{"id":23659,"date":"2023-09-05T06:00:00","date_gmt":"2023-09-05T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=23659"},"modified":"2023-09-15T09:51:05","modified_gmt":"2023-09-15T13:51:05","slug":"how-much-equity-youve-built-in-5-years","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/","title":{"rendered":"Bought Your Home Five Years Ago? Here\u2019s How Much Equity You\u2019ve Built"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Though the real estate market is known to fluctuate, over time home prices generally trend upwards &#8211; which is good news for homeowners. In most cases, the longer it&#8217;s been since purchasing your home, the more its value tends to increase. The exact amount of equity you\u2019ve built in your home will vary depending on whether you have any loans or outstanding mortgage payments, but it is largely dependent on the home\u2019s current market value.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free <\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em>weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To find out exactly how much equity a benchmark-priced home has built in the past 5 years, Zoocasa analyzed data from 15 major Canadian markets and calculated the estimated equity built on a home bought at the composite benchmark price, a detached home, a townhouse, and a condo in each city in July 2018.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1415\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2.png\" alt=\"\" class=\"wp-image-23662\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2-127x300.png 127w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2-434x1024.png 434w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2-768x1812.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2-651x1536.png 651w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-226-2-868x2048.png 868w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h1 class=\"wp-block-heading\">Ontario Home Values Skyrocketed<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">During the pandemic, home prices surged in suburbs as homebuyers searched for an escape from tight, city living. As a result, homes bought in 2018 in smaller cities such as <a href=\"https:\/\/www.zoocasa.com\/kitchener-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Kitchener-Waterloo<\/a>, <a href=\"https:\/\/www.zoocasa.com\/london-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">London &amp; St. Thomas<\/a>, and <a href=\"https:\/\/www.zoocasa.com\/ottawa-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Ottawa<\/a> experienced a dramatic increase in value. A Kitchener-Waterloo home bought at the July 2018 composite benchmark price of $455,800 is now worth $765,000 &#8211; that\u2019s $309,200 built in equity. A benchmark-priced home bought at the same time in London &amp; St. Thomas increased its value by $272,000 in July 2023.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Edmonton<\/a>, which had a similar July 2018 benchmark price as London &amp; St. Thomas at $355,300, didn\u2019t experience equal growth in equity. The built equity of an Edmonton home bought in July 2018 at the benchmark price is only $19,800 &#8211; the lowest on our list for composite benchmark homes.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/fall-2023-real-estate-market-predictions\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Falling Leaves, Rising Trends: Real Estate Market Predictions for Fall 2023<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Metropolitan areas like <a href=\"https:\/\/www.zoocasa.com\/vancouver-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Vancouver<\/a> and <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Toronto<\/a> also saw home values increase, though the value of Greater Toronto homes increased significantly more than Greater Vancouver. A GTA home bought at the July 2018 benchmark price of $759,500 is now worth $1,161,200 &#8211; an increase of $401,700 and the largest increase in value on our list. A home bought at the July 2018 benchmark price in Greater Vancouver, however, increased in value by $197,600.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"689\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234.png\" alt=\"\" class=\"wp-image-23663\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234-261x300.png 261w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234-750x861.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234-768x881.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-234-1338x1536.png 1338w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Majority of Detached Homes Increased in Value by More than $150,000<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As detached homes are the most expensive property type, it comes as no surprise that the value of most detached homes increased by a significant amount. Greater Toronto and Greater Vancouver took the top spots for having the most equity built for a detached home bought in July 2018 at the benchmark price, with both increasing in value by over $400,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Despite the Prairies experiencing substantial price growth during the past few years, with the exception of <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a>, detached homes bought in the Prairies have increased in value by under $100,000, with Edmonton and <a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a> detached homes building the smallest amount of equity at $28,100 and $32,500 respectively.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"656\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-236-1-1.png\" alt=\"\" class=\"wp-image-23668\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-236-1-1.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-236-1-1-274x300.png 274w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-236-1-1-750x820.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-236-1-1-768x840.png 768w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n<\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"682\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2.png\" alt=\"\" class=\"wp-image-23669\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2-264x300.png 264w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2-750x853.png 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2-768x873.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/08\/Frame-237-2-1351x1536.png 1351w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Kitchener-Waterloo Comes Out on Top for Townhouses and Condos<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Nearly every property type in every city built thousands of dollars in equity over the past five years, however, only two property types decreased in value from July 2018 to July 2023: Regina townhouses and Edmonton condos. A Regina townhouse bought at the July 2018 benchmark price of $237,400 decreased in value by $600, while an Edmonton condo bought at the July 2018 benchmark price of $207,900 decreased in value by $27,300.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/what-1m-can-buy-ontario\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Real Estate For Sale: Here\u2019s What $1 Million Dollars Can Buy You in Ontario<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.zoocasa.com\/waterloo-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Kitchener-Waterloo<\/a> is the standout city when it comes to townhouses and condos. A Kitchener-Waterloo townhouse bought at the July 2018 benchmark price of $338,800 increased in value by $309,900 &#8211; the largest increase on our list, surpassing <a href=\"https:\/\/www.zoocasa.com\/hamilton-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Hamilton-Burlington<\/a>, Greater Vancouver and even the GTA. Kitchener-Waterloo condos also built a significant amount of equity, increasing in value by $221,000.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Whether you\u2019re looking for a condo, a townhouse, or a detached property, our expert agents are ready to help you navigate your local real estate market to find you the perfect home. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a>!<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Considering a move?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Though the real estate market is known to fluctuate, over time home prices generally trend upwards &#8211; which is good news for homeowners. In most cases, the longer it&#8217;s been since purchasing your home, the more its value tends to increase. The exact amount of equity you\u2019ve built in your home will vary depending on [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":23661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1111,560,1107],"tags":[],"class_list":["post-23659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-canada","category-home-investment","category-infographics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bought Your Home Five Years Ago? Here\u2019s How Much Equity You\u2019ve Built | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"If you&#039;re a homeowner in Canada, understanding how much equity you&#039;ve built is important for making financial decisions. Discover how different property types increased their value from 2018 to now.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bought Your Home Five Years Ago? Here\u2019s How Much Equity You\u2019ve Built | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"If you&#039;re a homeowner in Canada, understanding how much equity you&#039;ve built is important for making financial decisions. Discover how different property types increased their value from 2018 to now.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-05T10:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T13:51:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Blog-x-Social-Images-68.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mackenzie Scibetta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/09\/Blog-x-Social-Images-68.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mackenzie Scibetta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/how-much-equity-youve-built-in-5-years\/\"},\"author\":{\"name\":\"Mackenzie Scibetta\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\"},\"headline\":\"Bought Your Home Five Years Ago? 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