Townhouses supply the very best of each worlds: more room and bedrooms than flats, both with comparable facilities and upkeep, equivalent to shared widespread areas like underground parking, gyms, or playgrounds, or all the pliability of a freehold property. They are often notably interesting to the first-time homebuyer, because the benchmark worth for a townhouse in Canada is $664,400. Plus, 50% of the markets surveyed amongst 20 main markets have a benchmark worth of $500,000 or much less. 

Having fun with our content material? Subscribe to our free weekly publication to get actual property market insights, information, and stories straight to your inbox.

Zoocasa analyzed the benchmark prices of townhouses all through Canada, the required down funds, and their appreciation charges over the previous yr. In the event you’re contemplating a townhouse, these are the markets to observe. 

Benchmark dwelling costs had been sourced from the Canadian Actual Property Affiliation (CREA). CREA contains each condominium and freehold townhouses within the benchmark dwelling worth. Minimal down fee quantities had been calculated primarily based on 5% of the acquisition worth for properties valued at $500,000 and underneath, 10% for the parts of dwelling costs between $500,001 – $999,999, and 20% for properties priced at $1 million and over.

The place to Discover the Finest Townhouse Offers in Canada Proper Now

Pricing for townhouses stays secure in a number of markets, together with Ottawa, Higher Toronto, Victoria, Hamilton–Burlington, Kitchener–Waterloo, Niagara Area, Windsor-Essex, and Regina, with lower than a 2% improve or lower. This stability provides patrons confidence of their monetary planning, and sellers could also be extra prepared to barter on worth or different phrases to shut a deal. 

Equally, six cities supply benchmark townhouse costs underneath $350,000. The benchmark townhouse in Quebec is $326,300, carefully adopted by Saskatoon at $320,800. 4 markets have townhouse costs effectively under $300,000: Winnipeg at $283,500, Saint John at $275,200, Edmonton at $245,900, and Regina at $225,600. General, these markets will be particularly interesting for first-time homebuyers or traders, notably as a result of 4 noticed important year-over-year will increase starting from 8 to 12%. 

And when you’re nonetheless saving to enter the actual property market – contemplate the cities the place you want lower than $20,000 for a down fee on a townhouse: Quebec, Saskatoon, Winnipeg, Saint John, Edmonton, and Regina.  

Townhouses for Sale Underneath $500K in Spring 2024

20% of the analyzed markets had townhouses priced between $400,000 and $500,000. The benchmark value of an Ottawa townhouse is $495,000, in London & St. Thomas: $474,200, Calgary: $458,100, and Windsor-Essex: $402,500.

Why Alberta Townhouses are the Funding You Can’t Afford to Miss 

Calgary skilled a major 17% improve in townhouse worth in 2024, probably the most notable improve year-over-year amongst all of the markets analyzed. You should purchase a townhouse in Calgary for $458,100, which might require a $23,000 deposit. Equally, Edmonton additionally noticed important year-over-year features, with a ten.3% improve. Nevertheless, you possibly can nonetheless purchase a townhouse within the Alberta capital with a $12,300 down fee for the benchmark townhouse worth of $245,900. 

Learn why one Ontario couple moved throughout the nation to purchase their first townhouse in Calgary.

In the marketplace for a townhouse? Whether or not you’re planning to relocate or in search of a spot near dwelling, we will help! Give us a name as we speak to talk to a Realtor who will help you discover a townhouse in your required space.