Dream home or one-bedroom condo? What will $700,000 buy you in housing markets across Canada

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Home prices in Calgary have been rising, making it harder and harder to obtain the dream of homeownership. 

The average sale price for a home in Calgary in April was $499,505, while the average price in Canada was much higher, at $703,446 according to the latest Canadian Housing Market report.

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We took to Realtor.ca to see what Canada’s average housing price can get you in major cities across the country.

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Which city would you like to buy a house in? Take a look and share your thoughts in the comments section below.


Vancouver, B.C. – $699,900

For this price, you could get a two-bedroom, one-bathroom apartment in downtown Vancouver with 668-square feet of air-conditioned living space.

Vancouver
Realtor.ca lists this downtown Vancouver apartment, describing it as “steps away from shops, restaurants and public transportation! This spacious 2 bedroom 1 bathroom offers 9´ ceilings, storage LOCKER and Central A/C for optimal comfort year-round. This is an Airbnb friendly building with fantastic amenities including guest suites, fitness centre, entertainment lounge, steam/sauna and outdoor terrace with BBQs.” Photo by Realtor.ca

Edmonton, Alberta – $699,980

In Alberta’s capital city, you can get a four-bedroom, three-bathroom home with 2573 square feet of living space in a new development.

Edmonton
Realtor.ca lists this home in Edmonton, writing: “This brand new custom built 2 story home located in a upscale new area of the Kin at Schonsee located close to all amenities. Fabulous floor plan loaded engineered hardwood, ceramic tile, quartz, and an abundance of windows. This home has an open concept in the family room and 9 ft main floor ceilings.” Photo by Realtor.ca

Calgary, Alberta – $699,900

In one of the hottest real estate markets in Canada, you can get a three-bedroom, three-bathroom home with 2150 square feet of living space in the southeast community of New Brighton.

Calgary
Realtor.ca lists this Calgary home, advertising: “This property offers an inviting blend of style and functionality, perfect for modern family living. As you step through the entrance, you’ll immediately appreciate the high 9-foot ceilings on the main floor, creating a spacious and airy atmosphere.” Photo by realtor.ca

Regina, Saskatchewan – $699,000

In this Saskatchewan city, the average Canadian housing price could get you a five-bedroom, three-bathroom home with 1681 square feet of living space.

Regina
Realtor.ca lists this Regina house, advertising: “This bilevel home has an impressive entrance that leads to a spacious open-concept living room, dining area, and kitchen with vaulted ceilings throughout the main level. The custom kitchen features granite countertops, a large island, ample cabinets, under-counter lighting, glass backsplash, built-in microwave, and stainless steel appliances.” Photo by Realtor.ca

Winnipeg, Manitoba – $699,950

In Manitoba’s largest city, for just under $700,000, you could purchase a four-bedroom, three-bathroom home with 1859 square feet of living space and an oversized garage.

Winnipeg
Realtor.ca lists this Winnipeg home, advertising: “This beautiful 4 bedroom, 3 bath home situated on a park lot features an oversized garage, side entry to lower level, main floor bedroom connected to a full bath, a luxurious spice kitchen with a gas range, stunning laminam countertops, Luxury Vinyl Plank Flooring, 2nd floor laundry and an abundance of natural light with the great room open to below.” Photo by Realtor.ca

Toronto, Ontario – $700,000

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In Canada’s most populous city, you can get a one-bedroom, one-bathroom condo with an unlisted amount of square feet and no parking spot.

Toronto
Realtor.ca lists this Toronto condo, advertising: “This 1 bed & 1 bath condo in the Heart of the Entertainment & Financial District, offering a vibrant & convenient city living experience. Open concept layout, tons of natural light, private W/O balcony with city views. Amenities, Indoor Pool, Hot tub & Sauna, Fitness gym, Lounge area, Outdoor Terrace with BBQ area, Visitor parking, and 24-hour Concierge.” Photo by Realtor.ca

Halifax, NS – $699,900

In the heart of the Maritimes, you can get a 4-bedroom, 2.5-bathroom home with 1998 square feet of living space.

Halifax
Realtor.ca lists this Bedford home, advertising: “This stunning 4-bedroom, 2.5-bath home is located in one of Rockingham/ Bedford’s most highly sought-after neighborhoods. As you enter the home, you will immediately notice the elegance and warmth of the hardwood flooring throughout. The heated foyer welcomes you with its cozy ambiance, making you feel right at home.” Photo by Realtor.ca

Saint John, New Brunswick – $699,900

In New Brunswick, your $700,000 seemingly goes the furthest, with this massive four-bedroom, five-bathroom home with 3,550 square feet of living space boasting water views.

Saint John
Realtor.ca lists this Saint John home, advertising: “Realtor.ca description: This estate-like home is solid and poised with its Saint John River water views red brick exterior, grand white pillar entry and exclusive cul-de-sac positioning. All of which present this larger family home as elegant as the royal blue river views that surround. Attractive gardens and a hedge of boxwoods line the front brick walkway where you enter the home to a broad foyer.” Photo by Realtor.ca

We know the rising costs of groceries, mortgages, rents and power are important issues for so many Calgarians trying to provide for their families. In our special series Squeezed: Navigating Calgary’s high cost of living, we take a deep look into the affordability crisis in Calgary. We’ve crunched numbers, combed through reports and talked to experts to find out how inflation is impacting our city, and what is being done to bring prices back to earth. But, most importantly, we spoke to real families who shared their stories and struggles with us. We hope you will join the conversation as these stories roll out.

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This week: Priced Out: The Rising Cost of Housing

Still to come: 

  • June 3 to 4: The Cost of Doing Business

Our series so far:


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