Canada's national average home price in 2025 sits at approximately $680,000 (CREA seasonally-adjusted), down from the pandemic peak of $816,720 in February 2022 but well above pre-pandemic levels (~$500,000 in 2019). This guide breaks down average house prices by province and major city.
Average House Prices by Province — Canada 2025
| Province | Avg Home Price | vs National Avg | YoY Change |
|---|---|---|---|
| British Columbia | $970,000 | +43% | +2.1% |
| Ontario | $880,000 | +29% | +1.4% |
| Prince Edward Island | $370,000 | –46% | –1.2% |
| Nova Scotia | $440,000 | –35% | +0.8% |
| New Brunswick | $310,000 | –54% | +3.2% |
| Quebec | $490,000 | –28% | +3.8% |
| Alberta | $530,000 | –22% | +8.2% |
| Saskatchewan | $340,000 | –50% | +4.1% |
| Manitoba | $375,000 | –45% | +3.6% |
| Newfoundland & Labrador | $310,000 | –54% | +5.2% |
| Canada (national avg) | $680,000 | – | +2.8% |
Average House Prices by Major City — Canada 2025
| City | Avg Home Price | Detached | Condo/Strata |
|---|---|---|---|
| Vancouver, BC | $1,400,000 | $1,950,000 | $780,000 |
| Victoria, BC | $900,000 | $1,200,000 | $550,000 |
| Toronto, ON | $1,100,000 | $1,450,000 | $650,000 |
| Ottawa, ON | $565,000 | $680,000 | $400,000 |
| Hamilton, ON | $720,000 | $820,000 | $490,000 |
| Montreal, QC | $575,000 | $700,000 | $430,000 |
| Calgary, AB | $630,000 | $750,000 | $330,000 |
| Edmonton, AB | $450,000 | $530,000 | $195,000 |
| Winnipeg, MB | $375,000 | $430,000 | $215,000 |
| Halifax, NS | $450,000 | $520,000 | $310,000 |
What's Happening to Canadian House Prices in 2025?
After the sharp correction of 2022–2023 (national prices fell ~18% peak-to-trough), Canadian home prices stabilized in 2024 and began a modest recovery in early 2025. The Bank of Canada cut interest rates five times between June 2024 and January 2025, bringing the overnight rate from 5.0% to approximately 3.25%. Lower rates have re-ignited demand, particularly in Alberta (Calgary up 8%+ year-over-year) and Atlantic Canada.
Ontario and BC markets remain soft relative to their peaks due to affordability exhaustion at current income levels. First-time buyers still face the stress test at 5.25% minimum qualifying rate.
Canadian Mortgage Rates 2025
| Mortgage Type | Rate (approx.) | Note |
|---|---|---|
| 5-year fixed (insured) | 4.49–4.89% | Lowest available with 20%+ down |
| 5-year fixed (high-ratio) | 4.29–4.69% | <20% down, CMHC-insured |
| Variable rate (prime-0.7%) | ~5.05% | Prime rate currently 5.45% (Mar 2025) |
| 3-year fixed | 4.59–4.99% | Mid-term option |
CMHC Mortgage Insurance Premiums 2025
If your down payment is less than 20%, you must purchase CMHC (or Sagen/Canada Guaranty) mortgage insurance. Premiums are added to your mortgage balance:
| Down Payment | Premium Rate | Premium on $500K mortgage |
|---|---|---|
| 5–9.99% | 4.00% | $20,000 |
| 10–14.99% | 3.10% | $15,500 |
| 15–19.99% | 2.80% | $14,000 |
| 20%+ | 0.00% | $0 |
See our guides: Ontario house prices 2025, BC house prices 2025, Alberta house prices 2025, and our Rent vs Buy Calculator.
FAQ — Average House Price Canada 2025
What is the average house price in Canada in 2025?
Approximately $680,000 nationally (CREA benchmark, seasonally adjusted), with significant variation by province — from $310K in New Brunswick to $970K in BC.
What is the cheapest province to buy a house in Canada?
Newfoundland & Labrador and New Brunswick both average around $310,000. Saskatchewan is also affordable at ~$340,000.
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