It's official - spring is here and we are experiencing an active real estate market. Based on reports through the Association of Regina REALTORS® MLS® System, the first quarter activity reflects that the strong economy is continuing.
Statistics for March 2012 compared to March 2011:
- Sales in Regina and area were up 18% - from 317 to 374
- Sales in the city were up 8% - from 281 to 303
- Average sale price in Regina and area was up 5% - from $274,330 to $287,772
- Average sale price in the city was up 6% - from $274,980 to $293,581
- Active Listings at the end of March - 1,145, including 532 in the city
- New listings in March up 9% - from 576 to 630
Number of Sales was up 19% - from 772 to 918
Average sale price was up 7% - from $268,991 to $286,480
The sales activity in March is characteristic of the spring market and is expected to pick up over the next few months. The current tight rental market also has many first time home buyers looking for their first home purchase.
More new listings will be needed to keep up with the strong demand. Our trained professionals are looking for houses to show their buyers in search of their next home. If you would like your house to be considered, please contact Eldon Lautermilch.