Eight out of Canada’s most expensive neighbourhoods are in the Vancouver metropolitan area, according to a survey from Century 21. Housing in the downtown and west side of Vancouver command an average of $1147 and $903 per square foot respectively.
Century 21 asked its franchisees to track the average price per square foot in their local markets from January 1 to June 30 of each year. This information was then compared with past data to gather insights on pricing trends.
“This year’s annual survey of prices per square foot underline that many Canadian markets are seeing fluctuating prices,” said Brian Rushton, executive vice-president at Century 21 Canada.
“In several urban areas we saw prices decline in one suburb but increase in the neighbouring one. That trend has very likely only increased further since our cut-off for data earlier this summer. Now more than ever it is important to have good information when making real estate buying and selling decisions.”
Downtown Toronto and Montreal are the only neighbourhoods in the top ten that are outside of British Columbia. In downtown Toronto, the average price per square foot is $903, while in downtown Montreal it is $603.
On the other end of the spectrum, Montcon, NB is Canada’s least expensive city with an average price per square foot of $101.