The Royal LePage House Price Survey found that on average, Canadian housing prices increased in the fourth quarter of 2013 compared to the same period in 2012.

The report, which was released on Jan. 9, states that the national average cost of standard condominiums increased by 1.2 per cent to $246,530. Major Canadian cities with the most significant increases included St. John’s, Nfld. (9.3 per cent), Winnipeg (7.2 per cent) and Calgary (7 per cent).

Market conditions indicated by the survey, combined with Royal LePage’s 2014 Market Survey Forecast data, suggest a seller’s market is in store for 2014.

“A few short months ago, the country’s housing market emerged from a year-long correctional cycle of dramatically slowed sales volumes. Later 2013 was marked by a transition to buoyant sales volumes and above average price growth,” says Phil Soper, president and CEO of Royal LePage.

“In the absence of some calamitous event or material increase in mortgage financing costs, we expect this positive momentum to characterize 2014. In fact, we expect a market tipped decidedly in favour of sellers for the first half of the year, after which we project a shift to a more balanced market.”

The Royal LePage House Price Survey, which analyzes data in seven different housing categories from more than 250 neighbourhoods across Canada, is produced on a quarterly basis. The company’s Market Survey Forecast is released twice per year.