There was a surge in recorded sales in both May and June of 2011; as a result, year to date sales in 2011 have surpassed 2010 levels. A total of 412 sales were reported for June and 401 were reported for May – making this the first time since 2007 that more than 400 sales have been reported in back to back months. See the full media release.
For June 2011, the MLS® System reported:
- 412 sales – up 22% from 337 sales in 2010. Combined with the 401 sales reported in May, 1,928 sales year-to-date – a 3% increase over 1,879 in 2010.
- average price in June was $285,613 a new high for the month and up 4% over 2010.
- the average house price in the city was $287,444 – a new high for the month and up 2% over 2010.
- the year-to-date average price in all geographic areas set a new high at $278,811 – up 8% over 2010.
- for the entire MLS® System, $117.7M in sales was reported in June, down from May of 2011, but an increase of 27% over 2010's $92.9M.
- the year-to-date dollar volume of $537.5M also set a new high for the first half of the year, up 11% over 2010's previous high of $483.7M. This is the first time the half-billion dollar mark has been broken halfway through the year.
- homes were on the market for an average of 32 days before selling at an average of 96.3% of the asking price.
- 1,473 active listings for all areas on the market at the end of the month, including 776 in Regina.
"The numbers for June are a strong indication of healthy demand in the market for housing. These, combined with sales levels which took place in May, have created a level of demand which we haven’t seen since 2007 for these two months. Economic and job growth coupled with the increases we’ve seen in population are all contributing to a healthy real estate market. Provided this continues to be the case, we see the housing market to be very buoyant and active into the foreseeable future," concluded Gord Archibald, Executive Officer of the Association of Regina REALTORS® Inc.