{"id":28568,"date":"2024-04-10T07:00:00","date_gmt":"2024-04-10T11:00:00","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=28568"},"modified":"2024-04-17T11:47:54","modified_gmt":"2024-04-17T15:47:54","slug":"buying-a-townhouse-in-2024-canada","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/buying-a-townhouse-in-2024-canada\/","title":{"rendered":"Buying a Townhouse in 2024? Score\u00a0Deals in These Canadian Markets\u00a0"},"content":{"rendered":"\n<p>Townhouses offer the best of both worlds: more space and bedrooms than apartments, either with similar amenities and maintenance, such as shared common spaces like underground parking, gyms, or playgrounds, or all the flexibility of a freehold property. They can be particularly appealing to the first-time homebuyer, as the benchmark price for a townhouse in Canada is $664,400. Plus, 50% of the markets surveyed among 20 major markets have a benchmark price of $500,000 or less.&nbsp;<\/p>\n\n\n\n<p><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 real estate market insights, news, and reports straight to your inbox.<\/em><\/strong><\/p>\n\n\n\n<p>Zoocasa analyzed the benchmark costs of <a href=\"https:\/\/www.zoocasa.com\/blog\/freehold-vs-condo-townhouse-which-is-right-for-you\/\" target=\"_blank\" rel=\"noreferrer noopener\">townhouses<\/a> throughout Canada, the required down payments, and their appreciation rates over the past year. If you&#8217;re considering a townhouse, these are the markets to watch.&nbsp;<\/p>\n\n\n\n<p>Benchmark home prices were sourced from the Canadian Real Estate Association (CREA). CREA includes both condominium and freehold townhouses in the benchmark home price. Minimum down payment amounts were calculated based on 5% of the purchase price for homes valued at $500,000 and under, 10% for the portions of home prices between $500,001 \u2013 $999,999, and 20% for homes priced at $1 million and over.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"1497\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024.png\" alt=\"\" class=\"wp-image-28673\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024.png 600w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024-120x300.png 120w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024-410x1024.png 410w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024-768x1916.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024-616x1536.png 616w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Canadian-Townhouses-2024-821x2048.png 821w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Where to Find the Best Townhouse Deals in Canada Right Now<\/h2>\n\n\n\n<p>Pricing for townhouses remains stable in several markets, including <a href=\"https:\/\/www.zoocasa.com\/ottawa-on-real-estate?page=6&amp;sort=-price\" target=\"_blank\" rel=\"noreferrer noopener\">Ottawa<\/a>, <a href=\"https:\/\/www.zoocasa.com\/toronto-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Greater Toronto<\/a>, <a href=\"https:\/\/www.zoocasa.com\/victoria-bc-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Victoria<\/a>, <a href=\"https:\/\/www.zoocasa.com\/hamilton-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Hamilton<\/a>&#8211;<a href=\"https:\/\/www.zoocasa.com\/burlington-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Burlington<\/a>, <a href=\"https:\/\/www.zoocasa.com\/kitchener-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Kitchener<\/a>&#8211;<a href=\"https:\/\/www.zoocasa.com\/waterloo-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Waterloo<\/a>, <a href=\"https:\/\/www.zoocasa.com\/niagara-falls-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Niagara Region<\/a>,<a href=\"https:\/\/www.zoocasa.com\/windsor-on-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\"> Windsor-Essex<\/a>, and <a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a>, with less than a 2% increase or decrease. This stability gives buyers confidence in their financial planning, and sellers may be more willing to negotiate on price or other terms to close a deal.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read More: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/average-monthly-mortgage-april-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>How Much Canadian Homebuyers Will Spend on Their Mortgage Each Month<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>Similarly, six cities offer benchmark townhouse prices under $350,000. The benchmark townhouse in <a href=\"https:\/\/www.zoocasa.com\/quebec-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Quebec<\/a> is $326,300, closely followed by <a href=\"https:\/\/www.zoocasa.com\/saskatoon-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saskatoon<\/a> at $320,800. Four markets have townhouse prices well below $300,000: <a href=\"https:\/\/www.zoocasa.com\/winnipeg-mb-real-estate\/houses\" target=\"_blank\" rel=\"noreferrer noopener\">Winnipeg <\/a>at $283,500, <a href=\"https:\/\/www.zoocasa.com\/saint-john-nb-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Saint John<\/a> at $275,200, Edmonton at $245,900, and <a href=\"https:\/\/www.zoocasa.com\/regina-sk-real-estate\" target=\"_blank\" rel=\"noreferrer noopener\">Regina<\/a> at $225,600. Overall, these markets can be especially appealing for first-time homebuyers or investors, particularly because four saw significant year-over-year increases ranging from 8 to 12%.