the average price of single-detached homes :
$393,223 in Edmonton
Calgary Jan 01 – Jan 23, 2007: Average Selling Price: $412,809 (up 29% from same period 2006) Median Selling Price: $367,000 (up 29% from same period 2006)
In Saskatoon North, the average price of a standard two-storey home rose by 14.0 per cent to $212,000, year-over-year. Detached bungalows rose by 13.4 per cent, to $195,000, while the price of a standard condominium rose by 14.3 per cent to $128,000 over the same period in 2005.
In Saskatoon West, the average price of a standard two-storey home rose by 13.4 per cent, to $178,000, while the average value of a detached bungalow also increased, rising by 13.5 per cent, year-over-year, to $164,000.
In the East End, the average price of a detached bungalow rose by 15.6 per cent, to $200,000, year-over-year. The average price for standard two-storey homes also increased, rising by 11.9 per cent from the same period last year to $225,000.
In East Central, the price of a standard two-storey home rose by 13.9 per cent to $205,000, while a detached bungalow rose by 14.0 per cent to $195,000, year-over-year. A standard condominium also appreciated by 16.5 per cent compared to the same period last year to $120,000
Of the markets examined in Regina, the average price of detached bungalows experienced the greatest increase compared to the other housing types surveyed, rising by 6.9 per cent to $150,375, year-over-year. Standard two-storey homes increased by 3.1 per cent, to $146,500, while the price of a standard condominium rose by 2.1 per cent to $96,500, year-over-year.
National Post writes: The average house price in the greater Toronto area is $356,423, but the GTA is a huge area, covering 86 districts from Burlington to Newcastle and as far north as Orangeville. “When making direct comparisons, it’s important to note that some areas of Canada have different approaches to calculating the average price,” says Dorothy Mason, president of the Toronto Real Estate Board. Toronto covers a huge area and includes all housing types, which drives the average price down.
Thu, January 25, 2007
House-price hike
Price of average ‘Peg home tripled over last 25 years
By ADAM CLAYTON, STAFF REPORTER
The average price of a home in Winnipeg has nearly tripled over the past 25 years but remains low compared with most Canadian cities, according to a new study.
A RE/MAX report on housing values released yesterday shows the average price of Winnipeg homes, including condominiums, increased from $52,656 to $151,983 between 1981 and 2006.
Winnipeg ranked 14 out of 18 major Canadian centres with a 189% gain in average prices during the span, well behind the average national increase of 264%.
Barrie, Ont., had the largest increase at 372%, while Regina had the lowest gain at 140%.
Back in 1981, the average home in Barrie was worth about $1,000 less than the average Winnipeg home. Winnipeg was 15th in terms of the average price of homes in 2006.
Last year saw Winnipeg’s hot real estate market reach record home-selling levels, with $1.87 billion in dollar volume and 12,304 units sold.
Cliff King of RE/MAX Executive Realty in Winnipeg said average prices have increased dramatically in the city since 2000.
High-end homes are helping raise values, with those listed at $300,000 or more accounting for 8% of homes sold last year, according to the Winnipeg Real Estate Board (WREB).
Condominiums have also made a substantial impact on values the past few years, with condo appreciation recently surpassing increases in single detached housing, said King.
Fewer condos
King said Winnipeg has never had a lot of condominiums, partly because houses have been so affordable.
“People buy condominiums in Vancouver and Toronto because they can’t afford a house. Here, that hasn’t been an issue,” he said.
“Now the demand for condominiums is starting to really increase.”
University of Manitoba economist John McCallum said the results reflect how Winnipeg’s economy has grown slowly compared with other major Canadian cities.
“I’m not all surprised by the results because they reflect how this economy has done over 25 years compared to other markets that have had much more robust increases in prices,” he said.
McCallum pointed out that lower housing prices are a good thing for a lot of families.
“If you live here, you can get your family into better housing for a lower price than you can if you’re in Vancouver or Toronto,” he said. “That’s a plus.”
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TRACKING THE TREND
MARKET 1981 – 2006 CHANGE
Barrie $51,665 $244,000 372%
St. Catharines $49,655 $213,032 329%
Hamilton $58,508 $248,400 325%
Ottawa $64,854 $257,481 297%
Montreal $55,004 $215,659 292%
Toronto $90,203 $351,941 290%
Vancouver $148,861 $509,876 242%
Halifax $59,366 $203,178 242%
Victoria $121,648 $400,000 229%
London $57,989 $190,521 228%
Calgary $106,033 $346,673 227%
Kelowna $104,285 $323,978 211%
Moncton $44,338 $130,000 193%
Winnipeg $52,656 $151,983 189%
Edmonton $91,438 $250,915 174%
St. John’s $55,067 $139,300 153%
Saskatoon $64,756 $160,577 148%
Regina $54,915 $131,85 140%
National $76,021 $276,824 264%
