How much home does  million buy across Canada?

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“Those shopping in the $1-million segment are mostly first-time buyers, newcomers and young families who are looking to transition from a rental into home ownership,” he said.

As for the Greater Montreal Area, the average home within the same price bracket has 3.8 bedrooms, 2.4 bathrooms, and 2,226 square feet, exceeding the national average.

Carolyn Forget, a broker at Royal LePage Urban, observed that the pandemic and subsequent real estate boom significantly altered what $1 million could purchase.

“Today, this budget on the Island of Montreal means that you can most often find a good-sized, but not necessarily completely renovated, single-family home in neighbourhoods farther from the centre,” said Forget.

Among Canada’s major urban centres, Greater Vancouver’s real estate market offers the least space for the $1 million price point, with average homes comprising 2.4 bedrooms, 2.0 bathrooms, and 1,187 square feet.

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