Just Released: Q1 2017 Royal LePage House Price Survey

Just Released: Q1 2017 Royal LePage House Price Survey

The full Royal LePage House Price Survey for quarter one 2017 is out.

Below are some of the key highlights from the house price survey.

• Canada’s residential real estate market saw substantial price growth in the first quarter of 2017.
• While most of Canadian housing markets posted modest gains, much of Ontario outpaced the rest of the country.
• In the first quarter of 2017, the median price of a home in Canada increased 12.6 per cent year-over-year to $574,575.
• Broken out by housing type:
• Two-storey home rose 13.9 per cent year-over-year to $681,728
• Bungalow climbed 10.9 per cent to $490,018
• Condominium increased 8.9 per cent to $373,768

• Strong economic improvement is underway in Quebec. The province’s economic performance is being reflected in its residential housing market which has displayed healthy home appreciation in recent months.
• With the recent stabilization of oil prices, Alberta will likely be the fastest growing provincial economy this year. This positive momentum has proved supportive of the residential housing market.