Canada House Prices: What $350,000 Will Buy You In These Canadian Housing Markets

Canada House Prices

The Huffington Post Canada   Posted: 11/21/11 05:00 AM ET

Can't afford a house? Consider a move to St. John's Newfoundland, where the price of a Toronto condo will buy you a McMansion.

It's hardly a surprise that Canada's cities have large disparities in the cost of housing, but sometimes it's worth putting an issue into some perspective. As the median price of a house in Canada these days is just a bit more than $350,000, we decided to see what that amount would buy us across the country.

What we found was a nearly six-fold difference in real estate prices, per square foot, among Canada's urban markets. Put another way: For the same money, you can buy nearly six times as much real estate in St. John's or Trois-Rivieres, Quebec, than you can in Vancouver.

More at Mind The Gap: How Income Inequality Is Raising House Prices For All Of Us.. Why You Should Care About Income Inequality.. 1 In 5 Vancouver Homes Now Sell For More Than $1 Million.. Full Coverage..

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  • St. John's, Nfld. -- $125 Per Square Foot

    This four-bedroom, two-bathroom custom-built bungalow in St. John's West End neighbourhood boasts hardwood floors, a covered sundeck and an oversized yard. With an asking price of $349,900 and 2,750 square feet of livable space, this spacious home costs approximately $125 per square foot.

  • Trois Rivieres, Que. -- $127 Per Square Foot

    This five-bedroom, two-and-a-half bathroom house features a double-width garage and a heated inground pool. At approximately 2,750 square feet and an asking price of $349,900, it works out to around $127 per square foot.

  • Winnipeg -- $160 Per Square Foot

    This spacious split-level home in southeast Winnipeg features four bedrooms and three baths, a stone fireplace and a jazuzzi in the master bedroom. It sits on a 142-foot-long, pie-shaped lot. At 2,182 square feet and a $349,900 asking price, it works out to around $160 per square foot. <strong>CORRECTION:</strong> <em>An earlier version of this slide incorrectly listed the price-per-square foot as $600</em>.

  • Red Deer, Alta. -- $248 Per Square Foot

    This five-bedroom, three-bath home features vaulted ceilings, a fireplace and a massive walk-in closet in the master bedroom. At 1,408 square feet -- this average-sized house on the prairie works out to $248 per square foot.

  • Montreal -- $250 Per Square Foot

    This two-story townhouse condo just east of downtown Montreal features three bedrooms and two baths, cherry wood floors and a terrace. At 1,400 square feet and an asking price of $349,000, this condo works out to $250 per square foot.

  • Burlington, Ont. -- $388 Per Square Foot

    This cozy bungalow on the edges of the Greater Toronto Area features four bedrooms, two baths and a long, 175-foot lot. Highlights include a granite countertop and newly finished hardwood floors. At a snug 900 square feet, this house is going for $388 per square foot.

  • Toronto -- $499 Per Square Foot

    This one-bedroom, one-bath condo in Toronto's Entertainment District features a balcony with a southeast exposure. In a sure sign the condo is outfitted with just the basics, the unit's sellers boast of its "brand name appliances" and "frost free refrigerator." At 700 square feet (including the balcony), it works out to $499 per square foot.

  • Vancouver -- $688 Per Square Foot

    This one-bedroom, one-bathroom corner unit in Vancouver's Kitsilano neighbourhood "shows much larger than the square footage," the realtor boasts. That's good, because at 508 square feet, this place is only slightly larger than some of the bedrooms and living rooms available in similarly-priced houses in other markets. The condo boasts "gorgeous mountain views," but it'll cost you -- $688 per square foot.


Quick Poll

Is Canada's housing market in a bubble?

Yes. Prices are bound to come down sooner or later.

No. Canada's economy is strong and can support these price levels.

Don't know.

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Can't afford a house? Consider a move to St. John's Newfoundland, where the price of a Toronto condo will buy you a McMansion. It's hardly a surprise that Canada's cities have large disparities in ...
Can't afford a house? Consider a move to St. John's Newfoundland, where the price of a Toronto condo will buy you a McMansion. It's hardly a surprise that Canada's cities have large disparities in ...
 
 
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11:55 AM on 12/21/2011
In Canada's southermost city, I own a 3 bedroom, 3 bath, 2 fireplace, full brick & finished basement with brick garage, house on Riverside Drive, 180 degree view of the River & Detroit skyline, steps from both the University and downtown for $ 250,000.00. What's more is we have access to all that is Detroit. Pro Sports, major airport, plus world class theatre and art. NO traffic jams and a 5 mile commute to work. We're surrounded by waterfront and it's warmer. I'm a big fan of Windsor.
04:50 PM on 11/21/2011
I can't speak for other markets, but in Winnipeg, that "asking price" is a scam, as every real estate sale devolves into an impromptu auction. Dollars to donuts that ad for a $350k house had "offers taken until Sunday at 6pm, offers considered at Monday at noon" caveat. If that house went for under $400k I'll eat my shorts.
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Procrastamom
I'll update my bio tomorrow...
04:37 PM on 11/21/2011
I'm going to save this article and put it in front of my friends and relatives in the East who are always asking when we, who live near Vancouver, are finally going to buy a house. My standard answer has always been, "when we win the lottery." Now I'll reference this as my backup.
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HUFFPOST SUPER USER
o3mta3o
07:45 AM on 11/21/2011
i love how slide 8 "boasts gorgeous mountain views" as it looks out to the cheapest looking building i've ever seen.
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HUFFPOST SUPER USER
MsCanuck
Wife, Mother, New Democrat, Pro-Choice, Atheist
04:10 PM on 11/21/2011
Yes, Vancouver is the most beautiful city in Canada and that the view they put online?
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Procrastamom
I'll update my bio tomorrow...
04:29 PM on 11/21/2011
On a clear day you can probably see the mountains. But from October to about March? Not so much.