Consumer News 11 August 2021

National Home Prices Spike in 2021 with Atlantic Canada Seeing Unprecedented Increases

Vancouver (August 11, 2021) – House prices across Canada have grown significantly over the past year, particularly in Atlantic Canada and more recreational locations, despite the COVID-19 pandemic. The fifth annual Price per Square Foot survey is being released by CENTURY 21 Canada and shows that real estate continues to be an excellent investment for Canadians. While real estate is most often dependent on the local market, the past year has seen widespread increases in prices from coast to coast.

In its annual, nationwide study, CENTURY 21 Canada compared the price per square foot of properties sold between January 1 and June 30 this year, compared to the same period last year.

“Looking at the prices across Canada, there isn’t one region that hasn’t seen price growth in the past year,” says Brian Rushton, Executive Vice-President of CENTURY 21 Canada. “When the pandemic began in 2020, the market became unchartered territory. But because of low inventory and high demand from buyers looking for a larger space, prices have steadily climbed for the past year, particularly detached homes. Over the past couple of months, that growth has slowed and condo prices have started increasing again– it’s still a seller’s market from Victoria to St. John’s.”

When COVID-19 began to take hold in spring 2020, the belief was that the market would struggle. However, after an initial dip, pent up demand for housing, particularly detached homes, increased prices throughout last fall and earlier this year, in part due to a lack of supply. As evidenced in the data, prices in central major metros have been softer than those in traditionally less expensive markets like Owen Sound and Atlantic Canada.

Rushton says prices have moderated over the past couple of months. “This is typical of what we see through the summer months, but all signs are pointing to another busy fall as inventory across the country continues to be low with plenty of buyers waiting to make a move as soon as they can.”


Regional highlights:

Price Per Square Foot Survey 2021 - Atlantic Canada 


Atlantic Canada has long been seen as the most affordable region in Canada for housing. But over the past year, prices have consistently increased with work from home becoming a viable option for many workers. Halifax has seen the biggest increase in prices, but Charlottetown, Fredericton, Moncton, and St. John’s are all seeing double-digit increases.

“Because we are still affordable, people are flocking here,” says Paul Burns, Manager at CENTURY 21 A&T Countryside Realty. “Between people from Ontario finding that they can afford a home in Atlantic Canada, newcomers increasingly locating here, and locals who want to stay, this region is seeing prices we’ve never seen before.”


Price Per Square Foot Survey 2021 - British Columbia

British Columbia

BC real estate is the most expensive in the country and remains so again this year. Prices in the outskirts of the city saw the largest increase with Chilliwack prices up over 40 percent to $406 per square foot, Delta up 38 percent to $50 per square foot and White Rock/South Surrey up 44 percent to $625 per square foot. Kelowna also saw solid increases with prices up anywhere between 20 and 30 percent, depending on what home type the consumer is choosing.


Price Per Square Foot Survey 2021 - Quebec


Real estate in Quebec has been strong for several years now. Yet again, prices increased significantly since last year, with the price of a detached house in Montreal’s downtown and southwest rising 41 percent to $1350 per square foot while townhouses increased 22 percent to $937 per square foot and condos 16 percent to $935. Over the past five years prices in Montreal have essentially caught up to those in Vancouver and Toronto. “Montreal saw affordable prices for many years, but people saw the value in this city and the cost of a home is now on par with other major cities in the country,” says Mohamad Al-Hajj, owner of CENTURY 21 Immo-Plus in Montreal.


Price Per Square Foot Survey 2021 - Ontario


2019 to 2020 saw modest growth in Ontario, and the past year has seen even bigger increases. Most notably, the prices in Owen Sound and Grey Bruce are up more than 80 percent. “Demand has been off the charts,” says Mike Seiler, owner of CENTURY 21 In Studio Realty. “Our clients are moving up from Toronto now that they can work from home. People are also realizing how much more space you can get once you get out of the metro area.”

Suburbs have all seen double-digit increases in prices, with the highest in those communities that are just a little outside a regular commute. “Now that people are commuting a few times a week rather than every day, they’re willing to be a bit further from their jobs in order to secure a bigger home at a more affordable price,” says Eryn Richardson of CENTURY 21 Heritage Group.

Prices in downtown Toronto condos were actually slightly down for the first six months of the year, but are coming back strong. 2021 started with lower prices than we saw in the initial pandemic, but have increased as the year went on. Ottawa condos were also down year over year but, they too are rebounding as 2021 continues.


Price Per Square Foot Survey 2021 - Prairies


Prairie house prices have seen some growth, although they are the slowest growing areas of the province. Saskatoon homes are up nearly twenty percent to $314 per square foot although condo prices remained flat and Regina properties only saw minor increases in prices. Winnipeg saw the biggest gains with homes up as much as twenty percent to $293 per square foot for a house and $241 per square foot for a condo.

Price Per Square Foot Survey 2021 - Alberta


Many markets in Alberta saw decreases in previous surveys but are up anywhere from three to fifteen percent depending on the city and home type. Like many markets around the country, detached homes have seen the largest increases compared to other home types. Red Deer and High River saw the highest house increases, with prices at $289 per square foot and $271 respectively. Condos in St. Albert are the other standout in Alberta real estate with a nearly 19 per cent increase to $251 per square foot, which is still among the most affordable in the country.


Price Per Square Foot Survey 2021 - Northwest Territories

Even Yellowknife properties have seen an increase in prices. Both houses and duplexes have seen double digit increases while other house types have seen more subtle changes.

“This is the fifth consecutive year we have done this survey and, while previous years showed that real estate is a local story, we have seen widespread increases across the country this year,” says Mr. Rushton. “Real estate is security—both emotional and physical—and after the pandemic people continue to want to invest in the places they want to spend the most time.”

