It may not be the values seen in Vancouver or Toronto, but Saskatoon has some of the highest housing prices in the country.
Those numbers were released today by Royal LePage in its house price and market forecast survey of 16 cities for the second quarter of 2012.
“This past year has been a big year for migration to Saskatoon and it’s reflected in our house prices,” said Norm Fisher of Royal LePage Saskatoon Real Estate.
The greatest increase was seen in a standard two-story house, where values rose 7.3 per cent from the same period last year to $379,500.
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The national average increase was 4.7 per cent.
That was the seventh highest average price in the country, ahead of Edmonton, Regina and Winnipeg.
Detached bungalows were up 6.0 per cent to $352,125, slighter higher than the national average increase of 5.5 per cent.
Only Vancouver, Toronto, Ottawa, Calgary and Victoria had a higher average price.
Standard condo prices rose 5.6 per cent to $255,667, sixth highest in the country and higher than Calgary, Edmonton and Montreal.
Condo prices increased 3.3 per cent nationally.
Royal LePage says the strong price appreciation in Saskatoon was being driven by the energy and commodity economy in the region.
Fisher also said inventory in Saskatoon is down, particularly bungalows.
“We are seeing some multiple offers, but the selling price is usually only marginally higher than the list price,” said Fisher.
“Despite the spurred market activity, buyers are being cautious.”
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