April 18, 2017 10:41 am
Updated: April 18, 2017 10:44 am

Canadian home sales hit record high in March, with gains in over half of local markets

Home sales in Canada hit a fresh high in March, according to the Canadian Real Estate Association.

Jonathan Hayward/CP

The Canadian Real Estate Association says home sales last month hit a record high.

The association says home sales over its Multiple Listings Service system increased by 1.1 per cent in March to top the previous monthly record set in April 2016.

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Sales were up on a month-over-month basis in more than half of the local markets measured, led by Greater Vancouver and the nearby Fraser Valley region in B.C. as well as London, Ont., St. Thomas, Ont. and Montreal.

Compared with a year ago, sales were up 6.6 per cent as gains in the Greater Toronto Area led the way.

The actual national average price for homes sold in March this year was $548,517, up 8.2 per cent from a year ago.

Excluding Greater Vancouver and Greater Toronto, the average price was $389,726.

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© 2017 Global News, a division of Corus Entertainment Inc.

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