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Average Canadian Housing Prices
When you're looking for a home (and even when you're trying to price your existing home to sell), research the history of housing prices and try to get a feel for where they may be going. Be especially aware of market conditions if you plan to own your home for a short time (1-3 years). If the prices dip and you have to sell before they recover, you may lose money on your investment.
Where do market values come from?
Housing prices fluctuate from year to year as surely as the seasons change. Inflation, interest rates and the general economic climate all play a role. If demand for homes is high, interest rates are attractive and properties are selling quickly, then average housing prices will rise. If the market softens and homes take longer to sell, then market values will go down.
Where are market values in Canada headed?
No one can see into the future and predict inflation trends. But over the past several years, the average cost of a single-family home in Canada has risen:
2006 - $270,000
2001 - $190,000
1995 - $160,000
1992 - $151,000
Average Housing Prices by Region
The figures above are national averages. As you can see from these recent survey results, average house prices vary widely depending on where you plan to live and the type of dwelling.
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Average Housing Prices |
| Region |
Detached Bungalow |
Standard Two Storey |
Standard Townhouse |
Standard Condo |
| Across Canada |
$307,990 |
$348,969 |
$250,813 |
$216,737 |
| Vancouver |
$604,693 |
$648,592 |
$433,988 |
$305,026 |
| Calgary |
$429,889 |
$461,811 |
$364,778 |
$284,144 |
| Edmonton |
$357,917 |
$354,060 |
$263,750 |
$242,600 |
| Regina |
$229,200 |
$199,000 |
$225,000 |
$144,000 |
| Toronto |
$425,126 |
$475,888 |
$326,814 |
$287,639 |
| Ottawa |
$267,589 |
$320,031 |
$224,734 |
$196,264 |
| Montreal |
$231,939 |
$300,981 |
$206,581 |
$195,651 |
| Atlantic Canada |
$177,375 |
$210,444 |
$149,429 |
$153,925 |
Learn More |
Source: RBC Royal Bank Housing Affordability Index, March 2008
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Average Canadian Housing Prices |
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