During the month of October there were 312 sales in the Regina area which includes bedroom communities like White City and Emerald Park. This is 8% down from the all-time high of 340 recorded in October 2011. There were 257 sales in the city, a decrease of 9% from 2011 when 281 properties sold. Year-to-date, there have been 3,516 sales, an increase of 4% from 2011's 3,372. according to the Association of Regina REALTORS® Inc.
The average sale price in all areas of $297,688 was up 5% from 2011's $283.180, while setting a new high in October. The average price in the city was $307,511, up 4% from $294,547 in the same month last year.
During the month, homes sold in all areas were on the market for an average of 37 days before selling at an average of 96.6% of the asking price. The average in the city for October was 30 days and 97.2% of asking price.
In Regina and area there were 1,262 active listings on the market at the end of October, including 660 in the city. There were 455 new listings during the month, down 6% from 482 in 2011.
"Although October sales were down from a record level in 2011, it was a rebound from a cooling off which occurred in September and was in line with what we would expect for the Regina and areas market. As we enter the last two months of 2012, all economic fundamentals point to a continued robust residential real estate market for the remainder of the year and into 2013." said Gord Archibald, Executive Officer of the Association of Regina REALTORS® Inc.
If you want to know more about the real estate market in your neighbourhood or are thinking about buying or selling your home, check out my www.century21.ca/jerry.flegel or give me a call.