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TORONTO — Canada’s residential real estate market saw strong, but slowing year-over-year price growth in the fourth quarter of 2017, according to a report by Royal LePage.

The real estate company said that based on data in 53 markets, the price of a home in Canada increased 10.8 per cent year-over-year to $626,042 in the quarter.

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Broken down by housing type, Royal LePage said the median price of a two-storey home rose 11.1 per cent year-over-year to $741,924, and the median price of a bungalow climbed 7.1 per cent to $522,963.

But the company said in its report released Wednesday that the median price of a condo grew faster than any other housing type studied, rising 14.3 per cent to $420,823 on a year-over-year basis due to gains in many of the largest markets.

In the Greater Toronto Area, the median price of a condo grew 19.5 per cent year-over-year to $476,421, while in the City of Toronto, the cost of a condo rose 19.6 per cent to $515,578.