You may be surprised to hear that home prices in Canada have been “trending downwards” for the past few months – leaving about 14 markets below the national average. While this may be hopeful news for future homeowners, that might mean, depending on where you live, you may have to make a move.

According to Real Estate website, Zoocasa there’s been a decline in home prices, just below the national average of $662,437, leaving only six markets above it.

One of the most affordable regions for home prices is Saint John, New Brunswick at $268,400.

“Impressively, Saint John has an $855,000 price difference with the most expensive region, Greater Vancouver,” according to Zoocasa.

Recent Posts
Here’s how Toronto transit prices compare to the rest of the world
Bill Nye is coming to Toronto this week & you can still get tickets

In second place for the most affordable city is Regina, Saskatchewan at $310,200, Quebec comes in third with a $5k difference – $315,200, and in fourth falls Winnipeg at an average home price of $329,900.

Though there have been year-over-year declines, some regions have seen a positive increase such as Calgary with a 1.8% increase, Saskatoon up 3.3%, and Halifax-Dartmouth up 3.4%.

“On the other hand, the largest year-over-year decrease in the average home price was seen in London and St. Thomas, at -25.1%. This drop helped keep the region under the national average, with an average home price of $583,500,” according to Zoocasa.

As for who topped the list, we’re not even surprised anymore – Greater Vancouver, Greater Toronto, and Fraser Valley placed at the top, in that order, surpassing the national average.

Here’s a breakdown:

British Columbia

Unfortunately for B.C., the average home price still sits well above the Canadian average. Greater Vancouver sits at $1,123,400, Fraser Valley at $946,700 and Victoria at $858,600


Edmonton is one of the lowest regions for home prices, with an average of $365,100 and Calgary at $518,100.


There are only four regions in Ontario with below-average home prices: Sudbury at $401,100, London and St. Thomas at $583.500, Ottawa at $613,000 and Niagara region at $627,500

Check out the full list below:

home prices canada
Photo via Zoocasa

Whether or not this is a sign for Canadian homeowners to finally be positive about the housing market, these numbers are looking great nonetheless – if you’re willing to move that is.