For Sale: Condos Around Canada for Under $500,000

By Josh Sherman | 4 minute read

From coast to coast, Wahi has rounded up 10 homes that would have major appeal on Airbnb, or as a personal vacation property.

For much of the past year, the benchmark price of a Canadian condo has been hovering around the half-million mark after nearly cracking the $600,000 ceiling during the pandemic.  According to the most recently available monthly data from the Canadian Real Estate Association, the benchmark price of a condo in Canada dipped to $526,000 in January, continuing the general trend of multi-family home values remaining in this range. But a $500,000 condo in Calgary looks very different from one in Vancouver. Or Hamilton. Or Toronto. Or any number of Canada’s local housing markets. 

To illustrate this pricing point, we’ve scanned the Wahi listings for condos listed just under $500,000, slightly short of the national average benchmark price (note that list prices don’t provide a complete picture of what a home will sell for). Keep scrolling to see what condos for sale around Canada for under $500,000 look like.

1. 1609 615 6 Avenue SE, Calgary

List Price: $499,900
Features: 2 Beds + Den, 2 Baths
About the Condo: A desirable corner unit with multiple bedrooms in Calgary’s downtown doesn’t have to come with an unattainable sticker price. Case in point: Unit 1609 at Verve Condominiums, a dwelling that is priced to move (or attract a lot of bids).

2. 703 1010 6 Street SW, Calgary

List Price: $425,000
Features: 1 Bed, 1 Bath
About the Condo: Geared towards investors, the listing for this 574-square-foot unit notes it’s located in a building that allows short-term rentals, though homebuyers should check with building management before making a decision based on Airbnb potential.

3. 602, 615 6 Avenue SE, Calgary

List Price: $499,900
Features: 2 Beds, 2 Baths
About the Condo: Another two-bedroom condo in downtown Calgary, here’s a 725-square-foot sixth-floor unit also located within the 25-storey Verve Condominiums development, which boasts a fitness studio, lounge, and terrace with outdoor cabanas.

4. 108, 527 15 Avenue SW, Calgary

List Price: $449,900
Features: 2 Beds, 2 Baths
About the Condo: High-rise living isn’t for everyone. Nestled in the four-storey Conservatory building, here’s a charming, redesigned home with stained-glass windows and roughly 850 square feet of living space in Calgary’s beltline neighbourhood. The secondary bedroom has a murphy bed to maximize space.

5. 608 Richmond St #803, Toronto

List Price: $499,000
Features: 1 Bed, 1 Bath
About the Condo: Located within the Harlowe, a recently built condo building that channels the spirit of a classic brick-and-beam loft, this approximately 500-square-foot unit has unit has the character of a much older unit — warehouse-style windows, exposed concrete — without the maintenance issues that can come with living in an actual heritage building.

6. 22 Leader Ln., Unit #316, Toronto

List Price: $469,000
Features: 1 Bed, 1 Bath
About the Condo: Because this unit is located within the King Edward Hotel building — which is more than 120 years old and has been split up to include both private dwellings and hotel suites — residents can access uncommon amenities like room and housekeeping services, as well as a gym, spa, meeting rooms, and more.

7. 308 815 Fourth Ave., New Westminster, B.C.

List Price: $499,000
Features: 2 Beds, 1 Bath
About the Condo: It’s no secret that Vancouver is one of the most expensive condo markets in the world. However, looking towards the fringes of the Metro Vancouver area, there are perfectly nice units listed for less than $500,000. This renovated unit costs about $631 per square foot and has a wraparound balcony and upscale finishes, though not everyone will appreciate the fact that the laundry unit is shared down the hall.

8. 189 Keefer St., Unit 811, Vancouver, B.C.

List Price: $499,000
Features: 1 Bed, 1 Bath
About the Condo: Despite sky-high prices, you’ll still find condos listed in the sub-$500,000 range in Vancouver proper. You’ll just have to make some sacrifices — for instance, the above unit is limited to 462 square feet.

9. 5959 Spring Garden Rd., Unit 811, Halifax, N.S.

List Price: $499,900
Features: 3 Beds, 2 Baths
About the Condo: Halifax isn’t known as a condo hotspot like Toronto or Vancouver, but that presents certain advantages for homebuyers. For instance, despite being priced around the average for a Canadian condo unit, this one’s far and away the largest on this list at 1,221 square feet.

10. 5221 Nora Bernard St., Unit #215, Halifax, N.S.

List Price: $440,000

Features: 1 Bed, 1 Bath

About the Condo: The Spice Condos — the mid-rise Halifax condo building in which you’ll find this unit — certainly lives up to its name. But beyond the building’s vibrant multi-coloured exterior and lobby, you’ll find more subdued units like this approximately 720-square-foot suite that provides a clean slate for homebuyers on a budget.