&nbsp;<\/p>\n\n\n\n<p>And if you\u2019re still saving to enter the real estate market &#8211; consider the cities where you need less than $20,000 for a down payment on a townhouse: Quebec, Saskatoon, Winnipeg, Saint John, Edmonton, and Regina.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Townhouses for Sale Under $500K in Spring 2024<\/h2>\n\n\n\n<p>20% of the analyzed markets had townhouses priced between $400,000 and $500,000. The benchmark cost of an Ottawa townhouse is $495,000, in <a href=\"https:\/\/www.zoocasa.com\/london-on-real-estate\/townhouses\" target=\"_blank\" rel=\"noreferrer noopener\">London<\/a> &amp; St. Thomas: $474,200, <a href=\"https:\/\/www.zoocasa.com\/calgary-ab-real-estate?utm_campaign=&amp;utm_source=google&amp;utm_medium=cpc&amp;utm_adgroup=&amp;utm_content=694322236007_c&amp;utm_term=new%20homes%20calgary&amp;utm_loc_interest_ms=1001801&amp;utm_loc_physical_ms=9000945&amp;gad_source=1&amp;gclid=Cj0KCQjwn7mwBhCiARIsAGoxjaKhC4VCTumOl1MzD2gMFdJfmmuXCk_CuysNMR4Bnei4vpzDfTmAQtEaAl13EALw_wcB\" target=\"_blank\" rel=\"noreferrer noopener\">Calgary<\/a>: $458,100, and Windsor-Essex: $402,500.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Read More:<\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/calgary-condos-vs-detached-homes-appreciatiation-nov-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong> Calgary Apartment Condos vs. Detached Homes: Which Appreciated More?&nbsp;<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Why Alberta Townhouses are the Investment You Can\u2019t Afford to Miss&nbsp;<\/h2>\n\n\n\n<p>Calgary experienced a significant 17% increase in townhouse value in 2024, the most notable increase year-over-year among all the markets analyzed. You can purchase a townhouse in Calgary for $458,100, which would require a $23,000 deposit. Similarly, Edmonton also saw significant year-over-year gains, with a 10.3% increase. However, you can still buy a townhouse in the Alberta capital with a $12,300 down payment for the benchmark townhouse price of $245,900.&nbsp;<\/p>\n\n\n\n<p>Read why one <a href=\"https:\/\/www.zoocasa.com\/blog\/moving-from-toronto-to-calgary\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ontario couple<\/a> moved across the country to buy their first townhouse in Calgary.<\/p>\n\n\n\n<p>On the market for a townhouse? Whether you\u2019re planning to relocate or looking for a place close to home, we can help!&nbsp;<a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\" target=\"_blank\" rel=\"noreferrer noopener\">Give us a call today<\/a>&nbsp;to speak to a Realtor who can help you find a townhouse in your desired area. <\/p>\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Ready to buy or sell?<\/div>\n<div class=\"cta-body\">Our agents can help<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Townhouses offer the best of both worlds: more space and bedrooms than apartments, either with similar amenities and maintenance, such as shared common spaces like underground parking, gyms, or playgrounds, or all the flexibility of a freehold property. They can be particularly appealing to the first-time homebuyer, as the benchmark price for a townhouse in [&hellip;]<\/p>\n","protected":false},"author":157,"featured_media":28888,"comment_status":"closed","ping_status":"closed","sticky":false,"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_template":"0","override":[{"template":"1","single_blog_custom":"","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"0","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"0"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"footnotes":""},"categories":[1114,76,1111],"tags":[],"class_list":["post-28568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability-reports","category-buying-a-home","category-canada"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buying a Townhouse in 2024? 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Check Out These Canadian Cities\" \/>\n<meta property=\"og:description\" content=\"There are 20 major markets in Canada that have a townhouse benchmark price of $500,000 or less, according to CREA.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/buying-a-townhouse-in-2024-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=\"2024-04-10T11:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-17T15:47:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Townhouses-in-Canada-2024-Social-.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=\"Angela Serednicki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2024\/04\/Townhouses-in-Canada-2024-Social-.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=\"Angela Serednicki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/buying-a-townhouse-in-2024-canada\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/buying-a-townhouse-in-2024-canada\/\"},\"author\":{\"name\":\"Angela Serednicki\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/b162735b027c20ba6e2007c6ae373c22\"},\"headline\":\"Buying a Townhouse in 2024? 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