Whether you’re buying, selling, or investing, knowing where the hottest real estate markets are in Canada is essential to making smart real estate decisions.
As 2025 unfolds, traditional hotspots like Toronto and Vancouver are becoming less accessible for first-time buyers and less profitable for investors. Meanwhile, emerging real estate markets across the Prairies, Atlantic Canada, and Quebec are drawing national attention.
What Defines a “Hot” Real Estate Market?
A hot housing market isn’t just about high prices – it’s about demand outpacing supply.
Key indicators include:
- Low housing inventory compared to active buyers
- Frequent bidding wars and multiple-offer situations
- Faster-than-average selling times
- Steadily rising home values
These markets are often driven by factors such as:
- Population migration to more affordable regions
- Remote work flexibility and hybrid careers
- Economic diversification and infrastructure investment
- Demographic shifts, including younger families and downsizing retirees
- Targeted investor interest in up-and-coming areas
The Prairies: Canada’s Rising Real Estate Powerhouse
Saskatchewan
Saskatoon has become one of the fastest-growing real estate markets in the Prairies. Home prices climbed 8.2% year-over-year (August 2025) thanks to strong research sectors and natural resource industries.
In Regina, affordability remains appealing, but limited supply and strong demand are expected to push prices higher in 2026.
Alberta
While Calgary’s market has cooled slightly into a balanced state, Edmonton remains one of the hottest housing marketsin the region. Detached home prices rose 5.3% year-over-year in August 2025. Alberta’s combination of affordability, job growth, and lifestyle perks continues to attract newcomers.
Manitoba
Often overlooked, Winnipeg is quietly leading as a steady, affordable market. Home prices surged 8.1% year-over-year, making it a top contender for buyers seeking stability, culture, and outdoor adventure.
Atlantic Canada: Strong Momentum Continues
Markets in Newfoundland and New Brunswick are now outpacing much of the country.
- Newfoundland and Labrador recorded the highest home price increase in Canada, up 12.3% year-over-year. St. John’s is booming with returning residents and new immigrants drawn by its coastal charm and connectivity.
- New Brunswick’s Fredericton saw a 6.2% price jump, while Saint John rose 10.5%, showing that East Coast real estate remains a smart long-term investment.
Quebec: Affordable Luxury and Steady Growth
Quebec City has seen single-family home prices rise 7% year-over-year, while Montreal hit an 8.9% increase from 2024 to 2025.
Buyers are drawn to Quebec’s lower cost of living, cultural appeal, and growing local economies. Even with higher income taxes, the value for lifestyle and property is unmatched.
Ontario: Beyond the Big Cities
While Toronto remains pricey, Ontario still has hidden gems for both homebuyers and investors.
- Peterborough & The Kawarthas – Real estate prices rose 3% year-over-year, driven by scenic lakefront properties and a thriving vacation rental market.
- Rideau Lakes – Affordable entry prices, beautiful waterways, and rising demand make this a top pick for nature lovers and investors.
- Thunder Bay – One of the most active markets in Northern Ontario, with homes selling quickly and prices steadily rising due to increased inventory and local demand.
Key Takeaway
Canada’s hottest real estate markets in 2025 are no longer confined to Toronto and Vancouver.
The smart money is moving toward emerging regions like the Prairies, Atlantic Canada, and parts of Quebec, where affordability and growth potential align.
For the best results, work with an experienced RE/MAX real estate agent who understands local market trends and can help you time your purchase or sale strategically.
Source: RE/MAX Canada
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