Where to Buy Property in Canada 2025: National Market Guide

---

Go to menu.

After two years of a quieter housing market, 2024 was expected to bring renewed activity across Canada. Buyers entered 2024 hoping the Bank of Canada (BoC) would begin cutting interest rates, but the spring season passed with the benchmark rate unchanged. When the BoC finally started lowering rates in June and continued with additional cuts later in the year, the expected surge in demand was modest. By December, cumulative rate cuts totaled 175 basis points, yet markets remained measured.

Lower demand in 2024 increased listings in many regions, and months of inventory climbed to 4.4 in May — the highest level since May 2020, according to CREA. That added supply gave buyers more options and reduced sellers’ leverage, helping maintain a broadly balanced marketplace.

Entering 2025, inflation appeared under control and the BoC’s rate-cutting cycle seemed to be winding down. Falling mortgage rates and softer home prices were expected to release pent-up buyer demand. Still, geopolitical and trade concerns have tempered buyer confidence. On the bright side, affordability improved in many Canadian markets over the previous year.

This report, Where to Buy Real Estate in Canada 2025, identifies the strongest markets and neighbourhoods to watch this year. Compiled in partnership with Zoocasa, the analysis evaluates price trends, affordability and local quality-of-life indicators to rank the best places to buy across 44 regions, plus detailed neighbourhood lists for Vancouver, Calgary, Edmonton, Toronto and the GTA.

Best places to buy real estate: National overview

Below are the top places to buy real estate in Canada for 2025, based on Zoocasa’s evaluation of 44 regions. The ranking factors in 2024 benchmark prices, recent price growth and local quality-of-life indicators such as median after-tax income, safety and health-care access. For full dataset access and details about our approach, see the methodology section below.

Return to menu.

What’s shaping the Canadian real estate market in 2025?

Many buyers delayed decisions in 2024 while waiting for mortgage rates to fall. Although borrowing costs eased over the year, many prospective purchasers waited until they felt rates had stabilized. That cautious approach reduced the usual spring market urgency and helped restore balance between listings and demand in several regions.

Zoocasa CEO Carrie Lysenko notes that this hesitancy produced a rare market equilibrium: buyers re-entered more deliberately, keeping supply and demand closer to parity than in recent boom years. With rates expected to settle in 2025, buyers should feel more confident committing to purchases.

At the start of 2025, average five-year fixed mortgage rates hovered just above 4%, down from closer to 5% a year earlier. The rate cuts in 2024 also encouraged more sellers to list properties, with new listings increasing in many major markets. From December 2024 to January 2025, new listings rose roughly 11% month-over-month and months of inventory increased, giving buyers more options.

Sales trends have varied by region. While Ontario saw softer activity in the spring of 2024, Western markets demonstrated stronger momentum. Edmonton and Regina, for example, experienced outsized year-over-year sales growth in parts of 2024. Entering 2025, sales were mixed: Victoria, Edmonton and Winnipeg reported year-over-year increases in January, while Toronto recorded a decline.

As core markets like Toronto and Vancouver remain relatively stable in price, buyers are increasingly exploring less saturated, more affordable markets such as cities on the Prairies. These areas are attracting attention for offering better value and stronger price growth potential outside of Canada’s largest urban centres.

Most regions in the analysis saw average prices rise by less than 3% in 2024. Markets with the strongest gains were generally outside the Toronto and Vancouver spheres; Quebec CMA, Regina, Saskatoon, Saint John and Edmonton posted notable year-over-year increases in early 2025. If spring demand picks up, price growth could accelerate in several of these areas.

Return to menu.

Canada’s top three real estate markets in 2025

1. Fredericton, N.B.

Fredericton has climbed the rankings in recent years and now tops the 2025 list. The city scores high for affordability, safety and strong price appreciation. With an average home price of $310,925 — among the lowest in the list — Fredericton offers notable value for buyers and investors.

What’s happened in the Fredericton real estate market?

Fredericton’s affordability hasn’t stopped strong appreciation. At the end of 2024 the average price rose 11% year-over-year; three- and five-year gains were 32% and 72%, respectively. Local agents describe the city as the “perfect size” — large enough for amenities and cultural life, yet compact and safe. That combination has attracted returning residents, young families and first-time buyers seeking homes in the $250,000–$400,000 range.

What’s next for real estate in Fredericton?

Limited listings amid rising buyer interest are likely to keep the market tight in 2025, supporting further price growth. Buyers should be prepared: securing mortgage pre-approval, working with an experienced agent and moving quickly when suitable properties appear will be important strategies in a competitive market.

Return to menu.

2. Calgary, Alta.

Calgary is a major Western economic centre with a diverse housing market. Average prices are higher than in some of the top-ranked cities, but pockets of strong affordability remain. Many Calgary neighbourhoods with average prices between $400,000 and $560,000 have seen rapid growth and remain attractive to buyers seeking value in a major city.

Return to menu.

3. Saint John, N.B.

Saint John remains one of the most affordable seaport cities in Canada and ranks third in 2025. With an average 2024 price of $311,225 and strong recent growth, the city offers a compelling mix of value and access to healthcare and amenities.

What’s happened in the Saint John real estate market?

After strong interest from out-of-province buyers following the pandemic, activity in Saint John has continued with robust competition for homes, especially in the $350,000–$450,000 range. The average price rose 9% in 2024 and has increased substantially since 2019. Higher demand combined with limited supply has pushed prices upward, though growing construction may help ease inventory pressure.

What’s next for real estate in Saint John?

Price momentum is likely to continue while inventories remain constrained. Builders increasing new supply would help balance the market and expand options for resale buyers. Lower rates and expanded amortization options have also improved affordability for first-time buyers entering the market this year.

Return to menu.

---

Guide to the data tables

• Regions: Some regions are combined to reflect how boards report data; overlapping or low-volume areas were excluded.
• Benchmark price 2024: Composite benchmark price as of Dec. 31, 2024, covering all property types.
• 1-year, 3-year and 5-year growth: Percentage change in the composite benchmark price over each timeframe.
• Median after-tax income: Household median after-tax income from the 2021 Census.
• Safety index: Based on Numbeo survey data reflecting perceptions of crime and safety.
• Health care index: Based on Numbeo survey responses about local health-care quality and access.
• Value: A composite score out of five that weights price, recent growth and local economic and quality-of-life indicators.
• National average (+/-): Difference between the area’s benchmark price and the national average as of Dec. 31, 2024.

Methodology

Zoocasa compiled data from real estate boards across Canada and calculated rankings using 2024 transaction and benchmark data collected in early 2025. Rankings consider benchmark prices, one-, three- and five-year growth rates, median after-tax income, safety and health-care indices. Neighborhood rankings incorporate neighbourhood-level economics and accessibility measures.

Data sources

Primary sources include CREA, regional real estate boards, Statistics Canada, Walk Score and Numbeo. For complete details about calculations and weighting, consult the methodology section above.

Return to menu.

Read more about buying a home:

• Mortgage affordability calculator
• The complete guide for first-time home buyers in Canada
• Where to find the first home savings account
• Buying a second home: How it works in Canada