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Average home price tops $300K in major markets ) c9 ~, d8 H0 K, E
Last Updated Wed, 14 Jun 2006 14:05:59 EDT ! @1 g- f8 p u+ g n6 x
CBC News </news/credit.html>
- M6 ^, n+ J9 [The average sale price of an existing home in 25 of Canada's major markets topped $300,000 in May for the first time ever, according to the latest figures from the Canadian Real Estate Association.
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Home sales are rising faster than new listings
0 \# J7 ]; `6 P1 O3 U t YMultiple Listing Service (MLS) figures show that the average home sold for a record $303,836, up 12.9 per cent from May 2005.
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5 P T% e4 B9 ?# |5 m* OIt was the biggest yearly increase recorded in two years.
/ Y* k- }5 o+ q$ K6 ]The Greater Vancouver area continued to have the most expensive housing in the country. There, the average home resale was $518,176 in May, up 23.7 per cent from the same month a year ago.( |6 r2 C/ ^+ U+ V, I
) T$ T+ O7 u! fRed-hot Calgary experienced the highest year-over-year increase, with the average price for an existing home climbing 43.6 per cent to $358,214.
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! i6 v: ^2 h3 h8 K1 }) I0 f"Recent price increases are resulting in a growing shortage of lower priced resale home listings in a number of markets," CREA chief economist Gregory Klump noted in a statement.
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"This is crimping sales in lower price ranges and pushing up the average price for MLS home sales."
. y, e1 ?6 h" l2 @. ~Overall, sales in the country's major markets rose 4.4 per cent to a record 37,460 units in May. On a year-to-date basis, sales activity broke records in 12 cities across the country.6 Q7 H& T. k3 u3 }& l
+ p4 D N, L' WHere is a sampling of average MLS home prices in May (with year-over-year changes in brackets): 4 r& N N' h! {- P, Q: `" [6 t
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Calgary: $358,214 (+43.6%) V9 v4 D% d- W1 x
Edmonton: $242,936 (+22.9%) 8 j2 [; g: I7 y, a0 H
Halifax-Dartmouth: $210,225 (+7.6%) a+ `8 J5 _! x( I8 }
Montreal: $219,433 (+8.2%)
" d t) J2 Q( L3 O# @' nOttawa: $260,219 (+4.7%) * y5 a0 S. `" t; C& W8 \6 ~
Quebec City: $150,324 (+6.9%)
7 ~2 B" f8 g( b e$ x% xRegina: $142,147 (+10.3%) - k( Z- g% p1 s
Saint John, N.B.: $129,844 (+12.3%) ) N& g& j( \7 O! `, q ]- X% F
Saskatoon: $162,279 (+11.5%) & e. E6 D2 `* ]# k
Nfld. & Lab.: $133,541 (-1.2%) * N1 s% _) I* v
Thunder Bay, Ont.: $118,804 (-9.0%) 4 @3 c6 D& S1 n) Q" D5 ]4 K
Toronto: $365,537 (+5.5%) " y! t. m h3 n' X7 z
Vancouver: $518,176 (+23.7%) 6 T% `" D/ d' n/ {1 P
Winnipeg: $159,801 (+12.5%)
5 C3 p# ]- \& L' W& A. FCanada: $303,836 (+12.9%) |
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