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Eighteen Canadian real estate markets with average prices below the national benchmark

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Eighteen Canadian real estate markets with average prices below the national benchmark

While housing affordability is an increasingly fantastical concept for many Canadians, a new Zoocasa report has highlighted the markets where the average home price remains below the national benchmark of $621,515.

Analyzing the latest data from the Canadian Real Estate Association, Zoocasa noted that the national average home price grew by 23% annually in January. Of the 25 regional housing markets that the report studied, only one market, Regina, had a decrease in its benchmark home price. Another 12 markets posted increases of more than 20%.

Zoocasa ranked the markets with sub-national benchmark home prices, as follows:

18: Regina, SK
Average Home Price: $273,885
Annual Price Growth: -3%

17: Edmonton, AB
Average Home Price: $375,874
Annual Price Growth: 5%

16: Saskatoon, SK
Average Home Price: $331,555
Annual Price Growth: 7%

15: Saint John, NB
Average Home Price: $199,853
Annual Price Growth: 8%

14: Saguenay, QC
Average Home Price: $206,242
Annual Price Growth: 10%

13: Winnipeg, MB
Average Home Price: $320,814
Annual Price Growth: 10%

12: Quebec, QC
Average Home Price: $313,811
Annual Price Growth: 14%

11: Calgary, AB
Average Home Price: $518,237
Annual Price Growth: 15%

10: Thunder Bay, ON
Average Home Price: $258,738
Annual Price Growth: 16%

9: Sherbrooke, QC
Average Home Price: $317,545
Annual Price Growth: 19%

8: Montreal, QC
Average Home Price: $516,350
Annual Price Growth: 20%

7: Gatineau, QC
Average Home Price: $338,679
Annual Price Growth: 21%

6: Trois Rivières, QC
Average Home Price: $225,694
Annual Price Growth: 24%

5: Ottawa, ON
Average Home Price: $591,413
Annual Price Growth: 26%

4: Halifax-Dartmouth, NS
Average Home Price: $433,000
Annual Price Growth: 31%

3: Windsor-Essex, ON
Average Home Price: $492,480
Annual Price Growth: 31%

2: Sudbury, ON
Average Home Price: $356,633
Annual Price Growth: 38%

1: London and St. Thomas, ON
Average Home Price: $608,049
Annual Price Growth: 41%

  • by Ephraim Vecina 22 Feb 2021
  • https://www.mortgagebrokernews.ca/news/eighteen-canadian-real-estate-markets-with-average-prices-below-the-national-benchmark-338005.aspx?utm_source=GA&utm_medium=20210222&utm_campaign=MBNW-Newsletter-20210222&utm_content=CAB225E9-A56E-4453-BA7A-30CBD695B619&tu=CAB225E9-A56E-4453-BA7A-30CBD695B619
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