Yes, Canada still does have affordable real estate! The call rang out loud and clear last month, as a century-old mansion listed for sale in Nova Scotia went viral. The Mounce Mansion became a media sensation thanks to it’s asking price, $434,900, which is less than half of what even a semi-detached home would garner in Toronto, let alone a 7,000-square-foot estate. After two years of media coverage on the inflated Vancouver and Toronto real estate markets, this was a much-needed reminder to the world that Canada’s real estate is still reasonably priced in many provinces.

While Vancouver’s manic market has been slowed somewhat – thanks to the province’s new Foreign Buyers Tax – homes and condos alike are still garnering head-turning purchase prices. The situation is more dire in Toronto; according to the latest Toronto Real Estate statistics, the average price for a Toronto home has climbed about 27.7% in the last 12 months alone, and pundits don’t forecast an end to the inflation anytime soon, blaming a lack of supply and skyrocketing demand.

Compared to Vancouver – which currently demands an average of $906,700 (all housing types) – and Toronto – $727,300 on average – Eastern Canada is the promised land! If you want to purchase a home in any of our country’s eastern-most provinces, you’ll likely only have to shell out between $200,000 and $500,000.

Here are some photos of the Mounce Manse in Nova Scotia:

(A bit spooky… I hope the new owner doesn’t believe in ghosts!)

^{*Photos are property of Jan Wan Photography via Huffington Post}

You can also check out a short video spot by CBC Nova Scotia on the property:

After receiving interest from all over Canada, the United States, and as far off as Ireland, the property ended up receiving multiple offers and selling to a Canadian buyer for $455,000, which is $20,100 over asking.

And to think, for just $18,000 more, that same buyer could have bought a condominium in Toronto, the average price of which currently sits at $471,281!

~ Posted by Steven Fudge, the purveyor of canadianrealestatehousingandhome.ca and proprietor of urbaneer.com, a division of Bosley Real Estate Ltd., Brokerage.