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Prices up for two-storey homes, down for bungalows and condos, in Regina: report
Published Thursday, October 13, 2016 1:03PM CST
Royal LePage says the aggregate price of a home in Regina edged up 0.6 per cent year-over-year to $332,540 in the third quarter of 2016.
Two-storey home prices rose 4.1 per cent to $408,126 in the Queen City, but bungalow prices dipped one per cent year-over-year to $298,584, according to the report released Thursday. Meanwhile, the median price of a condominium unit in Regina fell eight per cent to $253,880.
“We’re seeing that our inventories are back under control in the resale market, especially with regard to single-family dwellings,” Mike Duggleby, a broker and managing partner with Royal LePage Regina Realty, said in a news release.
“We started the year with a lot of listings inventory and new dwellings, and we’ve worked through that. Now it feels like a balanced market. Record low interest rates
and stable home prices mean affordability in Regina is as good as it’s ever been.”
Nationally, the aggregate home price climbed 12 per cent year-over-year to $545,414. In the same period, the price of a two-storey home rose 13.7 per cent to $649,635, while the price of a bungalow rose 11 per cent to $459,481. The price of a condo increased 5.8 per cent to $360,679.
“Across Canada, our real estate markets remain healthy, with home values showing modest to strong (yet rational) price appreciation in almost every Canadian city,” said Royal LePage president and CEO Phil Soper.
“Even in the hardest hit oil patch regions, prices have held up well, with small single-digit declines, year-over-year.”