The latest data from the Canadian Real Estate Association (CREA) shows that average home prices in Canada took a slight dip in April compared to one month ago. The organization reported that the average price of all residential property types in Canada was $796,068 in March before dropping to $746,146 in April, with price levels not seasonally adjusted.
Despite this, Canadians still spent more on home purchases in April 2022 than they did in April 2021, with major markets across the country seeing notable increases in average home prices year-over-over.
Some regions, such as St. John’s, N.L., reported a moderate growth in the cost of a home; MLS benchmark prices compiled by the CREA showed that the price of a typical home in the city was about $268,000 in April 2021 before rising to $296,200 exactly one year later. Meanwhile, the average price of a home in the Greater Toronto Area, for example, came in at $1.35 million in April 2022, up from about $1.03 million just one year prior.
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MLS home price index benchmark prices represent the value of a typical home in different Canadian neighbourhoods. Figures take into account different types of residential housing, and are not seasonally adjusted.
CTVNews.ca has gathered a number of properties that are listed at what is considered the average price of a home in their respective regions. With properties in cities ranging from Kelowna to Moncton, these listings represent the price of a typical home in major Canadian markets.
GREATER VANCOUVER
Type: Apartment
Price: $1,375,000
Year Built: 2006
Property Size: 94.48 sq. m
Lot Size: N/A
This unique loft is located in Vancouver’s Yaletown neighbourhood, and includes two levels under 17-foot ceilings. Exposed concrete walls and floor-to-ceiling windows give this apartment unit its flair, with a design inspired by the high-end condominiums in New York’s Tribeca neighbourhood. The property also features a modern, European-style kitchen with marble countertops and backsplash, as well as upgraded grey oak floors throughout.
INTERIOR B.C.
Type: House
Price: $799,900
Year Built: 2003
Property Size: 182.55 sq. m
Lot Size: under 0.4 hectares
With four bedrooms and two bathrooms, this single-storey home in west Kelowna has an open concept living area, complete with richly-coloured hardwood flooring and vaulted ceilings. The lower level is ideal for entertaining, with a multi-purpose recreation room, while the backyard deck offers views of the mountains nearby. The property is just a short walk away from schools and several hiking trails.
CALGARY
Type: Apartment
Price: $525,000
Year Built: 1911
Property Size: 93.37 sq. m
Lot Size: N/A
Two exposed brick walls give this top-floor loft in downtown Calgary its industrial style. Contrasting the textured brick walls are sanded wood floors, found throughout most of the unit’s 93 square metres. The kitchen includes stainless steel appliances and an island countertop made of stone, while the bedroom has a walk-in closet and provides easy access to a four-piece ensuite bathroom.
SASKATOON
Type: House
Price: $349,000
Year Built: 1959
Property Size: 104.42 sq. m
Located in the Saskatoon neighbourhood of Sutherland, this 104-square-metre bungalow features a mid-century modern design, and its open-concept layout allows the kitchen area to flow into the living and dining rooms on the main floor. The lower level includes a bedroom, living room, and newly-renovated bathroom. In the backyard is a berry garden complete with goji berries, Saskatoon berries, and raspberries.
WINNIPEG
Type: Apartment
Price: $354,900
Year Built: 1912
Property Size: 93.55 sq. m
Lot Size: N/A
This two-bedroom, one-bathroom apartment mixes old-world charm with modern design, combining century-old wood beams and exposed brick with updated finishes. The unit, found in Winnipeg’s Exchange District, also has its own private rooftop patio overlooking the downtown skyline. Building amenities include a fitness facility and party room, while restaurants, public transportation, and the Waterfront are all located nearby.
GREATER TORONTO
Type: Apartment
Price: $1,347,500
Year Built: 2000
Property Size: 130 to 149 sq. m
Lot Size: N/A
This apartment in Toronto’s Candy Factory Lofts features an open-concept living space with 12-foot ceilings held up by Douglas fir posts. Natural light seeps in through the large, arched window to help brighten the exposed brick walls. Located in the city’s Queen West neighbourhood, the unit is within walking distance of Trinity Bellwoods Park, as well as a number of shops and restaurants.
OTTAWA
Type: House
Price: $724,922
Year Built: 2016
Property Size: 75 sq. m
Lot Size: 117.65 sq. m
Built in 2016, this three-storey Ottawa home comes with light hardwood floors throughout. On the main floor are a combined kitchen and living area, as well as a bathroom, while the top floor includes two spacious bedrooms, a bathroom and laundry area. The property also has its own private balcony, with the ability to install a barbecue, making it especially easy to entertain friends and family.
MONTREAL
Type: Apartment
Price: $595,000
Year Built: 2014
Property Size: 73.7 sq. m
Lot Size: N/A
Found in south Montreal, this condominium unit features two bathrooms and two bedrooms across 74 square metres of space. The crisp white walls contrast the rich wood flooring in this concrete building. Amenities include a swimming pool, gym and terrace with a panoramic view of downdown Montreal, and the unit is situated within walking distance of the city core.
GREATER MONCTON
Type: House
Price: $349,900
Year Built: 1961
Property Size: 173.01 sq. m
Lot Size: under 0.2 hectares
Located in the west end of Moncton, this 173-square-foot home with four levels is situated on a large corner lot. With an open layout on the main floor, the spacious living room flows directly into the kitchen. On the second floor are three bedrooms and a bathroom, while the basement level features a family room, kitchenette, and another bathroom. In the backyard is a deck, great for entertaining friends and family.
HALIFAX-DARTMOUTH
Type: House
Price: $524,900
Year Built: 2019
Property Size: 141.21 sq. m
Lot Size: under 0.2 hectares
Only a few years old, this rancher-style home in the Dartmouth community of Nova Scotia has two bedrooms and two bathrooms. Both bathrooms have full enclosure tubs with lights, as well as custom vanities and granite countertops. On the main floor, the kitchen features a walk-in pantry, granite countertops, and an open-concept layout, connecting to the living room area, which also leads to a private outdoor backyard.
PRINCE EDWARD ISLAND
Type: House
Price: $339,000
Year Built: mid-1980s
Property Size: 97.55 sq. m
Lot Size: 0.61 hectares
This home in Alberton, P.E.I. sits on a 0.61-hectare lot. Built in the mid-1980s, the two-storey property has since had a number of renovations done, most recently receiving a new vinyl and cedar exterior. The stairway and bannister, however, are original, and lead to a second level with an office area, a master bedroom with a walk-in closet, two additional bedrooms and a bathroom.
ST. JOHN’S
Type: House
Price: $299,900
Year Built: 2001
Property Size: 159 sq. m
Lot Size: under 0.2 hectares
Not far from the Memorial University of Newfoundland, shopping centres or the highway, this fully developed bungalow in St. John’s is complete with three bedrooms and two bathrooms. The lower level of this 159-square-metre home also includes a recreation room. The yard is entirely fenced off and landscaped, while a backyard shed offers additional storage space.
