The most expensive and affordable real estate markets in Canada

Vancouver is once again the most expensive place to buy a family-sized home — four bedrooms and two bathrooms — in Canada. According to Coldwell Banker’s annual Home Listing Report, the average home price in Lotus Land is $1,876,414.

“The universal appeal of Vancouver for foreign buyers and relocating Canadians, particularly retirees, continues to fuel demand for this market,” said Paul Prade, president of Coldwell Banker Westburn Realty. “Despite some moderation after new mortgage regulations took effect last July, listing prices in our market are a product of ongoing high demand, projected population growth and the low inventory levels of homes in what is one of the most desirable locations in Canada,” he said.

Meanwhile, nearby Richmond, BC ($1,181,654) and Burnaby, BC ($917,968) rounded out the top three most expensive markets in the country.

As for the most affordable markets, several of them are found in Central Ontario and the Maritimes. Windsor, ON actually earned the least expensive distinction, with an average list price of $170,991 for the studied four-bedroom, two-bathroom home.

Not surprisingly, the most affordable markets in North America this year are all found in the US.

“Canadians are well aware of the wealth of real estate opportunities that are currently available in many U.S. markets,” said John Geha, president of Coldwell Banker Canada Operations ULC. “In fact, Canadians are the number one foreign buyers in the US, with a particularly strong presence in warm weather destinations such as Florida and Arizona that are favoured by Canadian ‘snowbirds’.”

The 10 most affordable markets in Canada:

  • Windsor, ON ($170,991)
  • Rimbey, AB ($201,950)
  • Welland, ON ($218,354)
  • New Glasgow, NS ($218,641)
  • Amherst, NS ($224,662)
  • Niagara Falls, ON ($228,858)
  • Trail, BC ($232,300)
  • Smiths Falls, ON ($232,343)
  • Trent Hills, ON ($237,800)
  • Cornwall, PEI ($239,750)

The 10 most expensive markets in Canada:

  • Vancouver, BC ($1,876,414)
  • Richmond, BC ($1,181,654)
  • Burnaby, BC ($917,968)
  • Oakville, ON ($745,000)
  • Burlington, ON ($709,930)
  • Fort McMurray, AB ($608,655)
  • Whitehorse, Yukon ($555,492)
  • Windermere, BC ($552,380)
  • Bedford, NS ($505,900)
  • Ottawa, ON ($500,233)

The complete list can be seen here.

  • Joel-Anthony Del Grande

    Just crazy. With a minimum wage of $10.25, it’s almost hard to imagine Vancouver prices being that high.

  • mjakobczak1@gmail.com

    Yea crazy how expensive Canadian real estate is. I wrote an article on this, that might interest you. http://usfasttrack.ca/?p=1122

  • http://www.buzzbuzzhome.com BuzzBuzzHome

    Some good points, but you paint the Canadian market in pretty broad strokes.

  • Mark Jonson

    The most very affordable promotes, a lot of these people are normally found inside Key Property for Rent in OntarioOntario along with the Maritime. Windsor, its really earned the lowest priced distinction.

  • Irene Brautigam

    No idea why Canmore never makes lists like this and others. Our average single family home prices have been over $900,000 since the mid 2000′s. We often hear about Calgary, Edmonton and Fort McMurray prices and never is Canmore mentioned in the Alberta market. In fact today the “average” is sitting at $1,530,908 but the median price is $1,380,870. After almost 60 years living here, I question why anyone would want to live anywhere else in Canada and totally understand why the prices are where they are here and should be…..never mind Vancouver with it’s depressing grey skies

  • Kernick Homes

    So stunning! I had never heard about this thing before. Thanks for sharing such a nice information with us.

  • Preeti

    Great information shared.
    have you heard about RTM houses? They are affordable purchase too. They come in bungalow sized houses and it is a joy to stay in such houses. You can also shift these houses from one place to another.