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Canada Housing Market: National Snapshot and Reports by City | September 2026

Updated

This is the starting point for wealthnorth.ca’s housing market reports: the national picture from the Canadian Real Estate Association (CREA), the latest benchmark and average prices for each province, and a report for each major city and region, each built from that area’s own real estate board release.

National housing market snapshot, September 2026

CREA’s national figures for September 2026, released October 16, 2026:

MeasureSeptember 2026
National average sale price$666,538 (-1.6% year over year)
MLS HPI composite benchmark$651,400 (-3.4% year over year)
Sales-to-new-listings ratio48.8%
Months of inventory4.9

National months of inventory were below CREA’s long-term average of 5 months. CREA treats a reading below 3.6 months as a seller’s market and one above 6.4 months as a buyer’s market, and a sales-to-new-listings ratio between 45% and 65% as broadly balanced. The buyer’s, seller’s and balanced market guide explains both measures and their limits.

A national average combines markets with very different price levels, so the province and city figures below say more about any one place. The average house price in Canada page compares averages across provinces and cities and over time, and the price-to-income ratio analysis sets the national average against household incomes.

Home prices by province

ProvinceMLS HPI benchmarkYear over yearAverage sale priceYear over year
British Columbia$868,900-4.7%$924,279-2.4%
Alberta$508,500-0.4%$528,5564.8%
Saskatchewan$376,7002.8%$350,1913.7%
Manitoba (September 2026)$388,2003.4%$415,3084.5%
Ontario$736,300-3.9%$791,691-4.3%
Quebec$537,1001.1%$556,1620.9%
New Brunswick$341,7002.7%$346,5101.6%
Nova Scotia$423,200-2.5%$463,3121.2%
Prince Edward Island$377,9000.5%$409,9251.4%
Newfoundland and Labrador$355,6005.5%$372,6337.0%

September 2026 unless the row says otherwise. Provincial REALTOR association releases and CREA’s MLS HPI data.

Housing market reports by city

British Columbia

Alberta

Saskatchewan and Manitoba

Ontario

Quebec

Atlantic Canada

How these reports are built

Each city report uses the latest release from the local real estate board, or from CREA’s statistics page for that board, and shows the month (or, for Gatineau, the quarter) each figure is for. Boards publish on their own schedules, so two reports can show different months. Three price measures appear, and they are not interchangeable:

  • MLS® HPI benchmark price: the estimated price of a typical home with fixed characteristics, from the MLS Home Price Index. Because the home being priced stays the same, it shows the trend in prices more cleanly than an average does.
  • Average sale price: total dollar value of sales divided by the number of sales. It shifts with the mix of homes that sold, so a month with more detached sales raises it even if no home became more expensive. Where a board publishes its dollar volume and sales but no all-types average, the report computes the average from those two totals and says so.
  • Median sale price: the middle sale of the month. Fewer boards publish it.

Not every board publishes all three. Some publish benchmarks by home type, some only averages, and a few report regional totals that cover several cities. Each report names its board and the measures that board provides.

Market conditions are described with months of supply (or months of inventory: listings divided by monthly sales) and the sales-to-new-listings ratio, read against CREA’s thresholds in the national snapshot above.

The income needed to buy at a city’s benchmark or average price is computed the same way on every report: the minimum down payment (or 20% down), mortgage default insurance where it applies, a lender’s stress test qualifying rate, and the CMHC limit of 39% of income for housing costs. The income needed to afford a home page sets out the method and runs it for any price. Land transfer taxes, which differ by province and in Toronto by city, are on the land transfer tax calculator pages.

More housing data

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Sources

The figures and rules on this page come from these sources, last checked against them between September 25, 2026 and October 25, 2026. How we check facts.