The market will continue to be supported by strong economy and industry
The latest market analysis by Royal LePage predicted that Regina’s average housing price will likely decline by 6.3% annually during the fourth quarter to end up at $305,440.
This might bring about greater sales activity in the very near future, considering that this will come in the wake of another drop of 5.9% year-over-year during Q3 2019. The aggregate home price in Regina during the quarter stood at $311,356.
Breaking down by asset class, the median price of two-storey homes fell by 6.9% annually to $374,886. Meanwhile, bungalows contracted by 5.4% to $286,544, and condos had a more measured 3.4% decline to $218,671.
“In ten years, there’s never been a better time to buy in Regina; homes are affordable and we expect to see more activity in the coming months,” Royal LePage Regina Realty managing partner Mike Duggleby said.
Regina continues to attract traffic through a remarkably stable economy, which is supported by a diverse selection of strong industries including energy, manufacturing, information technology, and public service.
“Your housing costs are relatively cheaper and you have more family, disposable income to spend on quality of life and other activities,” Economic Development Regina CEO John Lee said earlier this year.
