04/18/2017 12:04 EDT

Canada's Average House Price Hits $548,517. Here Are The Hottest, Coldest Markets

The average sales price of a home in Canada reached $548,517 in March, up 8.2 per cent in a year.

The average sales price of a home in Canada reached $548,517 in March, up 8.2 per cent in a year.

Most of that strength came from Greater Toronto and southern Ontario, where prices soared in the 30-per-cent range in the past year.

It didn’t come from Vancouver, where the average selling price is down 9.3 per cent from a year ago, according to data from the Canadian Real Estate Association. Sales volumes dropped more than 30 per cent in the city from a year ago, when sales there were already softening.

The hottest market, not surprisingly, was in southern Ontario. Like many places surrounding Toronto, the Niagara region is seeing booming house prices as desperate Torontonians move farther afield in search of an affordable home.

Here are Canada’s hottest and coldest housing markets as of March 2017.

5th hottest: Thunder Bay

Average sales price: $242,478 (up 29%)

Sales volume: Up 10.8%

4th hottest: Hamilton-Burlington

Average sales price: $607,846 (up 30.1%)

Sales volume: Up 20.8%

3rd hottest: Kitchener-Waterloo

Average sales price: $492,815 (up 32.4%)

Sales volume: Up 23%

2nd hottest: Greater Toronto

Average sales price: $916,567 (up 33.2%)

Sales volume: Up 17%

Hottest: Niagara Region

Average sales price: $403,124 (up 34.5%)

Sales volume: Up 30%

5th coldest: Regina

Average sales price: $316,341 (down 0.6%)

Sales volume: Down 3.2%

4th coldest: Quebec City

Average sales price: $256,929 (down 1%)

Sales volume: Down 8.2%

3rd coldest: Newfoundland & Labrador

Average sales price: $251,555 (down 2%)

Sales volume: Down 9%

2nd coldest: Greater Vancouver

Average sales price: $991,690 (down 9.3%)

Sales volume: Down 31.5%

Coldest: Fraser Valley in B.C.

Average sales price: $639,124 (down 11.3%)

Sales volume: Down 26.7%

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