Despite a drop in June, sales for the first half of the year for Regina and area are virtually on par with last year, based on reports through the Association of Regina REALTORS® Inc.MLS® System.
Statistics for June 2014 compared to June 2013:
- There were 358 residential sales during the month in all geographic areas, down 9% from 394 reported in 2013
- Year-to-date 1,823 sales have been reported, down 1% from 2013's 1,840
- At the end of June there were 2,350 active listings in Regina and area, up 31% over 2013's 1,796. In the city there were 1,431 homes for sale, the highest number in the past 10 years. 820 new listings were placed on the MLS® System during the month, an increase of 6% from 773 in 2013
For June, 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 $302,700 and index of 278.7 for the city. This indicates that residential property values have actually declined in Regina over the past year - the decrease is evident in all housing types except apartment condos which were up 2.6%.
The strong economic and job growth indicate continued and sustained demand for housing. Despite the rising inventory of homes for sale, we don't anticipate this will have any substantial effect on demand levels.
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