Dream home or one-bedroom condo? What will $700,000 buy you in housing markets across Canada

Home prices in Calgary have been rising, making it harder and harder to obtain the dream of homeownership. 

The average sale price for a home in Calgary in April was $499,505, while the average price in Canada was much higher, at $703,446 according to the latest Canadian Housing Market report.

We took to Realtor.ca to see what Canada’s average housing price can get you in major cities across the country.

Which city would you like to buy a house in? Take a look and share your thoughts in the comments section below.

Vancouver, B.C. – $699,900

For this price, you could get a two-bedroom, one-bathroom apartment in downtown Vancouver with 668-square feet of air-conditioned living space.

Edmonton, Alberta – $699,980

In Alberta’s capital city, you can get a four-bedroom, three-bathroom home with 2573 square feet of living space in a new development.

Calgary, Alberta – $699,900

In one of the hottest real estate markets in Canada, you can get a three-bedroom, three-bathroom home with 2150 square feet of living space in the southeast community of New Brighton.

Regina, Saskatchewan – $699,000

In this Saskatchewan city, the average Canadian housing price could get you a five-bedroom, three-bathroom home with 1681 square feet of living space.

Winnipeg, Manitoba – $699,950

In Manitoba’s largest city, for just under $700,000, you could purchase a four-bedroom, three-bathroom home with 1859 square feet of living space and an oversized garage.

Toronto, Ontario – $700,000

In Canada’s most populous city, you can get a one-bedroom, one-bathroom condo with an unlisted amount of square feet and no parking spot.

Halifax, NS – $699,900

In the heart of the Maritimes, you can get a 4-bedroom, 2.5-bathroom home with 1998 square feet of living space.

Saint John, New Brunswick – $699,900

In New Brunswick, your $700,000 seemingly goes the furthest, with this massive four-bedroom, five-bathroom home with 3,550 square feet of living space boasting water views.

We know the rising costs of groceries, mortgages, rents and power are important issues for so many Calgarians trying to provide for their families. In our special series  Squeezed: Navigating Calgary’s high cost of living , we take a deep look into the affordability crisis in Calgary. We’ve crunched numbers, combed through reports and talked to experts to find out how inflation is impacting our city, and what is being done to bring prices back to earth. But, most importantly, we spoke to real families who shared their stories and struggles with us. We hope you will join the conversation as these stories roll out.

This week: Priced Out: The Rising Cost of Housing

• ‘It’s depressing being a 40-year-old stuck at home’: Why the dream of homeownership is fading for many Calgarians

Still to come: 

• The Cost of Doing Business

Our series so far:

• Feeling the sting of Calgary’s cost of living? Tell us how you’re managing
• Calgary’s affordability advantage slipping away
• Adults remain with their parents, stretching dollars and pooling resources
• Braid: Inflation is pure poison and Liberals continue to fuel it with spending and taxes
• ‘Food insecurity is at a crisis point’: Advocate argues policy changes are needed
• ‘You just can’t afford to be a single parent anymore’: Working mom struggles to afford necessities
• Why has shrinkflation run rampant and when will it end? Plus, 11 startling examples
• ‘My bills keep growing. But my income isn’t’: Senior stretches $35 a week grocery budget
• ‘Guess what folks? Food isn’t getting any cheaper’: Inflation, sadly, is nothing new