Home prices increased in these 10 Canadian cities this summer

While most cities in Canada are seeing flat or declining real estate prices, some cities saw increases this summer.

The house price index for August 2025, from real estate platform Wahi and Real Property Solutions, a property valuation services company, is out.

The index shows national home price growth was flat year-over-year in August, mirroring July’s trend.

Canada’s most expensive real estate markets, Toronto and Vancouver, continue to be weighed down by weak condo prices, a report on the index stated.

“The Canadian housing market in August was almost a mirror image of July in terms of pricing trends, although the pace of condo depreciation on an annual basis did slow slightly,” said RPS-Wahi economist Ryan McLaughlin. “That said, condo inventory levels remain high in Toronto and Vancouver, and we would expect that needs to change before any meaningful turnaround in pricing trends.”

Some markets, however, posted notable gains in home price growth.

In August, Quebec City continued to lead the 13 major metro areas that were analyzed in addition to the national RPS-Wahi House Price Index.

Prices were up 12 per cent on a year-over-year basis in Quebec City. Local realtors warn of “severe market overheating” and point to an intensifying undersupply issue in the area, where local seller’s market conditions are the strongest on record, according to the report.

In addition to Quebec City, Winnipeg and Regina have shown sustained strength. Since January, Winnipeg has posted double-digit annual price gains, a trend that continued in August with values rising 10 per cent.

Meanwhile, Regina climbed eight per cent year-over-year.

The report suggests population growth is behind the housing demand for both Winnipeg and Regina, contributing to ongoing supply challenges. Winnipeg’s rate of population growth has more than doubled in the last three years.

Montreal, Edmonton, Victoria, Halifax, Ottawa-Gatineau, Calgary and Saskatoon also saw prices climb, according to the index.

The home price index measured declines of four per cent year-over-year in Hamilton, Toronto and Vancouver. The condo segments in Toronto and Vancouver have been strong headwinds for overall price performance in these markets, while Hamilton, a major steel producer and exporter, is particularly vulnerable to tariffs, the report stated.

See the full report here.

Lead photo of Winnipeg: Google Maps