January was hot in more ways than one

The temperature wasn’t the only thing above normal in January, as home sales and prices were at or near record highs in a month that is normally quiet.

The Association of Regina REALTORS® MLS® System reported 249 sales during the month which is 14% higher than January 2011. Sales were well above the 5-year average of 198 and the 10-year average of 175 sales for month of January. 

The average sale price in the Regina area was $284,744, which is 10% higher than a year ago. This includes the bedroom communities like White City and Pilot Butte. The average sale price in the city of Regina was $288,497, which is also a high for January.

There is good news for buyers with 431 new listings placed on the MLS® system in January. This brings the number of active listings at the end of January to 988. This should help alleviate a potential supply shortage and give buyers more to choose from.

The activity in January is a continuation of the buoyant real estate market in 2011 and is expected to continue in 2012.

Are you looking for a REALTOR® to list your home or searching for the home of your dreams? Check out our website. CENTURY 21 Dome Realty Inc. has trained professionals in Regina and surrounding areas that can help you with all your real estate needs.

 

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