Windsor, the most affordable city in Canada

The average price in Windsor came in at $170,991, above second-place Rimbey, Alta., with a list price of $201,950. The country’s most expensive market was Vancouver, with the average price slated at a whopping $1,876,414.

According to President of Coldwell Banker Canada John Geha, the report is positive reinforcement for homebuyers. "Our home listing report captures an insightful look at local market conditions and emerging trends in real estate," he says. "Although home prices have reached record highs in many markets across Canada, there are still affordable options available to homebuyers, especially those who are able to work from home, or who make the decision to trade location for commute. We recognize buying a home is a significant life decision, so each year we do this apples-to-apples comparison of similar homes to provide homebuyers with useful information about the many great opportunities that exist across Canada, as well as in the U.S."

Five of the top ten affordable markets were found in Ontario, with prices in Hamilton and Niagara particularly attractive to buyers. The report brings good news particularly to first-time investors looking for affordable property in some of the country’s hottest investor markets, including Hamilton, which ranked 12th with an average price of $245,292. The report surveyed over 2,500 markets across North America, 74 of them in Canada, and looked at four-bedroom, two-bathroom homes between January and June 2012.

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