Skip to content

Can you buy a home in Metro Vancouver for under $200,000?

The answer might surprise you.
cheap-homes-street
Vancouver real estate prices are climbing but Alberta real estate has seen a substantial drop in prices in 2022 in cities like Edmonton and Lethbridge.

If you're looking to buy a home in the City of Vancouver for under $200,000, you are completely out of luck. 

But according to a new report, locals looking outside of city limits may have some options — but they will have to be a little flexible. 

Point2, an international real estate search portal, notes that only 10 per cent of all homes currently on the Canadian market are priced under $200,000.

The report also shows that 38 of Canada’s 50 largest, most expensive cities — which are all in Ontario and British Columbia — showcase zero listings for less than $200,000. 

Only one larger city, Kawartha Lakes in Ontario, has more than 1 per cent of all homes listed below $200,000.

On the other end of the spectrum, populous cities across the Prairies have the most homes that cost under $200,000, particularly Edmonton, with 1,300 homes, and Regina, with 400.

If you're looking to find a dwelling for purchase in B.C. in a larger city, your best bet is Surrey. That said, the pickings are markedly slim, with only 0.46 per cent of the listings selling for under $200,000. The choices are fewer in Abbotsford, with only 0.26 per cent of listings asking for under $200,000. Richmond also has a few options — with an emphasis on few: a meagre 0.17 per cent of listings are asking for under $200,000. 

british-columbia-home-prices
Photo via Point2

 

real-estate-listings-in-bc.jpg
Photo via Point2

Real Estate across Canada

Folks who are willing to settle in the Prairies have numerous affordable options. In Regina, 36.50 per cent of its listings are for under $200,000, while Edmonton has 25 per cent of them for under 200k. 

Other cities with significant shares of homes for sale for $200,000 or less are: Lethbridge, AB (26.10%), Saskatoon, SK (23.47%), Winnipeg, MB (23.45%), Red Deer, AB (22.80%), and Airdrie, AB (8.43%).

In Atlantic Canada, 44 per cent of properties in Cape Breton, Nova Scotia are asking for under $200,000.

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks