Canadian housing prices rise in third quarter: Royal LePage

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TORONTO, Ont. – It’s another strong year so far for the Toronto real-estate market.

Royal LePage said Canada’s housing market saw prices rise in the third quarter, concealing signs of moderating prices in some regions.

The report found the average price for a detached bungalow rose by nine-and-a-half per cent over the past year to $518,000.

Prices for a standard two-storey home have gone up by seven-and-a-half per cent to $620,000.

Condo prices were up on average by six per cent to $351,000.

The Toronto real estate market continues to deal with bidding wars on some properties, as the number of homes for sale has not kept up with demand — that’s an across-the-board situation with even million-dollar-plus homes seeing multiple bids.

Nationally, real estate prices were up by between five-and-a-half to almost eight per cent, fuelled by low interest rates and a relatively steady economy.

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