Well, Saskatchewan has managed to stave off Old Man Winter so far this fall and the residential market has remainded hot. Demand levels continue to be very strong for this time of the year.
The residential sales throughout Regina and area continued to increase in October, with 259 residential properties sold in the city. This indicates an increase of 26% from October 2008. (Association of Regina REALTORS® Inc.) For the Regina area, including bedroom communities like White City and Emerald Park, there were 298 sales on the multiple listing service (MLS®), up 31% from 2008.
This marks the 6th consecutive month that sales have exceeded last year’s levels. The average sale price of residential properties sold inside the city was $248,533, up 5% from 2008. Year-to-date 3,228 homes have sold in the Regina area, an increase of 8% during the same period in 2008.
Regina MLS sales are forecast to increase 8.3 per cent to 3,900 in 2010, up from 3,600 in 2009. CMHC is also forecasting Regina will see an average MLS® price of $255,000 in 2010, a 4% from the average of $245,000 in 2009. Saskatoon average MLS price is forecast to hit $286,000 in 2010, up 2% from $280,000 in 2009.
If you’re thinking about selling and are wondering what home prices are doing in your specific area please give me a call.
Whether you’re a first time buyer, looking to move up or a retiree moving into a condominium, now might be the right time to make your move.