The house price for Ontario is forecast to increase slightly in 2025, after declining by six percent in 2023. From roughly 872,312 Canadian dollars, the average house price in Canada's second most expensive province for housing is expected to rise to 881,039 Canadian dollars in 2025. After British Columbia, Ontario is Canada's most expensive province for housing. Ontario Ontario is the most populated province in Canada, located on the eastern-central side of the country. It is an English speaking province. To the south, it borders American states Minnesota, Michigan, Ohio, Pennsylvania, and New York. Its provincial capital and largest city is Toronto. It is also home to Canada’s national capital, Ottawa. Furthermore, a large part of Ontario’s economy comes from manufacturing, as it is the leading manufacturing province in Canada. The population of Ontario has been steadily increasing since 2000. The population in 2023 was an estimated 15.6 million people. The median total family income in 2022 came to 101,920 Canadian dollars. Ontario housing market The number of housing units sold in Ontario is projected to rise until 2025. Additionally, the average home prices in Ontario have significantly increased since 2007.

The house price for Ontario is forecast to decrease by eight percent in 2023, followed by a minor increase of one percent in 2024. From roughly 932,000 Canadian dollars, the average house price in Canada's second most expensive province for housing is expected to fall to 861,000 Canadian dollars in 2024. After British Columbia, Ontario is Canada's most expensive province for housing. Ontario Ontario is the most populated province in Canada, located on the eastern-central side of the country. It is an English speaking province. To the south, it borders American states Minnesota, Michigan, Ohio, Pennsylvania, and New York. Its provincial capital and largest city is Toronto. It is also home to Canada’s national capital, Ottawa. Furthermore, a large part of Ontario’s economy comes from manufacturing, as it is the leading manufacturing province in Canada. The population of Ontario has been steadily increasing since 2000. The population in 2018 was an estimated 14.3 million people. The median total family income in 2016 came to 83,160 Canadian dollars. Ontario housing market The number of housing units sold in Ontario is projected to rise until 2024. Additionally, the average home prices in Ontario have significantly increased since 2007.

Average House Prices in Canada decreased to 690900 CAD in May from 692400 CAD in April of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

House prices in British Columbia and Ontario were notably higher than any other province in Canada in 2024. The average house price in any other province was less than ******* Canadian dollars, whereas in British Columbia and Ontario, it exceeded ******* Canadian dollars. The most affordable province to buy a home was Newfoundland, where the average home cost about ******* Canadian dollars.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at ******* Canadian dollars in 2023 and was forecast to reach ******* Canadian dollars by 2026. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From ******* units sold, the annual number of home sales in the country is expected to rise to ******* in 2025. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2025. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

This statistic shows the average home prices in Ontario in 2007 and 2017, by submarket. In 2017, the average selling price for a home in Greater Toronto reached ******* Canadian dollars, up from ******* Canadian dollars ten years earlier.

Graph and download economic data for Real Residential Property Prices for Canada (QCAR628BIS) from Q1 1970 to Q1 2025 about Canada, residential, HPI, housing, real, price index, indexes, and price.

Key information about House Prices Growth

• Canada house prices grew 0.1% YoY in Jan 2025, following an increase of 0.1% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1982 to Jan 2025, with an average growth rate of 1.8%.
• House price data reached an all-time high of 16.5% in Mar 1989 and a record low of -9.7% in Apr 1991.

New housing price index (NHPI). Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (201612=100).

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

Graph and download economic data for Housing Inventory: Average Listing Price in Ontario, OR-ID (CBSA) (AVELISPRI36620) from Jul 2016 to May 2025 about Ontario, ID, OR, average, listing, price, and USA.

This statistic presents the average home prices in selected Canadian cities in 2015. In that year, the average home price in Montreal amounted to approximately 329 thousand Canadian dollars.

