{"id":21480,"date":"2023-03-27T06:00:00","date_gmt":"2023-03-27T10:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=21480"},"modified":"2023-03-30T12:16:48","modified_gmt":"2023-03-30T16:16:48","slug":"below-average-home-prices-canada","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/","title":{"rendered":"Canadian Regions with Below Average Home Prices: View Homes for Sale"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">According to the <a href=\"https:\/\/www.zoocasa.com\/blog\/crea-feb-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">latest data<\/a> from the Canadian Real Estate Association (CREA), month-over-month home prices are inching upwards. Compared with record high prices seen in early 2022 however, current 2023 prices are quite low. Still, at $662,437, the average price of a home in Canada remains out of reach for many. As it\u2019s expected that activity will pick up in the coming spring market, potential homebuyers might be wondering where they can find an affordable home.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/rent-vs-mortgage-2023-canada\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>To Rent or to Buy? Average Monthly Rental Prices vs. Monthly Mortgage Payments<\/strong><\/a><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">To better understand where home buyers may find pockets of affordability, Zoocasa analyzed the average home price in 20 regions across Canada to understand how much the price fell below or above the national average price. We also curated a list of example homes in each market that sold within a $25,000 range of the average home price.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Average Home Price Below National Average in 14 out of 20 Regional Markets<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite small month-over-month price gains, home prices have been trending downwards for several months. This puts 14 markets below the national average of $662,437, and only 6 markets above that mark, giving potential home buyers glimmers of hope in many areas of the country.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With an average home price of $268,400, <a href=\"https:\/\/www.zoocasa.com\/saint-john-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saint John<\/a> is the most affordable region. Its annual change was also the lowest on our list, dropping only 0.1% from last year. Impressively, Saint John has an $855,000 price difference with the most expensive region, Greater Vancouver. The next most affordable city, <a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a>, comes out $41,800 higher at $310,200 with a year-over-year decrease of 2%.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Enjoying our content? Subscribe to our free<\/em><\/strong><a href=\"http:\/\/zoocasa.com\/newsletter\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><em> weekly newsletter<\/em><\/strong><\/a><strong><em> to get Canadian real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Notably, <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a>, <a href=\"https:\/\/www.zoocasa.com\/saskatoon-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saskatoon<\/a> and <a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Halifax-Dartmouth<\/a> were the only regions with positive year-over-year changes in home prices: Calgary was up 1.8%, Saskatoon was up 3.3% and Halifax-Dartmouth was up 3.4%. On the other hand, the largest year-over-year decrease in the average home price was seen in <a href=\"https:\/\/www.zoocasa.com\/london-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">London<\/a> and St. Thomas, at -25.1%. This drop helped keep the region under the national average, with an average home price of $583,500.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Not surprisingly, <a href=\"https:\/\/www.zoocasa.com\/vancouver-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Vancouver<\/a>, <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Toronto<\/a> and <a href=\"https:\/\/www.zoocasa.com\/fraser-valley-c-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Fraser Valley<\/a> topped the list with average home prices well above the national average. Greater Vancouver\u2019s average home price of $1,123,400 is nearly double the national average, while Greater Toronto\u2019s wasn\u2019t much cheaper either at $1,091,300.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Check out our infographic below highlighting the average home price in 20 regional housing markets across Canada, and where the average home price is above or below the national average. Further below find a sampling of home listings available in each region where the average home price is below the national average.&nbsp;<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1473\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5.png\" alt=\"\" class=\"wp-image-21499\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5-122x300.png 122w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5-417x1024.png 417w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5-768x1885.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5-626x1536.png 626w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Frame-73-5-834x2048.png 834w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Sample Listings in Canada\u2019s Most Affordable Regions<\/h2>\n\n\n\n<ol class=\"wp-block-list\"><li>Niagara Region<ul><li>Average Home Price: $627,500<\/li><li>Annual Price Change: -22.4%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/niagara-falls-on-real-estate\/4737-epworth-cir\" target=\"_blank\">4737 Epworth Circle<\/a><ul><li>List Price: $629,900<\/li><li>Property details:&nbsp;<ul><li>Detached<\/li><li>3 beds, 2 bath, 2 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Ottawa<ul><li>Average Home Price: $613,000<\/li><li>Annual Price Change: -13.9%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/ottawa-on-real-estate\/30-gray-cres\" target=\"_blank\">30 Gray Crescent<\/a><ul><li>List Price: $609,990<\/li><li>Property details:&nbsp;<ul><li>Row<\/li><li>3 beds, 3 baths, 3 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>London and St. Thomas<ul><li>Average Home Price: $583,500<\/li><li>Annual Price Change: -25.1%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/london-on-real-estate\/7-olympic-cres\" target=\"_blank\">7 Olympic Crescent<\/a><ul><li>List Price: $575,000<\/li><li>Property details:&nbsp;<ul><li>Detached<\/li><li>3 beds, 2 