Canada's housing market is set to get cheaper and 5 cities are dropping more than Toronto

If you're one of the many Canadians browsing houses for sale or watching the Canadian housing market for a better entry point, this fall might finally bring the break you've been waiting for.

According to the 2025 Fall Housing Market Update from REMAX Canada, average Canada housing prices are expected to drop by 6.5% by year's end. That means more breathing room for buyers — and new opportunities in places you might not expect.

From real estate in Toronto and Vancouver, to up-and-coming cities like Calgary and Edmonton and even smaller spots like Sudbury and Saskatoon, housing markets across Canada are showing signs of softening.

And while Toronto real estate is still cooling off, several other surprising cities are on track to see even bigger price drops — and that could mean serious opportunity for savvy buyers this fall.

Whether you're considering a move to the West Coast or checking out more affordable options in places like Ottawa or Edmonton, the housing market in Canada is shifting fast.

REMAX says inventory is up, sales are down and conditional offers are back on the table — all signs of a classic buyer's market. Meanwhile, nearly 65% of housing markets in Canada saw year-over-year sales drop in the first half of 2025 — and that slowdown is expected to continue right through to 2026.

Buyers are regaining power, and sellers are finally adjusting expectations. If you've been holding off, this could be your chance to explore Canada real estate with a bit more leverage than we've seen in years.

So, which cities are leading the price-cut pack?

Toronto, ON

Canada's largest real estate market is expected to end 2025 with an average home price of $1,044,639 — a drop of 4% from earlier this year.

Currently, sales are down nearly 12% from last year, and listings are up by over 16%, giving buyers more breathing room than we've seen in years. According to REMAX, the city remains firmly in a buyer's market.

But Toronto's decline isn't anywhere near the biggest in Canada.

Greater Vancouver, B.C.

Out west, the Greater Vancouver Area is set for a major correction. REMAX forecasts a whopping 15% drop by the end of 2025, bringing the average price down to $2,110,550.

The region already saw a 6.3% dip in the first half of the year. Sales are down by a steep 21%, while listings climbed nearly 20% — a combo that has pushed Vancouver deep into buyer territory.

While still the most expensive market in the country, if you're dreaming of a move out west, this fall might be your best bet.

Grand Bend, ON

A rare example of a small town with a big drop, this charming lakeside spot in Ontario is seeing one of the steepest declines in Ontario this year. Grand Bend's average home price is expected to drop by 5% this fall — down to $821,746, according to REMAX.

Sales have plummeted by more than a third, and listings are actually down too, but that hasn't stopped prices from sliding. With fewer people buying into the vacation-town dream right now, this might be the right time to snag a deal.

Kitchener–Waterloo, ON

Kitchener–Waterloo, a tech-friendly region with a fast-growing population, is expecting a 5% decline in average prices this fall. That would bring the year-end estimate to about $716,650.

REMAX reports that sales dropped by over 10% over the last year, while listings were up 8%, pushing the region into a buyer's market. If you're looking for a good mix of urban energy and suburban affordability, K-W is one to watch.

Durham Region, ON

The Durham Region — an area in the east end of the GTA which includes cities like Oshawa, Whitby and Ajax — is forecast to see a 5% price drop too. That would bring the average down to around $855,085.

The region has experienced a fairly typical GTA market pattern this year: lower sales (down 11%) and higher listings (up 14%). For buyers who want to stay close to Toronto without paying big-city prices, Durham might offer the right balance.

Windsor, ON

Windsor isn't crashing — but it is cooling. REMAX expects a 4% decline, same as Toronto, but here, that'll bring the average home price down to $552,172.

Listings have climbed nearly 13% since the start of the year, and while sales dipped slightly, Windsor still offers some of the most accessible housing in the province. For first-time buyers or those looking for lower costs, it remains a strong option.

What about everywhere else?

We've broken it down by region, so you can see where your city stands — and which ones might be worth considering if you're on the move. Here's how 34 Canadian markets are expected to move this fall:

Western Canada

• Greater Vancouver: $2,110,550 (↓ 15%)
• Fraser Valley: $1,215,641 (↓ 2%)
• Central Okanagan: $1,150,887 (↑ 3.3%)
• Calgary: $614,557 (↔ 0%)
• Edmonton: $488,029 (↑ 6%)
• Winnipeg: $490,811 (↑ 4%)
• Saskatoon: $369,962 (↑ 3%)
• Regina: $351,901 (↑ 1.5%)

Ontario

• Toronto: $1,044,639 (↓ 4%)
• Mississauga: $1,015,511 (↑ 2%)
• Hamilton–Burlington: $903,463 (↑ 4%)
• Durham Region: $855,085 (↓ 5%)
• Grand Bend: $821,746 (↓ 5%)
• Simcoe County: $839,511 (↑ 4%)
• Brampton: $891,259 (↓ 2%)
• Peterborough: $724,200 (↑ 2%)
• Kitchener–Waterloo: $716,650 (↓ 5%)
• Ottawa: $705,637 (↑ 1.5%)
• Niagara: $672,777 (↑ 2%)
• London: $653,816 (↑ 1%)
• Kingston: $631,916 (↓ 1%)
• Sudbury: $567,225 (↑ 5%)
• Windsor: $552,172 (↓ 4%)
• North Bay: $465,325 (↓ 2%)
• Thunder Bay: $418,946 (↑ 9%)
• York Region: $1,259,478 (↑ 1.3%)

Eastern Canada (Quebec & Atlantic Provinces)

• Ville de Mont-Royal: $952,911 (↔ 0%)
• Halifax: $614,206 (↑ 2%)
• Charlottetown: $427,380 (↑ 2%)
• St. John's Metro: $424,395 (↑ 10%)
• Moncton: $382,627 (↑ 2.5%)
• Fredericton: $378,689 (↑ 1.5%)
• Saint John: $378,268 (↑ 2%)
• Truro: $371,863 (↑ 3%)

Canadians see an opening — and they're ready

With 54% of Canadians now saying it's a good time to "strike a deal" on a home, buyers are stepping back into the ring. Conditional sales are on the rise, and REMAX says we're seeing a boost in inventory that's tilting the scales back in buyers' favour.

Don Kottick, President of REMAX Canada, is calling this fall "a pivotal period, where informed, well-timed decisions will make all the difference for Canadians navigating a shifting market."

Whether you're trying to enter the market for the first time or looking to relocate, this fall might just be your window — especially if you're willing to look beyond the biggest cities and into places that are dropping harder than Toronto.

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