Historical Housing Prices
Track 10-year price trends across Canadian provinces
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Historical House Prices by Province (2015-2024)
10-year price trends across Canadian provinces. Static high-performance visualization.
Understanding This Metric
Historical housing prices track the average sale price of residential properties over time. This data reflects regional disparities and long-term boom-and-bust cycles.
Notice how prices in major markets like BC and Ontario often move in sync, while prairie provinces may follow different economic drivers like oil prices or local industry shifts.
Key Takeaways
- The gap between high-cost and low-cost provinces has widened significant over the last decade.
- Sharp increases often correlate with periods of low interest rates (e.g., 2020-2022).
- The stability in 2024-2025 suggests a "digestion" phase for the market.
- Recent data shows a slight "cooling" or stabilization in BC and Ontario as rates remain elevated.
Province Price History
| Year | BC Average | ON Average | AB Average | QC Average |
|---|---|---|---|---|
| 2026 | $1,200,000 | $1,105,000 | $655,000 | $645,000 |
| 2025 | $1,185,000 | $1,085,000 | $635,000 | $625,000 |
| 2024 | $1,171,500 | $1,087,017 | $605,026 | $609,992 |
| 2023 | $1,170,000 | $1,131,290 | $569,168 | $566,700 |
| 2022 | $1,114,300 | $1,458,035 | $548,800 | $550,000 |
| 2021 | $1,230,200 | $1,342,444 | $490,000 | $520,000 |
| 2020 | $1,047,400 | $929,699 | $449,580 | $457,900 |
| 2019 | $1,001,000 | $883,520 | $469,916 | $406,332 |
| 2018 | $1,032,400 | $787,300 | $475,160 | $407,230 |
| 2017 | $1,050,300 | $822,681 | $481,000 | $364,510 |
| 2016 | $897,600 | $729,922 | $440,650 | $342,000 |
| 2015 | $760,900 | $623,531 | $469,337 | $338,000 |
The 2015-2024 Divergence
Looking at the 10-year horizon, we see two distinct Canada's. In 2015, the average home in Ontario was roughly $520,000. Today, that same average (factoring in the 2024-2025 modest cooling) sits closer to $1.07M—a doubling of price in just a decade.
Contrast this with Alberta or Saskatchewan. While prices have risen, they haven't followed the vertical trajectory of BC and Ontario. This has led to a massive internal migration trend, as younger professionals move eastward or into the prairies to find the affordability that simply no longer exists in Toronto or Vancouver.
The Pandemic Surge & Aftermath
The 2020-2022 period represented the most aggressive price appreciation in Canadian history. Low interest rates combined with a preference for more space (the "race for space") drove prices up by 20-30% in many regions in a single year.
Currently, we are in the "digestion" phase. High interest rates have successfully stalled price growth, and in some over-extended markets like Ontario's exurbs (the "905"), prices have corrected by 10-15% from their peak. However, low supply continues to prevent a major national crash.
Did You Know?
In 1999, the average house price in Canada was just $158,000. It took 15 years to hit $400k, and only 7 years to hit $700k.
Supply vs. Demand
CMHC estimates that Canada needs an additional 3.5 million housing units on top of current construction rates to restore affordability by 2030.