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Windsor-Essex<ul><li>Average Home Price: $565,400<\/li><li>Annual Price Change: -2.3%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/windsor-on-real-estate\/903-hall\" target=\"_blank\">903 Hall&nbsp;<\/a><ul><li>List Price: $549,990<\/li><li>Property details:&nbsp;<ul><li>Detached<\/li><li>4 beds, 3 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Calgary<ul><li>Average Home Price: $518,100<\/li><li>Annual Price Change: +1.8%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate\/302-covecreek-close-ne\" target=\"_blank\">302 Covecreek Close Ne<\/a><ul><li>List Price: $530,000<\/li><li>Property details:&nbsp;<ul><li>Detached<\/li><li>3 beds, 2 baths, 4 parking&nbsp;<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Halifax-Dartmouth<ul><li>Average Home Price: $484,000<\/li><li>Annual Price Change: +3.4%<\/li><li>What you could buy: <a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\/29-limardo-dr\">29 Limardo<\/a><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\/29-limardo-dr\" target=\"_blank\"> <\/a><a href=\"https:\/\/www.zoocasa.com\/halifax-ns-real-estate\/29-limardo-dr\">Drive<\/a><ul><li>List Price: $469,900<\/li><li>Property details:&nbsp;<ul><li>Detached<\/li><li>4 beds, 1 bath, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Sudbury<ul><li>Average Home Price: $401,100<\/li><li>Annual Price Change: -13.7%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/greater-sudbury-on-real-estate\/downtown\/345-ontario-st\" target=\"_blank\">345 Ontario Street<\/a><ul><li>List Price: $379,900<\/li><li>Property details:<ul><li>Single Family<\/li><li>3 beds, 3 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Saskatoon<ul><li>Average Home Price: $372,400<\/li><li>Annual Price Change: +3.3%<\/li><li>What you could buy: <a href=\"https:\/\/www.zoocasa.com\/saskatoon-sk-real-estate\/holiday-park\/1114-k-ave-s\">1114 K Avenue S<\/a><ul><li>List Price: $379,900<\/li><li>Property details:&nbsp;<ul><li>Single Family<\/li><li>3 beds, 2 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Edmonton<ul><li>Average Home Price: $365,100<\/li><li>Annual Price Change: -5.9%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/edmonton-ab-real-estate\/mccauley\/9316-109-ave-nw\" target=\"_blank\">9316 109 Av Nw<\/a><ul><li>List Price: $369,900<\/li><li>Property details:<ul><li>Semi-Detached<\/li><li>3 beds, 2 baths, 2 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Regina<ul><li>Average Home Price: $310,200<\/li><li>Annual Price Change: -2%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\/355-avon-dr\" target=\"_blank\">355 Avon Drive<\/a><ul><li>List Price: $299,990<\/li><li>Property details:&nbsp;<ul><li>Row<\/li><li>2 beds, 4 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li>Saint John<ul><li>Average Home Price: $268,400<\/li><li>Annual Price Change: -0.1%<\/li><li>What you could buy: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/saint-john-nb-real-estate\/197-prince-st\" target=\"_blank\">197 Prince Street<\/a><ul><li>List Price: $259,900<\/li><li>Property details:&nbsp;<ul><li>Single Family<\/li><li>3 beds, 2 baths, 0 parking<\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re looking to enter one of these markets, it\u2019s important to speak with a local realtor who can give you specific information and guidance about the local real estate market. <a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a> to get advice on your home buying journey.&nbsp;<\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Looking for your dream home?<\/div>\n<div class=\"cta-body\">Contact us today to speak to a Realtor in your area<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/sell-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest data from the Canadian Real Estate Association (CREA), month-over-month home prices are inching upwards. Compared with record high prices seen in early 2022 however, current 2023 prices are quite low. Still, at $662,437, the average price of a home in Canada remains out of reach for many. As it\u2019s expected that [&hellip;]<\/p>\n","protected":false},"author":132,"featured_media":21486,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[58,76,1111,1160],"tags":[],"class_list":["post-21480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability","category-buying-a-home","category-canada","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian Regions with Below Average Home Prices: View Homes for Sale | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"There are a variety of regions in Canada where the average home prices are below the national average. Here is a list of those areas and the houses that are for sale right now.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Regions with Below Average Home Prices: View Homes for Sale | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"There are a variety of regions in Canada where the average home prices are below the national average. Here is a list of those areas and the houses that are for sale right now.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-27T10:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T16:16:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Blog-x-Social-Images-13.png\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mackenzie Scibetta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2023\/03\/Blog-x-Social-Images-13.png\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mackenzie Scibetta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\"},\"author\":{\"name\":\"Mackenzie Scibetta\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/f94c43a0733031723a673cfb21916c34\"},\"headline\":\"Canadian Regions with Below Average Home Prices: View Homes for Sale\",\"datePublished\":\"2023-03-27T10:00:00+00:00\",\"dateModified\":\"2023-03-30T16:16:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\"},\"wordCount\":787,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Affordability\",\"Buying a Home\",\"Canada\",\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/below-average-home-prices-canada\/\",\"name\":\"Canadian Regions with Below Average Home Prices: View Homes for Sale | Zoocasa Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2023-03-27T10:00:00+00:00\",\"dateModified\":\"2023-03-30T16:16:48+00:00\",\"description\":\"There are a variety of regions in Canada where the average home prices are below the national average. 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