Royal LePage expects Canada’s residential real estate market to grow in 2016, including small gains in the Queen City.
The Royal LePage House Price Survey and Market Survey Forecast was released Wednesday. It shows prices are expected to increase in most market, but not at the pace that has been the norm in recent years.
For Regina, the real estate company forecasts a one per cent increase for the full year.
A high number of listings saw what Royal LePage calls a “modest decline in the aggregate price” of 1.4 per cent to $321,139 in the fourth quarter of 2015.
Median prices for two-storey homes rose slightly to $416,824, with bungalows seeing a slight decline to $297,660.
Condos saw the biggest decrease – 12.5 per cent year-over-year to a median price of $238,789.
Nationally, Royal LePage forecasts the aggregate price to increase 4.1 per cent for the full year compared to 2016.