Real Estate Statistics in Canada

After several years of rapid price growth, property prices in Canada reached record highs in 2022 before entering a period of stabilisation. Since then, prices have cooled in many parts of the country, especially in the most expensive markets, while other areas have continued to see growth driven by strong demand and limited supply.

In this article, we explore the latest real estate statistics across Canada, examine regional housing market trends, and look ahead at what is expected to happen to property prices in 2026.

Real Estate Statistics for Canadians

• By 2025, the average house price in Canada rose modestly compared to 2024, reflecting a slower year-on-year growth.
• Saskatchewan remained the province with the lowest average house prices in 2025, while British Columbia continued to be the most expensive housing market in Canada.
• Toronto, Ontario, and Vancouver, British Columbia continued to rank as the most expensive real estate markets in Canada in 2025.
• Trois-Rivières and Saguenay in Quebec, and Saint John, New Brunswick, remained among the most affordable cities for homes in Canada in 2025.
• Alberta continued to record some of the strongest price growth in Canada in 2025.

Real Estate Terms

Before we get into the statistics, there are some terms we will refer to throughout the article, that some people might not be familiar with. These terms are explained below.

Median Price: This is the price in the middle when all the property sales from a given period have been arranged from the lowest to the highest. Half of the properties during that period will have sold for less and the other half for more the the median price.

Average Price: We get the average price by adding together all the sales and then dividing the number by the total amount of sales. The average price is not always the most accurate measure since, for example, just one or two very expensive house sales will raise the average price.

Benchmark Price: This can be considered a typical sale price for a type of property in an area because the price is based on criteria that are commonly found in similar properties within the area. Estate agents use benchmark prices when predicting a sales price for a property.

MLS: An abbreviation for the Multiple Listings Service. It is a database that lists properties for sale in a given area and is used by real estate agents to find properties for potential buyers and to guide purchase offer negotiations. It is recognized as the most reliable and comprehensive data on real estate in Canada.

HPI: The Home Price Index is provided by the MLS and provides a clearer picture of market trends than median or average prices. It takes into account the type of homes sold and measures the rate of house price changes over time.

The average house price in Canada

House prices in Canada reached an all-time high in February 2022 when the average home price was $816,720. Based on data from WOWA Canada and CREA, prices fell through 2023 before stabilising. By the end of 2025, forecasts from CREA and major financial institutions suggest the national average home price is likely to sit between $690,000 and $710,000, reflecting moderate growth driven by population increases, easing interest rates, and ongoing housing supply constraints rather than a return to pandemic-era price surges.

However, the national average house price is often skewed because of the large and expensive markets in places such as the Greater Toronto Area and Greater Vancouver, which also have the most active markets in Canada. Excluding these regions, average prices are expected to remain more than $100,000 lower by the end of 2025, underlining regional affordability differences across the country.

What are the average house prices across the different provinces and territories?

The average price varies greatly across Canada from under £300,000 in the cheapest provinces to close to a million dollars in the most expensive provinces.

We have listed the average prices in the Canadian provinces and territories for late 2025 in the table below.

Province/Territory	Average price
Newfoundland & Labrador	$365,000
Saskatchewan	$330,000
New Brunswick	$355,000
Manitoba	$360,000
Prince Edward Island	$430,000
Nova Scotia	$465,000
Northwest Territories	$445,000
Alberta	$545,000
Quebec	$525,000
Yukon	$620,000
Ontario	$865,000
British Columbia	$985,000

The cities with the most expensive real estate

Since British Columbia and Ontario have the most expensive real estate among the provinces and territories, it is not surprising to find the priciest cities located in these two provinces. By mid-to-late 2025, the average home price in Vancouver was around $1.20–$1.22 million, while Toronto’s average sat at approximately $1.10–$1.12 million, reflecting modest year-on-year growth rather than a return to the 2022 peak.

Victoria is close to the one-million-dollar mark at roughly $980,000–$1.0 million, while Hamilton hovers just above or around $1 million, supported by limited supply and sustained demand from buyers priced out of the Greater Toronto Area.

