After a slow start for the first three months of the year, we are now into the busy spring period and the supply of listings on the market remains very high, based on reports through the Association of Regina REALTORS® Inc MLS® System.
Statistics for April 2014 compared to April 2013:
- Sales increased 16% from 339 to 393, in the city sales increased 14% from 279 to 318
- Active Listings at the end of April increased 36% – from 1,449 to 1,966. In the city, an increase of 46% from 803 to 1,215. This is the highest number of homes for sale at the end of April in the past ten years.
- In April, there were 897 new listings, up 25% from 715 in 2013
For April, the MLS® Home Price Index (HPI) which is a much more accurate measure of housing price trends than the average price – reported a composite residential price of $305,000 and index of 280.8 for the city. These are down 1.5% from last year’s levels of $309,600 and 285.0. This indicates that residential property values have actually declined in Regina over the past year. The decrease is evident in all housing types. The HPI measures residential price trends based on four benchmark home types.
The supply of listings for sale has grown, bringing the number of homes on the market to a level not seen in recent years. This is offering choice to buyers in almost all price ranges and locations.
If you’re looking for your dream home or thinking of selling your home and are not sure what to do to sell it for top dollar, perhaps it’s time to talk to Ian Johnston at (306) 790-3726.