In a recent study, real estate information portal Zoocasa looked at the sales-to-listings ratios of housing markets nationwide.
Using data from local real estate boards, the analysis ranked markets based on their suitability to the needs of home buyers and sellers alike.
Zoocasa cautioned users to not mistake buyers’ markets for the most affordable destinations. The designation specifically indicates that a market has a low likelihood of competitive hurdles such as bidding wars.
Canada’s top buyers’ markets are the following, with sales-to-listings ratios indicated:
- Newfoundland and Labrador (35%, average home price of $254,533)
- Greater Vancouver (43%, average home price of $1,024,282)
- Fraser Valley (45%, average home price of $770,734)
- Edmonton (48%, average home price of $376,429)
- Quebec CMA (49%, average home price of $268,897)
Read more: B.C. cities with slightly more affordable homes
Meanwhile, home owners in the sellers’ markets ranked here can expect more traffic compared to other locations in Canada, should they decide to have their property listed:
- London and St. Thomas (78%, average home price of $363,727)
- Montreal (73%, average home price of $392,660)
- Ottawa (72%, average home price of $405,279)
- Windsor-Essex (71%, average home price of $305,983)
- Saguenay CMA (70%, average home price of $193,646)
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate