Eight markets, straight from the boards

Canadian Housing Market Reports

These housing market reports cover eight Canadian markets, and every figure carries the board and the month it came from, because a benchmark from June and an average from July are not the same measurement.

The eight markets

Five of the eight are down year over year, two are up, and one is flat. The spread between the most and least expensive market is more than two and a half times.

Benchmark price, twelve month change, detached and condo prices, two bedroom rent and vacancy for eight Canadian markets
Market	Price	12 mo	Detached	Condo	Rent, 2br	Vacancy
VictoriaGreater Victoria	$1,170,200MLS benchmark	−0.6%	$1,301,800	$553,600	$2,120	3.3%
VancouverMetro Vancouver	$1,099,100MLS benchmark	−6.0%	$1,990,000	$771,000	$3,150	3.7%
TorontoGreater Toronto Area	$940,800MLS benchmark	−5.4%	$1,360,000	$631,000	$2,700	3.0%
MontrealMontreal CMA	$649,000Median price	+3.5%	$649,000	$435,000	$2,050	2.9%
OttawaOttawa Census Division	$634,000MLS benchmark	−0.5%	$725,000	$385,500	$2,300	3.0%
CalgaryCity of Calgary	$569,200MLS benchmark	−2.0%	$743,900	$299,000	$1,900	5.0%
HalifaxHalifax–Dartmouth	$557,300MLS benchmark	0.0%	$610,000	$420,000	$1,826	2.7%
WinnipegWinnipeg Census Metropolitan Area	$408,020Board average	+2.3%	$454,264	$290,522	$1,550	2.8%

Price and twelve month change come from each city’s own board, on the month named in that city’s report. They are not all the same month, and Montreal and Winnipeg publish medians and averages rather than a benchmark. Rents are market asking rents; vacancy is CMHC purpose-built for the CMA named on each report page, which is wider than the city proper.

Price by market

Composite benchmark, median or board average, depending on what each board publishes.

Vancouver and Victoria are the only two markets above a million dollars; Winnipeg is the only one below half a million. Montreal is a median and Winnipeg an average, so those two bars answer a slightly different question than the six benchmarks. Full figures, with each board and month, are in the table above.

Twelve month change

Where each market sits against the same month a year earlier.

Bars right of the line gained, bars left of it fell, and Halifax sits on the line. Each figure is against the same month a year earlier, but the months themselves differ by board, so this compares each market to its own past rather than to the others on a single date.

Gained
Fell
Flat

What it costs to buy

The benchmark, where it has moved in twelve months, and the land transfer cheque that clears on closing day.

Market	Tax on closing	Context
Toronto	$30,582	Ontario LTT + Toronto municipal LTT
Victoria	$21,404	BC property transfer tax
Vancouver	$19,982	BC property transfer tax
Ottawa	$9,155	Ontario LTT only (no municipal LTT)
Montreal	$8,451	Quebec welcome tax (droit de mutation)
Halifax	$8,360	HRM 1.5% deed transfer tax, no first-time exemption
Winnipeg	$5,810	Manitoba land transfer tax (no first-time rebate)
Calgary	$1,130	No land transfer tax, registration fees only

Land transfer, property transfer, welcome tax or deed tax on that city’s own benchmark price, assuming 20% down and no first-time rebate. Calculated from each province’s published brackets, the same functions behind our land transfer tax calculator. Because each city’s benchmark differs, this ranks the cheque a typical buyer writes, not the rate.

Continue in the Buyer HubFirst-time buyer guides, neighbourhoods and closing calculators

What the market pays a seller

Where the detached and condo segments have split, and what comes out of the sale price before you see it.

Market	Detached vs condo	Context
Vancouver	2.6×	$1,990,000 detached vs $771,000 condo
Calgary	2.5×	$743,900 detached vs $299,000 condo
Victoria	2.4×	$1,301,800 detached vs $553,600 condo
Toronto	2.2×	$1,360,000 detached vs $631,000 condo
Ottawa	1.9×	$725,000 detached vs $385,500 condo
Winnipeg	1.6×	$454,264 detached vs $290,522 condo
Montreal	1.5×	$649,000 detached vs $435,000 condo
Halifax	1.5×	$610,000 detached vs $420,000 condo

How many times the condo benchmark the detached benchmark costs, from the same board release in each city. A wide spread means the two segments are effectively separate markets and need separate comparables.

Sale conditions, where a board publishes them

Days on market and sale-to-list tell a seller what the market is doing to asking prices. Of the eight boards we track, only TRREB publishes at community level, so Toronto is the only market where we can show it.

