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.
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.
“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.”
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.