The average house price in Nova Scotia in 2024 stood at approximately ******* Canadian dollars. In the next year, house prices are forecast to further increase by about five percent. Compared to other provinces, Nova Scotia ranked below the national average in terms of house prices. However, the average price of a house in Nova Scotia was twice lower than in Ontario or British Columbia. Exploding population growth in recent yearsNova Scotia is the second-smallest province after Prince Edward Island, and had a population of just under *********** in 2018. The population of this province was relatively steady between 2000 and 2015, but has taken off since then. This sudden growth may be a factor in the increasing house prices, as demand also increases due to the greater number of residents looking for homes. The future of housing affordability in Nova ScotiaHalifax, the provincial capital, had an affordable housing market as of 2018, with mortgage payments only constituting about ** percent of average household incomes. The number of housing starts in the region has increased in the past few years, which also suggests an increase in demand. Only time will tell whether this will ensure a sufficient supply of homes for the region in response to its growing population.

Graph and download economic data for Housing Inventory: Median Listing Price Month-Over-Month in Riverside-San Bernardino-Ontario, CA (CBSA) (MEDLISPRIMM40140) from Jul 2017 to Jun 2025 about Riverside, CA, listing, median, price, and USA.

The average price for a house in Quebec stood at approximately ******* Canadian dollars in 2024 and was set to increase slightly in the next two years. In 2025, the average price is forecast to reach ******* Canadian dollars. Meanwhile, the national average house price was forecast to pick up in 2025. Compared to other provinces, Quebec was the third-most expensive province to buy housing in Canada, after British Columbia and Ontario. Quebec Located on the eastern side of Canada, Quebec had an estimated population of almost **** million people in 2023. It is the second most populated province in Canada, and the second-largest by land size, as it is ***** times the size of Texas. The largest city in Quebec is Montreal, which is close to the Vermont border in the United States. The median total family income in Quebec has been steadily rising since 2000. Housing Prices in Canada Housing prices in Canada vary province to province. The most expensive average house price was in British Columbia in 2024. Vancouver, the most populated city in British Columbia, is known for its high-priced real estate market. However, housing prices all over Canada have increased in the past couple of years.

The average house price in the Canadian province of Prince Edward Island stood at ******* Canadian dollars in 2024 and was expected to increase in the next two years. By 2026, the average house price is forecast to reach ******* Canadian dollars. Compared to other provinces in Canada, Prince Edward Island stood below the national average in terms of house prices. Nevertheless, housing was still significantly more expensive than in Newfoundland and New Brunswick. House prices in Canada Prince Edward Island is one of the most affordable Canadian provinces for buying a house, with prices almost half below the national median in 2024. The national figure is somewhat skewed however by the extremely high cost of housing in British Colombia, and, to a lesser extent, Ontario. A better measure of affordability is the provincial house-price-to-income ratio, which shows Prince Edward Island to be the second most affordable province. Global comparison Canada is one of the most expensive countries in the OECD in terms of house-price-to-income ratio. In 2023, Canada scored higher than the United States, the UK, and Korea. That means that the cost of housing has increased at a much higher rate than the average income in the country.

Graph and download economic data for All-Transactions House Price Index for Riverside-San Bernardino-Ontario, CA (MSA) (ATNHPIUS40140Q) from Q2 1976 to Q1 2025 about Riverside, appraisers, CA, HPI, housing, price index, indexes, price, and USA.

The MSL composite price index measures the development of house prices in Canada since 2005. House prices rose dramatically in 2021, with the house price index spiking from 252 index points to 324 index points - an increase of 72 index points. In 2022, a correction followed, and the index fell to 299.4 index points, followed by a minor increase to 301.5 index points

United States Median Home Sale Price: All Residential: Ontario, OR data was reported at 229.000 USD th in Jul 2020. This records a decrease from the previous number of 234.000 USD th for Jun 2020. United States Median Home Sale Price: All Residential: Ontario, OR data is updated monthly, averaging 141.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 277.000 USD th in Apr 2020 and a record low of 63.000 USD th in Feb 2014. United States Median Home Sale Price: All Residential: Ontario, OR data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

The average sales price in Greater Toronto, Canada, increased for all property types except condos in 2023. Buying a condo in December 2023 would cost a home buyer about ******* Canadian dollars. Toronto is Canada's most populous city and the country's most important economic center. It consists of ** municipalities, including Toronto City, Mississauga, Brampton, and others.