauge a neighbourhood’s home price levels and trends. Average home prices can change frequently, and don’t always tell the complete story. They do not consider features in the home that may impact pricing – examples include:

  • Number of rooms above the basement level

  • Number of bathrooms & half-bathrooms

  • Square footage for main living & basement areas

  • Whether it has a fireplace and/or finished basement

  • Lot size

  • The age of the property

  • Parking

  • How the home is heated

  • Foundation, flooring, siding & roofing types

  • Whether the property has waterfront or panoramic view

  • Whether the property has been sold previously (newly constructed and previously unsold, or repeat sale)

  • Proximity to shopping, schools, hospitals, police stations, churches, sports centres, golf courses, parks, and transportation (including the train station, railways, and airports)

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