Sign up for our newsletter and get a curated list of the top trending stories and exclusive rewards every day.

Trending Topics

Get the MTL Blog app

Download on the App StoreGet it on Google Play

This Handy Map Shows Where To Find The Lowest Average Home Prices In Canada

Prices are on the rise but there are "pockets of affordability," according to Zoocasa.
Contributing Writer
Home Prices In Canada Chart Reveals Where To Find Best Deals

Many Montrealers dream of buying a home, whether it's a colourful Victorian in the Plateau or a suburban abode in Laval. But a new report suggests home prices in Canada are even more unaffordable now than they were at the same time last year.

In a report published February 18, Zoocasa, a real estate agency, crunched sales numbers from the Canadian Real Estate Association and found the average price for a Canadian home reached $621,525 in January – 23% more than a year before.

Editor's Choice: You're Not A True Quebecer Unless You've Visited At Least 9 Of These 14 Iconic Spots

[rebelmouse-image 26880113 photo_credit="Zoocasa" expand=1 original_size="1300x1607"] Zoocasa

“Of the 25 regional housing markets included in CREA’s monthly report, 24 markets posted a y-o-y increase in the average home price, ranging from 5% to 41%, and just one market — Regina — saw the average home price decrease by 3% to $273,885,” according to report author Jannine Rane.

That’s the bad news for homebuyers, but the good news is the real estate market is anything but constant with huge differences in prices between cities.

The most expensive city in Canada is Vancouver where the average sale price for a home is $1,089,096, according to the report. In Toronto, it’s $967,885.

But in Montreal, that number is only $516,350.

“To better understand where home buyers may find pockets of affordability,” the report identified 18 Canadian cities where average home prices are below the national average and several of them are in Quebec.

Of the urban regions evaluated in the report, the Saguenay area is the second most affordable based on average home price. The cost of a home was up 10% compared to 2020, rising to an average price of $206,242.

Trois-Rivières wasn't far behind with a year-over-year average home price increase of 24% to $225,694.

More from MTL Blog

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.

Loading...