Sales

1,158

Across 25 communities

Days on market

Sales-weighted average

Sale to list

99.2%

Under 100% means buyers negotiated

Sales to new listings

32%

3,652 new, 1,808 active

TRREB Community Housing Market Report, 2026 Q1. These figures sum the 25 TRREB communities that our Toronto neighbourhood guides map, not TRREB’s city-wide release, so they describe those communities rather than the whole board area. Days on market and sale-to-list are weighted by sales. TRREB suppresses any cell with two or fewer transactions. See the neighbourhood breakdown.

Continue in the Seller HubCommission by province and what you actually net

What the rent covers

Sitting rents, CMHC vacancy, gross yield on the benchmark, and the property tax drag underneath it.

Market	Gross yield	Context
Winnipeg	4.6%	$1,550 rent, 2.8% vacancy, $5,059 tax
Ottawa	4.4%	$2,300 rent, 3.0% vacancy, $7,780 tax
Calgary	4.0%	$1,900 rent, 5.0% vacancy, $3,586 tax
Halifax	3.9%	$1,826 rent, 2.7% vacancy, $6,576 tax
Montreal	3.8%	$2,050 rent, 2.9% vacancy, $4,932 tax
Toronto	3.4%	$2,700 rent, 3.0% vacancy, $7,244 tax
Vancouver	3.4%	$3,150 rent, 3.7% vacancy, $3,407 tax
Victoria	2.2%	$2,120 rent, 3.3% vacancy, $5,617 tax

Annual two-bedroom rent over the benchmark price. This is the gross figure before vacancy, property tax, insurance and maintenance. It is not a cap rate, and it is not cash flow. Run the deal in the cap rate calculator or the cash flow calculator, both preloaded with these city figures.

Continue in the Investor HubCap rate and cash flow calculators by city

City reports

Each market in full: what the board reported, what it means for buying, selling and renting there, and which hub answers the next question.

Victoria Market Report

VREB, August 2026 Core HPI / July Greater Victoria SF

$1,170,200−0.6%

Vancouver Market Report

Greater Vancouver Realtors, June 2026

$1,099,100−6.0%

Toronto Market Report

TRREB, June 2026

$940,800−5.4%

Montreal Market Report

APCIQ, June 2026

$649,000+3.5%

Ottawa Market Report

OREB, July 2026

$634,000−0.5%

Calgary Market Report

CREB, July 2026

$569,200−2.0%

Halifax Market Report

NSAR Halifax–Dartmouth MLS HPI, July 2026

$557,3000.0%

Winnipeg Market Report

Winnipeg Regional Real Estate Board, July 2026

$408,020+2.3%

Sources

Every board and dataset behind these eight reports.

Each market is reported by its own board, on its own schedule, using its own measure. Vacancy is CMHC's for the metropolitan area. Where we hold a link to the release it is linked; where we do not, the release is cited by name rather than guessed at.

Toronto pricesTRREB, June 2026
Vancouver pricesGreater Vancouver Realtors, June 2026
Calgary pricesCREB, July 2026
Montreal pricesAPCIQ, June 2026
Ottawa pricesOREB, July 2026
Halifax pricesNSAR Halifax–Dartmouth MLS HPI, July 2026
Victoria pricesVREB, August 2026 Core HPI / July Greater Victoria SF
Winnipeg pricesWinnipeg Regional Real Estate Board, July 2026
Vacancy, all marketsCMHC Rental Market Report, October 2025
Community-level Toronto activityTRREB Community Housing Market Report, 2026 Q1
National price contextCREA National Price Map (2026)

Where these numbers come from

And, just as importantly, which ones we leave out.

Prices come from each city’s own real estate board. That means the measurements are not identical: Toronto, Vancouver, Calgary, Ottawa, Halifax and Victoria report an MLS benchmark or HPI, Montreal reports medians through APCIQ, and the Winnipeg Regional Real Estate Board reports averages. A median and a benchmark answer different questions, so every table on this site labels which one it is showing rather than stacking them as if they were the same number.

Rents are market asking rents. Vacancy is CMHC’s purpose-built rate for the metropolitan area named on each report page, which is almost always wider than the city itself. A CMA average can hide a university neighbourhood at 4% and a downtown at 1% in the same figure. Property tax is the city’s own residential rate applied to its own benchmark.

Unit sales, new listings, months of inventory and sales-to-new-listings are the metrics a monthly market report usually leads with. We publish them for Toronto only, because TRREB is the one board of the eight that releases community-level activity. For the other seven we leave the row out rather than estimate it. If a number is missing from one of these pages, that is deliberate.

Board data, then someone who transacts in it

These reports tell you what each market did last month. An agent who closes there tells you what it means for the offer you are about to write.

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