Record high home Prices in January

Tuesday, February 18th, 2003


The average price of a home sold by MLS realtors in 25 major markets across the country set a record for January, the Canadian Real Estate Association said yesterday.

Fuelled by new sales highs in Calgary, Toronto and Montreal, the average price rose to $207,378, up 9.8 per cent from January 2002.

Greater Vancouver also experienced strong results over the month, with the average price up 12.1 per cent, to $312,828.

The area also posted an increase of 4.4 per cent over the previous year in new listings for January, with 3,980.

Across the country, however, the number of homes sold in January this year fell to 17,552, a decrease of 13.3 per cent from the 20,236 sold last year in January,it said.

The average prices in Calgary (up 10.4 per cent), Toronto (up 7.0 per cent) and Montreal (up 15.6 per cent) were $208,999, $281,292 and $150,511, respectively.

“Resale housing activity is still going strong,” Pierre Beauchamp, CEO of the association, said in a statement.

© Copyright  2003 The Province

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