Ever thought of moving across the country to live a more affordable lifestyle?
From coast to coast to coast, the variation in home prices can cause some real estate speculators to drool with excitement. As of October, average prices across the country’s major cities vary from a low of $159,325 in Fredericton, New Brunswick to a high of $891,705 in Vancouver, B.C.
There are obvious factors that separate a city like Fredericton from one like Vancouver, but for those wondering just how much they pay for location, a side-by-side comparison of what’s for sale shows a striking contrast.
To showcase Canada’s unmistakable differences in real estate value, we looked at what you can get for $1 million in 16 major cities in almost every province and territory.
From a run-down home ready for demolition in a south Vancouver neighbourhood to a stunning and large lake-front home in Halifax, you might be surprised at how far $1 million takes you.
Check out the listings below for the complete picture:
Victoria
Average home price: $616,066
What you get for $1 million:
With the asking price of $988,000, this five-bedroom home in James Bay offers 3,000 square feet of living space and a cute, colourful exterior.
Vancouver
Average home price: $891,705
What you get for $1 million:
This home in the Sunset neighbourhood in South Vancouver is listed at $999,000. It comes with very brightly-painted rooms, a wood-burning fireplace, and a grassy backyard.
Calgary
Average home price: $450,297
What you get for $1 million:
This nicely renovated home listed at $1.1 million in Kelvin Grove features expansive lawns and a modern but homey interior. It has a 13,530 square-foot lot and top-of-the-line appliances.
Edmonton
Average home price: $364,004
What you get for $1 million:
This 10-year-old house in Edmonton’s River Valley is listed at $1,098,000. It has three bedrooms and five bathrooms and backs onto a ravine.
Regina
Average home price: $291,741
What you get for $1 million:
Listed at $1.15 million, this 1982 house has a tropical indoor pool and a renovated kitchen, along with six bedrooms and five bathrooms.
Saskatoon
Average home price: $332,144
What you get for $1 million:
This home on an expansive 10-acre lot has a lot of land. Listed at $999,000, it’s close to the heart of Saskatoon but far enough away for some tranquility.
Winnipeg
Average home price: $279,421
What you get for $1 million:
This brand new home is built right on the banks of the Assiniboine River in Charleswood, Winnipeg. At $999,999, it’s the price of a roomy condo in Vancouver.
Toronto
Average home price: $762,975
What you get for $1 million:
This renovated home is listed for just under $1 million at $998,000. Located in South Riverdale, it has three bedrooms with a separate two bedroom suite.
Ottawa
Average home price: $366,639
What you get for $1 million:
A brand new modern home? That’s what you can get in Ottawa for $998,800. It’s located in the Westboro neighbourhood and has three bedrooms in over 2,300 square feet of living space.
Montreal
Average home price: $354,600
What you get for $1 million:
There are heaps of very affordable homes in the Montreal area. This one in Westmount is a 1903-era brownstone with three bedrooms. It’s listed at $1,099,000.
Quebec City
Average home price: $269,925
What you get for $1 million:
This home is the oldest on our list, but you wouldn’t know from the inside. Built in 1848, the four-level home in central Quebec City has three bedrooms and four bathrooms and was completely updated in 2010. With a rooftop deck and several terraces, it’s listed at only $960,000.
Fredericton
Average home price: $159,325
What you get for $1 million: There isn’t much in Fredericton in the $1 million area. This heritage house, at $1,150,000, is the priciest pad on the market in the city and sits on 3.7 acres. It’s updated and features English gardens.
Halifax
Average home price: $279,611
What you get for $1 million:
Waterfront living just across the bridge from Halifax, in Dartmouth. Listed at $974,900, this renovated home on Lake Banook is over 5,500 square feet and has four bedrooms and five bathrooms.
St. John’s
Average home price: $292,580
What you get for $1 million:
This home built in 2011 has five bedrooms and four bathrooms. It is listed for $929,000 and is close to Virginia Lake in east St. John’s.
Yukon
Average home price: $313,723
What you get for $1 million: While there wasn’t anything for sale in the $1 million range in the Yukon, this craftsman-built log home on 15 acres of land in Whitehorse is listed for $1.2 million.
Northwest Territories
Average home price: $308,310
What you get for $1 million: With nothing listed near $1 million in the territory, this home in Yellowknife will have to do. It’s for sale for $850,000 and features two bedrooms, an unfinished basement, and a huge walk-in closet.
Average home prices for October 2016 as listed by the Canadian Real Estate Association. Editor’s note: Average prices are not the best way to calculate home prices in a given area. Properties on the very high end of the scale can cause the average price to increase out of line with typical properties.
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