Check out Royal LePage® recent ‘Million Dollar Property Report’. The new report examines what a budget of approximately $1 million – give or take $50,000 – can buy in Canada’s major housing markets!
Highlights
On average, a $1 million property in Canada has 3.2 bedrooms and 2.1 bathrooms, while a $2 million property has 3.7 bedrooms and 2.6 bathrooms.
Edmonton boasts highest average square footage of all regions in the report (2,675 sf), while Vancouver records the lowest (900 sf) in the $1 million category.
Cities and greater regions of Toronto and Vancouver rank below national average in square footage for $1 million properties, while the Greater Montreal area boasts an average home size of 466 sf larger than the national average.
Winnipeg and Halifax record largest average home size in $2 million category at almost 4,000 sf.
Two thirds of Canadians overall (64%) believe that $1 million is a reasonable budget to afford a home that meets their household’s needs; that figure is significantly lower in Ontario (53%) and British Columbia (42%).
Scroll through the full report below….
2024-03 Sussex Million Dollar Properties Report