When it comes to buying a home in Canada, it's no surprise that there are huge disparities between regions.
From coast to coast to coast, the shift in home prices can cause potential homebuyers to reconsider where they might choose to live. As of December, average sale prices across the county's major cities vary from a low of $189,750 in Fredericton to a high of $918,883 in Toronto.
There are obvious factors that separate a city like Toronto from one like Fredericton, but for those wondering what a fixed price could buy them in different locations, a side-by-side comparison of what’s currently for sale shows a striking contrast.
READ: Three of the Most Affordable Cities in Ontario to Buy a Home Right Now
To showcase Canada’s distinct differences in real estate value, we looked at what you can get for $1 million dollars in every provincial and territorial capital city, and it's safe to say that seven-figure homes vary greatly in size and type across the country.
As you can imagine, you might not be able to find a $1 million dollar home in every city, so we tracked down the closest thing we could find to that price point.
From a spacious, contemporary home in Edmonton to a stunning and charming 4-bedroom house in Halifax, check out what a million-dollar home looks like in the 13 capital cities across Canada.
Victoria, BC
Average residential sale price 2020: $778,854
2218 Kinross Ave/Realtor.ca
Specs:
- Bedrooms: 2
- Bathrooms: 2
- Type: Single-family home
This home in the Oak Bay neighbourhood in Victoria is listed at $999,900. The two-bedroom home features a spacious floor plan, a 3-piece bathroom, a fireplace, a rec room on the lower level, a detached single car garage, and a spacious, grassy backyard. Potential buyers could renovate the house, keep it as is, or tear it down to build their dream home.
Edmonton, AB
Average residential sale price 2020: $364,820
9447 100A Street Northwest/Realtor.ca
- Bedrooms: 3
- Bathrooms: 3
- Type: Single-family home
This contemporary home located in the heart of Rossdale is listed for $1 million and is just a seven-minute walk to downtown. The home was built in 1994 but has since been renovated, boasting a spacious open concept main floor and a curved upstairs walkway that is flooded with natural light thanks to the soaring window wall. There's also a chef's kitchen, a double-sided fireplace in the living room, a large loft, and a wrap-around deck with enviable River Valley and downtown views.
Regina, SK
Average residential sale price 2020: $307,900
18 Park Crescent/Realtor.ca
- Bedrooms: 5
- Bathrooms: 5
- Type: Single-family home
Your dollar will really go far with this $999,900 home. Complete with an open floor plan, vaulted ceilings, and spacious rooms, this 5-bedroom home is the perfect place to raise a family. Highlights include a two-tiered deck, a sleek, modern kitchen, a hot tub, sauna, a finished basement with a theatre room, and an indoor pool. The home also has a triple car garage and a beautifully landscaped yard with a fire pit.
Winnipeg, MB
Average residential sale price 2020: $283,472
7 Kelsey Trail/Realtor.ca
- Bedrooms: 7
- Bathrooms: 8
- Type: Single-family home
This two-storey luxury home is listed for $999,900 and it's worth every penny. Located less than 30 minutes from downtown Winnipeg, it features seven bedrooms, four fireplaces, a fully-finished basement, two decks, and a heated four-car attached garage, this home is ideal for a large or growing family. Floor-to-ceiling windows flood the home with natural light, while the chef's kitchen is a culinary dream. This custom-built home offers structural wood floor, geothermal heating, and has a circular driveway with additional parking for your RV or boat.
Toronto, ON
Average residential sale price 2020: $918,883
53 Parkchester Road/Realtor.ca
- Bedrooms: 3
- Bathrooms: 2
- Type: Single-family home
Located in the neighbourhood of Brookhaven, this home is listed for $1 million and is surrounded by mature trees and backs onto a spacious, grassy yard. While the 3-bedroom home is ready as is, it also presents a buyer with the opportunity to overhaul the property or tear it down to build the home of their dreams.
Quebec City, QC
Median price of single-family home: $283,000
30 Rue du Côteau/Realtor.ca
- Bedrooms: 3
- Bathrooms: 3
- Type: Single-family home
A million dollars goes a long way in Quebec City (or at least within 15 minutes of downtown). Buyers can expect a grand, gorgeous home with all the bells and whistles with this budget. Built in 2010, this 3,358-sq.ft home boasts three bedrooms, three baths, a dream gourmet kitchen, a double-sided fireplace, and a terrace that offers picturesque views of the water.
