
The average price of a Toronto condo hits an eye-watering $617,658
Greater Toronto Area home sales up 14.2% in November, prices see highest gains of the year while inventory declines.
Find the best rate in just seconds.
Regina homebuyers are in luck: in addition to benefitting from subdued home prices, they can also take advantage of mortgage rates that are hovering near record lows. With good prices and great rates, it’s a perfect time to apply for a mortgage or renew the one you already have.
Focus On
People shopping for real estate in Regina are experiencing a true buyer’s market. A slowdown in the energy sector is leading many potential Regina homebuyers to hold off on their property purchases or, at the minimum, offer lower asking prices than they would have a year earlier.
Despite the slowdown seen in the Regina housing market, the city maintains an unusually low unemployment rate and an impressive number of high-paying jobs. With average home prices currently sitting at $315,000, Regina still boasts one of the most affordable housing markets in all of Canada.
Average Home Prices in Regina.
Date | Home Prices |
---|---|
Jan-14 | $345,238 |
Mar-14 | $324,951 |
May-14 | $307,387 |
Jul-14 | $324,368 |
Sep-14 | $315,925 |
Nov-14 | $306,266 |
Jan-15 | $302,946 |
Mar-15 | $300,524 |
May-15 | $311,171 |
Jul-15 | $308,912 |
Sep-15 | $304,725 |
Nov-15 | $316,490 |
Jan-16 | $317,283 |
Mar-16 | $312,189 |
May-16 | $330,000 |
Jul-16 | $310,000 |
Sep-16 | $315,000 |
Buyers in search of a new build this year are benefitting from very consistent pricing from month to month and neighbourhood to neighbourhood. New single-detached homes in Regina currently average just over $500,000, according to the CMHC.
New Home Prices in Regina, Single-Detached
Year | Price |
---|---|
2011 | $457,947 |
2012 | $462,023 |
2013 | $491,292 |
2014 | $514,165 |
2015 | $509,000 |
2016 (F) | $514,000 |
Regina serves as the cultural and economic hub of the province. With nearly 200,000 residents, it’s home to a diverse population consisting of German, English, Scottish, and Aboriginal communities.
Abundant oil and gas jobs combined with low interest rates have been a boon to Regina's economic prospects, and the city currently enjoys one of the lowest unemployment rates of any major Canadian city, at less than 4%.
Greater Toronto Area home sales up 14.2% in November, prices see highest gains of the year while inventory declines.
Affordability and price continue to be the most important factor for many Canadians when it comes to buying a home.