The 1M benchmark used to guarantee a luxury property in most of Canada. In 2025, it often represents the starting pointin some regions and a waterfront dream home in others.
National home prices have been driven by higher construction costs, limited inventory, interprovincial migration, and the ongoing urban to rural shift. Here’s a province by province look at what 1M homes look like across the country right now.
Toronto, Ontario
Calgary, Alberta
Edmonton, Alberta
Vancouver, BC
Fredericton, New Brunswick
Halibut Bay, Nova Scotia
Montreal, Quebec
Whitehorse, Yukon
Winnipeg, Manitoba
Regina, Saskatchewan
St. Phillip’s, Newfoundland and Labrador
Oshawa, Ontario
Yellowknife, NWT
A million dollars buys dramatically different homes depending on where you live in Canada. From micro condos in Vancouver to waterfront retreats on the East Coast, the gap continues to widen.
For buyers, this means exploring interprovincial markets, expanding search areas, and focusing on long term affordability rather than sticker price alone.
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Canada Housing Market 
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