House prices continued to soar in June, averaging a record $335,180 in sales via multiple listing services operated by real estate boards in 24 major Canadian markets.

That figure was up 10.4 per cent from June 2006, the Canadian Real Estate Association said Wednesday.

Major-market MLS transactions tracked in the association's monthly survey account for about 80 per cent of all Canadian resale volume, CREA chief economist Gregory said.

Sales surpassed all expectations in the first half of 2007 and seem headed for a full-year record despite higher interest rates and a "gradual erosion of affordability" as prices get beyond people's reach, he told CBC Online.

In June, average prices reached the highest monthly levels on record in Victoria, Regina, Saskatoon, Winnipeg, Kitchener, Ottawa, Montreal and Halifax, the CREA report said.

The highest average prices were in Greater Vancouver ($564,702), Calgary ($427,205) and Toronto ($381,963), the report said.

The lowest were in Quebec's Mauricie region, including Trois-Rivières ($113,821).

 

source: Canadian Real Estate Association

Major market MLS average prices, June 2007
Market       Price Year-to-year % change    
Calgary     $427,205       16.4

Durham Region

     $271,394        2.1

Edmonton

     $350,357       37.8

Halifax-Dartmouth

     $225,467       12.0

Hamilton-Burlington & District       

     $269,676        7.7
Kitchener-Waterloo     $256,588        8.5
London and St. Thomas     $204,500        4.8
Mauricie (Trois-Rivières)     $113,821        5.5
Montreal     $235,087        5.4
Ottawa     $279,361        7.3
Outaouais (Hull)     $181,200        9.5
Quebec City     $164,298        7.2
Regina     $169,729       23.9
Saguenay-Lac Saint-Jean     $127,079       19.5

Saint John

     $144,769       13.5

Saskatoon

    $252,444

   57.2

St. Catharines and district

     $219,857    5.2

Newfoundland and Labrador

     $152,641   15.1

Sudbury

     $184,986   28.7

Thunder Bay

     $120,150   -7.2

Toronto

     $381,963     6.7

Greater Vancouver

     $564,702    11.1

Victoria

     [not available]  [not available]    

Windsor-Essex

     $164,317 -2.0
Winnipeg     $185,447  16.1