CENTURY 21 Canada’s annual survey of data on the price per square foot (PPSF) of properties gathers and compares sales data from its franchises across Canada from January 1 to June 30 of each year. By looking at the price per square foot at the same time each year the firm is able to get a good idea of how prices have changed over time for similar properties. This year’s survey compares 2020 prices with this year’s results.

Price Per Square Foot Survey 2021 - Top Most Expensive. Price Per Square Foot Survey 2021 - Top Least Expensive


See full PPSF study results below:


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Halifax Condo $223 $291 30.49%
Halifax Detached House $225 $281 24.89%
Charlottetown Detached House $178 $211 18.54%
St. John’s Condo $162 $182 12.35%
St. John’s Detached House $135 $149 10.01%
Fredericton Detached House $123 $147 19.62%
Moncton Detached House $124 $142 14.78%
Saint John Detached House $123 $134 8.63%


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Vancouver, Downtown Condo $1,192 $1,310 9.90%
Vancouver, West Side Detached House $1,004 $1,208 20.30%
Vancouver Detached House $816 $975 19.57%
West Van Detached House $734 $971 32.25%
Vancouver, East side Detached House $672 $877 30.48%
North Vancouver Detached House $690 $794 14.97%
Vancouver, Richmond Detached House $608 $722 18.69%
Burnaby Detached House $579 $688 18.76%
Victoria Condo $615 $659 7.15%
White Rock/South Surrey Detached House $435 $625 43.64%
Delta North Detached House $413 $570 37.88%
Victoria Detached House $488 $558 14.34%
Victoria Townhouse $418 $457 9.33%
Kelowna Apartment $334 $411 22.95%
Chilliwack Detached House $288 $406 40.72%
Kelowna Detached House $280 $368 31.41%
Kelowna Townhouse $302 $365 20.59%
Chilliwack Condo/ Apartment $270 $351 29.84%
Kelowna Half Duplex $263 $320 21.54%
Chilliwack Townhouse $250 $318 27.00%


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Montreal, Downtown and SW Detached House $958 $1,350 40.92%
Montreal, Downtown and SW Townhouse $768 $937 22.01%
Montreal, Downtown and SW Condo $805 $935 16.15%



2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Toronto, Downtown Condo $1,033 $956 -7.45%
Vaughn Detached House $548 $612 11.75%
Markham Detached House $485 $557 14.96%
Hamilton Detached House $406 $532 30.94%
Cambridge Duplex $377 $527 39.79%
Richmond Hill Detached House $522 $520 -0.43%
St. Catharines Bungalow $425 $520 22.35%
Guelph Condo $423 $511 20.80%
Newmarket Detached House $510 $505 -1.04%
Waterloo Condo $411 $503 22.38%
Guelph Detached House $443 $483 9.03%
Kitchener Condo $399 $483 21.05%
Ottawa Condo $577 $479 -16.98%
Niagara Falls Bungalow $395 $475 20.25%
Cambridge Townhouse $341 $474 39.00%
Kitchener Semi-Detached $399 $460 15.29%
Hamilton Townhouse $343 $453 32.13%
Hamilton Apartment/ Condo $370 $453 22.39%
Guelph Duplex $400 $451 12.75%
Cambridge Detached House $388 $450 15.98%
Waterloo Semi-detached $399 $439 10.03%
Cambridge Condo $367 $435 18.53%
Kitchener Townhouse $342 $435 27.19%
Guelph Townhouse $364 $433 18.96%
Kitchener Detached House $400 $430 7.50%
Ottawa Detached House $313 $429 37.06%
Waterloo Detached House $407 $421 3.44%
Bradford Detached House $358 $410 14.45%
Waterloo Townhouse $344 $408 18.60%
St. Catharines Detached House $330 $400 21.21%
Ottawa Townhouse $392 N/A
Niagara Falls Detached House $300 $390 30.00%
Barrie Detached House $350 $378 8.00%
London Detached House $250 $362 44.80%
Grey Bruce Detached House $195 $357 82.87%
Owen Sound Detached House $167 $312 86.77%
Windsor Detached House $210 $295 40.48%


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Saskatoon Detached House $263 $314 19.39%
Winnipeg Detached House $244 $293 20.18%
Brandon Detached House $248 $271 9.01%
Regina Detached House $237 $250 5.35%
Winnipeg Attached $210 $241 14.53%
Winnipeg Condo $223 $234 4.79%
Saskatoon Condo $217 $216 -0.58%
Regina Condo $205 $205 0.18%
Brandon Condo $204 $203 -0.30%


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Calgary House $320 $355 10.94%
Calgary Condo $296 $303 2.36%
St. Albert Detached House $269 $289 7.56%
Red Deer Detached House $252 $289 14.65%
Edmonton Detached House $268 $284 6.17%
Okotoks Detached House $254 $283 11.44%
St. Albert Duplex $278 $280 0.89%
High River Detached House $237 $271 14.34%
Edmonton Duplex $250 $270 7.70%
St. Albert Condo $211 $251 18.92%
Okotoks Condo $211 $219 3.57%
Edmonton Condo $206 $217 5.19%
Red Deer Townhouse $207 N/A
Red Deer Condo $186 N/A
High River Condo $173 $176 1.80%


2020 PPSF
2021 PPSF
% CHANGE 2020-2021
Yellowknife Apartment $347.00 $357.00 2.88%
Yellowknife Duplex $306.00 $343.00 12.09%
Yellowknife Detached House $277.00 $312.00 12.64%
Yellowknife Manufactured $267.00 $290.00 8.61%
Yellowknife Townhouse $265.00 $260.00 -1.89%



For more information please contact:

Shawn Hall, Peak Communicators
(604) 619-7913

Leigh Kjekstad, Director of Brand Engagement, CENTURY 21 Canada


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