Vancouver remains the most expensive city for houses in Canada and the tenth most expensive city in North America, according to the 2009 Coldwell Banker Home Price Comparison Index, which looks at the prices of 2,200 square foot homes in different markets.

Vancouver’s average price was $1,262,625 (CDN) while Fort McMurray, Alta, beat out Calgary and Edmonton with an average price of $638,000 CDN. Toronto’s average price was $824,347 CDN.

“Despite record-breaking prices in many of Canada’s major markets, these homes are selling, as buyers take advantage of today’s historically low interest rates,” said John Geha, president of Coldwell Banker Canada Operations, who described the type of house surveyed in the study as the “aspirational home.” “These move-up buyers have been a critical component in our resurgent real estate market, and will continue to play a major role in Canada’s recovering economy.”

Charlottetown, PEI, remained Canada’s most affordable housing market with the average price of a 2,200 square foot home at $158,667.