These Are the Most Expensive Cities in Ontario for Real Estate: 2022 Report

Ontario

2019 to 2021 saw modest growth in Ontario, and the past year in 2022 has seen even bigger increases. “Demand has been off the charts,” says  Realtor Sean Findlay owner of Findlay Real Estate | Century 21 “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 Amandalyn Findlay of Findlay Mortgages

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 2022 continues.

When it comes to living in Ontario, there’s no denying that there are some areas that are more expensive than others, with prices changing drastically from region to region.

And yet, despite the unprecedented economic crisis brought on by the pandemic, Ontario’s housing market is showing little signs of slowing down. In fact, HelloSafe — an insurance comparison platform — reported that “Ontario’s real estate prices increased faster between March 2020 and March 2021 than in British Colombia (29.9% vs 20.2%) – “which proves Ontario’s housing market dynamism despite the gloomy circumstances of COVID-19.”

As you can imagine, regions are now seeing vastly different real estate prices in the wake of the pandemic. And, if you’re curious which of Ontario’s cities are the most expensive to buy a home, HelloSafe has rounded up the top cities where real estate prices are currently the highest in Ontario.

Unsurprisingly, the great majority of them (except Ottawa) are located near, or in, the Greater Toronto Area (GTA).

These Are the Most Expensive Cities in Ontario for Real Estate- Chart

Most Expensive Cities Ontario/HelloSafe

According to HelloSafe, Oakville-Milton is currently the most expensive area to buy a home in the province, with the average transaction price hitting $1,335,200 in March 2021, a 20% year-over-year increase from March 2020, when the prices were an average of $1,113,200.

This is followed by the Toronto-area, where the transaction price in March was $1,102,804 — a 21.8% year-over-year increase. On the other hand of the ranking, Sault Ste. Marie came out in the final spot, with an average transaction price of $257,955 — up 24.3% year-over-year.

The most expensive cities in Ontario for real estate:
1. Oakville-Milton
2. Mississauga
3. Toronto
4. Durham Region
5. Hamilton-Burlington
6. Orangeville
7. Guelph & District
8. Kitchener-Waterloo
9. Ottawa
10. Greater Sudbury
11. Thunder Bay
12. Sault Ste. Marie

While Ontario is known for being expensive for real estate with average prices sitting at $890,035 in March, the province still isn’t as pricey as British Columbia, where the average price reached $945,936 in March — a $55,901 difference from Ontario.
However, HelloSafe noted that prices in Ontario are still above the Canadian average of $716,828. In comparison, it’s almost twice as expensive to buy a house in Ontario than in Nova Scotia, where the average price was $362,988 in March.

ONTARIO
CITY	HOUSE TYPE	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%

Methodology: HelloSafe used data from CREA and the data is accurate at the time of publication.

For more information, questions or inquiries contact Realtor Sean Findlay

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Sean Findlay – Professional Realtor | Sales Representative | Real Estate Digital Marketing Specialist

– Proudly Specializing in Toronto, Stoney Creek, Hamilton & GTA Real Estate –

Toronto, Mississauga, Brampton, Milton, Oakville, Burlington, Stoney Creek, Grimsby, Hamilton, Niagara Falls.

CENTURY 21 Millennium Inc., Brokerage * Office: 905-450-8300 or Toll Free: 1-888-450-8301 | Fax: 905-450-6736

Toronto Office Located: 181 Queen St E Brampton, ON L6W 2B3 (by Appointment Only)

Stoney Creek Office Located: 280 Barton St, Stoney Creek, ON L8E 2K6 (by Appointment Only)