Fluctuations in Regina’s housing market in the first three months of 2017 are good for some, but not so good for others.
According to a report from Royal LePage Realty, the aggregate house price in Regina rose 1.8 per cent in the first quarter, compared to the same time the year before. It’s now at $335,135.
However, that rise is nothing compared to the 20 per cent jump the aggregate housing price took in Toronto to about $759,000.
Broken down, the price on only one housing type rose – the median price for a two-storey home was up 7.8 per cent in Regina to about $416,045.
The median price tag on a bungalow slipped 1.4 per cent from the same time the year before to $297.304. The median price of a condo also dropped 11.3 per cent to $241,382.
The report said the drop in condo prices is a result of an increase in builds that began in 2016, leaving a lot of properties on the market.
Despite the drop, Royal LePage Realty said the market is doing well for this time of year.
“While the city’s resource-based economy has placed significant strain on the real estate market over the past two years, recent increases in the price of oil have positively impacted buyer sentiment, contributing to an upswing in sales activity in the first quarter of 2017,” said Mike Duggleby, broker and managing partner at Royal LePage Regina Realty, in a news release.