The average house price hit $416,584, including townhomes and condos, as sales volumes jumped 5.9 per cent from the month before. That’s likely the result of pent-up demand. Sales were slow over the unusually cold winter, and buyers appear to be playing catch-up. For that reason, CREA warns that the strength in sales may not last long.
In the meantime, the market shows no signs of letting up. And some markets have seen enormous price hikes in recent years, particularly out west. One city out west has seen house prices nearly triple -- up 180 per cent over the past nine years -- and that distinction belongs to Regina. Check out house price changes by city since January, 2005 -- the baseline month for CREA's MLS Home Price Index.