But the report also found the Golden Horseshoe region of Ontario was one of the most affordable locations.
The study ranked locations based on their average price for a four-bedroom, two-bathroom home from between September 2010 to March 2011. Vancouver’s average price was US$1.6 million. No other Canadian city made the top 10 list of most expensive locations.
The next highest Canadian city was Kelowna, B.C., at $1.1 million, followed by Burnaby, B.C. at $797,455.
The majority of locations in the top 10 were from British Columbia, but exceptions included Calgary, Fort McMurray, and Sherwood Park in Alberta and Oakville, Ont.
The least expensive location in Canada was Windsor, Ont., at $144,460, followed by Amherst, N.S., at $194,700 and Welland, Ont., at $196,321.
The most affordable U.S. location was Niagara Falls, N.Y., at $60,820.
“The Canadian market continues to experience record or near-record housing prices in major markets across the country, with Western Canada posting some of the nation’s highest prices,” said Jim Gillespie, CEO for Coldwell Banker Real Estate LLC. “But the (report) indicates that homeownership is still within reach for many. Those living around Ontario’s Golden Horseshoe are benefiting from some of the nation’s most affordable prices.”
Along with Windsor and Welland, six of the eight most affordable Canadian markets in the report are in the Golden Horseshoe region.
For those Canadians looking to buy in the U.S., the report said there are 1,545 markets with average listing prices less than US$300,000 for a four-bedroom, two-bathroom home. These markets include many ‘sunshine state’ destinations.
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