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Saskatoon housing prices flat in Q1 2017: Royal LePage

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Royal LePage says housing prices remained flat in Saskatoon during the first quarter of 2017. Darren Calabrese / The Canadian Press

Housing prices in Saskatoon remained relatively flat during the first quarter of 2017, according to a new report from Royal LePage.

The aggregate price of a home was down 0.5 per cent to $385,980 from the same period last year.

The median price of a two-storey home declined 1.5 per cent to $412,795 while the median price of a bungalow rose 0.9 per cent to $355,623. No figures were released for condominium prices.

READ MORE: Saskatoon home seekers still benefitting from buyer’s market conditions

Norm Fisher, the owner of Royal LePage Vidorra, said current inventory levels are giving buyers the edge in a number of price ranges.

“When coupled with a continued low interest rate environment, the surplus in listings has kept Saskatoon’s housing market relatively affordable when compared to many other larger cities in Canada,” Fisher said in a release.

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“Even though low resource prices are having an impact on employment and population growth in Saskatoon, home prices have been remarkably resilient in the face of tough times.”

READ MORE: Saskatoon housing starts trend downward in February: CMHC

The report, released on Tuesday, said Saskatchewan is expected to resume growth in 2017 following two years of recessionary trends during the downturn in the energy sector.