Fredericton, NB
Average residential sale price 2020: $189,750
59 Meadow Drive/Realtor.ca
- Bedrooms: 3+2
- Bathrooms: 4
- Type: Single-family home
Buyers can put their $1 million budget to good use in Fredericton. This budget grants you an amazing, 2.5 storey home on a private, 7.4-acre property. Featuring spacious principal rooms, a large kitchen, and 3+2 bedrooms, this home is perfect for a growing family. Other highlights include multiple decks and balconies, a heated in-ground pool, a pond, and a two-storey, three-car garage.
Halifax, NS
Average residential sale price 2020: $370,271
1816 Garden Street/Zolo.ca
- Bedrooms: 4
- Bathrooms: 4
- Type: Single-family home
For a cool $999,000, buyers in Halifax can set up shop in a 4-bedroom, 4-bathroom charmer, complete with over 3,300-sq.ft of living space. Located on a family-friendly, tree-lined street in the South End of Halifax, this home has been updated on all four levels. From the charming front porch and the welcoming kitchen with a cozy built-in seating nook to the fenced-in backyard oasis, this home is sure to impress. Other notable features include a wood-burning fireplace, a gleaming skylight, custom blinds, and oversized windows that look out at the picturesque gardens.
Charlottetown, PE
Average residential sale price 2020: $319,000
95 Greenfield Avenue/Realtor.ca
- Bedrooms: 4
- Bathrooms: 4
- Type: Single-family home
For a price just shy of $900,000, Charlottetown dwellers can snag a 4,304-sq.ft home equipped with four bedrooms in the highly desirable Brighton neighbourhood. The listing we came across is decked out with a heated double garage, a great room with a wood-burning fireplace, a gourmet kitchen, and a spacious master bedroom complete with a walk-in closet and an ensuite including a jacuzzi tub, frameless glass-enclosed shower, and double vanity, while the finished basement features in-floor heating throughout and a home gym space.
St. John's, NL
Average residential sale price 2020: $292,336
13 Joshua Street/Realtor.ca
- Bedrooms: 4
- Bathrooms: 3
- Type: Single-family home
In St. John's a million-dollar home comes with an acre of land and over 9,000-sq.ft of living space, just 15 minutes or so from downtown. In this charming home, you get four bedrooms, 3 baths, and a gorgeous kitchen with quartz countertops, two ovens, a double door fridge, and a butler's pantry. There is also a two-bedroom apartment attached, which is great for the in-laws, home business, or rental income. Also worth noting are the postcard-worthy views of Conception Bay and the spacious backyard.
Whitehorse, YT
Average price for single-detached home: $516,200
79 McFadden Way/Realtor.ca
- Bedrooms: 2
- Bathrooms: 3
- Type: Single-family home
Located on a 2.83-acre lot just outside of town, this $949,900 listing is outfitted with a 1,788-sq.ft residence and a state-of-the-art shop featuring 16-foot ceilings and a 14-foot door, making it ideal for business owners and tinkerers who want to take hobbies to the next level. The home is complete with 2-bedrooms and 3-bathrooms, office space, and a fenced-in yard.
Yellowknife, NT
Average residential sale price 2020: $410,000
214 Niven Drive/Realtor.ca
- Bedrooms: 4
- Bathrooms: 3
- Type: Single-family home
While there wasn’t anything for sale in the $1 million range in the Yellowknife, this bright and spacious home overlooking Great Slave Lake is listed for $805,000. This home boasts an oversized double garage and a spacious living space with vaulted ceilings and large windows that offer maximum natural light. There are five outdoor decks and patios, while additional features include a paved driveway, and a spacious master with an ensuite complete with a soaker tub and an adjoining walk-in shower, and a walk-in closet.
Iqaluit, NU
Average condo price: $345,000
4014/Atillu Real Estate
- Bedrooms: 2
- Bathrooms: 1
- Type: Condo
Currently, there are no homes for sale in Iqaluit, so we've chosen to showcase a condo that's on the market for $439,500 right now. This cozy, 1,048-sq.ft condo was built in 2002 and features two bedrooms and one bathroom and has lots of storage space.
The average prices were made available through RE/MAX's 2021 Canadian Housing Outlook, CMHC's 2020 Northern Housing Outlook, and Quebec Professional Association of Real Estate Broker's December 2020 housing report.
