Home prices continue to remain flat in Saskatchewan
According to new statistics released by the Canadian Real Estate Association, housing prices in Saskatchewan are about 10 percent less than they were 5 years ago.
The CREA says home prices in Regina were down 4.25 percent from a year ago, and 12.76 percent from 5 years ago. In Saskatoon, the CREA says prices are 1.75 percent less than they were a year ago, and 8.44 percent less than they were in 2014.
The CREA pegs Regina’s Index Benchmark Price at $262,200, and Saskatoon’s at $287,700
The CREA says across the Prairies, supply remains historically elevated relative to sales and home prices remaining below year-ago levels. It says the home pricing environment will likely remain weak in Saskatoon and Regina until demand and supply return to better balance.
The CREA figures show that the price of an average 2 Storey home in Saskatoon is a little bit less than it was just after Saskatoon home prices pretty much doubled in 2008. The same is true for single storey homes. The average price of Condos and Townhouses in Saskatoon has dropped significantly since prices peaked in 2008.
In Regina, home prices peaked in 2012, and they have been fairly steady, but dropping ever since.
Statistics & graphs courtesy Canadian Real Estate Association