Earlier this week, the Canadian Real Estate Association (CREA) released its roundup of national statistics for February, and things are looking wild out there. But, we thought we’d have a little fun with the data and show you just how much the price of an ‘average home’ can get you across Canada. Get ready to see some variety!
According to the latest data, the current average price of a home in Canada is $748,450 (we rounded up to $750,00). Now, this number is heavily influenced by sales in Vancouver and Toronto, but hey, we think it’s more fun to keep them in the game. Especially when we look at things on a national scale.
Let’s get started!
Surprise! There are currently no detached homes available in Vancouver for under the ‘average home’ price in Canada. The closest you can get is an 808 square foot townhouse in Fairview, which comes with 1 bedroom and 1 bathroom. On the plus side, it does come with 2 patios!
Mudge Island- $745,000
Although this definitely qualifies as a fixer-upper, you can still get a waterfront home in BC for under $750k! The 1,518 square foot home features a whopping 5 bedrooms and 2 bathrooms. Convert one of them into a home gym and the other into an office, and you’re cruising.
We’re not about to try and sell Calgary for its density. But, the urban sprawl pays off big time when you can find a 2,038 square foot home with an incredible backyard to boot. Offering 3 bedrooms and 3 bathrooms, this is a great option for anyone hoping to develop a green thumb.
In contrast, we’re of the opinion that Edmonton is actually better than Calgary for ‘city living’. Exhibit A- this Glenora home that is just minutes to the Downtown Core as well as the River Valley. Don’t worry about a lack of space, either, as there are still 4 bedrooms and 3 bathrooms in this 1,970 square foot home.
West St. Paul- $749,900
On the house front alone, this is probably the best value you can find for the average home price in Canada. Located in West St. Paul (a municipality just outside Winnipeg), this 1,650 square foot home offers 4 bedrooms and 3 bathrooms, a chef’s kitchen, and built-in speakers. Of course, we wouldn’t expect anything less from something that was only built last year.
We didn’t think Toronto’s real estate market would be even more competitive than Vancouver’s, but here we are. That said, this 12th floor condo for sale does offer a bunch of natural light, an open floor plan, and 1 full bedroom plus an office/den with a balcony.
Much like in BC, we searched high and low for a waterfront property, and we found one! Located deep in Port Bruce, this property features 1,400 square feet of space spread across two floors! There’s also already a dock built for you to park your sailboat ahead on a summer on the lake.
In contrast, this might be the best option for inner-city living on this list. Located in the very desirable Le Plateau neighbourhood, the 2-storey townhouse offers 1,090 square feet of living space with 2 bedrooms and 2.5 bathrooms. Plus, you’ve got a park right in front of it!
Our last property on this list is the cheapest but is maybe our personal favourite. An hour outside of Halifax, this waterfront home offers 2,300 square feet of living space in a serene coastal setting. What’s more, you’re just a short drive away from the money pit, so who knows, maybe you can pay off the mortgage in no time! (Don’t actually go trying to find gold in the money pit, please).
Well, there you have it! A coast to coast roundup of just what you can get for the price of an average home in Canada. We’ve learned two things writing this list for you- there’s a ton of variety out there, but boy oh boy, is our country’s housing market looking zany right now as well.