Real Estate and Housing Prices in Canada

Welcome to CartoVista’s interactive map where we showcase active house prices in major real estate hotspots across Canada. By aggregating the most current data weekly from Zillow, this map provides an accurate and comprehensive snapshot of the current housing markets in four major Canadian cities: Toronto, Vancouver, Ottawa, and Calgary. 

Explore the full Story Map below!

Real Estate In Canada: The Current Outlook

Over recent years, the market has experienced substantial growth, characterized by soaring prices, particularly in major urban centers like Toronto and Vancouver. This surge has posed challenges for prospective homebuyers, contributing to affordability issues and concerns about a potential housing bubble. Various factors, including low mortgage rates, population growth, foreign investment, and limited housing supply, have fueled this upward trend. 

Let’s have a look at the trends across each city.

Real Estate in Toronto

Toronto real estate map

The first slide of our map visualizes active houses for sale in Toronto, Ontario. Toronto has Canada’s largest real estate market with property prices consistently rising and demand for housing continually increasing. Its real estate market is characterized by a competitive landscape, with bidding wars becoming a common scenario, especially in desirable neighborhoods. The surge in demand, driven by both local and international buyers, has led to a substantial increase in property values.

However, the rising prices also pose affordability challenges for first-time homebuyers and middle-income families, prompting a shift towards condominium living and suburban areas where prices are relatively more manageable.

Most Expensive Areas In Toronto

  1. Bridle Path-Sunnybrook-York Mills: Often referred to as “Millionaires’ Row,” this neighborhood is known for its large estates, luxurious amenities, and privacy, attracting celebrities and business moguls.

  2. Forest Hill South: With its historic homes, prestigious schools, and exclusive shopping districts, Forest Hill South is a highly sought-after residential area.

  3. Rosedale-Moore Park: Characterized by its heritage homes and lush landscapes, Rosedale is a top choice for those seeking luxury in a central location.

Least Expensive Areas In Toronto

  1. Jane and Finch: This area is known for its more affordable housing market, catering to first-time homebuyers and investors looking for value.

  2. Scarborough Village: This neighborhood provides affordable housing options compared to the city’s average, including condos, townhouses, and detached homes.

  3. Rexdale-Kipling: Offering a range of residential properties at lower price points, Rexdale-Kipling is considered a more affordable option in Toronto.

Toronto’s real estate market is continuously evolving, with new residential developments aiming to accommodate the growing population. However, the supply of housing struggles to keep pace with demand, contributing to the upward pressure on prices. The government and developers are focusing on high-density solutions, such as condos and townhouses, to maximize land use in urban areas. Additionally, there’s a push towards revitalizing older neighborhoods and converting commercial properties into residential spaces to increase the housing stock.

Real Estate in Vancouver

vancouver real estate map

The second slide of our map visualizes active house for sales in Vancouver, British Columbia. Vancouver has Canada’s most expensive real estate market with property prices. The average house price in Vancouver is approximately $1.25 million as of January 2024. Vancouver’s high real estate prices are influenced by several key factors. The city’s natural beauty, surrounded by mountains and water, limited land for development, and a desirable climate make it a coveted location to live. Furthermore, Vancouver has become a hotspot for international investors, which has significantly driven up demand and, consequently, prices.

The high cost of living in Vancouver poses challenges for many residents, impacting affordability and accessibility to the housing market. However, for investors and buyers with the means, the city offers a stable and lucrative real estate market with potential for significant appreciation.

Most Expensive Areas In Vancouver

  1. West Vancouver: Known for its luxurious properties with breathtaking views of the ocean and mountains. West Vancouver is one of the most prestigious and expensive areas, offering exclusive amenities and privacy.

  2. Shaughnessy: This neighborhood is synonymous with opulence, featuring large estates, historic homes, and meticulously landscaped gardens. It’s a highly sought-after area for its tranquility and grandeur.

  3. Kitsilano: With its prime location near the beach, vibrant retail and dining scene, and high-quality lifestyle, Kitsilano commands high property prices. It’s popular among professionals and families alike.

Least Expensive Areas In Vancouver

  1. East Vancouver: Areas like Renfrew-Collingwood and Hastings-Sunrise in East Vancouver offer more affordable housing options compared to the rest of the city. These neighborhoods are diverse, with a mix of residential, commercial, and industrial areas.

  2. Marpole: Located in South Vancouver, Marpole is a neighborhood with a variety of housing types, from older detached homes to newer condos and townhouses, at relatively lower price points.

  3. Fraser East: Offering a balance of affordability and community amenities, Fraser East is becoming increasingly popular among first-time homebuyers and young families looking for value in the Vancouver market.

