Edmonton ranked fourth and Calgary seventh among 26 Canadian markets.
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Western Canadian cities are seeing among the strongest price appreciation so far this year, a new study shows.
Edmonton, Calgary, Winnipeg and Saskatoon all ranked in the Top 10 markets for year-over-year increases in benchmark pricing for single-family detached homes, year to date ending June 30, a recent Zoocasa study found.
Edmonton fared best, ranking fourth among 26 Canadian markets. Its benchmark grew from $421,000 at the start of the year to $462,100, an increase of 9.8 per cent.
It trailed three Ontario cities: North Bay, Sault Ste. Marie and Sudbury.
Measuring year-to-date growth for benchmark price, North Bay held top spot, seeing its price rise 12.8 per cent from January to June, reaching $423,700.
In second, Sault Ste. Marie’s benchmark increased 12.6 per cent to $305,000 while Sudbury’s benchmark for a single-family detached home was up nearly 10.8 per cent to $475,900.
Winnipeg, in fifth spot, saw its benchmark rise nine per cent to $383,000, while in sixth, Saskatoon’s benchmark increased 8.4 per cent to $463,100.
In seventh, Calgary’s single-family detached home benchmark grew 8.3 per cent to $690,900.
Nationally, the benchmark increased 3.8 per cent to $808,700 from January to June of this year.
All 26 cities in the study saw price growth for single-family detached homes over the six-month span.
Greater Vancouver was in 14th spot with a six per cent rise in benchmark price, reaching $2,057,600 — the highest price among Canadian cities.
The Greater Toronto Area ranked 19th with its benchmark price growing 5.2 per cent to $1,343,400. It was the third most costly market behind Vancouver and the Fraser Valley.
That market ranked 23rd in the survey, seeing its benchmark price rise 3.8 per cent to $1,465,300.
Saint John, N.B., was the least costly community in the study with respect to benchmark price. Its benchmark was $304,100 in June, up 7.5 per cent from January, ranking it eighth among cities for largest percentage increases.