Record-setting year for Saskatchewan luxury housing markets
Upper-end residential sales up 15% in Saskatoon, 2% in Regina
It was a record-setting year for high-end housing markets in Saskatchewan, according to a report from RE/MAX.
The number of upper-end residential sales in Saskatoon increased 15 per cent in 2013 over the previous year. In Regina, the number of upper-end sales rose by two per cent over 2012.
Since 2009, luxury sales have close to quadrupled in Regina, up 288 per cent. The reported credited Regina's strong economic performance, along with in-migration, for contributing to the annual increase in sales.
Last year, 310 homes over $500,000 were sold in Regina, seven more than in 2012. Luxury sales made up about eight per cent of total residential sales in Regina in 2013.
Top price tags
Saskatoon's highest selling home in 2013, which backs onto the riverbank on Saskatchewan Crescent West, sold for $1.55-million. A condo on Saskatchewan Crescent sold for close to $1.2-million. The highest listed property at the moment is an acreage south of the city priced at $2.95-million.
The highest single family home sold in 2013 in Regina went for just over $1.3 million. The city's most expensive listing was a 10,000 sq.ft. home in Wascana View with a price tag of $4 million. The highest priced condo was listed at just under $1 million.
The report said that prices in the top end should experience a modest increase along with the overall Regina housing market. In Saskatoon, the luxury home market is forecast to remain vibrant.