Real Estate in Ottawa

ottawa real estate map

Ottawa, the nation’s capital, retains a stable real estate market with house prices around the national average. The average house price in Ottawa is approximately $637,722 as of January 2024, which remained around the same as previous years, making it one of the more affordable major city for real estate in Canada. This stability makes Ottawa an attractive option for both first-time homebuyers and investors looking for long-term value.

In recent years, there has been a noticeable trend towards mixed-use developments, combining residential, commercial, and retail spaces, particularly in areas close to transit hubs. These developments cater to a growing demand for walkable communities and urban living, appealing to both young professionals and downsizers. However, like many cities, Ottawa faces challenges around housing affordability, particularly for low to middle-income families.

Most Expensive Areas In Ottawa

  1. Rockcliffe Park: Known for its large, luxurious homes and expansive lots, Rockcliffe Park is one of Ottawa’s most prestigious neighborhoods. It’s home to diplomats, politicians, and high-ranking officials, offering privacy and exclusivity.

  2. Westboro/Wellington Village: These adjacent neighborhoods are highly sought after for their vibrant street life, boutique shops, and dining options, combined with close proximity to the Ottawa River and recreational pathways.

  3. The Glebe: Offering a mix of historic and modern homes, The Glebe is prized for its community atmosphere, proximity to downtown, and access to amenities like Lansdowne Park and the Rideau Canal.

Least Expensive Areas In Ottawa

  1. Vanier: Traditionally one of the more affordable areas of Ottawa, Vanier is experiencing a period of revitalization and gentrification, offering more affordable housing options close to the city center.

  2. Herongate: This neighborhood is known for its diversity and offers some of the more affordable housing options in Ottawa, including townhouses and apartment complexes.

  3. Overbrook: Close to Vanier, Overbrook offers affordability and proximity to downtown, with a mix of older homes and new developments, appealing to buyers looking for value within close reach of urban amenities.

Real Estate in Calgary

calgary real estate map

The final slide of our map visualizes active houses for sale in Calgary. The city is an emerging real estate market with house prices and demands increasing above the national average. The average house price in Calgary is approximately $569,361 as of January 2024, which is an increase of about 11.1% from 2023. As one of Canada’s fastest-growing real estate markets, Calgary’s upward trajectory in house prices and demand is a reflection of its burgeoning economy and attractive lifestyle. The city’s population growth, supported by its reputation for a high quality of life, low taxes, and proximity to the Rocky Mountains, further amplifies this demand.

The market’s 11.1% increase in average house prices from 2023 underscores the competitive nature of Calgary’s real estate landscape. This growth is not uniform across all neighborhoods, with areas close to the city center and those offering unique lifestyle attributes, such as proximity to parks or key amenities, experiencing higher demand and price appreciation.

Despite the rapid price increases, Calgary remains relatively affordable compared to other major Canadian cities like Toronto and Vancouver. This affordability, coupled with the city’s economic opportunities and lifestyle appeal, positions Calgary as an attractive option for both first-time homebuyers and investors looking to maximize their real estate investments.

Most Expensive Areas In Calgary

  1. Mount Royal: Often regarded as one of Calgary’s most prestigious residential areas, Mount Royal boasts large, luxurious homes with expansive lots. The neighborhood is known for its historic properties and close proximity to the downtown core and various upscale amenities.

  2. Aspen Woods: Situated on the western edge of the city, Aspen Woods is popular for its spacious, high-end homes, modern communities, and excellent schools. Its location offers beautiful views of the Rocky Mountains, attracting affluent families and professionals.

  3. West Hillhurst: This upscale area close to the city center offers a mix of charming older homes and new, custom-built properties. West Hillhurst is desirable for its proximity to the Bow River, downtown Calgary, and numerous recreational facilities.

Least Expensive Areas In Calgary

  1. Forest Lawn: This is one of the more affordable areas in Calgary, offering a diverse community and reasonably priced housing options, including single-family homes, townhouses, and condos.

  2. Penbrooke Meadows: Located in the southeast part of the city, Penbrooke Meadows is known for its affordability, offering a variety of single-family homes and apartments that are among the most budget-friendly in Calgary.

  3. Falconridge: Situated in the northeast, Falconridge is a diverse community with a variety of affordable homes, making it an attractive option for families and individuals looking for value in the real estate market.

A Final Word

We hope you’ve found CartoVista’s real estate map engaging and useful. As Canada’s real estate scene continues to evolve, it’s important to stay up-to-date and have the most detailed information to make informed property decisions. This map also serves as a great use case for organizations in the real estate industry. If you’re looking for a tool that can help you easily visualize your data, CartoVista’s mapping software is a great place to start. Try it for free today!

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