Each month, the Canadian Real Estate Association compiles statistics of existing homes and properties sold. For May, the average price of a house sold in Canada was $318,761, an increase of 1.8 percent over the year. The residential average price is forecast to rise 5.3 percent in 2008 and a further 4.2 percent next year, pushing prices to new heights. Price gains are predicted to become smaller as the resale housing market becomes more balanced. The market is forecast to remain tightest in Saskatchewan and Manitoba, and as a result price increases there are expected to be biggest.

House Prices In Canada
May 2008

Province House Price $ 12 Month % change
Nova Scotia 202,569 8.2
Prince Edward Island 126,661 -0.2
New Brunswick 152,823 7.5
Newfoundland & Labrador 170,999 20.8
Quebec 219,886 3.7
Ontario 316,103 4.1
Manitoba 203,671 12.9
Saskatchewan 233,340 34.9
Alberta 360,284 -0.9
British Columbia 477,448 6.3
Northwest Territories 331,939 4.9
Yukon 304,871 17.8

2 Jul 2008