Historically, prices have been pushed up by a persistent lack of supply relative to demand. While many municipalities are accelerating housing construction and densification projects, supply constraints, population growth, and interprovincial migration mean that price growth in Canada’s most expensive cities has slowed but not reversed in 2025.

The cities with the cheapest real estate

It is still possible to find relatively affordable real estate in Canada if you are willing to look beyond the most competitive urban markets. As of 2025, data from listing platforms such as Point2Homes and regional real estate boards show that Saint John, New Brunswick; Trois-Rivières, Quebec; and Saguenay, Quebec are among the most affordable property markets in the country.

In Trois-Rivières, the average home price has risen but remains comparatively low at around $190,000–$200,000 in 2025. In Saguenay, average prices are now closer to $240,000–$250,000, reflecting steady but moderate growth driven by local demand rather than investor pressure. In Saint John, average home prices have increased more noticeably, with typical sales prices in 2025 sitting in the range of $330,000–$350,000, which is still well below the national average.

Despite price increases, these cities remain among the most affordable housing markets in Canada, especially when compared to major metropolitan areas in Ontario and British Columbia, and continue to attract buyers looking for lower entry prices and better affordability.

A closer look at real estate statistics in different parts of Canada

Ontario

In Ontario, average home prices stabilised through 2024 and into 2025 following earlier declines. By early 2025, prices were broadly flat year-on-year, with minor month-to-month fluctuations depending on region. Higher borrowing costs and affordability constraints have limited rapid price growth, particularly in the Greater Toronto Area.

Maritime Provinces

The Maritime provinces continued to outperform much of the country in 2025, although growth has moderated compared to the post-pandemic surge. New Brunswick and Nova Scotia both recorded average annual price increases in the range of 4–6%, while Prince Edward Island saw more modest growth of around 2–3%, reflecting easing demand and improved supply.

Newfoundland & Labrador

Newfoundland & Labrador remains one of the strongest-performing regions in relative terms. By 2025, average home prices had risen to around $360,000, representing continued year-on-year growth, although at a slower pace compared to 2023–2024. Monthly price increases became less pronounced in 2025, suggesting a gradual move towards a more balanced market.

The Prairie Provinces

The Prairie provinces remained among the fastest-growing housing markets in Canada in 2025. Alberta continued to lead, supported by strong interprovincial migration and employment growth. In 2025, the average prices were up by roughly 7–9% year-on-year. Saskatchewan and Manitoba also saw steady gains, though at more moderate rates compared to  Alberta.

British Columbia

In British Columbia, average home prices showed limited recovery in 2025 after declining in 2023 and early 2024. By 2025, prices were broadly flat to slightly higher year-on-year, with affordability pressures and lower sales volumes continuing to weigh on the market, especially in Metro Vancouver.

Quebec

Quebec’s housing market remained relatively resilient in 2025. Average prices rose by around 3–4% year-on-year. While short-term monthly declines were observed in some months, overall price levels continued to trend upward. Price increases were supported by steady demand and comparatively lower price points than in Ontario and British Columbia.

The Territories

Both Yukon and the Northwest Territories continued to see year-on-year price growth in 2025, although at a slower pace. In Yukon, average home prices in Whitehorse remain above $700,000, while the Northwest Territories recorded single-digit annual growth. There is no consistent public data available for Nunavut, making comparisons difficult.

What is predicted to happen to real estate in Canada in 2026?

Looking ahead to 2026, most housing market forecasts point to moderate and uneven growth. Industry bodies such as CREA and major banks expect national home sales to continue recovering with interest rates stabilising, Sales volumes are forecast to see a modest rise year-on-year rather than a surge.

Average home prices are expected to increase by around 3–5% in 2026, assuming there are no major economic shocks. This would mean the national average home price will be roughly $720,000 to $740,000, depending on regional performances. Growth is expected to be strongest in the more affordable markets, such as the Prairies and Atlantic Canada, while Ontario and British Columbia are likely to see slower growth.