House prices continue to rise in Saskatoon

TORONTO – A new survey has found Saskatoon was one of the top cities in Canada for housing prices during the third quarter of 2013.

Royal LePage found the average price for a standard bungalow rose 5.2 per cent from the same period last year to $366,500.

That placed sixth for markets in the survey, behind Vancouver, Toronto, Calgary, Victoria and Ottawa.

1. Vancouver $1,070,000
2. Toronto $577,563
3. Calgary $465,411
4. Victoria $458,000
5. Ottawa $398,417
6. Saskatoon $366,250

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A standard two storey home rose 7.0 per cent to $399,750, trailing Vancouver, Toronto, Victoria, Calgary, Montreal, Ottawa and St. John’s.

1. Vancouver $1,156,500
2. Toronto $678,016
3. Victoria $462,000
4. Calgary $446,411
5. Montreal $403,007
6. Ottawa $401,500
7. St. John’s $400,333
8. Saskatoon $399,750

There was also a modest upswing in the price of a standard condominium, up 1.1 per cent to $255,000.

Only Vancouver, Toronto, St. John’s, Victoria, Calgary and Ottawa top prices in Saskatoon.

1. Vancouver $503,750
2. Toronto $355,483
3. St. John’s $315,333
4. Victoria $268,000
5. Calgary $263,078
6. Ottawa $259,000
7. Saskatoon $255,000

The average national increase was 4.1 per cent for bungalows, 3.7 per cent for a two storey home and 1.2 per cent for a condo.

According to the survey St. John’s, Toronto, Winnipeg, Saskatoon and Calgary led the country in home price increases.

Royal LePage says its sales volumes surged in a number of regions as buyers entered the market after sitting on the sidelines for more than a year.

With files from The Canadian Press