The Regina Real Estate market continues to be strong. The Association of Regina REALTORS® MLS® (Multiple Listing Service) reported that sales, listings and average selling prices have increased over the June 2011 numbers.
Statistics for June 2012 compared to June 2011:
- Sales in Regina and area were up 3% - from 414 to 428
- Sales in the city were up 5% - from 340 to 357
- Average sale price in Regina and area was up 10% - from $284,283 to $312,241
- Average sale price in the city was up 15% - from $286,920 to $328,980
- Active Listings at the end of June - 1,334, including 575 in the city of which 107 are conditionally sold
- New listings in June was down 4% - from 685 to 659
- Number of Sales was up 15% - from 1,941 to 2,225
- Average sale price was up 8% - from $277,623 to $300,045
Regina is currently in a seller's market with a sales-to-listings ratio of more than 60 per cent. Keeping this in mind, sellers need to be cautious about what their initial asking price is. Even though listings are selling quickly, there are still some price reductions for properties that may have been over-priced keeping the house on the market for a longer period of time.
As local market experts, CENTURY 21 Dome Realty sales professionals are uniquely trained and qualified to help home buyers navigate the opportunities that exist in the local real estate market and provide sellers with excellent marketing and exposure for their properties. To view property listings, please visit my website at www.century21.ca/ian.johnston.