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October 19, 2010

Today the Royal LePage House Price Survey was released, and the news looked good!

According to the report, home prices in the year’s third quarter saw growth just shy of under five per cent, year over year. Is that balanced?

Average price of a Canadian bungalow in the three-month period ending in September? $324,531 – up 4.6 per cent from a year earlier.

Average two-storey? $360,329 – up 4.4 per cent.

Average price of a condo? $226,481 – up 3.9 per cent.

Look out Vancouver! Vancouver has the highest-price housing market in the country, with an average bungalow price of $873,500.

According to the news-release, “House price appreciation slowed to a more modest five per cent in the quarter, which is historically typical of balanced real estate markets.”

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