Chris Dudeck

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Winnipeg Still Affordable Compared to Other Canadian Cities

Despite recent headlines of record home prices across Canada, a 2012 study by Coldwell Banker Real Estate LLC indicates there are still many affordable markets where Canadian buyers can achieve their dream of homeownership.  Coldwell Banker has issued its annual Home Listing Report (HLR) revealing several of Canada’s most affordable real estate markets. 

Affordability remains strong in many markets across the country as close to thirty Canadian markets analyzed by the report had an average home listing price of less than $300,000 for four-bedroom, two-bathroom homes.  

Winnipeg, despite steady annual price increases since the late 90's, still remains at the middle of the pack; ranked 33rd out of the 74 markets studied across Canada, as prices are listed lowest to highest. 

Full Canadian ranking can be viewed here.  (Make sure you pick "Canada" from the drop down tab)

Windsor, Ontario was Canada’s most affordable market, averaging a $170,991 list price for the studied four-bedroom, two-bathroom home.  It was the only major market under $200,000 in the study.

Vancouver once again held its position as the most expensive market in Canada, with an average list price of $1,876,414 for the subject home. Nearby Richmond ($1,181,654) and Burnaby ($917,968) followed Vancouver to round out the top three spots in Canada.  The universal appeal of Vancouver for foreign buyers and relocating Canadians, particularly retirees, continues to fuel demand for the BC market.  Despite some moderation after new mortgage regulations took effect last July, Vancouver list prices are a product of ongoing high demand, projected population growth and the low inventory levels of homes in what is one of the most desirable locations in Canada.

Serving as an analysis of the most expensive and affordable markets across North America, the Coldwell Banker HLR provides a snapshot of the average listing price of four-bedroom, two-bathroom homes across Canada and the US.  This year’s report analyzes more than 72,000 home listings in more than 2,500 North American markets.

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